Degen

I like baking /goodbread and building apps on web3 protocols. DevRel @ ENS Labs. gregskril.com

I had a great convo with @greg yesterday.

Memecoins are fine as long as everyone understands they're a zero-sum game. Those can be fun! People enjoy slots and poker too! But for for every $1m someone makes, others are losing $1m.

It's wrong to pitch them as a wealth-building opportunity.

Real World Ethereum 🌎 
building /daimo ✳️ 

> How do you know

ObamaSonic420Inu starts at $0 market cap, and it ends at $0 market cap. In between, a lot might happen. There's a power-law to returns, so even tho the sum total is $0 exactly, the *number* of people who end up net-down is much larger than the number people (largely those in early) who are net-up.

There's this idea popularized with GME a few years ago, that meme assets can be a populist vehicle to mass wealth creation. "ape together strong" / "3 3" etc. This is very cynical. Don't be someone's exit liquidity.

> But Bitcoin starTed As A MeMeCoIN ToO

There's a tiny set of of assets like ETH and BTC that have a shot at being valuable in the year 2100--joining gold and silver in the pantheon of permanent monetary premium. Dog Wif Hat is not one of them.