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681 points Anon84 | 1 comments | | HN request time: 0.213s | 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. big-and-small ◴[] No.46196521[source]
If you can afford Lambo you can come to place like Dubai and pay for it in AnyUSDcoin, gold nuggets or anime profile picture NFTs. Barrier for using crypto of any kind does not exist in countries without paranoid AML / KYC regulations.

Or tbh you can just buy it with crypto card issued in Hong Kong / Singapore even if you buying it in the US.