The convenience of numerous Bitcoin clones is that they allow one to easily replicate the most simple and trendy solutions appearing in the original network. Just a couple of weeks ago, the whole crypto Twitter discussed the Bitcoin network's other congestion and blockchain clogging with arbitrary files, including JSON with memecoins "emission," predicting virtually another civil war for the Bitcoin community.
But now, when Bitcoin fees are appearing to return to the late times' norm, media are full of headlines about a spike in Litecoin transactions count due to the minting of LTC-20 tokens (here's a thread on how to buy them) or in Dogecoin because of – yeah, that's right! – DRC-20 tokens.
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But first, let 'em honestly tell you about some cons of that "tokens":
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Hey, you're still early, so don't miss that generational opportunity! (Source: https://drc-20.org/marketcap)
So in a somewhat post-ironic way, we now have memecoin-based memecoins, and I'm sure that $Pepe fans would really appreciate it. But in the old and boring Dogecoin community, there're some critics, arguing that the $Doge folks "should stop this shameless hype" and return to the clear "Satoru Nakamoto vision," as there's "no shit is needed." So the depth of copying, in this case, is pretty impressive, of course:
Dogecoin just needs to be the people's currency to complete Satoru Nakamoto's vision, and no shit is needed. The DRC20 Dogecoin community should stop this shameless hype.
— 狗不理大叔Doge1# (@938433911) May 15, 2023
And in the context of the market phase, if that is not a signal of market overheating and a need for some cool-off, what could that signal look like? I can't imagine, honestly, but maybe it's just a lack of imagination; I don't know.
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