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basil
@itsbasil
a lot of people are talking about how this cycle is different how we’re seeing these little meta bubbles emerge that span no more than six weeks before crashing down how we used to at least take the stairs up before free falling in the elevator now it’s almost always an elevator round trip, but why? the obvious reason is pre-inaugural uncertainty & volatility, but this is too easy of a cop out for me to me, this feels more like normal industry progression; like the industry is maturing except, just like everything else in crypto, this means the opposite not only does it mean that the novelty is gone, but more importantly, that the belief is too the multicyle folks simply no longer care: not about the big picture, not about changing the world—a truth too few & far inbetween they’ve read this story before, in fact, many times over & they know that the hero always dies in the end so they are no longer here for the tech & they are no longer here for a long time they are only here to make it
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basil
@itsbasil
this leads to aggressive profit taking by those who have seen others make it in the cycles before—why not me, they ask they do not want to round trip again & they know that the token they’re holding is worthless outside of belief belief, that they were sold on last cycle; belief, that has continuously been proven to be fragile at best but what about the newcomers? ser, what newcomers? we are all 35 the new entrants that do find their way into crypto end up trading “weener token” on solana where they inevitably get rekt by those who have come before they are certainly not here for the tech so what can we do? how can we combat our fragile belief system? the answer, i believe, is to kill the belief system in its entirety it’s time to provide value, not promises; utility, not hype; deflationary tokenomics, not memes we win here by creating a safe heaven; by giving folks on base a place to go to park their tokens a place where devs are shipping & tangible value is produced, not belief
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aldiruss.base.eth🎩
@aldirus
its so over
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OTTI🎨🖌🎩
@toyboy.eth
We are so late🥲
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Rundle 🍖
@rundle
I was just reading a take by someone else and having these exact thoughts prior to reading your posts (though my thoughts definitely not as well articulated Feels like everyone is "top-shy" this time around and so more people are happy rapidly taking profits That could be a signal we're nowhere near the top, or (more likely) just a signal that the top is not gonna be anywhere near as high That being said I'm not sure I agree with the idea of doing away with the belief model I think there is value in holding that, even if that means separating it from the p&d meta tied to crypto The tech is there to change the world, are the enough people who not only have the belief in that, but also have the capacity to do something about it?
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@nickysap
Agreed on all. However this dynamic won’t shift before this cycle ends, IMO. “There’s always next time”
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Trebor🎩🟡
@trebor69
Sad but true
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@catch0x22
man this is so spot on.
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@olystuart
Every bull market is one narrative, mini crash, next narrative, mini crash, hopium, crash. But each little crash is higher than the last one until the whole bubble pops. I don't think it's any different this time.
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