shazow
@shazow.eth
When people are upset about crypto casinos, they're actually upset about three things: Extractive high-churn short-duration games. Extractive because the house walks away with $500M+ in profits regardless of the outcome, high churn because almost everyone loses dramatically, short duration because it happens on a timescale of minutes to days. It is the polar opposite of this:
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Draiælle
@drai
Agree, but I think calling it a casino gives it too much credit, at least the rules are clear at a casino, the pvp makes it a bit different too It's high stakes musical chairs imo
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shazow
@shazow.eth
Yea fair, was hesitant to use the term casino but that's what a lot of people call it. 🙃
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Leeward Bound
@leewardbound
when i see it, i like to remind people that, in addition to being regulated, transparent, and manipulation-resistant (pvp collusion is against the rules and actively policed), casinos are also required to put out gambling addiction support materials and while everyone knows that a casino is a "bad deal" (eg the house always wins), memecoin launchers are actively pushing the idea that if you lose, it's an unforced player error, not due an overall rigged game
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Draiælle
@drai
💯, exactly!
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shazow
@shazow.eth
mostly agree, but i do think it's very murky and we're still discovering the boundaries of memecoins (maybe there's something else downstream?). end of the day, it's kinda like begging "ethereum needs to be more friendly to abusive payday loan providers" or something... it doesn't discredit the premise of loans, but just because bad actors are amazing at pulling in victims it does not mean that we should optimize for more bad actors.
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