The Iceberg picture reappears, revealing the industry insider information you don’t know

Original title: The Crypto Iceberg Explained
Original author: TyrogueD, Crypto Kol
Original translation: zhouzhou, BlockBeats

Editor's note:This article uses the "iceberg model" to introduce the different levels and dark sides of the cryptocurrency industry, from basic concepts to dark humor and conspiracy theories within the community. It reveals the historical background and some important events of Bitcoin, Ethereum, etc., as well as the mysterious culture popular in the market, the phenomenon of altcoins, and the controversial behavior of industry figures, aiming to satirize and ridicule this not-so-serious industry.

The following is the original content (the original content has been reorganized for easier reading and understanding):

I have seen iceberg memes on Peat-related topics and decided to make one for cryptocurrency on this beautiful weekend. Sure enough, it quickly became popular after the Scorpio new moon (a moment of psychological rebirth), and accompanied the market correction, providing everyone with an interesting entertainment.

Layer 1:

Fiat currencies are worthless:Every fiat currency, backed by nothing but the promise of a military or government, will eventually go to zero.

Bitcoin is immutable:Only 21 million bitcoins can ever be mined (approximately).

Assets are inflated by base currency inflation:Study housing and stocks in Western markets pegged to the mighty petrodollar.

Smart contracts replace the economy:The vision when ETH first emerged, smart contract capabilities promised to replace real estate, banks, salespeople, etc.

Chancellor on the verge of a second bank bailout: The classic headline embedded in Bitcoin's first block, signifying what Satoshi Nakamoto was up against when he created Bitcoin.

Second Layer:

Altcoin/Bitcoin Ratio:An important indicator for traders to decide whether a particular altcoin is worth buying, this old concept is captured in the Altcoin/Solacoin ratio, or the famous Soolacoin/Ethereum up-only chart.

XRP Myth Scam:The classic pump in the 2016/2017 cycle that made many investors rich overnight and created a lasting XRP culture.

Silk Road:Bitcoin was initially used as a peer-to-peer currency for various items and services until traditional finance began to accept it.

Ether Rock:One of the first NFT projects launched on the blockchain.

Yachtzee Saves Bitcoin:A reference to Arthur Hayes shutting down Bitmex at the peak of the Covid death candle to save the market.

Cyberpunk Spirit:The classic inspiration and ideology behind Bitcoin and Ethereum.

The Coinbase ...

Third Layer:

Altcoins are Bitcoin 2.0:Mentioned Murad’s theory on how altcoins can create an unbeatable holder and culture, which can cause extraordinary price volatility.

Crypto is the second dimension of risk:When macro is bad we crash, when macro is good we do well.

Ethereum is for more Bitcoin:Mentioned that Ethereum was initially seen as an L1 scam designed to steal Bitcoin.

Sushi Vampire Attack:Sushi vampire attacks UNI, with the main developer slashing the price of the Sushi token to protect holders.

Ziliqa Annual Pull:An old tweet mentioning GCR about Ziliqa having the most aggressive market-making capabilities when deciding to pull.

Every coin goes to zero:Every coin will eventually go to zero.

Layer 4:

Beerus is based on 16z:No one has yet discovered who Beerus, the developer behind AnubisDAO, is. Perhaps B16z is Sisyphus, and the truth will never be known.

CL is an LLM:High levels of autism and seed oils can create NPC-like geniuses.

Truth Terminal is Baphomet:AI is essentially humans trying to play God, and GOAT refers to the mysterious deity of yin and yang, while being extremely vulgar and lowbrow.

Italian Mafia Creates DeFi 2.0:GCR has hypothesized that Dani Sestagali's TIME, SPELL, and ICE tokens could be used to launder money for organized crime.

MEV = UBI:MEV provides a continuous source of income for clever programmers/money users.

Fragmented liquidity leads to poverty:The reason previous cycles seemed easier to navigate was because there were fewer bad coins to bid on, whereas in the early cycles it was just Bitcoin, in the past two cycles it was Ethereum/Bitcoin, and now it is a wide variety of coins, leading to frequent losses.

Fifth Layer:

SBF is Ryoshi:Referring to the classic Bitboy video, he claims that SBF created SHIB.

Moon Phases and Eclipses Create Bull Markets:No further explanation is needed.

Four-Year Cycles Are Global Liquidity:No further explanation is needed.

On-chain runs bi-monthly due to wage slavery:Most participants lose money, need multiple deposits to start PVP, then continue gambling with more paper money until encountering too much "rug" and returning to zero, which is a classic pattern.

Layer 6:

Bitboy Cocaine Abuse:Bitboy's endless energy may be due to cocaine abuse.

mingxmecca:Old altcoin of GCR.

El Salvador Atlantis Renaissance:If El Salvador continues its policies and leadership, it has the opportunity to become one of the most successful countries of this century.

Sanctioned Countries Pull Up Altcoins:Similar to the Oridinals joke, Altcoins often provide a clean channel for money laundering, or to be sent to different regions (e.g. $USDT on Tron).

Do Kwon Hides Crypto Hardware Wallets:No explanation needed.

OI Lifts in Uptrend:No explanation needed.

Layer 7:

Kole World Interstellar Dupe:I suspect Kole was initially correct about the strong summer correction, but may have been fooled by an interstellar entity into targeting low.

Satoshi is the CIA:Multiple conspiracy theories exist.

Murad is Baproll:The most notorious SPX6900 bull promoter is probably Murad's stand-in.

GCR's cyber wheelchair:Some assume GCR's physical disability is because he believes trading is the only way to riches.

Finex determines the price:No they don't, I'm kidding.

George Floyd never died:A reference to DroydAI.

Hope you enjoyed this meme as much as I did. We are not a serious industry.

「Original link」