The new fame:
For any money that derives its importance primarily from online collective activity, the famed Dogecoin persona invented the word "meme coin" in 2014 to designate any currency that derives its meaning primarily from online collective action. Throughout the years, the term has achieved universal acceptability. In contrast to other currencies, which are often used as a means of transferring goods and services and are hence regarded second-hand, gold coins are considered new.
Let us take, for example, the infamous Coinye (COYE), which was launched in April 2014 and quickly rose to the status of a crypto-laughing currency's stock, provoking a wave of copyright infringement lawsuits against its developers, who called the cryptocurrency after Kanye West's stage name. However, Coinye's usefulness began to wane almost immediately after it became clear that the developers would face significant above-board consequences as a result of their actions, but it managed to maintain a strong foothold among users for the period of time necessary prior to its demise, resulting in the formation of a small but dedicated online community of people who continue to trade COYE today.
An example of a new trend of Santa Coin:
This is where Santa Coin, the latest meme coin brought to us by Dogecoin's legacy, comes in. Santa Coin is an interesting case because it has just recently emerged on the scene but has already experienced both explosive growth and complex technical problems that have contributed to its stagnation over time. The story of Santa Coin begins with the development of a new Christmas-themed game called "Santa's Workshop" in December 2017. The game was created by a developer going by the name of "Mad Elf", who decided to create his own coin as an in-game reward for players who managed to achieve certain milestones.
The launch of the game was accompanied by a Reddit post in which Mad Elf announced the launch of Santa Coin and provided a link to the game's Github page, where users could find all the necessary information about how to obtain and use the new currency. From there, Santa Coin took off, experiencing massive growth in its first few weeks as word spread throughout various online communities The enthusiastic reception that Santa Coin received was likely due to the fact that it was a new, Christmas-themed coin that could be used to purchase goods and services from within the game.
Santa Coin's growth:
However, as is often the case with new cryptocurrencies, Santa Coin's growth was not without its problems. One of the biggest issues that arose was the fact that the developers had not created a proper wallet to store Santa Coins in, which resulted in many users losing their coins when they were unable to find a way to access them. In addition, because Mad Elf had not created an official Santa Coin wallet or mining software, there was no way for users to generate new coins, which led to a significant decrease in trading activity as the novelty of the currency began to wear off.
Nevertheless, Santa Coin has continued to persist in the months since its launch, albeit at a much slower rate than it experienced during its early days. While it is unlikely that Santa Coin will ever achieve the same level of popularity as Dogecoin or other major meme coins, it is still an interesting example of how online communities can create and support new cryptocurrencies.
What happens to a new currency:
In a way, Santa Coin is a good example of what happens when a new currency does not have proper support from wallets and mining software. While Santa Coin was able to attract users because it had something unique about it – Christmas-themed cryptocurrency – its developers did not do enough to ensure that the currency would continue to be used by those who generated it, which ultimately led to the creation's stagnation.
However, the popularity of Santa Coin points towards an interesting insight into how cryptocurrencies can be developed and supported in various communities across the world. Santa Coin has continued to persist in the months since its launch. Whether or not Santa Coin will survive remains a mystery for now, although if history is any indication then there is no reason why it can't continue to thrive in the years to come. After all, cryptocurrencies are known for their resilience in the face of adversity, and it is likely that Santa Coin will continue to grow in popularity as more and more people learn about it.
Wrapping everything up:
Various new meme currencies have been developed, most notably Dogecoin, which has a combined market capitalization of more than $300 million USD as of January 2016. Meme coins are relatively simple to create and understand how to make without the need for any upfront expenditure since all contributions to a new currency are optional and usually gratifying to the person who receives a small number of freshly manufactured coins. As a result, the creation of new meme currencies has the potential to be a successful endeavor.
#Santacoin
#BSC #Binancechain #BTC
#Cz #evergrow #cryptomoonshots #busd
About:
WebPage URL: https://santacoin.io
Telegram URL: https://t.me/santa_coin
Reddit URL: https://www.reddit.com/r/SantaCoin
Announcement: https://t.me/santacoin_news
Author:
BCT UserName: cryptosmith03
BCT User Profile Address: https://bitcointalk.org/index.php?action=profile;u=2262672;sa=summary
BSC Address: 0xF0cc06EB69D706EaaE1d5406056D18539B459636