The Value Consensus of Encryption Assets: A Discussion Based on Cultural Communication

The value consensus of digital encryption currencies stems from their unique culture. The value consensus is also known as Meme, and cryptocurrencies are difficult to escape the Meme phenomenon. BTC, as the earliest and largest Meme, achieved self-bootstrapping by directly embedding the core culture into the genesis block.

Restoring on-chain culture and decentralized cultural traditions is a feasible method to return to the spontaneous self-raising of BTC. The emergence of inscriptions such as Ordi and Sats has directly integrated code information into the BTC community, marking the starting point of the BTC Renaissance. The combination of encryption culture and technology, realized through the on-chain content method, is likely to become the development direction of inscriptions 2.0, binding encrypted assets with culture.

The essence of value consensus is Meme

Consensus is divided into technical route consensus and value orientation consensus. Having only technical consensus does not mean having a strong value consensus. For example, although EOS has advanced technology, its value is difficult to enhance. In contrast, Doge, despite lacking technical advantages, has gained high valuation due to factors such as Elon Musk.

The process of reaching a value consensus is also the process of forming a Meme. In the process of BTC coming into existence, not only was a technical consensus established, but more importantly, the foundation of value consensus was laid through concepts like "The Non-State Coinage of Money". The news headline in the genesis block is the seed of value narrative.

The volatility of cryptocurrency prices is hard to escape from the Meme phenomenon. Even utility tokens contain Meme components in their value. In the long run, the value support of tokens comes from believers and long-term holders, and these groups are inspired by culture.

Content On-chain: Capture On-chain Native Attention

On-chain content is a strategy for capturing native attention on the chain. The practice of recording social content in the BTC genesis block permanently preserves and continuously disseminates exquisite narratives, which is a unique way of capturing attention.

Compared to traditional Web2 media, on-chain content has the following advantages:

1. Collect attention through yield-oriented means. On-chain content is like a wealth code, attracting attention from those chasing high returns.

2. Utilize Web3 closed traffic. On-chain space is relatively closed, content is limited but user engagement is high.

3. Achieve comprehensive coupling of assets and content. Content is closely linked to token transactions, making it difficult to separate.

4. The content filtering effect is good. On-chain content like inscriptions has naturally formed a strict filtering mechanism due to high costs.

Social Inscription: The Renaissance of BTC

Social inscriptions are a new type of inscription concept that provides more on-chain space to showcase unique culture by increasing attribute entries. It inherits the development attitude towards the value of BTC script space while exploring the possibilities of on-chain social graphs.

Social inscriptions represent the combination of encryption culture and technology, and are expected to become a new growth point in the BTC ecosystem. It provides new ideas for value creation of Meme tokens, but whether it can create content that carries profound culture will determine its level of development.

In the context of a new bull market, this innovative token issuance mechanism is expected to achieve excess returns in the market. However, social inscriptions also face technical constraints such as resource scarcity on the BTC chain, and its development still requires further exploration.