Vigil

Out of curiosity I read the LAPTOP 'MiCAR' White Paper which they submitted (in order to get listed). @HunterBiden literally came on X to dump this shit on us and has been planning this for over half a year lmao. Some very interesting nuggets: > Issuer was incorporated on 26 March 2026 > Contracts audited by Hacken on 23 April 2026 > For reference Hunter Biden first post: 19 May 2026 > MiCAR notification: 24 June 2026 > Capitalised by US$1.4m loan > Likely launch partner: Herve Larren (looks like this guy @itsairvey) (see image 1) > Coinbase and ByBit listing lined up on top of Kraken (see image 2)

Fuck it - publishing the whole very unfinished article here just to force myself to finish it. xitter.gq/wassielawyer/status/20…

Longer thread on why 'legitimate' crypto use cases never take off. Lets imagine a real use case of crypto built around social participation in a common enterprise. For this example, lets assume a communal dog-walking platform is a legitimately wholesome and workable enterprise. Adam creates DogeWalk, a fun application for dogowners and dog lovers around the world to connect and dog lovers can sign up to walk the dogs of the dogowners. In order to maintain trust but anonymity amongst the participants, Adam decides to incorporate crypto into DogeWalk, allowing crypto payments and Walk points, a reputation system which supports the legitimacy of the participant. DogeWalk takes off amongst a community of dogwalkers. Turns out that there is legitimate demand for people to walk dogs in an anonymous manner. Adam makes some money from platform fees charged on his some 1,000 users. Bob sees DogeWalk taking off and sees an opportunity. He creates PupStroll as a competitor to DogeWalk and informs the PupStroll users that they can get a piece of PupStroll! Instead of giving all the fees to Adam, together they can share in the decentralized ownership of a dog walking platform! PupStroll is almost exactly like DogeWalk, except PupStroll users get Stroll points, and a referral link. DogeWalk users start moving to PupStroll. PupStroll does a token launch and suddenly everyone is talking about how the future of dog walking is decentralized. People who have never walked a dog in their lives start signing up with PupStroll to walk dogs and farm season 2 of the STROLL airdrop. Charlie sees PupStroll take off and trade at an implied FDV of 20m with 5,000 users. He raises $500,000 from a venture capital fund BrandName Capital by selling 10% of the future supply of HoundTrek. HoundTrek is almost exactly like PupStroll except it has a slightly cooler 'dark mode' UI. Charlie proudly announces his funding round and launches an aggressive points and referral programme. He even provides zero fees and bonus payments, funded from BrandName Capital's investment. PupStroll's users start moving over to HoundTrek given the economic incentives. The price of STROLL declines and angry purchasers of STROLL begin yelling at Bob for not keeping up with HoundTrek. Bob simply does not have the firepower to match. PupStroll's users give up on season 2. HoundTrek announces a second funding round right before TGE, led by DarkArts Capital. DarkArts Capital purchases another 10% of TREK allegedly at a valuation of $20,000,000 but really at a valuation of $10,000,000. HoundTrek launches the TREK token which opens at 25m FDV alongside a small airdrop. The TREK token climbs steadily upward for a while as Charlie uses the funds raised to provide price support while paying for marketing. When the token reaches 100m FDV, DarkArts Capital and BrandName Capital take profit on the token. Number goes down. Everyone gets mad at BrandName Capital and DarkArts Capital. David who sees all these play out, realizes that there is an opportunity. "Tis all the fault of the greedy venture capital funds!" he says. We need "true community ownership!" With that, he opens a funding round for WanderPooch via an 'ICO', valuing WanderPooch at 'only 10m'. He raises 2m of capital. David knows nothing about dogs nor dogwalking platforms. He simply pays himself the money and shuts down the project after a year. Eugene is a former venture capital hotshot. He pulls together a coalition of his VC friends and raises 10m at a 100m valuation to break the dogwalking industry once and for all. CanineHike is the cleanest dogwalking application ever, and in order to generate demand on both sides, he even invests the money into cute dogs for dogwalkers to walk! He pays ever KOL that was early to PupStroll, promising them both money and tokens for writing long threads on why decentralized dogwalking will work this time. To increase platform metrics, Eugene even pays an agency which hires homeless people to walk dogs on CanineHike! Eugene doesn't even like dogs but the marketing works. On TGE, the token trades at 1bn FDV through clever supply control, marketing and a limited airdrop. Eugene dangles a season 2, while amplifying those who made life changing money farming the airdrop. Meanwhile him and his VC friends sell locked tokens at a 60% discount on secondaries. Within 6 months, the HIKE token declines in price. And at the end of it all, decentralised dog walking is decried as a scam by retail users who do not like dogs as they scream at builders who do not like dogs who have been funded by investors who do not like dogs. As for Adam and the people that actually wanted to walk dogs? Yeah they just do it between themselves in hobbyist groups now and will never touch crypto again.