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?

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.

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. 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.

People want to get rich. They’re lying about most of the rest.

What levers are being pulled is always an important question to ask when you’re dealing with consumption. The lever is a cost to someone, always, so CBA is necessary. And then, who are these 10s of millions of users and what is the incentive for them to engage and for us to engage with them? What do they bring other than their mass?

its good for crypto. exactly what we wanted...?

Crypto is onchain and onchain is public, if you understand this you should understand why people are against crypto

"bringing people onchain" means at minimum having a wallet or the ability to connect to dapps. which in theory allows peoples liquidity attention to move freely across the chains. maybe you will be able to connect via the Robinhood app ? who knows

Everyone cheered for mass adoption, until it came wearing a fintech badge, billions in firepower, and the ability to actually ship.

some great news for Ethereum this week with this and the Tom Lee news. It's happening.