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https://warpcast.com/~/channel/ted
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ted (not lasso)
@ted
for anyone feeling discouraged about the future of crypto, now is a really good time to re-read @matthuang's "The Casino on Mars" 10/10 read https://www.paradigm.xyz/2023/09/casino-on-mars
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triumph
@triumph
that “serious defi project” was KYC restricted to accredited investors🙄 tightass, condescending eth dorks shouting from their ivory tower and no wonder eth has gone sideways forever
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ted (not lasso)
@ted
okay, let’s be a a bit more realistic and a bit less melodramatic. any serious DeFi project in the US that could be considered a security must play by US rules — which includes KYC and accreditation regulations. memecoins are positioned as non-securities so not subject to that. not the fault of “eth dorks.”
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triumph
@triumph
okay then why make the comparison in the first place because they are clearly two extremely different things as you’ve just illustrated in this cast yes there is limited demand for the option restricted to a tiny subset of people and forcing you to give up your privacy yes this space is “dominated by grifters and cults, not investors and economic security” because the former has an order of magnitude of less friction across the board something something, water flows thru the path of least resistance
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ted (not lasso)
@ted
why don’t you ask him directly? i shared a piece about embracing crypto’s casino culture, and pushed back when you replied with something snappy and condescending unrelated to the piece itself and instead related to the underlying quote cast. if you have a problem with him, take it up with him — not me.
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@chaskin.eth
Eth dork is a pretty accurate description of myself tbh
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@chaskin.eth
Not sure why it is controversial to say this space is dominated by gamblers and cults. Just look around, it's literally the thesis memecoin god Murad presented in this talk that started this memecoin cycle. If you want to get rich quick, the easiest way is to spot the narrative early and get out. But let us not pretend it's anything more than identifying a cult early and gambling on it https://www.youtube.com/watch?v=6nqzwdGxTGc
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triumph
@triumph
bc your entire original cast was rooted in a false equivalence yes the memecoin had infinite more demand because it was infinitely more accessible. someone with zero crypto exp could buy it in like…15 seconds. meanwhile the serious defi project was not even OFFERED to 99% of people in the first place. not to mention the simplicity in understanding. ofc the former got much more traction? will also bring your attn to the DM peter got from an EF employee. y’all are *still* obsessed with building the foundation which leaves what current non-speculative uses for avg ppl that are a) easy to do/understand and b) fun? if you don’t want ppl to focus on hyperspeculation and gambling then give them something else accessible to do <3 https://x.com/pet3rpan_/status/1880990746372952573
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@chaskin.eth
1/3 First I want to apologize if I came across as offensive. That was not my intention. I was just pointing out an observation based on my perspective, but I understand it might have been misinterpreted or if you might disagree I think a lot of this boils down to regulation. Launching a memecoin, which essentially means creating a token with no promises or obligations, you're clear to go. On the other hand, launching a token with a long-term plan for value accrual requires navigating a maze of legal challenges, hiring lawyers, and spending a significant amount of money. Even then, you have to either greatly restrict the value accrual mechanisms you intended or limit the offering to accredited investors only, as was the case with Trump’s project
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