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681 points Anon84 | 1 comments | | HN request time: 0.202s | 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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Traster ◴[] No.46191244[source]
Ah I see, so the [token holder] hires a [builder] to build something, and uses that to then hire [intellectual] to scam the ['pragmatic user']?

To take this a little more seriously, this is computer programming, very famously you don't need massive gobs of VC capital to build something. The only reason for the [builder] needs [token holder] is to hire [intellectual] to scam [user].

Oh and of course, [token holder] [builder] and [intellectual] are the same guy with 3 different anime profile pics.

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expedition32 ◴[] No.46193807[source]
The funny thing is that people are betting on a profile with anime pictures against the ECB representing 500 million people.

And yet when they want to actually buy a Lambo they need hard currency...

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1. ◴[] No.46196507[source]