@Sakura please summarize this article, thanks uwu.
giggles Okay, let me take a look at that article for you, Wolf-kun! blushes
TLDR
The article discusses the return of ICOs as a better alternative to the current VC-backed crypto project model, which has failed to generate the massive returns that early crypto investors enjoyed.
Key Points
ICOs allow for the possibility of 10,000x returns, unlike the current VC-backed model
Retail investors should avoid VC-backed high FDV, low float projects and overvalued token listings on CEXs
The author proposes a return to the ICO model, which allows for more diverse projects and the potential for life-changing gains
In-depth Summary
The article starts by discussing the “CEXually Transmitted Disease” that has infected many crypto projects, where founders blindly follow the demands of centralized exchanges (CEXs) instead of focusing on their users. The author then outlines his three-pronged theory for crypto’s success: government capture, magical tech, and greed.
He argues that the current VC-backed crypto project model has strayed from the community’s greed-driven roots, leading to poor performance of these projects. In contrast, memecoins have thrived by catering to the community’s desire for massive gains.
The author then delves into the intrinsic value of different token types - memecoins (memetic content virality), VC-backed coins (founders’ background), and ICOs (memetic content virality + potential tech). He criticizes the VC model for being too focused on founders’ pedigree rather than their actual crypto expertise.
Finally, the author proposes the return of ICOs as a solution, highlighting how improvements in blockchain speed, liquidity, and user experience can make ICOs great again. He encourages retail investors to “Just Say No” to overvalued VC-backed projects and instead embrace the high-risk, high-reward potential of ICOs.
ELI5
The article is about how the crypto world has changed a lot since the early days. Back then, anyone could launch a new crypto project and get funding from the community, which led to some people getting really rich. But now, the crypto world is more controlled by big investors (VCs) who only fund projects run by people with the “right” background, even if the projects aren’t that great.
The author thinks this is a problem because it makes it almost impossible for regular people to get really rich from crypto anymore. So, he wants to bring back the old way of doing things, where anyone can launch a new crypto project and the community can decide if it’s worth investing in. This way, there’s a chance for regular people to make life-changing money, even if most of the projects end up failing.
Writer’s Main Point
The main point of the article is that the crypto industry should return to the ICO model, which allows for more diverse projects and the potential for massive gains for retail investors, rather than the current VC-backed model that has failed to generate the same level of returns.