timdaub
@timdaub.eth
The memecoins that made people money on here were technical innovations - Clanker (intrinsic value of the launch pad) - Degen (tipping on FC) - etc All other pure memecoins were pure luck if you exited them profitable.
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@juli
they performed better because Farcasters & big crypto investors like to buy into utility, good KPIs, good stories & CEX listings (degen as farcaster payment coin; tipping is just a distribution tool - no value accrual; one could even say degen building an l3 destroyed value) People also lost more money on Anon & tech builder (meme) coins due to believing in serious project & value than in a pure meme. At this moment you may also realize that there’s no difference if you start as a 0 value meme or as a high-caliber tech project and it simply depends on the founders, the community what is built, what value is created, captured, forwarded and the line bw meme<>utility coins is blurry (which makes it so dumb to generally shit on memes). None of them forwards revenues to holders so far. Some have more utility & demand drivers than others. I’ll happily back good teams, fair-launched (meme) projects, ambitious projects, real value-add - if I see upside. Not a fan of overpromises or private invests in crypto.
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timdaub
@timdaub.eth
I think you are intentionally misconstruing the value equation of coins in favor of making it more justifiable to invest in meme coins. When you buy ETH or SOL, u can stake it and you just have to wait and keep your nodes running for several years until you have made the USD value of your initial investment back. In that sense, Ethereum is really not a meme coin. It has intrinsic value. There are a lot of people who want to use Ethereum and it is essentially just mechanistic arbitrage that the price of Ethereum follows how many fees can be accrued to its stakers. So if you are muddying the water between this and some bullshit meme coin that scammers are launching all over the place, you are doing a disservice to everybody, but especially to the people who don't know a lot about cryptocurrency at the moment and who are still learning. The reason why all serious seed stage investors want contracts to be signed is for the very reason that they don't want to be left holding the bag for unaccountable scamming.
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@juli
ETH & SOL: You stake & make the invest back? Maybe in $eth but not in usd: that’s speculation about other people investing &or additional 100x adoption. Where is money coming from? It’s redistribution of value aka taxation of users & holders that don’t stake - as user activity isn’t enough to pay rewards. A blockchain network can be designed to pay staking validator from inflation or tx fees (as you hint) but a big economy shouldn’t focus on rev but overall demand! Where’s the big demand to use ethereum? Mechanistic arbitrage 🤣 PLEASE don’t value $eth according to fees accrued to stakers. That’s the biggest disservice to Ethereum. It’s gonna sell off 99% if it’s assessed like startups on BS Revenue metrics when it’s a complex system where incentives & demand drivers can be finetuned for $eth. All I see is a moral highstand & half-baked arguments prob due to lack of knowledge with tokens, trading, business, flows. So, I’ll stop engaging here. https://warpcast.com/juli/0xdd90f029
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@juli
Ps: You mistake me for a meme guy when I’m prob the biggest fundamentals guy in all of crypto that literally tried to educate everyone on blockchains and later on DeFi with my comparison websites. Unfortunately, it’s backfiring now with smart salesmen handpicking shit or single KPIs like revenue, addresses, Tvl that fit their own bags and narratives without analyzing overall complex systems, value creation, value accrual (better than capture) and it’s not even worth to dismantle any argument because nobody cares for anything except price (or personal finance account) go up or win the argument for the argument’s sake.
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