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https://warpcast.com/~/channel/confessions
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Patricia Lee
@patriciaxlee.eth
I don't fully understand what I'm looking at when I open the search page and wallet. This isn't a criticism of the team's recent updates - just a public confession of my ignorance to all of you who seem to swim through all of this like fish in water. I mostly ignore tokens here - not out of cynicism, but confusion. When I click on token pages, even popular ones like $DEGEN, I struggle to understand what the project actually is. (The bottom of the $DEGEN page says "No casts about this token yet.") After a few months on Farcaster, I feel I'm missing out on an interesting way to support interesting projects - beyond donating via Crowdfund. The terms I'm seeing blend together in my eyes: "app coins, "memecoins", "creator coins", "streamer coins" and things just called "coins." Plus "scam coins" flagged by the community. This cast is not a request for trading tips. I'm looking for your personal perspectives or reading recommendations to understand what drives this activity everyone seems so fluent in and what makes Farcaster a special place to do it. What motivates you to buy tokens here? I'm having a boomer moment and want to overcome it. Thank you.
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BrightFutureGuy š©ā
@bfg
Iām with you. All types of coins and the attempts to coin everything are becoming exhausting and boring š„±
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Lopez
@lopezonchain.eth
I think the same, maybe coins should have utility instead of just representing something?
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BrightFutureGuy š©ā
@bfg
Well, each coin does represent something, but it's usually an imaginary thing and how many imaginary things can you be exposed to in a day š
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Lopez
@lopezonchain.eth
Yeah, every token represents something, but in most of the cases you can't do much with it more than buying and selling it
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DepressiveHacks
@depressivehacks
Sadly, I anticipate that this will get worse before it gets better. Nobody has the incentive to tell people not to tokenize things. Even if people are trading absolute garbage, every chain in existence would take the trading volume to show to their next capital raise. This is what leads to so much garbage to sort through and over-saturation of the market.
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Lopez
@lopezonchain.eth
It could get worse forever at this point
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