Once upon a time, I was young and naive enough to believe the legacy media was uniquely stupid, evil, or some combination both.
Now, with the benefit of experience, I still believe the legacy press is stupid and/or evil. But I no longer believe this tendency is unique to the press.
The emergence of “Crypto Twitter” provides ample evidence that this superposition of malice and ignorance is fundamental to human nature. It’s simply an emergent property of any system containing a critical mass of stupid people, which both Crypto Twitter and mainstream journalists hold in ample supply.
For instance, over the weekend an another round of Curve FUD circulated, this time because the founder was caught BUYING their token.
Yes… they actually would spin “founder buys token” into FUD.
Beyond a certain level of audacity, you have to actually applaud the gambit.
Being Crypto Twitter, of course the chumps ate it up! It’s why we don’t see many good faith critiques of Curve. Why bother, when the plebs are perfectly satisfied to roll in any ole slop.
So instead of building, Mich took time to singlehandedly fight back the troll army. New FUD: “WHY IS CURVE FOUNDER POSTING ON 𝕏 INSTEAD OF CODING?!?!”
We’ve reduced winning on 𝕏 to simple equation…
And to be fair, literally any action related to Curve, especially positive news, does tend to cause $CRV price to drop, so you won’t even necessarily be wrong.
Welcome to another day in the institution…
The Institutions
The latest macro narrative causing jubilation across Crypto Twitter is, of course, the potential Bitcoin ETF approval.
Amidst the mass narrative about institutions, the latest Convex round took some observers aback. Did hefty incentives flow from… Paypal?
The question, then… is this institutional money flowing towards Convex? Given the poor state of liquidity in DeFi, observers are thirsty for any hint of the TradFi floodgates breaking.
The answer in this case may be an ambiguous SOON™️
But only if we wash our mouths out with soap first? Is “birb” a dirty word?
I’ve got no interest in policing people’s speech… whether you want to call it “birbs,” “incentives” or whatever you like, it’s not like I have any credibility on the subject of using inoffensive language.
TardFi is teeming, though. I posit the existence of a contingent of Crypto Twitter accounts, a cabal willing to repost you, but only if you self-bowdlerize yourself and drop touchy terms like “birbs.”
If you’re a mere sharecropper on the engagement farms, as are we all, consider the benefits of cleaning up your language for the sake of virality.
Prior coverage on the institutionalization of DeFi…