In pretty much any game where money's a concern, I enter it with the assumption it's already rigged. Even if you can't see it, there's always a house, and the house...we know what the house does, and it ain't losing.
I feel that's where the market's at with the big players. Even the most boomer or normie-tier investors have, at the very least, HEARD of these. It's been made extremely available, too. It's almost easier to buy it than not.
And that's what people are doing. They're hearing the buzz and forking over the dough. But why? Is it the low price? Is it the success stories? Is it the easy access? Is it the presence in the cultural zeitgeist?
Probably all of these, really. But in all of these things, one critical element is missing:
Honest, real discussion.
Just try to have any real discussion about these types of coins with anyone who holds, or is purported to hold, a big-ass bag. Or a small bag. Whatever.
You start talking about market cap, inflation, burn - honestly, any real concern that any reasonable buyer or holder may have, and watch how far you get. Watch how quickly your reasonable questions or concerns get swallowed up by the fervor of the irritated hivemind.
Ever wonder what it feels like to be one of those huge hornets that gets vibrated to death by a bunch of bees? Just do the above. Closest human approximation there is.
There's no actual reason for the few of these tokens to have succeeded beyond pure novelty and greed, but that won't be enough for long. They're simply vehicles by which the illusion of potential riches are delivered to the hungry, wanting masses.
Truly disheartening to see how many people there are who are so eager to march to the beat of any drum, even if that march is gonna take them right off a cliff.
I've spent some time lurking many, many crypt-communities. All are largely what I've described above: willing masses easily duped into closing their minds and opening their wallets, and their attitude reflects it. There's no real sense of community or belonging. It's simply "I put my money here, and now I must defend my money."
That shit don't work. Money's no sufficient coagulating agent for the commingled blood of men. Pursuit of money and wealth alone are, by nature, selfish and isolating. Any community built around those as a central principle are doomed either to fail honestly or - worse - succeed dishonestly.
For now, no one really gives a shit about these tokens. Nobody in those communities, or any others like them, gives a shit about each other on an individual level either. You're a drone. You're a Wallet. You're not Steve or Jane or William or Kate.
To them, you're a Nobody. You're only as good as your ability to buy or sell, because there is no other element to their culture.
All that said:
If you think they will all always be like this, I think you've got the wrong of it. The next generation will be those that have a culture and community in in which the making of money is NOT the central element.
It's mostly about content
Truly. If a true community can be created, one where creating content on its behalf is the fun of it, it can be an extremely powerful flywheel. When the basis of the coin is community and fun, a self-reinforcing and bootstrapping process can occur.
The money comes because of content, the creativity, and the enjoyment everyone gets from it. This is what attracts and retains new holders. It isn't the other way around. If participating in the community is a fun thing to do, generating money just happens to be a convenient side effect.
Submitted November 19, 2021 at 01:39PM by transtwin https://ift.tt/3DyWvbt
