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Mikko
@moo
On Pump dot fun streams getting out of a hand, Pump dot fun has two options: 💀 Pump dot fun keeps no moderation, true to the nature of crypto anarchisim, gets closed down fast by police 💀 Pump dot fun closes the streams, and gets closed down later after regulators wrap their heads around of it within few years I advocate for freedom of speech, but these streams are causing practical issues where people are breaking the law in live broadcasts. This will trigger a shutdown when the mainstream media catches a wind on this. It will become an easy target for career politicians and police to go after, and further "crypto is only for criminals" narrative.
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Monteluna
@monteluna
I don't think we need to keep drawing this line of crypto anarchism when it comes to content moderation. The system is just degrading quite clearly to just threatening to do crimes begging for money. Pumpdotfun was stupid brainrot to begin with and it will die as such. There was no true value in global scale weapons grade begging. Teams with real products and a vision for those products don't need a faster way to launch a coin. Not even sure why anyone thought this was a viable product to begin with.
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Mikko
@moo
It makes $3M/day so there is definitely something viable there
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Monteluna
@monteluna
Selling crack would make me $3M a day but you wouldn't catch me doing it. The issue is its not sustainable because you're not creating any product that adds value to existing assets. Its not long term games with long term people. It's watching people who otherwise couldn't add value to society beg for money by doing stupid things.
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Mikko
@moo
The video feed feature is new, only few weeks (days?) old. Two weeks ago Pump dot fun was not about begging money.
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Monteluna
@monteluna
Memecoins with no planned product and leaders with no viable pathway to making one, are just begging for money. The memecoin nonsense will eventually normalize into some kind of social financial clubs and kickbacks for actual creators, but none of them need pumpdotfun. Its just a wrapper around a smart contract deployer. I think the entrepreneurs who can't bother to learn how to manually launch a token without pumpdotfun are probably the last people I want to seed with capital by buying memecoins.
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