@alitiknazoglu

my 2 cents about recent base app decisions, crypto still measures success of a chain or token by trading volumes and trench hunting on twitter. but let’s be honest, do you really think rest of the world will jump in just for these reasons? no. every transformative technology starts with speculation, yes. but then it matures. crypto doesn’t/didn't. it stays trapped in speculation cycles. who cares which chain we build on unless there's no clear user reason like faster, cheaper etc.? do we care which language your phone’s operating system is written in? no. we care that it works. we’re in a bubble. remember october 6th? no deep liquidity, everything dropped 80%+. that wasn’t bad luck. that was structural fragility. tokens in crypto feel like toys. every 3-4 months, a new one is pushed out by same producers. pattern repeats: - rich people buy “original” - middle class buys original or close copies - poor people buy fakes and enjoy feeling of having trending toy same thing happens here. a random "meme" appears. someone tokenizes it. a few og accounts share ticker. suddenly it’s “hot”. what are we actually building? concept of "degen" is starting to make me sick. 99% of token launches fail not because of market conditions, but because once a token exists, product stops mattering. price action becomes only narrative. look at pump fun, virtuals, clanker. once something is tokenized, attention instantly turns into speculation. early builders don’t get feedback, they get volatility. after 30 days volume fades. after 60 days devs abandon it. fees are collected by “dev”, story ends. this is structural problem. visibility becomes instantly financialized. only a very small percentage of crypto twitter is building real products with real traction. we should amplify those builders more. about base app decision: first, respect to jesse. admitting mistakes early is always better. it’s better to cut a bleeding arm sooner. but let’s be honest, base never had a clear north star here. creator coins were almost guaranteed to fail. everyone knew it, touching fire burns... now they’re searching for a new north star. maybe trading becomes it. maybe not. we’ll see. but before chasing next narrative, we need to rethink fundamentals. what's the goal in here? wishing best for base and for all builders. https://x.com/jessepollak/status/2020962065100538091

3 replies

6 recasts

21 reactions