I strongly disagree with this take. There are no secrets ON THE BLOCKCHAIN. However, there are tons of secrets in email, in hidden forums, etc Pump and dump schemes and garbage coins and ponzi schemes all exist in web3 The complete state of the ecosystem is not just the chainhttps://twitter.com/jonst0kes/status/1478372854043451400 …
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2/ Now, I'm a big fan of crypto and the blockchain. There's real promise there. ...but right now, I think that 95% of the froth is pure scam (many with victims and victimizers, some just self-victimizing). No one needs rare apes. >>>
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3/ ...however people DO need non fungible bills of lading that are bearer instruments (this is how international shipping works! I worked on a project with encrypted PDFs 20 years ago for this very market), they need public ledgers of land and tractor ownership, etc etc
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ⓘ Dogs don't have thumbs Retweeted jonstokes.(com|eth)
4/ footnote: I was disagreeing w the claim in the initial tweet, not saying that
@jonst0kes entire thread was wrong; e.g. later he sayshttps://twitter.com/jonst0kes/status/1478372860280324096 …ⓘ Dogs don't have thumbs added,
jonstokes.(com|eth) @jonst0kesThat isn't to say there is no asymmetric info. There are Discords I'm sure where traders are looking for alpha & doing pumps & so on. That's a real thing. But "here's what we're pumping next" is a different type of asymmetry than "split-strike conversion strategy argle bargle..."Show this thread1 reply 0 retweets 12 likesShow this thread
5/ so I think we're largely in agreement
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