@alixkun

I think I finally understood something about this. The Coinbase team ran with the assumption that "Donating Money + Potential financial benefit" is more powerful than just "Donating Money". On the paper, it seems mathematically true, but it turns out to be completely wrong. When there's a potential for financial gain, there's an expectation that is created. Because this expectation has been consistently betrayed (most creator coins are underwater), and can actually only be betrayed given that there's no sustainable buying mechanism for each token, the result looks more like "Donating Money + Negative Feeling", which is actually less compelling than just "Donating Money". The negative psychology that is attached to "investment" and "losing money" is powerful. When you feel like you got burnt once, you usually don't wanna get burnt twice, hence the difficulty for this meta to catch any steam.

0 reply

0 recast

1 reaction