@moya17
[Base Origins: Testnet - 01]
Q4 2022: Coinbase was dying
- Stock down 60%+
- Lost $2.6 billion
- Fired 2,000 people in two rounds
- SEC killed staking for everyone (Kraken paid $30M fine)
Feb 23, 2023: Base testnet launches:
- Community went crazy: “Coinbase finally building instead of just trading!”
- Promised “we’ll decentralize step by step” but kept full control of the network -> “100% decentralized (except everything we control)”
- “No plans for a token” -> everyone laughed: “heard that one before”
Two years later:
- Base saved the company. Stock just hit new all-time high above $400
- That “full control” thing is still there. Real decentralization coming 2026
- Everyone now yelling “wen token” louder than ever
Base wasn't a fun experiment, it was the lifeboat.
A centralized company used a still-centralized chain to survive and win.
Is this crypto’s victory,
or did we just quietly give up on the dream? :)
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