Jesse Pollak on Farcaster

Jesse Pollak pfp

@jesse.base.eth

I strongly disagree with Vitalik that pump is bad. pump is a nascent form of content moving onchain — thereby letting it be valued and creating real value that can flow to creators and curators who can identify content value early. there's absolutely things *around* pump (and other asset classes + venues) that are bad (e.g. people manipulating markets), but I think it's actively harmful to denigrate pump itself. onchain creativity is good — and pump has been pioneering. thank you to @alon and team for their leadership 🫡

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jacopo.eth pfp

disagree — pump is short-term euphoria with long-term, ecosystem-wide side effects. we should absolutely keep using tokens in innovative ways to reward onchain creators and curators. but we shouldn’t socially align ethereum with speculation — it undermines the broader vision and turns away the people we need most. https://warpcast.com/jacopo.eth/0xf6f6791e

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0xmons ✝️ pfp

what valuable work do u think the ppl who make these tokens are contributing? like what is the actual "content"? the name/ticker/image?

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Ox Bid pfp

100% agree with you Jesse — Pump created a new category and opened up tokenization for everyone. It’s a step toward a free economy and broader access to funding for creators, traders and builders around the world

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Fots pfp

i think the pump is not bad itself. the main problem was the livestream feature with the lack of moderation that lead to promote harassment behavior. i believe it’s great tool, which was used in wrong way, but it still promoted solana and helped to start this bull run. we can’t rate the app by a few stupid people

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Daniel Fernandes pfp

Daniel Fernandes

no, the livestreaming video platform they built where ppl literally shot themselves on camera is not a thing "around" pump. Having video livestreams without having real-time policing and moderation is just actively stupid given the history of video livestreaming on Twitch, Facebook, etc. I'm not saying go hire a "trust & safety team": Periscope did this right by having impromptu juries vote on whether rules were broken, which allowed them to scale while keeping the platform relatively clean.

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Frank pfp

How can it be good if: - 20% of the total tokens are created by 0.2% of the creators - it is a losing game since graduation is achieved by not even 1% of the tokens - it is a total market manipulation that makes retailers lose money a platform like pump.fun may also be good but pump.fun in itself is absolutely bad for its mechanics. Data here: https://dune.com/jondar/pumpfun

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chinmay.eth pfp

When pump.fun supports @base.base.eth? Clanker is great but the more the merrier.

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terricola pfp

and we wonder why eth price no move. pumpfun showed us a path and eth shamed and ignored.

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based pfp

more based creativity needed

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Iamveetoria.base.eth pfp

Iamveetoria.base.eth

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depatchedmode pfp

I’m not sure pump is bad, but it’s definitely boring/annoying. Not certain what it’s useful for in its current form.

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Jawa pfp

One of the biggest challenges I saw projects face in ‘21 was how to legitimately promote themselves to a crypto native audience. Pump seems designed to tackle that exact problem.

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Preator pfp

Memecoins are "creating real value"? are you kidding us? REAL? VALUE? Bro April fools was 2 weeks ago. Pumpfun is not just bad, it's FUCKING EVIL. Pump&dump manipulated shitcoins are an evil that made so many ppl + capital leave the space and never come back. While making the 0,1% of insiders rich, including pump team. It's disgusting to see Jessie saying thank you to @alon and team for seeding so much grifters and indirectly kicking out so much people from our space, and amplifying the "crypto is scam" narrative. @jesse.base.eth you go out asking people to use crypto on camera to "onboard" 2,5 ppl while pumpfun "offboarded" millions of users and billions of capital from our space. And now you say thank you to them ??? WHAT? Get real Jesse, please

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Jack pfp

Maybe the theoretical premise behind pump can be construed positively, but it practice it's 98% shiesters fleecing normies via market manipulation. Wrapping it in memes is just like all the flashing lights and bright colors in the casinos. Maybe a few people are having a good time, but most of the activity is idiots losing their shirts to the house

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misha 🪨 pfp

@mishaderidder.eth

sorry. pump is cynical online casino. zero sum games of people fighting for the last scraps of what can be extracted of crypto. no creativity there.

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Axelrod pfp

Is it good when most Pumpfuns are extractive. If you haven't trenched on SOL, you won't understand that most of the volume is from bots. Tokens can have $1m vol and still be under $100k mc 30 mins after launch. It's just devs with tools to bundle and farm the volume.

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naaate pfp

Might be good to differentiate: - “inherently good/bad” - vs “more bad outcomes than good, so far” or vice versa Like, is it producing more bad things *around* pump than good? And even if it is, could it still, be good in the long run?

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Kashan Siddiqui pfp

Kashan Siddiqui

How many tokens were launched with actual vision that will not fade away with time? How many tokens created value instead of extracting it?

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pxaxm pfp

it's a net negative, off boarding system. It enriched the 1% and rugged the rest. It's a product with a point-of-view: a pointedly cynical and shallow one.

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