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I’m torn on memecoins.

They legitimately feel like a fun new social primitive. Addicting and always something new to talk about with friends.

They’re also a zero sum attention vacuum. I don’t feel good when I pay attention to them.

Memecoins: passing fad or glimpse of the future?

Building /bright-moments - minting onchain art IRL | /purple #15 | FID 129 #magikarp

Rome, Metropolitan City of Rome Capital, Italy

It’s a casino. And casinos have been around for 100’s of years. 

Ain’t going anywhere.

Essentially this + financial nihilism.

It’s mostly young people in crypto. The average young person is short on cash because of cost of living, cost of living housing and student debt. They think “With what I have to invest I need 1000x or more to make a meaningful difference to my life.”

BTC and ETH aren’t going to do that any more. They don’t know enough about the space to successfully invest in fundamentals of other coins/tokens but they know memes. 

And if they lose some money investing in a rug, well their life isn’t meaningfully more difficult than it was before.

Essentially this + financial nihilism.

It’s mostly young people in crypto. The average young person is short on cash because of cost of living, cost of living housing and student debt. They think “With what I have to invest I need 1000x or more to make a meaningful difference to my life.”

BTC and ETH aren’t going to do that any more. They don’t know enough about the space to successfully invest in fundamentals of other coins/tokens but they know memes. 

And if they lose some money investing in a rug, well their life isn’t meaningfully more difficult than it was before.

https://warpcast.com/apex777.eth/0x4cf0b6e8