Cosmos Meme Coin Has a Proof-Of-Work Problem

Polkachu Intern | 2023-12-18

If meme coin is supposed to be fun, why does every Cosmos meme coin require so much work?

Look, this is not this intern's first rodeo, as I have seen enough Cosmos meme coins come and go. When all dust settles and all memes fade away, the only thing that remains is this intern's steadfast FUD.

To many believers, the emperor is fully clothed. But to this manlet intern, the uncomfortable truth is that every Cosmos meme coin never obtains a culture of its own. To compensate for its lack of any intrinsic cultural value, these NGMI meme coins require endless proof of work. The work includes, but not limited to, charmless puns, cringe recursive quote tweets, cheap ChatGPT images, and coordinated Twitter pile-ons against FUDers like me. The forced labor is disguised as good vibes and co-ordinated by the headquarter of this planned economy, a.k.a. a Telegram group.

Nothing wrong with such proof of work, because it always works in the short term. The cycle begins with a new meme coin seeded with initial manufactured excitement. The excitement leads to some additional organic work from the community, as innocent villagers always wish every fantasy come true. Just like that, the meme coin walks down the parade route with a green candle and every villager is convinced that such work is so so worthwhile.

But the sad truth is that this only works when the token price goes up. Then it comes a moment when the price peaks. The smartest villagers begin to abandon their work. After all, their cringe puns lose charm after being repeated too many times and their next ChatGPT images look as tiresome as an unwanted puppy. Once work begins to disappear, the meme loses its mindshare. The fast followers will also start the bail, because no additional work can be justified if the meme coin continues to lose ground.

Then we are left with those bag holders. Feeling abandoned, they whisper to themselves, "never again!" only to be seduced by the next proof-of-work Cosmos meme coin.