David Phelps

@davidphelps

73 Following

842 Followers

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it's important to understand crypto's two sides: the degens and the nerds. you can't trust any of the degens because they're all getting paid 500k/month to pump shitters but you also can't trust the nerds because we've all spent our net worth on 5k angel checks into $0 infra

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vote and earn: sol vs hype. buy up as many votes as you like for your pick. 70% goes into a rewards pool for voting on the winner. this is a flash-contest, open only until 5pm ET (just 30 minutes!), so you need move fast to earn https://jokerace.io/contest/arbitrumone/0xe85cb81d4bf0549e07f1fdcf9de60cba2dfdef80

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people who lose all their money in real casinos have the time of their life. they get free drinks. new friends. tickets to a showgirl extravaganza with fire-jumping tigers. meanwhile people who lose all their money in crypto get roasted for weeks on ct by sesame street anons this is the real case for farcaster

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some notes to self there is no single "best" way to earn onchain—you're simply surfing an exponential curve of different risk and return models, and any "best" way must let users ride that curve there is, however, a "most fun" way to earn onchain, and that almost always wins

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endgame is here

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honestly the farcaster ecosystem just needs to be home base for a few more crimes, and ct won't stand a chance

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part of what makes me a great cofounder is my complete inability to ever hack into anything

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founders at token 2049 vs founders at farcon

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lot of major players trying to build a crypto wechat where builders can deploy miniapps worldcoin, abstract, warpcast, telegram the one i hear the most requests for as a builder—by far—is warpcast

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over ~$3250 in rewards up for grabs on jokerace this week >$3000 in rewards for web3 privacy’s meme contest >contest for best AI movie (rewards go up as people play) >@luigithetweak‘s… tweak contest? >JokeRace contest for tweet of the week. pot starts at $250 and goes up as people play find em at jokerace.io

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been shitposting about zora on twitter and gotta admit i am *way* too scared to do that over here

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nobody wants to talk about it, but crypto is facing a massive crisis for a simple reason *everyone* decided to value companies on token price mimetics instead of revenue which meant nobody bothered to get revenue and now the whole space is running out of money

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hot take, but we need to recognize that the failures of ethereum's marketing are just as much on the L2s as the L1s—but unfortunately, it's really on the L1 to fix them when app builders are getting angry at the EF for not marketing apps, it's not entirely on the EF there was a widespread assumption that L2s would be the place to do this marketing work for apps—and very few have so app builders go back to the one genuine community they trust, which is ethereum when app builders hear ethereum say it's only for the 0.01%, and that the EF isn't going to market apps, that sounds a lot like saying there is just nobody in ethereum on the L1 or L2 level who will help with distribution and actually use the apps that are built here. this is why there's anger. this is why builders are losing hope. it's not because people don't believe in the EF but because they *do*—because the EF is one of the only institutions that stands for legitimacy. and to watch it turn its back on the builders here really hurts.

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i haven’t been really clear about this so let me try better >JokeRace is giving away $250/week for… having the best memes >rewards climb up from there as more people play >and it creates pages where you can… find memes that’s it. a use case that’s only possible with crypto

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look i know this sounds delusional but everyone is looking for the next big consumer crypto product and i think JokeRace has a fair shot at it in the next few months stay tuned

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getting twice the engagement on warpcast that i get on x with literally 1% of the followers that i have on x

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open call: would love to see someone in the space run weekly product-hunt-style leaderboards of top ethereum apps you can build that onchain with us on JokeRace (and even make money) it’s time to feature ethereum apps, and clearly EF isn’t gonna do that dms open

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basically the bull case for crypto right now is that it's completely fucked, but somehow not as completely fucked as usd, the yuan, real estate, small businesses, and literally every single stock. but the worst part is: this is the most compelling bull case we've had in years.

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honestly we deserve this. we all made fun of two girls working as project managers by the pool and now the only jobs for americans are deporting immigrants and working at the banana factory

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