a lot of memecoin critics don’t realize that the quiet part they’re saying out loud is “I don’t find the utility of making money very useful” which says a lot 

not a good or a bad thing, it is what it is

Idk man memecoins fail the three traits of money-ness, so I don't think that's super valid tbh.

building /juicebox | product marketing & growth | prev. NounsDAO, RAW DAO | learning to code

Founder, designer, & product guy at /basepaint and /eigenlayer

people swap coins for majors or stables, with the goal of obtaining more than they put in.

don’t think many folks advocate for memecoins as long-term stores of value.

Oh, I'm an idiot, I read "making" as "creating money," not "earning money." Ignore me.

Still think this is dubious though! At least if the profitability of pump.fun accounts is any guide, it's not rejecting the utility of making money. It's rejecting utility of the illusion of potentially making money lol

I'm a huge fan of making money. Not super into slot machines tho.

yeah I actually agree re: pump, but don’t think those patterns represent the sector as a whole

and regardless, it is certainly gambling. no question there.