Row 76231

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#Shiba Inu Pro-Arguments Below is a Shiba Inu pro-argument written by warmbookworm.

> There are several pros to Shiba Inu, as we as several common misconceptions about what value is and what makes something valuable that people who write off memecoins like Shib are usually prone to making. > > First of all, the pros: Shiba Inu is the third most searched for cryptocurrency in 2021. It has grown to become one of the top ten cryptocurrencies by marketcap, even surpassing Dogecoin, the first and by far the biggest memecoin since alt coins existed. This is huge because as we've seen with bitcoin, the first mover advantage is huge; no other coin has come close to surpassing bitcoin yet, despite tens of thousands of coins coming to existence in recent years. > > Shiba Inu clearly has one of the largest network effects in the entire industry, which is arguably the most important metric for any crypto. > > You can easily buy Shib on platforms like Webull, so people who are not into crypto can still get in and buy shib, making it far more accessible than all but the largest and most well-known cryptocurrencies. > > Finally, Shib has great branding. The idea of the "Shib Army" and "Shib to 1 cent" (or even a dollar) is incredibly good marketing, because it gives the community a common identity, as well as a goal to work towards. If we take any other crypto, people might like the coin and want it to go up, but there is no singular goal that everyone can point to and talk about. Thus, people are much less likely to contribute towards the development and branding of the coin. > > Secondly, the "shib-lingo", with LEASH and BONE as well as other parts of the shiba inu ecosystem allows for a much more intuitive understanding of crypto for those who find it too challenging to understand and can't be bothered to learn about all of the ins and outs of crypto itself. It is a great gateway for complete beginners to start understanding all of the different crypto terminology in words and concepts they already understand. > > ---------------------------- > > Now in terms of misconceptions regarding value, most people think that you need to have a "use-case" for value. But what is a use-case? Really, a use-case is just a "feature". i.e they think that every coin has to have some special feature or property that other coins don't have in order for it to be valuable. > > This makes sense intuitively, but isn't how things actually work. Just because something has a unique feature doesn't mean that that feature is useful. For example, if you were to take YouTube's source code today and slightly improve the UI, you would have a "superior YouTube", but no one would use it. > > Network effects far outweigh any features in terms of importance. Furthermore, the idea that features have to come *before* value is intuitive, but actually, as we've seen, because of the Shib network being adopted, there are DApps being developed on it, like wallets and exchanges to begin with, and eventually, there will probably be a lot more products and services being built on top of Shib in the future, as long as it continues to hold value. > > Because it isn't just feature that create value. Rather, developers chase after the money. Where there is money, where there are incentives, that's where people will build, and that in itself will grow the ecosystem. > > disclosure: I do not hold any SHIB and never will.

*****

Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Shiba_Inu) to find submissions for other topics.

FieldValue
text #Shiba Inu Pro-Arguments Below is a Shiba Inu pro-argument written by warmbookworm. > There are several pros to Shiba Inu, as we as several common misconceptions about what value is and what makes something valuable that people who write off memecoins like Shib are usually prone to making. > > First of all, the pros: Shiba Inu is the third most searched for cryptocurrency in 2021. It has grown to become one of the top ten cryptocurrencies by marketcap, even surpassing Dogecoin, the first and …
label r/cryptocurrency
dataType comment
communityName r/CryptoCurrency
datetime 2024-05-24
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Raw Record

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  "text": "#Shiba Inu Pro-Arguments\nBelow is a Shiba Inu pro-argument written by warmbookworm.\n\n> There are several pros to Shiba Inu, as we as several common misconceptions about what value is and what makes something valuable that people who write off memecoins like Shib are usually prone to making. \n> \n> First of all, the pros: Shiba Inu is the third most searched for cryptocurrency in 2021. It has grown to become one of the top ten cryptocurrencies by marketcap, even surpassing Dogecoin, the first and by far the biggest memecoin since alt coins existed. This is huge because as we've seen with bitcoin, the first mover advantage is huge; no other coin has come close to surpassing bitcoin yet, despite tens of thousands of coins coming to existence in recent years.\n> \n> Shiba Inu clearly has one of the largest network effects in the entire industry, which is arguably the most important metric for any crypto. \n> \n> You can easily buy Shib on platforms like Webull, so people who are not into crypto can still get in and buy shib, making it far more accessible than all but the largest and most well-known cryptocurrencies. \n> \n> Finally, Shib has great branding. The idea of the \"Shib Army\" and \"Shib to 1 cent\" (or even a dollar) is incredibly good marketing, because it gives the community a common identity, as well as a goal to work towards. If we take any other crypto, people might like the coin and want it to go up, but there is no singular goal that everyone can point to and talk about. Thus, people are much less likely to contribute towards the development and branding of the coin. \n> \n> Secondly, the \"shib-lingo\", with LEASH and BONE as well as other parts of the shiba inu ecosystem allows for a much more intuitive understanding of crypto for those who find it too challenging to understand and can't be bothered to learn about all of the ins and outs of crypto itself. It is a great gateway for complete beginners to start understanding all of the different crypto terminology in words and concepts they already understand. \n> \n> ----------------------------\n> \n> Now in terms of misconceptions regarding value, most people think that you need to have a \"use-case\" for value. But what is a use-case? Really, a use-case is just a \"feature\". i.e they think that every coin has to have some special feature or property that other coins don't have in order for it to be valuable.\n> \n> This makes sense intuitively, but isn't how things actually work. Just because something has a unique feature doesn't mean that that feature is useful. For example, if you were to take YouTube's source code today and slightly improve the UI, you would have a \"superior YouTube\", but no one would use it. \n> \n> Network effects far outweigh any features in terms of importance. Furthermore, the idea that features have to come *before* value is intuitive, but actually, as we've seen, because of the Shib network being adopted, there are DApps being developed on it, like wallets and exchanges to begin with, and eventually, there will probably be a lot more products and services being built on top of Shib in the future, as long as it continues to hold value. \n> \n> Because it isn't just feature that create value. Rather, developers chase after the money. Where there is money, where there are incentives, that's where people will build, and that in itself will grow the ecosystem.\n> \n> disclosure: I do not hold any SHIB and never will.\n\n*****\n\nWould you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Shiba_Inu) to find submissions for other topics.",
  "label": "r/cryptocurrency",
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