basil
@itsbasil
memecoins set crypto back 3 years but i’m glad 800 people made a few $100k at the expense of 250,000+ people this is one of the biggest misunderstandings about crypto: if you build it, they will come they won’t, not anymore because you, as a leader, leaned into garbage over & over & over again & more than 95% of people who followed you lost money they are not coming back, ever good luck with the onboarding tho [insert meme: well if isn’t the consequences of my own actions]
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Spaceman Spiff 🎩🍖
@spaceman-spiff
The first thing humans seem to do with new tech is porn and gambling. See the .com boom and early perceptions of the internet. The edge cases and outcast are usually the early adaptors because the system isn't working for them, perception is already against these groups/ systems. The previous US administration stifled a lot of innovation by targeting good actors and forcing many people in the industry to move into this narrow meme space to avoid their wrath during that time. Some gamblers and curious people got hurt in that cycle, that is true. My question for you: What happens when actual profitable crypto creations can start turning the fee switches on and adding value to their meme "governance tokens"? My thesis is that people will come back when the incentives are aligned. It appears we are entering a period where the good actors that spent a lot of time and energy fighting for their lives can now focus on building again, that makes me bullish.
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basil
@itsbasil
i’m with you & believe it’s inevitable, particularly as new novel unlocks become available & better systems emerge this, of course, will only happen with complete abstract due to our own historical mishaps more to that end, founders here now have to work twice as hard for half the reward & there is no saying when that zeitgeist will flip we can blame regulation, and i agree that is was a big factor in the shitcoin era, but we’ve built a lot of this shit already in 2019-2020 & it all collapsed into greed either way, i’m more so saying that we can only blame ourselves & a quick look at history will show you that it’s always ended one way despite any breakthroughs so maybe this time is different & i hope that it is, but generally, that hasn’t been the case not in almost 10 years of history the reality is that our leaders have burned bridges that may not be repairable leaving full abstraction as the only path forward
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