tldr (tim reilly)
@tldr
I think memecoins will play out like the Internet Bubble: 1. The many projects that do nothing — yet with spectacular speed and hype — will indeed make short term money. 2. The very few projects that do actually something interesting will change the world in a big way. https://x.com/internetphysics/status/1884828445194018830?s=46&t=jfFbiO6yqIgiuy-BqPaNpg
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nick
@nickysap
People say this every cycle. Just replace memes with NFTs, ICOs, etc. It’s true but the stars still must align for the 0.01% of projects that fit the criteria. Getting through aggressive bear markets is not easy, even for the best projects.
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tldr (tim reilly)
@tldr
Agree. Aiming to cash out and aiming to create something enduring are both possible outcomes here, w very different probabilities Wild that Ethereum was an ICO. (tbd if any NFT projects become actually important) My point is: it’s best to know which one you’re trying be / which one you’re trying to bet on
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alex 🎩
@proxystudio.eth
@nickysap I've also seen people hoping for this for so long, and crypto repeatedly rewards the short term grift over the longer term value proposition but a different path is open to us, I refuse to accept that crypto will always be irrelevant to most people. thats us losing, every big coin going down a lot. current structure of crypto markets + regulatory environment feels like a unique set up to see what @tldr is describing play out. we need to build better launchpad and token mechanisms, and to connect them with our social graph & networks
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nick
@nickysap
i sincerely hope this time is different. the dynamics certainly are, i agree.
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