The cognitive iceberg of the crypto market: From the common knowledge of new players to the memes of seasoned investors, which layer are you on?

Author: Tyrogue

Compiled by: Shenchao TechFlow

I once saw an iceberg meme, and this weekend I decided to create one for cryptocurrency.

Sure enough, it quickly went viral, providing an interesting entertainment material alongside the market adjustments.

The following layers, from shallow to deep, represent some views on the crypto market.

Layer 1:

Fiat currency will eventually depreciate: Every fiat currency, supported only by the promises of governments or armies, will ultimately depreciate to zero.

Bitcoin is constant: The total supply of Bitcoin is fixed at 21 million, which gives it scarcity.

Assets appreciate due to currency inflation: Researching properties and stocks linked to the petrodollar in Western markets reveals this trend.

Smart contracts reshape the economy: The initial dream of Ethereum was to replace traditional industries like real estate and banking through smart contract functionality.

The Chancellor faces a second bank bailout: This is the headline embedded in the first block of Bitcoin, representing the financial system that Satoshi Nakamoto opposed when creating Bitcoin.

Layer 2:

alt/btc ratio: This is an important indicator for traders to determine whether a particular altcoin is worth investing in compared to Bitcoin, a concept that continues in the alt/sol ratio and the famous sol/eth upward chart.

The legendary scam of XRP: During the 2016/2017 cycle, the surge of XRP created many millionaires and formed a lasting XRP community.

Silk Road: Before Bitcoin was accepted by traditional finance, it was mainly used for peer-to-peer transactions to purchase various goods and services.

Ethereum Rocks: This is one of the earliest NFT projects launched on the blockchain.

Yachtzee saves Bitcoin: Refers to Arthur Hayes shutting down Bitmex during the COVID-19 pandemic to prevent a market crash.

Cyberpunk spirit: This is the initial inspiration and ideological system behind Bitcoin and Ethereum.

Layer 3:

Altcoins are Bitcoin 2.0: Murad's theory suggests that altcoins can form steadfast holders and enthusiastic communities, leading to astonishing price volatility.

Cryptocurrency is a magnifier of risk: When the macro economy is in a downturn, we suffer heavily; when the macro economy improves, we perform excellently. Haha.

Ethereum is designed for more Bitcoin: An early popular saying claimed that Ethereum was a scam aimed at siphoning off Bitcoin.

Chinese funds heat up ordinals: No further explanation needed.

Sushi's vampire attack on UNI: SushiSwap launched a vampire attack on Uniswap, with developers protecting holders by lowering the price of SushiSwap tokens (laughs).

Ziliqa's annual pump: An old tweet from GCR mentioned that Ziliqa had the most aggressive market-making behavior when deciding to pump.

Every coin will eventually go to zero: All coins will ultimately go to zero.

Layer 4:

Pumpfun 30k-1m fractal: There is an actionable pattern that can identify potential coins early and buy on the first pullback on Raydium (if it can survive).

SOL Foundation reignites the bull market: Pure fabrication.

CZ is yakub: Refers to CZ's prominent intellect.

Vitalik's death hoax caused the candlestick chart: After the Vitalik death hoax broke, who profited from the sold ETH?

PEPE risk indicator: There was a time when observing PEPE's price movements could predict the market's health. -80% altcoin drawdown: Every successful altcoin has experienced multiple -80% drawdowns.

Layer 5:

Beerus is the embodiment of 16z: To this day, no one knows the true identity of Beerus, the developer behind AnubisDAO. Perhaps B16z is a mystery we will never know.

CL is a large language model: High levels of focus and unique dietary habits can create NPC-like geniuses. (Note: CL is used in online communities in a sarcastic or exaggerated way to describe a person or phenomenon, comparing it to the performance of a large language model (LLM) that lacks self-awareness or personality.)

The truth terminal is Baphomet: Artificial intelligence is essentially humanity's attempt to play God, while the Goat symbolizes a mysterious androgynous deity, behaving both vulgarly and extremely.

The connection between the Italian mafia and DeFi 2.0: GCR once hypothesized that Dani Sestagali's TIME, SPELL, and ICE tokens might be used for money laundering in organized crime.

MEV is equivalent to basic income: MEV provides a stable income source for clever programmers and yield farmers.

Liquidity dispersion leads to poverty: The early crypto market cycles seemed easier because there were fewer assets to choose from, such as only BTC in the beginning, then later ETH/BTC, while now there are numerous assets that could lead to losses.

Layer 6:

SBF is Ryoshi: This is a reference to an OG Bitboy video, which claims that SBF is the creator of SHIB.

Lunar phases and eclipses trigger bull markets: No further explanation needed. (Note: This phrase is a sarcastic or ironic statement suggesting that market trends (especially bull markets) may be influenced by seemingly unrelated factors (like lunar phases and eclipses).)

The 4-year cycle is merely a reflection of global liquidity: No further explanation needed.

On-chain activity every two months is due to wage slavery: Due to most participants losing money, they need to accumulate several months' worth of wages to participate in PVP, then gamble with increasing amounts of money until they are drained by scams. This is a classic cyclical pattern.

Layer 7:

Bitboy's boundless energy may be related to cocaine abuse: Bitboy's endless energy may be due to cocaine abuse. (Note: This statement implies or jokes that Bitboy's high energy may be due to cocaine abuse. Bitboy is a highly active influencer in the cryptocurrency space, known for his high energy and frequent content updates. This claim is not necessarily factual but may be a form of jest or satire online, emphasizing that he seems unusually energetic.)

mingxmecca: This is a pseudonym that GCR once used.

El Salvador's path to revival: If El Salvador continues its current policies and leadership, it may become one of the most successful countries of the century.

Sanctioned countries promote altcoins: Similar to a joke, altcoins are often used as tools for money laundering or transfer (e.g., $USDT on Tron).

Do Kwon's ledger device: No further explanation needed. (Note: Do Kwon is the co-founder of the Terra blockchain project, which collapsed in 2022, leading to widespread attention and controversy. "Ledger device" is used to satirize the project's downfall.)

Increase in open contracts in an upward trend: No further explanation needed.

Layer 8:

Kole's astrological predictions for market trends: I suspect Kole's initial prediction of a strong adjustment in the summer market was accurate but may have been misled by astral factors, leading to a lower target. (Note: "Kole's astral pranks" is a metaphorical expression suggesting that while Kole's initial market predictions may have been correct, some mysterious or supernatural force (i.e., "astral power") influenced him to change his target or prediction.)

Satoshi Nakamoto is a member of the CIA: There are various conspiracy theories about Satoshi Nakamoto being a member of the CIA.

Murad is Baproll: The most notorious SPX6900 bull market poster may be a pseudonym for Murad. (Note: Baproll is referred to as "the most famous SPX6900 bull market poster," suggesting that this identity is known for being extremely bullish on the market.)

GCR's "internet wheelchair": Some speculate that GCR's physical disability makes trading his only path to wealth.

Finex determines prices: Actually, it doesn't; I was just joking.

George Floyd never died: This is a reference to a saying from DroydAI. (Note: These two names are likely combined due to internet culture's "meme" or "internet joke." On social media platforms, people sometimes combine seemingly unrelated concepts to create content that is ironic or darkly humorous.)

I hope you enjoyed making these memes as much as I did. We are not a serious industry.