Anyway, I don’t see why people are really panicking about this so much. It is clearly a self-correcting problem.

The same moral panic did not exist when ICP went from 300bn FDV to 3bn FDV, despite it being a relatively slightly more sophisticated capital extraction exercise.

But that was also a self-correcting problem.

Without the threat of loss of freedom, adjusting bad actor behaviour is IMO virtually impossible.

But investor/player behaviour is very easy to change. If you lose 10 times you stop playing.

Nobody buys “VC coins” anymore to the point where actually some of them (VERY VERY FEW) have become mispriced. They stopped buying them because they were sick of being farmed.

Several people on here, including me, wrote about the high FDV/low float farming phenomenon while it was happening. It didn’t stop the issuers taking the same strategy because shaming does nothing. It also didn’t stop the crowd buying low float coins.

The only thing that changed investor behaviour was collectively losing sufficient times that the crowd “learned” this should be avoided first-hand.

And then that in turn changed issuer behaviour — the crowd will not buy your shit anymore, so you can’t do that type of launch anymore with much success.

This will also happen for the current thing. Unfortunately we are still in close proximity from $Trump going from 0 to 100bn that people are still trying to emulate that and it may be a while. But this is not a long-lasting problem.