timdaub
@timdaub.eth
The DEGEN narrative that this coin‘s usefulness is derived from its many users and hence serves as a medium of exchange is a false perception on the part of its whales. 1. The DEGEN whales are all right on the bell curve and for them their massive holdings of DEGEN present a unique opportunity to spend and gain further in fiat value to increase their networth significantly. For them, any DEGEN accepting vendor is a checkmark in their thesis. 2. This is precisely, however, not true for the majority of DEGEN holders which whales make out to be where the network value of the token resides. If I as a pleb hold just 300 to a thousand bucks in DEGEN and it exposes me to volatility, I‘m obviously grateful for the gains, and not very risk-averse towards the losses. But I do become risk-averse pretty easily when my hard-earned money is rugged from the coin in downturns, when it is preserved mostly in bluechips. Small DEGEN holder balances are dust, not potential.
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flea
@flea
Sort of applicable to 99% of the entire space, no?
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