Varun Srinivasan pfp
Varun Srinivasan
@v
Are memecoins good or bad? I think they sit somewhere in the triangle between buying pokemon cards and going to the casino and day trading. I don't personally don't do much of those things, but I understand the appeal and don't think we need to shame people who do it.
35 replies
18 recasts
143 reactions
timdaub pfp
timdaub
@timdaub.eth
btw not shaming memecoin traders mostly concerned with Ethereum‘s fee accrual coming from the memecoin industrial complex, more details: https://ethereum-magicians.org/t/how-can-we-steer-ethereum-away-from-exclusively-making-income-from-memecoin-trading/23276
1 reply
0 recast
6 reactions
JR ↑ pfp
JR ↑
@juli
You’re 3 years late. Eth generated all its fees from meme trading & the whole eco celebrated the burn in 2021. Since, resources were put into scaling Ethereum, cheap blockspace, reducing MEV, growing economies & demand drivers for $eth. Today we can export $ETH & bootstrap economies that use $ETH as money/collateral without hyperfocusing on l1 revenues, “farming endusers” & them overpaying for blockspace. Startups, new chains need to make revenues to fund growth, become an economy with more demand drivers. Ethereum would be stupid to go back to rev focus instead of growing & enabling its economy with security, sound money, new utility/demand drivers. (> it’s so ridiculous that crypto influencers celebrated MEV extracted on Sol as rev and compare to decreasing MEV extraction, rev on Eth.) Note: mix is key! - You can pay for security via inflation or fees. Enduser xp should be best! - What’s biggest $eth demand driver? New economies long-term? Short-term maybe staking rate & Inst investor demand?
0 reply
0 recast
4 reactions