Redphone on Farcaster

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Had a private convo with a longtime crypto analyst. He didn’t ask about markets. He asked if any of this ever mattered. “I’m not excited about anything,” he said. “DAOs are dead. NFTs are dead. Consensus just follows liquidity and longs memes. But no one actually believes in what they’re holding.” Then, he asked me point blank: “What am I doing with my life? Has it all been a mirage?” I’ve been thinking about the conversation ever since. Here are some of those raw and chaotic thoughts: 🧵👇

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1. Most of us are asking ourselves the same question (even if we won’t say it out loud). 2. This isn’t just crypto. This unease… this loss of conviction… this quiet panic, it’s everywhere. 3. The crisis hits the most forward-looking humans first, but it’s happening across all brain-led industries: radiology, programming, marketing, writing, education, filmmaking, art, journalism, entrepreneurialism, etc. 4. You can’t witness the rise of AI and not question 100% of your priors. 5. Investing requires conviction and conviction requires modeling the future. Velocity of innovation is increasing. That makes it harder to model tomorrow, which muddies our beliefs. It makes us QUESTION EVERYTHING.

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6. Crypto’s morphing into infra. It’s background window dressing (like SMTP or HTTPs). Invisible. Boring. Vital. 7. It used to be about dreaming. Now we watch fintechs distort the vision… wrapping moats around what was meant to be open. 8. But we can’t scale without them. Wall Street, fintech, and AI gigabrains are now part of the machine. 9. Crypto started as a tool for anarchists. Now it’s a hammer for the techno-aristocracy. 10. We hate on memecoins even as they prove out the fact: you can do anything tf you want with crypto. For the sandbox is open. And the permissionless magic is still alive.

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