Memecoin hatred is the latest episode in a long running series called “I’m not wrong, the market is wrong”

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

The vibe on FC is very positive!

Other socials, not so much 😐

who is hating on memecoins?

tbh seems like mostly everybody loves them right now

Sad state of affairs when the solution to regulatory risk is to make an asset *less* clearly valuable, but spot on assessment of the situation in 2024.

Hopefully this will change sooner rather than later.

memecoins would not be as prevalent if more of the tech wasn't afraid to issue coins. More people would speculate on tech if possible, but regs make teams afraid to issue

Bring in Web3 for the last thirteen years has taught me that my initial instinct on something is usually wrong

A huge amount of real world stuff that humans buy has no real utility anyway. Personally I'd rather buy memecoins than some Balenciaga trainers or whatever.

I did this with the NFT hype, I was able to catch myself this time and embrace the degen in my bones

Anything hard to traditionally value is always dismissed.

Just cause you don’t have the tools to value something, doesn’t mean it’s not valuable

Markets define value

Probably most go to zero, but…. https://warpcast.com/big-bully.eth/0x873d610c

"I'm not wrong market is wrong" is about wrongly predicting where the market will go.

I'd say many of us who dislike memecoin culture know this happens often in crypto. But that doesn't make us any less disappointed in people who shill them.