Coop on Warpcast

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@coopahtroopa.eth

I believe a big reason FC is not seeing more growth the last few months is due to a lack of interest and acceptance of trading and memecoins being the dominant narrative this cycle. FC's infra is best suited to be the defacto home for token projects and yet we see very very little projects doing so. I understand and appreciate the commitment to building, adoption and sustainability. I also recognize that 99% of memecoins will go to 0 by the end of this cycle. However - the current approach is making FC feel like a place that has an entirely different set of convos, most of which are not currently EV+. I say this all as someone that cares deeply about FC and it's growth but think it's important we recognize that crypto-natives on Twitter do not see value in being on here and that feels like a problem to me in the context of the next 12-24 months. It is unlikely that FC just leapfrogs crypto-native adoption and gets an influx of mainstream users without winning the wider crypto crowd over first.

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ted (not lasso)

dude what x2 imagine someone fading Coop Recs because you don’t worry about what crypto twitter says about you imagine someone doubting that you’re able to grow Coop Recs because you don’t lean into memecoins when onboarding users at midnight diner ps most users who come for memecoins leave (they already did)

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matthewb.eth pfp

it’s not so much that trading and memecoins aren’t being actively discussed or experimented with on FC. they are, just to a much lesser extent than on CT. I believe this reflects the community’s interests at present. rather, the issue that might impact the growth of the network with crypto natives is that memecoins and trading are actively looked down on by many folks here. it’s seen as a less meaningful and lower class of activity as opposed to being a “founder”, developer, or whatever else. in some ways, this is healthy. we shouldn’t be driven purely by speculation and greed. but it’s also at odds with the current direction of the market, and certainly at odds with the culture of CT (for better or worse). that said, this judgemental attitude is really all about power. who can afford to ignore speculation? the answer is pretty obvious. lots of folks on FC are loaded. they’ve already exited companies, worked in big tech, etc. but let’s not pretend this makes someone more noble.

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Matthew pfp

Strongly disagree with the implication that FC should seek approval from the crypto twitter crowd. Who cares what they think? Being the "home of memecoins" is at best hollow growth and at worst a complete turn-off to anyone outside of the tiny existing niche.

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Zinger ↑ is job hunting

Farcaster is a social network protocol. Anyone is free to build apps, frames, actions, etc. to lean into memecoin trading (some are). If you believe that memecoins are so important then go start a channel focused on them and build a community (or join one of the many existing ones).

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I don't think trading memecoins is stigmatized on Farcaster. degen, moxie, ham, higher, etc. there are lots of farcaster tokens and ecosystems that occupy a large share of the conversation on Farcaster. It's moreso IMO that memecoins occupy less share of the conversation *compared to CT* where ~100% of conversation is about memecoins, because people talk about other stuff here too. Which is good for the network

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ted (not lasso)

dude what even if infra is best suited for token projects, twitter and telegram still have many orders of magnitude distribution more and that’s what matters most when it comes to memecoins also let’s be honest: Solana is driving majority of memecoin narrative and Solana community / users aren’t a big % of FC

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erica pfp

this comes across short sighted - farcaster is meant to be bigger than crypto memecoin traders if they pander to the casino/wild west narrative and become branded that way, it is extremely difficult to then become a serious social network that has potential to be internet scale why get distracted by a hype cycle that even you admit will end with most tokens going to 0, and then be stuck as "farmcaster" – which CT already refers to farcaster as today – and give yourself a steep af uphill battle to then shake off that perception when it no longer serves you? this is the epitome of short term gratification at the expense of long term gain

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Dan Romero pfp

Let's assume this is true. What incentive do people into memecoins have to switch to Farcaster? Twitter works well enough for them content wise, and the big accounts have large audiences that took a long time to build. Why start over from zero?

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vrypan |--o--| pfp

Assuming you are right. And that @matthewb is also right and the root cause is that most people here don't put memecoins above building software or companies. I would also argue that Farcaster already offers more crypto-friendly legos than other platforms. What's the action point? I should stop casting about the things I like, and start casting about memecoins? (This comes from someone who considers memecoins a healthy and natural part of the adoption and experimentation curve.)

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