Discover more from Risky Reads
Dogecoin Is Worth Fighting For
THIS Is Why Doge Is An Instrument of Good Against Evil
Lately, Elon Musk has been calling attention to a famous line from Lord of the Rings: “There’s some good in the world Mister Frodo. And it’s worth fighting for.”
His emphasis on the line comes at an interesting historical moment: from a certain perspective, civilization is teetering on the precipice of a 1984-like outcome. Indeed, Elon has been posting Orwell memes all year to accentuate the point.
Let’s take a look at the meaning behind Elon’s two big literary meme obsessions, how Dogecoin is like Frodo from LOTR, and why light is destined to defeat darkness.
Thanks for reading The People’s News for the People’s Coin—𝕏’s leading open-source newspaper.
Are you hearing about Elon Musk a lot these days?
My 𝕏 subscribers and I are reading Walter Isaacson's new biography about Elon Musk to demystify the man behind the Mars mission.
Elon Musk has his finger on the pulse of the Internet.
When he posts a meme, it’s always worth considering the possibility that it represents more than just his personal opinion, and is rather a statement about 𝕏’s group consciousness.
Earlier this month, he posted a powerful Lord of the Rings meme that captured the collective vibe.
The meme contains a line from Lord of the Rings: The Two Towers, and is spoken by Samwise Gamgee during a moment of where Frodo’s faith in his mission wavers.
Last Monday in a discussion about the Israel/Palestine conflict, Elon quoted the line again, arguing that the Americans should be proud of their country’s liberal tradition and history of fighting for the greater good, despite its many misdeeds.
Elon’s involvement with the quote goes back even further.
In March 2022, he posted a meme of the Two Towers scene referencing FBI surveillance (a powerful example of one of America’s less-admirable habits). He followed it up with a screenshot of the full quotation.
Again, the message seemed to be that the good inherent in the American idea is worth fighting for, despite the country’s many shortcomings.
Elon’s fascination with this particular LOTR line is a counterbalance to his other recent literary-meme obsession: George Orwell.
Elon has been posting Orwell memes at an incredible clip this year—I count at least seven.
His message with the Orwell memes is straightforward: totalitarian government control is an increasing threat to people everywhere.
It’s true that reality is belatedly catching up to the fiction of 1984.
Several aspects of life in Western society are trending toward totalitarianism: surveillance, encroachments on bodily autonomy, currency manipulation, a state of constant war, and censorship.
Most of these changes have happened beneath the level of public awareness and without its explicit consent. This is sometimes called the “totalitarian tiptoe”—society is gradually transformed over the course of decades at a sub-perceptual level.
Periodically, these gradual changes are punctuated by dramatic crises like 9/11 or coronavirus, which are used as pretext to enact more obvious violations of civil liberties and do away with old freedoms for good. The use of crises to violate civil rights is self-evidently true whether you think they are accidental or engineered.
The degree to which society is changed over time only becomes evident when the present is compared to deeper history.
For example, contrast the 90s with today: surveillance was non-existent, censorship was anathema, Middle Eastern peace felt like a possibility, and twenty bucks was a lot of money.
The idea that civilization is trending toward 1984 is not fun to contemplate. In darker moods, it’s tempting to give up hope altogether, and dismiss American ideals as irredeemably loss.
Elon’s emphasis of the line from The Two Towers is reminder that despair is not the end.
There is good in the world worth fighting for, and indeed the victory of light over dark is only possible if people decide to fight for the remaining good.
There’s another connection involving Elon, LOTR, and memes that I think ties these ideas together. This one involves Dogecoin.
Back in February 2021, Elon posted an intriguing meme depicting Bitcoin as the all-powerful Master Ring, and Dogecoin as the underdog Frodo.
This meme contains an element of prophecy that was not evident when Elon posted it, but has become clearer over time.
In 2009, Bitcoin began as an instrument of rebellion against the financial elite: a form of money that the banking cartel couldn’t easily manipulate.
But more recently, Bitcoin has been captured and put to work in service of oligarchs and Wall Street money men.
Today, early adopters of Bitcoin find themselves rooting for BlackRock—the largest financial firm in the world—to launch a Bitcoin ETF.
Others giant financial firms are following BlackRock and lining up for SEC approval to launch Bitcoin ETFs.
This outcome would enrich early Bitcoin investors, but is unlikely to kick off a grassroots financial revolution against the money masters that Bitcoiners once envisioned.
In a follow-up comment to the “One Coin To Rule Them All” meme, Elon hinted about where financial revolution could come from: “Doge is underestimated.”
In the context of the meme, I take this to mean that Dogecoin—“the people’s crypto”—and not Bitcoin will challenge the establishment as a form of sovereign cash that can’t be manipulated by the money machine.
Doge’s low price, amazing community, and much wow memetic fun factor means it’s built to onboards millions in to the decentralized crypto system during a moment of financial unrest.
Totalitarian tiptoe is real and scary, and aspects of our civilization increasingly resemble 1984.
Engineers of darkness use the financial system to put increasing stress on the lives of regular people through inflation, debt, and financial surveillance. They can do this because they have unfettered access to levers of monetary control.
There is some good in the world, though, and it’s worth fighting for.
Dogecoin—the people’s crypto, the underdoge, and decentralized digital dollar alternative—is both part of that good, and an instrument to defeat the controllers of the world.
What do you think: is totalitarian tiptoe real? Are we in the middle of a great story of a battle between good and evil?
Does Dogecoin’s evolution mirror the hero’s journey?
And is Doge an instrument for light to defeat darkness?
Meme Analysis: Regretamine
Earlier this week, with Dogecoin pumping past seven cents, Elon responded to a subtle Dogecoin meme.
Here’s my reading of this meme: I think it is extremely bullish. Look closely at what this one is saying:
-Regretamine (medicine to prevent regrets)
-For FOMO (Fear Of Missing Out) prevention buy two dips daily
-Dr. Dog E. Coin
When Dogecoin moons, will you have any regrets?
Dogey Treats: News Bites
Doge-1 has been delayed to January 12, 2024.
Doge Day is November 2nd.
Its was widely reported that Elon told 𝕏 employees he would be shocked if the platform is not able to replicate full banking and financial services by the end of 2024.
Thanks for reading! Consider sending a tip or Subscribing on 𝕏 to help keep the newsletter going!
Memes of the Week
It’s ALL Risky!
Thank you, kind reader, for reading and subscribing to this newsletter. I really appreciate it!
If you haven’t already, please sign up to this email newsletter for more weekly articles like this one. Also, please share it with a friend or on 𝕏 if you enjoyed this article.
What do you think? Is Dogecoin an instrument of light to defeat darkness? Let me know!
Remember, Dogecoin is risky. But then again, it’s all risky!
Follow on 𝕏 at @itsALLrisky
Send an email to itsALLrisky@gmail.com
Send a Doge tip: DJ2zTEdHBD3guHLfVaNBaypr6bHFG5Nwfw
This article was written in collaboration with @CryptoDogDivine, give them a follow!
Don't forget to subscribe to this newsletter!
Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
At the time of publication, Dogecoin is around $0.06 per coin.