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✳️ dcposch on daimo
@dcposch.eth
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.
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✳️ dcposch on daimo
@dcposch.eth
> 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.
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✳️ dcposch on daimo
@dcposch.eth
> 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.
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✳️ dcposch on daimo
@dcposch.eth
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.
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Onedayvk
@onedayvk.eth
Without the meme onboarding would have been much harder. 99% won’t survive the bear market but the one that does could change the narrative. Its still experimental phase and yes lots will lose and few will gain we just need to find the right balance.
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