The podcast reflects on a recent backlash they received on Twitter and questions if they are doing more harm than good for the Ethereum community. They discuss a proposal for a global education onboarding campaign by the Bankless Dow and clarify brand confusion. The hosts explore the purpose of being in the crypto space and contemplate the relationship between money and technology in the industry.
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Quick takeaways
The confusion and backlash surrounding Bankless and Bankless Dow highlighted the need for clear branding and communication to avoid misunderstandings.
The attacks on the podcast hosts triggered discussions on mental health and the importance of surrounding oneself with trusted individuals for support and perspective.
Deep dives
Confusion around Bankless and Bankless Dow
There was a lot of confusion and backlash on Twitter regarding Bankless and Bankless Dow. The branding between the media company Bankless and the Dow was unclear, leading to misunderstandings. Bankless Dow, an independent entity, made a proposal to ARB-trim for $2 million, which caused further confusion. Many people misunderstood the relationship between Bankless and Bankless Dow, leading to accusations of grifting. The conclusion was to clarify the branding and burn all Bank tokens to emphasize the separation between Bankless and the Dow.
Twitter attacks and the impact on personal mental health
The podcast hosts, Ryan and David, were under intense attack on Twitter, facing accusations of being grifters and enduring hate-filled comments. The overwhelming negativity led to an existential crisis and self-doubt. The attacks triggered a discussion on the impact of such events on mental health and the need to overcome the fear of criticism. Support from trusted individuals helped in regaining perspective.
The broader question of why we are in crypto
The Twitter attacks raised a broader question of the motives for being in the crypto space. Some argue that the primary goal should be financial gain, while others believe in the importance of contributing to decentralized technology and the values it represents. The hosts strongly emphasize their commitment to the ideals of sovereignty, decentralization, and wealth creation for future generations. They believe in creating long-term value and earning the wealth generated by their assets through meaningful contributions to the crypto ecosystem.
The challenges of navigating crypto Twitter
Crypto Twitter often amplifies nihilistic and short-term perspectives, with a focus on money and trading. This can create distorted narratives that overlook the broader significance of decentralized technology. The hosts acknowledge the challenges of balancing financial goals with the meaningful impact of crypto. They reiterate the importance of valuing the underlying technology and the long-term vision of a decentralized future, rather than being solely driven by short-term gains.
In case you weren’t aware, last week and over the weekend, Bankless became crypto’s main character. In today’s episode, we share our reflections on the backlash we received. What happened? Did we deserve it? And why are we here?