[stub for offtopicness]
With crypto, the VCs can sell the majority of their tokens after brief lockup period, capitalizing on purely narrative-driven speculative valuations that almost always disconnect from the actual reality, let alone fundamentals.
Crypto VC perfectly embodies the Greater Fool Theory. The VCs profit by selling to later buyers motivated more by speculative momentum than intrinsic value. The joke being that VC involvement in a project is often the only thing even driving that momentum.
This combination of compressed liquidity timelines, minimal regulatory oversight, and a glut of retail investors who have FOMO from seeing their friends 100x or even 1000x, creates an ideal environment for VCs to systematically transfer risk to less sophisticated market participants at often insane valuations.
Term sheets from vcs increasingly include a “don’t do an ico”
There are many VCs in the crypto space, and there are many kinds of liquidity arrangements in the crypto space, a subset of them are coin related and snapshots are the preferred way, now. ICO-type ones are pretty rare but the VCs one debut at extremely high valuations for the crypto space
A VC saying “dont do a coin” which is probably what you meant, is also probably not funding a crypto venture. yeah, that makes sense to say you arent investing in a meme coin, since seemingly everyone with a platform sullies their brand this way
Deflationary, unregulated currency embraced by plutocrats and finance at the expense of the 99%; news at 11.
Idk if there is a social term for the conservation of rug-pulling across a society across time. But it’s almost like we need to get screwed over every generation or so to remember how power and economies work.
You can completely ignore the “merchant adoption” “mainstream adoption” “lets pretend the man cant figure out how to use this” pitches
There is LOTS of value to extract for yourself in a 24/7 borderless global economy with no transaction size limits and already exists
Such a surprise that David Sacks is the crypto czar and now the “reserve” has been expanded to include SOL also
Genuine questions- I don't really understand
https://www.itsnicethat.com/articles/richard-a-chance-illust...
Convert it into hard Bitcoin and never worry about it again.
See ya in 10y!
What prevents the XRP team from introducing any arbitrary fork such as a dilutions that are then forced on their nodes ?
Trustlessness is a core feature of a cryptocurrency and XRP seems to require a whole lot of trust/faith. But I guess faith is what makes it perfect for its cult like following.
Serious question, are you also deeply religious ?
It is, however, the one failure mode of commerce the extremely rich actually need to worry about. Bitcoin isn't any less cult-like than XRP, they both are downstream of the whole "sound money" nonsense which exists to sell the regular folk on insulating the rich against this one particular threat.