teddit

common fallacy i often see people in crypto make when they see a unique project become successful:

1. first they claim it to be the new standard and/or strategy

2. then they engage with it and evaluate it in the same exact way they would with every other project

both 1 and 2 disregard the uniqueness of the project

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

People often allow a rise in price to influence their opinion of a project instead of relying on their own critical thinking

Because they haven't been living the onchain life, only leeching from web3.
NGMI

an extension of this is people mistaking $degen number go up for some new paradigm of startup financing

i can say this non-saltily as a proudly profitable degen holder

Is this a polite way of saying “a fluke driven by temporal animal spirits”? :)

yeah I think it is hard to make proclamations of a new "playbook" when so many projects and ideas in crypto are still in the primordial formation phase where outcomes are still unproven

isn't this just hindsight bias, there are plenty of projects that employ the same things but it doesn't work...crypto is strange that way