Maxbrain Capital on Warpcast

Dan Romero pfp

Massive Overton Window shifting events create massive new surface areas for opportunity. Will be a chaotic, weird and exhausting year. Buckle up.

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sean pfp

I’m not sure memecoins is the shift we want. It was supposed to be crypto reserves and institutional DeFi. Those things can last and be positive-sum.

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Dan Romero pfp

The shift is “everything that can be a token will be a token”. Memecoins are just the beginning. This will force regulatory overhaul in US which is the single biggest thing holding back crypto as an industry right now.

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sean pfp

rugpulls don’t help regulatory reform. BitConnect was not good for the industry. Luna was not good for the industry. Not every popular crypto program ends up positive for the industry.

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matthewb.eth pfp

how is $trump a rugpull? use specific examples please

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sean pfp

no other reason for 80% lockup on a memecoin with no utility than to sell from the vast pool you FOMO convinced a bunch of other people to pour their money into and that you own most access shares to this logic applies even with a lockup period. the only caveat would be if they add utility to it before substantial lockups expire

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Maxbrain Capital pfp

Maxbrain Capital

no reason to rug when you have an FDV of $60B...you essentially do anything in your power not to rug? but maybe idk what im talking about.

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sean pfp

They aren't just going to leave the money sitting there - the token does not represent some value-added process or means of exchange for work done. They either add utility to it or it's just a giant pot of everyone's dollars and it's a game as to whom withdraws first while gambling that the pot could get bigger.

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matthewb.eth pfp

so because they will sell their allocation it’s a “rugpull”? following that logic, every VC-backed project of the last several years is also a rugpull.

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sean pfp

If you personally get people to put a bunch of money in a pot and then withdraw most of the funds for yourself they better be investing in some other value-added work you’re doing that you gave them shares in or it’s a rugpull, fast or slow.

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matthewb.eth pfp

I don’t think you can apply value investing frameworks to attention markets like memecoins, apples and oranges and your use of the term “rugpull”, which means a specific thing, is way too broad imo

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sean pfp

There is definitely a big gray area with memecoins. Just using the Farcaster ecosystem as an example, Higher is very much in the memecoin category and took me a while to come around to it, but it was fairly distributed and seems to be a community of optimistic builders that want to help each other. Degen has a lot of memecoin characteristics but is definitely in the utility category, first with tipping and now powering a blockchain. QUIL is very much on the opposite side, spending very little effort on being a meme and focusing entirely on its utility as a network native coin. But so far, memecoins like Trump fall well past this gray area, generating FOMO for its own sake while maintaining a vast amount of centralized control over the supply with the only apparent outcome as extraction of value.

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Maxbrain Capital pfp

Maxbrain Capital

Thats fair..Entertain me on this next one. What if I told you that $trump isn't a "meme coin" and anyone thinking it is, didn't do DD, or doesn't understands the game their playing. What would you say?

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sean pfp

I’d say please explain

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Maxbrain Capital pfp

Maxbrain Capital

Why do I want to trade "meme coins?" The idea is that trading a token thats 100% unlocked, with 100% of the circulating supply available allows for more of an equal opportunity in the sense I don't have to worry about Investors that bought a year ago dumping on my head bc I wasn't aware or I couldn't find the vesting schedule for token unlocks. The market cap should = the FDV, and if this isn't the case, then theres some tokens being held up somewhere, and someone is expecting an unlock at some point. If the liquidity is burned, contract ownership renounced, open source, no tax modifiable, etc resulting in a 100/100 token sniffer score then thats really the perfect world idea of a meme coin imo. Theres variations of this, and some are flat out disguised as a meme coin, but imo aren't really true "meme coins," they're just tokens with unlocks, which isn't terrible or anything, but its just a different thing you know what I'm saying?

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sean pfp

Ah, so according to this definition a memecoin must truly live a life of its own, like a meme? What is $trump in this case?

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