With a centralized banking system, there is nothing ostensibly comedic about currency distribution. But as money becomes a thing of the internet with cryptocurrencies, currencies have gone through nearly all the rites of passage associated with becoming networked on the internet. Holders of traditional cryptocurrencies such as Ethereum and Bitcoin are used to memes and being trolled on various forums and Twitter. These five cryptocurrencies take it up a notch.
Joke currencies occupy a unique and significant space in the crypto realm. Some are blatant fundraisers for cyber pranksters, and some are hardly worth anything at all, yet they all provide a critical outlook on the hype, fervor, and gaudy behavior that a bullish crypto market produces. Their worth is largely based on their critique of how we react to the monetary world, both new and old.
Monacoin, introduced in December 2013, is the first distinctly Japanese cryptocurrency. Its icon is a cat featured on a golden coin resembling the mint of Dogecoin. Although its website is more bare bones than tongue in cheek, Monacoin’s community is very robust and engaged in the crypto world. Having been birthed in 2013, Monacoin has longevity relative to other joke coins. Most of its humor is geared toward Japanese speakers. However, every once in a while, a Western investor will speculate, “What about Mona?”
4. Jesus Coin
There are fewer things older than money and religion. Parodying the human relationship between the two is most certainly a stroke of genius. The Jesus Coin website fully mimics an ICO’s front page with a team, roadmap, and cartoon. Jesus Coin is a classic comedic coin for fans of joke coins.
3. Useless Ethereum Token
The Useless Ethereum Token is marketed as the most blatantly honest ICO ever created. The website’s creator is totally transparent about using the funds from the ICO for flat screen televisions and other electronics. Hilariously acronymed “UET” in the style of tokens that present themselves for mass trading, UET also flaunted bonuses to entice initial investors.
With an ICO in the summer of 2017, the dawn of the year of ICOs, Useless Ethereum Token is an apt reminder of the fool’s gold ICOs that plague the Ethereum network and the crypto community at large.
Garlicoin arose after a Reddit post which said that if it garnered 30,000 upvotes, its author would create a new coin. Well, the author’s post actually reached its goal, and so a new coin was forked from Litecoin on December 25, 2017.
Most of Garlicoin’s comedy comes from its community’s subreddit. The initial post has enough hilarious comments to keep you entertained for the better part of an hour. Its subreddit is also a central hub for humor with a vibrant community of memes and banter. Although Garlicoin is a very new joke coin, it will be interesting to track its progress throughout the year.
With over 110 billion coins mined and a rich meme culture of its own, Dogecoin is most certainly the king of joke coins. This widely known and well-loved coin was initially designed to illustrate the volatility of the crypto space and behavior. With its original flourish in December 2013, it soon became apparent that the joke was lost on its buyers, or that crypto traders will try to make a profit on just about anything. Its subsequent crash illustrated the darker side of cryptocurrency, with memes trolling the market. Perhaps even more ominously, a thief stole millions of Dogecoin around Christmas. However, the community united and donated funds to those who had lost them.
Fast forward to 2017, and Dogecoin had climbed to a $2 billion market cap. That amount has since declined, but Dogecoin continues to unite and inform crypto enthusiasts on various issues. One of its creators, Jackson Palmer, warned against its success in a series of press articles during the bull run of 2017-2018. It seems that despite its blossoming success, the joke was momentarily lost on at least one of its founders. Dogecoin’s staggering volatility, poignant moments and lingering humor place it at the top of the list.