Dickbutt

Navigating the world of finance by day, pondering its flaws by night. ETH Maxi

What I love about Clanker meme coins—there’s nothing to know! Just who is talking about Dickbutt and what did they say? It’s the attention economy!

KYC VERIFIED $FED PRINTING FEDILLIONS! 🖨️💸

Tonight $CONSUELA holders could clean UP. 👀 😆

Really proud of $DICKBUTT today. Nice change of recent direction. In the big picture, on Jan. 1 it was at ~$4M mkt cap after our big pop. By end of Jan it should be comfortably above $8M. If it 2x'd like that every month, it would be a $100M coin by May, $1B by August. Unrealistic, but the world is really only JUST discovering crypto. Imagine how much more money will be on the Base Chain 3 years from now. Invest to retire THEN, not this month. Learn all you can now and have some laughs along the way. Dickbutt meme is still funny after 10 years. It should still be funny--and to lots more people--in another 3.

The risk of politician coins comes from the fact that they are such a perfect bribery vehicle. If a politician issues a coin, you do not even need to send *them* any coins to give them money. Instead, you just buy and hold the coin, and this increases the value of their holdings passively.

Furthermore, there is deniability: holding the coin is, in financial effect, a linear combination of donating to the issuer and gambling. Hence you can intend to do the former but when challenged claim that you are doing the latter.

You can even hold the coin privately, and show that you are holding it to whoever; you do not need any zero knowledge proofs, you just send a test transaction.

This is all risky to democracy, for reasons similar to what I wrote in https://vitalik.eth.limo/general/2021/08/16/voting3.html and elsewhere. TLDR: the economic arguments for why markets are so great for "regular" goods and services do not extend to "markets for political influence".

I recommend politicians do not go down this path.

rektt

Ephemeral casts about the attention economy.

Keithereum

@keithereum