holding the current crop of ownership coins is the first time I’ve felt like a believer since holding SOL post-FTX

one thing Pasternak got right was the name: believe coins are for founders and their believers, not the flippers and I think people here actually *want* to believe (look at CT’s directional bias, despite all the shenanigans that goes on in alts), they’ve just been screwed so many times it’s hard to not be cynical

bitcoin is so cool because it was the first thing like this the only thing that matters to bitcoin is its community, this is the only reason why it’s an asset whose market cap ends in a T many have used bitcoin to demonstrate “memes are all that matter,” which is true, the problem is that memecoins themselves are nonscarce, homogenous, and don’t produce cash flows, so you literally cannot believe (spx6900 is the only example I know of that has a chance of disproving this hypothesis) I think we will use the same community effects to bootstrap productive enterprises, and @AviciMoney is playing out this thesis in real time

and I’m being pedantic because they and their communities are reading these tweets, and “no faith” is just FUD that could dishearten some what’s really the case is everyone needs to prove themselves to the market over time, and these founders choosing to enter that arena is already evidence that they are more trustworthy than the median crypto founder