a lot of memecoin critics don’t realize that the quiet part they’re saying out loud is “I don’t find the utility of making money very useful” which says a lot 

not a good or a bad thing, it is what it is

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Most people lose money gambling. This holds true for casinos, sports betting, horse races, etc. I haven’t seen stats on whether it applies to memecoins specifically, but I have to assume yes. Hard to say that their utility is “making money” if so

FWIW I don’t think we should ban them, I just wish crypto was less about games where you don’t wanna be the one holding the bag

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Sports betting and horse racing also benefit from asymmetric info but that’s a tangent

I personally don’t look down on people who trade them! I def look down on people who mischatacterize what they are (promising returns, shilling tokens before rugging; _not_ what you’re doing right now, this is just a convo), and I like to push back on people who paint them in an overly positive light

yes, but that doesn’t mean that we need to look down on people who participate. permissionless systems mean that others may do things we don’t like, it is what it is.

I think one difference is that there is a degree of skill involved in memecoins, mostly related to your ability to gather asymmetric information. if it was just luck, there wouldn’t be traders who dedicate their time specifically to those assets. but yes broadly it is in a similar category, agreed.

re: banning them, I mean it’s not really possible so not worth spending too much time debating imo