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Cooki
@cooki
While I don't like Solana very much I think this is silly. Pump dot fun is basically the only unique-ish Solana app to hit real pmf. Yes they have other stuff going on but it's either not unique (defi), or lacks traction (depin). To argue that it's "parasitic" is, as I say below, confused and needlessly zero-sum. Of course it would be better for Solana if they didn't mercilessly dump their earnings but they're operating under their own incentives, and their presence on the chain makes the whole ecosystem significantly more valuable than the counter-factual where they're somewhere else. Stop with the zero-sum, parasitic, mindset. https://twitter.com/ReshapeTech/status/1866529813734809688
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Catch0x22
@catch0x22
bit funny that all the people who cry about ETH foundation selling won't say anything about pump fun selling it is -EV unless they're working behind the scenes and reinvesting that sol, not sure about that tho I'd assume so
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Cooki
@cooki
I mean yeah, part of the reason I dislike Solana is 'cos the culture seems rotten to it's core. Intellectual dishonesty is championed from the top down. 🤮 I don't think it is -EV for them tho, they've bought so many users onto their chain that wouldn't have otherwise been there. In my opinion it's about network effects rather than short-term price action. Also, their ethos around SOL the asset is that it isn't money and shouldn't be that valuable. I think this is wrong, but that's how they view it, and so they're right this is fine and good.
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Catch0x22
@catch0x22
couldn't agree more, that's always been my grief with sol. they do it well tho and get ppl talking, really any chain could have done it yeah it isn't -EV for them but it hasn't been good for crypto overall. good for web3 not for crypto but it is what it is. there's still lots of good that does come from sol, feel like they made crypto cool for zoomers. just needs to be reeled in with more core crypto ethics like security well toly pays his tax lol so it is an asset at the very least
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