@ted on Farcaster: "addendum: 1. crypto not growi..."

hard truths: 1. crypto isn’t growing, in fact it’s more cringe than ever because of the new admin embracing it / $trump 2. it’s not realistic to generate a full-time sustainable income on farcaster, $degen and $higher were anomaly wealth events 3. majority of the world doesn’t think in terms of markets 24/7

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addendum: 1. crypto not growing but stablecoins are 2. this is true today, but may not be true forever 3. and don’t want to think in terms of markets

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androidsixteen.eth

> crypto not growing but stablecoins are Translation: the culture is stupid but the technology is great

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you said it, not me :)

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eulerlagrange.eth

> culture is stupid but the technology is great. Stablecoins are an interesting one to double click on. We have decentralized stablecoins like DAI that never got any significant adoption. The centralized ones are whats booming rn. The decentralized ones are much worse wrt capital efficiency. This gives us a sign as to what the market cares about. It cares more about capital efficiency than decentralization 🤔

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Agree except 3. False - but needs to be framed correctly. I love gambling markets, and it seems like all my friends do too.

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gambling is separate from rest of life. my friends also love sports gambling or mini betting / dares, but it’s different.

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Just markets I think, and crypto actually enables cheaper betting markets I think we could win here if framed correctly - I know @goldytalks agrees

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had a 2 cast thread response citing all the DK + FD earnings calls this weeks + how obvious stable coins + prediction markets is a backdoor for crypto… but I digress. mainstream adoption will see its “next leg” via sports prediction markets + stable coins + regulation (all coming soon)

how would you measure crypto growth?

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a few ways but one thing we underestimate is public perception and public narratives about our industry

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Just watched the full clip. This isn’t just a public perception issue with $TRUMP. The concerns are legitimate. Vitalik raised similar points about political coins in this tweet

vitalik.eth

@VitalikButerin

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The risk of politician coins comes from the fact that they are such a perfect bribery vehicle. If a politician issues a coin, you do not even need to send *them* any coins to give them money. Instead, you just buy and hold the coin, and this increases the value of their holdings

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yes, that's the mainstream narrative about coins. The crypto world celebrated $trump and the rest of the world echos Vitalik and Scott Galloway's concerns.

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I know you’re broadly right (and it hurts that you are). I think that’s part of the problem with the current state of the “crypto world” it feels like most people are just here at chase the next 100x overnight Personally trump coin day was one of my lowest moments in the industry

realitycrafter.eth

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Deeply respect the honesty

Preach 🙏 Welcome to the heresy

michaelvarde.eth

So what you’re saying is… we’re early.

Stablecoins are not crypto?

Bubbles are good, as some would say. Then retraction around bubbles popping is good also 🫧

gud takes. #3 was the prevailing theme at farcon imo. literally everyone i talked to was building something around trading, markets and coins and i’m not sure how i feel about literally everything being financialized

Yes. Great crystallization.

imagine trying to be bearish rn lmfao

Once more of the global economy settles on chain it opens up the door to alternative units of account. Likely a necessary step to weaken central banking in the long run

VCs think in terms of markets.