Tarun Chitra
@pinged
I feel dumber every time I read an investor writing about memecoins and trying to intellectualize it as a place for long-term investments; real 2017 ICO energy
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Monteluna
@monteluna
Reductionism vs emergence.
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lucky
@lsankar.eth
he said reductively
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Monteluna
@monteluna
Who? I'm just saying you can't intellectualize it. Its pure emergent phenomenon. No simple explanation, no closed form solutions, no models, no balance sheet. Memecoins are just monetizing an ensemble bulk of random stupidity.
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lucky
@lsankar.eth
stupidity?
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Monteluna
@monteluna
You think people aping into "niggawifhat" is not stupidity?
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lucky
@lsankar.eth
didn’t say that! Certainly there are stupid behaviors in the category
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Monteluna
@monteluna
True, I'm definitely generalizing. The only thing I would even remotely take as a good explanation of memecoins is it's a more functional prediction market for attention. Why bet on Biden in a PM with 2/1 odds when you can go "Boden" and your upside is infinite?
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Monteluna
@monteluna
This honestly is the only thing I can think of as why memecoins have value. Take any event, category, or topic, and make it a memecoin. Spending money on market making that thing is probably cheaper than advertising. US Presidents will be deploying memecoin liquidity as marketing spend by 2032, calling it now.
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Cat
@catdrivingcar
Meow
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