teddit

half-baked thoughts on current FC memecoin mania (of which i am a passive participant):

the key difference b/w what's going on here vs pump.fun / X is our access and exposure; we get to be early and early more often because AI has made it easy for anyone to spin up a memecoin and get distribution all-in-one.

more early access = more wealth, so ofc it will be embraced esp by those getting early access; there are still in vs out group dynamics.

otherwise, its the same primitive (casino) just with enhanced features that improve trading efficiency; the built-in social context makes us trade more quickly and confidently bc we save time not switching from tiktok to X to pump.fun, verifying social handles, etc.

degen and anon are most interesting to me due to their application (innovation; social tipping + zk account access) and integration (growth hack). note both were airdropped based on proof of commitment: degen for early active FC users, anon for supercast paid users.

these are exceptions, not the norm.

"Eye-popping returns, naturally, cause two subsequent reactions: FOMO from those who didn’t generate 195% returns, and pride from those who did. The former is the foundation of every bubble ever: you see someone made a lot of money buying a thing and, after resisting for months, you capitulate and throw some money in as well. Then someone else does. ... That’s FOMO. 

The latter group however, is the one I find more intriguing: What if, instead of chasing the FOMO, you were ahead of it? What if you’re the one who made “f*ck you money” on a trade gone right? If that’s you, you’re actually in a more dangerous position than your FOMO-chasing counterparts, because money easily made is easily lost, and the only thing worse than not making life-changing money is losing the life-changing money that you just made."

- from Young Money newsletter by Jack Raines

Why is it so hard to hold on to the money we made?

maxxing on /morpho 🦋 | pursuing a higher self w /higher-athletics | consistently curious

bc often that money is made via luck not skill but our ego thinks it’s skill

as they say: everybody makes money in a bull market🤠

luck comes to those who are trying….

but also once you hit the desired number, the mindset should probably change

Also the notional value is often just in USD, to actually realize it on semi-liquid assets is a much different thing. But speculative traders also seem to prefer the volatility that comes with this!

I try to ignore the fake numbers on my screen, unless it’s eth or USDC or sol