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681 points Anon84 | 3 comments | | HN request time: 0.629s | source
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mozarella ◴[] No.46189252[source]
https://vitalik.eth.limo/general/2024/01/31/end.html#section...

Vitalik touched upon this briefly in an other-wise long and wide-reaching essay. I think its a good treatment of the topic that the author is talking about. He categorizes the ecosystem broadly into 4 cohorts- [token holders] (which includes investors, speculators, etc.), [pragmatic users] (actual end-users who spend crypto to buy stuff), [intellectuals] (who give the vision and ideology), [builders] (of blockchains, apps, etc.) - These 4 groups come together but with different motivations and there is a gap in understanding between them. Indeed, there is even resistance against trying to reach an understanding - one which plays out in the comments section of every crypto-related post on hn. The author of this twitter-post clearly falls under [intellectual, builder] and has been disillusioned by the speculators from [token-holders]. Yet the [token-holders] are a vital component (as are the other groups) as they fund most of the development and adoption. Ultimately these 4 groups have more in common than not. The challenge going forward is to balance the occasionally conflicting needs of all the 4 groups, which includes checking the excesses of each group, while try to achieve a consensus. (Vitalik provides a nice diagram that maps out what that would look like). Crypto is an experiment in economics and economics is a science as well as a social-science. Anyone looking for a good solution must seek to understand and address the psychology of all the actors involved.

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cryptonym ◴[] No.46190342[source]
In a casino you have - The gamblers spending a lot on the casino - The people coming in for the fun and spending little money - The owners/C-levels - The operational team

Someone from the operational team just learned that business relies only on the first group to be successful.

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brohee ◴[] No.46190609[source]
You forgot the money launderers, in both ecosystems. Casinos are the original tumbler.
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1. ethbr1 ◴[] No.46191103[source]
'I'm shocked to find that gambling is going on in here.' https://m.imdb.com/title/tt0034583/quotes/?item=qt0429972
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2. JKCalhoun ◴[] No.46191752[source]
"I'm shocked! Shocked…"

(The double "shocked" is what makes the quote next-level.)

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3. ethbr1 ◴[] No.46195489[source]
Doesn't quite translate in text. Figured those who could hear it in their head wouldn't need the extra prompting.