brypto

Frictionless capital formation without fundamentals devolves into nihilism

We can’t rely anymore on friction acting as a gatekeeper

So we need some other way to parse signal (might it involve an open social graph?)

Hopefully everyone learned a lesson from the painful days we’ve had the last few weeks. 

I did…

I learned to believe in nothing on Solana.

Beyond the insane over reactions to micro movements on majors, the community is EXTREMELY cannibalistic. People simply don’t want others…

bizzy

Frictionless capital formation without fundamentals devolves into nihilism

We can’t rely anymore on friction acting as a gatekeeper

So we need some other way to parse signal (might it involve an open social graph?)

https://x.com/0xbizzy/status/1884712491285938557?s=46

It’s funny because I definitely feel the nihilism myself and yet am able to stave it off by connecting with certain people who actually want to use the tech to do more than get rich.

So social graph makes sense.  And crypto speed running to late-stage capitalism is a feature, not a bug.

I think it'll come down to traditional evaluation through a cultural lens. There just hasn't been any breakouts to signal this new dynamic yet so people keep playing like its a casino on steroids

when high transaction fees are a feature, not a bug.

without fundamentals, frictionless capital becomes a double-edged sword.

Exaggerating the metaphor rather than burying its fictions might just get us closer.