teddit

Idk what clearer evidence you need that this space is dominated by gamblers & cults over investors & economic sustainability:

Trump announces a serious DeFi project, limited demand. Trump meme token with awful tokenomics? To the moon!

for anyone feeling discouraged about the future of crypto, now is a really good time to re-read @matthuang's "The Casino on Mars"

10/10 read

founder @ paradigm, board member @ stripe, building & investing at the illegible frontier

for anyone feeling discouraged about the future of crypto, now is a really good time to re-read @matthuang's "The Casino on Mars"

10/10 read

https://www.paradigm.xyz/2023/09/casino-on-mars

building farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud” 🤠

Working on building zkTLS infra/products. A ruthless empiricist and meme connoisseur.

/opacity

and

/eulerlagrange

Just answer the question 

https://warpcast.com/eulerlagrange.eth/0x5feae909

What actual useful thing can you build on-chain?

extremely blessed highly favored always grateful

okay then why make the comparison in the first place because they are clearly two extremely different things as you’ve just illustrated in this cast

yes there is limited demand for the option restricted to a tiny subset of people and forcing you to give up your privacy

yes this space is “dominated by grifters and cults, not investors and economic security” because the former has an order of magnitude of less friction across the board

something something, water flows thru the path of least resistance

okay, let’s be a a bit more realistic and a bit less melodramatic.

any serious DeFi project in the US that could be considered a security must play by US rules — which includes KYC and accreditation regulations. memecoins are positioned as non-securities so not subject to that. not the fault of “eth dorks.”

that “serious defi project” was KYC restricted to accredited investors🙄

tightass, condescending eth dorks shouting from their ivory tower and no wonder eth has gone sideways forever

not everyone shares that sentiment and that’s okay

discouraged? it’s the most bullish time in crypto history

thank you, honestly this just what i needed to be reminded of

Daimo Pay. Build once, distribute everywhere

we won't win by selling self custody / "crypto" / "web3" to people directly.

but rather by being global rails that any organization can build on without permission. that's the audience.

Argentina's a perfect example. the most popular crypto app by far is Lemon, a custodial neobank with stablecoin connectivity.

> Ask anyone in Argentina about crypto, and they don’t doubt its usefulness for a moment.

having spent a month in argentina, that's not true. people who can work remote like getting paid in USDT/C. we met some bitcoiners & memecoiners. but overall attitudes towards crypto are similar to what I've seen here.

Ethereum

My thoughts on Ethereum’s current narrative, the risks of memecoins, and why we must ensure it remains the home of innovation—not speculation.

Let's remind ourselves and others what Ethereum truly stands for.

great read indeed.

I'll use the occasion to clarify that speculation can indeed fuel innovation under the right conditions, but to Ethereum today it also:
- penalizes innovators and rewards value extractors
- prioritizes short-term gains over long-term utility
- obscures main value prop -> hurts the narrative -> confuses new users -> hinders adoption

great read indeed.

I'll use the occasion to clarify that speculation can indeed fuel innovation under the right conditions, but to Ethereum today it also:
- penalizes innovators and rewards value extractors
- prioritizes short-term gains over long-term utility
- obscures main value prop -> hurts the narrative -> confuses new users -> hinders adoption https://warpcast.com/jacopo/0x8a430ec1

“Speculation is the “hello world” of crypto.”

Good read. A nice primer to share with the relatively new to crypto.

Inspirational perspective for crypto skeptics. Must-read for reassurance

Thank you, great read and perspective shift. 100 $degen

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+ Drop your SOL wallet address 👇