Ultra Sound Money ππ¦
For years Bitcoin has dominated the meme verse, but in March of 2021 the Ultra Sound Money meme took flight.
Bitcoiners have criticized ETH for being inflationary, and therefore not a sound money. But in March 2021, Ethereum had two major upgrades set to change all that. The first is EIP1559 (which went live on August 5th, 2021) and the second is The Merge (which is set to go live sometime between Q1 and Q2 of 2022).
EIP1559
EIP1559 is an update to the Ethereum network that, among other things, will burn part of all transaction fees. Effectively, reducing the total amount of ETH in supply. The total ETH burned can be viewed at ultrasound.money
The Merge
The Merge is an update to Ethereum swaps out the current proof-of-work (PoW) consensus mechanism with a more eco-friendly, efficient, and secure proof-of-stake (PoS) consensus mechanism. The new proof-of-stake system will significantly decrease the amount of issuance (newly printed ETH) thus in combination with EIP1559, likely result in a decreasing total supply.
EIP 1559 + The Merge = Ultra Sound Money
As explained by Kevin OβLeary:
What are the origins of Ultra Sound Money?
Aug 2020βVitalik Buterin jokes about supersonic money
Sep 2020βJustin Drake memes about ultrasound money
Mar 2021βBankless popularizes ultra sound money
Aug 2021 β Justin Drakeβs website ultrasound.money goes live
What is the ππ¦ all about?
On Twitter supporters of the Ultra Sound Money meme put the microphoneπ and batπ¦ emojis in their name to show they are apart of the Ultra Sound Money βfamβ. As of writing, there are 3,750 fam members.
On Twitter:
Final Thoughts:
The Ultra Sound Money Meme has been a block buster success for the Ethereum community. The ππ¦ emojis have brought the community together around a shared idea of how to view ETH the asset. Maybe most importantly, the idea is really easy to understand. So go see for yourself if you can spread the word to one of your friends that ETH is Ultra Sound Money.
Additional Resources:
UltraSound.Money - Fully understand all q&a questions at bottom
Disclosures
Not financial advice. Crypto currencies are risky and you could lose what you put in.