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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@juli
Ps: you are the perfect caster. The half-true, very strong statements, sometimes offensive posts remind me of other crypto twitter influencers who trigger a response & a lot of engagement 😄 (But I avoid them these days because they aren’t actually looking for truth, interested in changing their perspective and hence it’s not worth a discussion)
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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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