interesting take by @balajis.eth, would love to see more of these discussions here instead of on X tho

A memecoin is a zero-sum* lottery.

There is no wealth creation. Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything.

* It’s actually negative sum if the platform takes a cut.

Balaji

interesting take by @balajis.eth, would love to see more of these discussions here instead of on X tho

https://x.com/balajis/status/1880981113721819539?t=-mFgDh3cb6PvgW9IrtKvbg&s=19

This is why this is on X and will likely remain on X.
Gotta play a different game

React Native Developer. Experimenting with consumer apps, building /super mobile.