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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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Trigs
@trigs
I agree! I'm focusing on the narrative side right now, I think we need a new story to tell to reinvigorate a movement towards all the projects and builders who aren't playing the same old games with a new twist.
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Josh Linder
@jcl
Please keep us posted on what you come up with lol!
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Trigs
@trigs
Will do! It'll all be right here and on paragraph: https://paragraph.xyz/@trigs https://paragraph.xyz/@Nearchos
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