Venomsagar.base.eth
@sgrkr
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
22 replies
53 recasts
270 reactions
...
This was a perverse distortion of incentives, and a key reason @GaryGensler must never be christened as a hero, even among crypto skeptics. Everything that happened in crypto was in part a response, part compliance part rebellion, to these pressures.
Over the last year, we have been entering a new order. Now, the most powerful people in the world are cheering on the idea of anyone creating tokens for anything, at any scale.
And so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building. It is not about "fun is bad", it is about the equivalent of modern hyperaddictive cellphone games, versus chess or World of Warcraft.
Now is the time to talk about how large-scale political coins cross a further line: they are not just sources of fun, whose harm is contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states.
... 4 replies
11 recasts
97 reactions
Reposting a note comparing some aspects of the current crypto space to weed that I made on the other app:
-----
Ten years ago, to many weed represented freedom, and rebellion against sclerotic old order that denied self-sovereignty over our bodies. Then, weed became legalized, and "official".
On that day, I remember my personal interest in weed dropping by > 2x overnight.
And since then, public discourse is moving toward a balanced view of weed: it is much less harmful than alcohol and smoking, and has valuable medical uses, but it is also far from harmless, especially in its modern corporate hyper-optimized versions.
Crypto finance is similar. In the old order, @GaryGensler created a regime where tokens that give investors clear indication of what their rights are and where their revenue comes from is a "security", but obfuscated "governance tokens" are potentially in the clear.
... 8 replies
28 recasts
168 reactions
10 replies
227 recasts
428 reactions
914 replies
11086 recasts
11380 reactions
0 reply
0 recast
0 reaction
6 replies
364 recasts
562 reactions
0 reply
0 recast
0 reaction
19 replies
1375 recasts
1012 reactions
16 replies
1004 recasts
708 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
200 replies
4333 recasts
2886 reactions
4 replies
185 recasts
323 reactions
6 replies
92 recasts
355 reactions
118 replies
6341 recasts
6707 reactions
0 reply
0 recast
0 reaction
