nounishprof on Farcaster

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https://warpcast.com/~/channel/inquiry

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res ipsa ☺︎ pfp

res ipsa ☺︎

since i was little i had always dreamed of, when i grew up, contributing to building a bigger and faster casino that could be instrumental in corruption and political grift, and when people complained about the rich eating the poor, i could dumbfoundedly say to them, “this is crypto? no one ever promised it’d be fair, son”

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@aviationdoctor.eth

My most recent take along those lines has been described and “naive and sweet” on the latest GM Farcaster episode 😂 There seems to be a lot of jadedness at the apparent inevitability of grift and corruption in and around Web3; or worse, people rationalizing that since it’s there regardless, one might as well partake in the casino, because if one doesn’t, “others will do it anyway” (what I call the drug dealer ethos). So we excuse grifters who run insider trades or pumps and dumps as “just being smart”, and we laugh these small crimes off as if they were part and parcel of the industry. We’ve completely normalized zero-sum mindsets. When pushed, some people will resolve the ethical cognitive dissonance by saying that we’ll eventually end up with KYCed/permissioned corpo-chains that will make grifting a thing of the past. Too bad if we also lose what made blockchains unique in the first place. It’s either the untrammeled PvP Far West, or some dystopian bastardized version of TardFi with blocks. Surely there can’t be a middle path where crypto matures into something better and more credible while retaining some of its cypherpunk qualities. And don’t call me Shirley. https://farcaster.xyz/aviationdoctor.eth/0x92116cf7

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Nounish Prof ⌐◧-◧🎩 pfp

Nounish Prof ⌐◧-◧🎩

We loved your take! And would love to see a flight to quality(just not sure we will sadly)

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@aviationdoctor.eth

Thanks, I took it positively, don’t worry :) To expand a bit though on why I hope my take is not simply naive: I’ve been in crypto for over a decade by now, and like many people here over that same timeframe, I’ve seen several hyped-up fads die down — Bitcoin forks, ICOs, Ethereum killers, NFTs, DAOs, even utility/governance tokens at one point. They don’t fully disappear, and they also give way to some other fad, but they shrink to relative irrelevance. Eventually, only a few fundamentals remain truly Lindy. My hope and thesis here is that the shitcoin casino frenzy on steroids (i.e., leverage / clanker / pump dot fun / etc) will also soon become a thing of the past. It’s just too extractive to be sustainable, and retail can only get burned up to a limit. And if I was Merkle / FC’s BDFL, I wouldn’t hitch my wagon too much with the current flavor of gambling for that exact reason.

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