phil on Farcaster

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

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phil pfp

I’m torn on memecoins. They legitimately feel like a fun new social primitive. Addicting and always something new to talk about with friends. They’re also a zero sum attention vacuum. I don’t feel good when I pay attention to them. Memecoins: passing fad or glimpse of the future?

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Dan Romero pfp

Define a memecoin If they create long-term communities, then a potential new primitive for building communities. But if they are mostly built around number go up, eventually number stops going up.

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Coop pfp

@coopahtroopa.eth

Why do you not feel good when you pay attention to them? Glimpse of the future is my take - every crypto cycle the hot thing gets blown way out of proportion. However - in that there are some nuggets and kernels of truth that will stick around forever

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dude pfp

warpcast should capitalise on the memecoin hype. we have all the tools in place - frames, actions, & channels.

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robot pfp

i currently think about them like ico's and nfts in previous cycles, they are useful for specific use cases but are getting too much hype this cycle and won't see as much activity next cycle

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Rafi pfp

I think we have overflow of addiction and something-new-to-talk-about these days Many memcoins try to financialize most basic form of interactions between humans by exploiting faith and hope of better future. It is inherently zero sum

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Ben pfp

1. Durable community -> meme = community coin w/shared culture = strengthened community ✅ 2. Meme coin -> semblance of community = meme coin, hard (impossible?) to develop lasting community❌ - This heuristic is oversimplified because if/when there’s a price correction there’s more risk the 1. community suffers even if it had a strong foundation.

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petar.xyz pfp

I see memecoins primarily as a speculative instrument to make more money There are very few memecoins that are more than that (meaning they have cultural impact, etc.), so my guess is these memecoins (e.g. Pepe) will continue to be relevant in the future After this bull cycle is over, 99,9% of all memecoins will likely go to literal $0 But Pepe and a handful of other memecoins may manage to hold value in years to come

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:grin: pfp

Same. Wrote a draft post about this. Can dm it to you if you wanna read

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tani pfp

Memecoins or Culturecoins will unlock Infinite Parallel Economies or as @six says “Hyperfinancialization”

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LGHT pfp

glimpse of the future imo hopefully they become organizing instruments that offer generative wealth effects simultaneously but asymmetric wealth opportunities do not usually go away until new ones emerge in the same territory

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Zinger pfp

Tokens are fascinating and a core primitive of blockchains, huge blank canvas for creative use cases The current meta of choosing an animal, a catchy name, and clicking a button on a launchpad is toxic and will ultimately fade (as NFTs and ICOs did before) Excited for more thoughtful experiments in token design

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Gökhan Turhan pfp

@connorkeenan's take on memecoins here provides another vantage point IMHO: https://paragraph.xyz/@kingpost/memecoins-vs-curation-markets

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HH pfp

web3 version of slotmachines.

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tomu pfp

within every cycle we made easier for people to invest, from icos to know click a button and you create a token memecoin is a broad category, whereas most of them are just short-term noise (and money for some). i'm bullish on brands that are created around a token, and this distributes value within its network

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Luigi Stranieri pfp

Luigi Stranieri

@luigistranieri

There’s meme coin and meme coin, I never felt good investing in them, and I was always right to not feeling good 😅

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bashobits 🚅✨🔵💨🫐 pfp

bashobits 🚅✨🔵💨🫐

reply in haiku from last week 👇 https://warpcast.com/bashobits/0x442aa14b

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frdysk pfp

a glimpse of creator economy, everyone's gonna have their own memecoin with affiliation to a bigger memecoin, same same with web2

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Fio pfp

I am sure they will stay in some form or another no reason for them to disappear, as the cost to create them is 0 and the potential upside ∞ also possible that we might see an even stronger financialization of memes, where a price chart will reflect a meme's popularity in a given time - being something like a financialized version of google trends

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kripcat.eth pfp

Essentially this + financial nihilism. It’s mostly young people in crypto. The average young person is short on cash because of cost of living, cost of living housing and student debt. They think “With what I have to invest I need 1000x or more to make a meaningful difference to my life.” BTC and ETH aren’t going to do that any more. They don’t know enough about the space to successfully invest in fundamentals of other coins/tokens but they know memes. And if they lose some money investing in a rug, well their life isn’t meaningfully more difficult than it was before. https://warpcast.com/apex777.eth/0x4cf0b6e8

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