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Conversation

The greatest trick the devil pulled off is creating a technology where speculation that it might one day have adoption actually *is* adoption.

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It’s as though the pets.com share price going up was somehow proof that pets.com was going to work

12:52 PM · Aug 24, 2021

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To be clear, I'm not being sarcastic - speculation is a deliberate mechanism to jump-start the network. But you might need to be careful treating the speculation as proof of anything more than the speculation.

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nikothefinn.sol (

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Analogy is🍏 and 🍊pets.com was a single early Web 1.0 project. Blockchain in the right analogy = the internet. Yes, individual highly-valued projects will fail (maybe most!) but even as pets.com fails, internet ushers in era of crazy value-creation.

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I did not make a comparison with pets.com. The comparison is with what a share price tells you, and how that is different to what a token price tells you

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I should have kept my sock puppet.

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Beanie babies might be a better example, pets.com was just early, too early.