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Trigs
@trigs
Very well articulated criticism of why meme coins are not an "investment vehicle" to support early dev projects. You have to look at the power dynamics to fully grok it: - platform is collecting most of the trading fees - asymmetric information benefits extractive trading - "investors" have zero rights, guarantees, or protections - projects that are better at stimulating drama that causes trading generate more revenue than projects that just focus on heads down grinding - zero revenue potential for the meme tokenomics means inevitably no return on investment unless you do extractive trading - the more committed you are to helping the project the more likely you are to end up dumped on in the end The system is designed to make sure the system profits. Just like any good casino, the house always wins.
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Josh Linder
@jcl
Excellent summary. We can't seem to get away from building retail honeypots that are targets for extractive trading. Im having a hard time feeling like we've moved far beyond OHM. We could develop/use better frameworks, but the demand doesn't seem to be there...
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Vinay Vasanji
@vinayvasanji.eth
Spot on, its why I'm so optimistic about /revnet It aligns everyone involved without gimmicks - primer here https://jango.eth.limo/9E01E72C-6028-48B7-AD04-F25393307132/ cc @jango.eth
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timdaub
@timdaub.eth
couldn‘t have said it better
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