Idk what clearer evidence you need that this space is dominated by gamblers & cults over investors & economic sustainability:

Trump announces a serious DeFi project, limited demand. Trump meme token with awful tokenomics? To the moon!

/ethereum foundation | opinions are my own but more than likely they come from Vitalik's blog paragraph.xyz/@chaskin

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

Do you think this will still be true in 100 years?

humans are predictably irrational. the market needs better algorithms, not emotions

dune

Over the last few days I wanted to focus on the coins trying to capitalize on Trump and Melania's launch in the Solana ecosystem. I call these grifter coins because that's exactly what they are. Their purpose is to confuse people who aren't as experienced with spotting or dealing with onchain nuances. By selecting Solana as the network of choice, Trump's team also brought with it those who both believe & exploit his ideology around buzz words.

I made a Dune dashboard to track these commonly used words, in addition to surfacing the coins piggybacking on Trump's name. 

Some additional takeaways👇

⚫️ The volume of Solana mints has fallen drastically over the last few days since Trump's coin launch.

⚫️ Trump's name is still the most used and exploited by a wide margin

⚫️ World Liberty Financial, who is heavily associated with Trump has the most spoof coins associated with the word 'liberty'

https://dune.com/consultingdaos/solana-grifter-coins

Grifter gonna grift
https://warpcast.com/adam-/0x4221ecd3

"Dominated" doesn't seem like the right word. "Infested" seems more accurate.

None of the people causing that garbage to pump are "winners". There exist social networks where degen garbage is amplified to be maximally extractive and harmful to its users. I'm glad to not participate in those spaces. Their time is limited.

both ETH virtue-signalers and the Democrat Party fell for a really simple rule of markets and politics

any publicity is good publicity. 
electing to purge attention in lieu of unflatteringly negative attention is certainly an option, 
but it's a distinct, immeasurable tradeoff
of popular standing for subjective fidelity.

retreat is an option?

you're all griping ethics or cheerfully putting on a Milady pfp, 
because there is an incentive & outcome, 
however simplistic, 
for as many impressions that parasocially validate 
that sense of fulfillment going to your lizard brain.

bro never played the oregon trail and it shows

It's astonishing how hype can overshadow fundamentals; it seems like meme culture is dictating market movements nowadays. Long-term value should be the focus, not fleeting popularity.