six
@six
people are not excited that one of the biggest players in fintech is investing heavily into bringing its tens of millions of users onchain on an ethereum L2 - thought this was exactly what folks wanted?
14 replies
2 recasts
59 reactions
Dan Romero
@dwr.eth
1. It's good for crypto. Not sure why anyone thinks otherwise. 2. "bringing its tens of millions of users onchain" != having those users use a bunch of crypto apps and protocols. If the UX is focused on trading assets in a vertically integrated way (RH app, chain, DEX) then it's unlikely to have much of impact on actual number of consumers using crypto apps.
5 replies
0 recast
29 reactions
six
@six
agree w both, robinhood users are not going to start doing anything onchain outside of the robinhood app my critique is i think people claim to want general "bringing people onchain" as an inherently good thing, but they still want it in a way that enables value capture for themselves - so would not be excited about RH developments even if it satisfies desirable conditions like onboarding to self custody, bitcoin ownership, defi mullets etc. rightfully so of course, people are building businesses that need to capture value in some form - just think a lot of messaging of the former is thus disingenuous
1 reply
0 recast
6 reactions
Dan Romero
@dwr.eth
right, I think the "bringing people onchain" isn't nuanced enough. Bringing liquidity onchain is straightforward given market conditions, what crypto is used for today, regulatory environment, ETFs, etc. Bringing DAU onchain akin to bringing DAU onto mobile is still an unsolved problem. Most people working on "bringing people onchain" are in the DAU business, not the liquidity business.
2 replies
0 recast
11 reactions
Joshua Salles
@omghax.eth
Daaamn it's nice to see this in writing, I feel like most shy away and are in a copium mine of buzzwords lmao 🔥
0 reply
0 recast
0 reaction