Multiple big twitter influencers get together to do a memecoin launch yesterday.
Hard to count all the things that went wrong here.
Gambling retards will think it’s all about:
+ The meme
+ Influencers with huge follower counts mentioning it
Horribly wrong. That’s why you’re repeatedly getting wrecked. You’re a loser gambler who would wreck everyone else too if you could force your advice upon them.
Never about those.
What is it about:
(1) Liability. Someone taking on big liability for its success, in the form of tarnishing a long-standing reputation and cash, preferably both. Big reputation to lose, big cash at stake. This is because credible threat of conditional penalty, not unconditional reward, is the primary ultimate driver of all intelligent behavior.
(2) Right macro mvrv. Roughly, those holding the primary pairing token, or those who invested in similar things before should have currently high MVRV. People much more easily spend from sudden excess returns easily made overnight, than from money earned in more difficult ways.
We’re in the age of the memes, but it’s not really about the memes, like fine art returns is not really about how good the art is. Worse art often dominating better art via these other factors.
We’re in the age of big influencers, but it’s not about how big their follower count is, smaller influencers often absolutely dominating much larger influencers in their ability to pump coins.
None of this is that new, with something analogous to these having strongly applied to all early stage tech investing, since the dawn of time.
Not memes & follower counts.
Liability & macro.
Nothing new under the sun.
Hard to count all the things that went wrong here.
Gambling retards will think it’s all about:
+ The meme
+ Influencers with huge follower counts mentioning it
Horribly wrong. That’s why you’re repeatedly getting wrecked. You’re a loser gambler who would wreck everyone else too if you could force your advice upon them.
Never about those.
What is it about:
(1) Liability. Someone taking on big liability for its success, in the form of tarnishing a long-standing reputation and cash, preferably both. Big reputation to lose, big cash at stake. This is because credible threat of conditional penalty, not unconditional reward, is the primary ultimate driver of all intelligent behavior.
(2) Right macro mvrv. Roughly, those holding the primary pairing token, or those who invested in similar things before should have currently high MVRV. People much more easily spend from sudden excess returns easily made overnight, than from money earned in more difficult ways.
We’re in the age of the memes, but it’s not really about the memes, like fine art returns is not really about how good the art is. Worse art often dominating better art via these other factors.
We’re in the age of big influencers, but it’s not about how big their follower count is, smaller influencers often absolutely dominating much larger influencers in their ability to pump coins.
None of this is that new, with something analogous to these having strongly applied to all early stage tech investing, since the dawn of time.
Not memes & follower counts.
Liability & macro.
Nothing new under the sun.
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