My take on Base token announcement
1. Tokens are an incredible coordination mechanism for decentralized networks, they are useless for everything else
2. Base team knows this well, and they will attempt to decentralize. They are obviously scrambling to compete with Solana, and with a token they have a shot at attracting liquidity + they are adding a few billy on Coinbase balance sheet
3. Jesse talks like he is Steve Jobs, but you can't pretend you are forward-thinking while simultaneously coming up with dumb shit like "base is for pimping" or you swore until yesterday that Base won't have a token. People will see through the bullshit and get pissed off
4. There is no right or wrong way of doing things, you can build anything the world wants. Just be authentic
why I dislike crypto founders so much
i got into crypto in 2016 and back then a large proportion of market participants cared about the core values like decentralization, immutability, censorship resistance etc. today, hardly 2% still care about it, the rest of the "builders" just want to make money
there is NOTHING wrong with wanting to make money. it is a good thing. but if you want to make money, JUST SAY THAT and don't frame it like you are saving the world
jesse's words here are "we are gonna have this positive impact on the world (...) and figure out how these new tools can unlock new systems for ALL OF US and so (...) we are going to be exploring a network token"
shut your mouth
there is precisely one reason why base is launching a token and it is to max extract one last time for coinbase shareholders. and that by itself is not a bad thing, the bad thing is how jesse frames it like they want to save the world when indeed they just want to max extract
and this is true for ALL crypto companies
base worked great without a token for years, you don't need a token
polymarket, pumpfun, and all other dapps work perfectly fine without a token, yet, they all have one. for the sole reason that it is the easiest way to make more money for the team and vcs. and i would be ok with it if they were just honest about it instead of virtual signalling like a blue haired liberal
imagine that uber, spotify, airbnb and every single app had their own currency. makes 0 sense. they have company shares and it is the mandate of the board and management to maximise shareholder value, often against the common good. but i am ok with it, bc it is transparent and honest
only in our industry do we have people like sandy from scroll or cringe jesse pretending they are saving the world when indeed they are just enriching themselves
can't listen to these people talk...
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