Long thread/31
In the case of #cryptos, the main monetization strategy was deception-based. Exchanges and "projects" handed out a bunch of giant teddy-bears, creating an army of true-believer Judas goats who convinced their peers to hand the carny their money and try to get some balls into the peach-basket themselves.
But deception only produces so much #LiquidityProvision. Eventually, you run out of suckers. To get *lots* of people to try the ball-toss, you need coercion, not persuasion.
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