@0x-omen.eth

I've seen a lot of posts on why crypto is down and this cycle has been a let-down. There's a lot of good insights in the posts I've seen, but there's one major problem I haven't seen discussed: Crypto isn't for people. Crypto is for bots, and until humans can compete with bots, crypto will suck. Imagine you play soccer or WoW. Every Thursday night, you and your friends play a friendly game. Scoring feels great, but the score barely matters as long as everyone has fun. It's the most cherished time of your week and it builds a community of friends you talk to in the off times. One week, a friend brings their new humanoid robot to play for them. It's more agile, faster thinking, and better shooting than anyone on the pitch. At first, it's fun to compete against. But slowly, the entire field of players is replaced by far superior bots until humans can't even compete. Eventually, the friend group dissolves as no one wants to play against the bots and the Thursday night league vanishes. This is the current state of crypto. Humans have been displaced by superior bots. If you can't code a bot (and 99.5% of the world can't) then you will not "win" in memecoins, prediction markets, or other financial games where a bot can parse data and execute a thousand fold faster than a human. Bots killed memecoins and creator coins. If you've ever launched a Clanker or Pump coin, you've witnessed the bots buy your coin, running up the price and stealing a large % of the supply in essentially the same block the coin is minted. Combine this with the infinitely dilutive nature of coins that makes them toxic assets to hold long term, and, just like our imaginary football pitch or WoW campaign, you get a situation where the market can never be a place where humans win. To a degree, this is nothing new. TradFi is similarly dominated by "bots" (e.g. HFTs, algorithmic traders, etc). But TradFi assets have real value and consistently reward humans with correct, long timeframe views. Memecoins don't share this attribute and will continue to be a unhip, low status topic until real people can win again.

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