@monteluna
What I'm waking up to:
- Cardano's biggest shiller and Ethereum hater Charles with millions of followers basically saying this shit is fubar and he has no idea how to fix it. I mean you sold all this nonsense about Haskell and got armies of people to follow you against Ethreum, claimed DeFi was stupid, pivoted to DeFi anyway, and now you're 5 years late and the only users of the chain are just buying and selling ADA.
- Zcash after being shilled by the KOL cabal actually had a backdoor where it could print infinite money, but because it was shielded no one could actually verify it wasn't inflating. Yeah, it's just a coincidence *wink*. AI caught this despite "audits".
- Someone on Farcaster is begging to sell conference tickets. We're at the stage of the market where going to conferences isn't even worth anything, and nobody is buying that shit big dawg.
Crypto has exhausted the market with countless scams, bullshit AI wrapper products, and copies on top of copies. The good times were back in 2020 when people were building things that were new and actually useful.
At the moment, it's just AI slop, memecoins, and nepo baby virtual golf memberships like Network School.
The people here are mostly using AI to build a clone of a clone of a product with 15 different competitors, and grifting their way to an exit at some corpo "blockchain fintech". You'll almost never see a new product category with people using AI correctly, and all those products are losing money drowning in a sea of noise until an inevitable company winddown or acquihire. Also, if you buy their tokens or invest in those companies, you get $0 when that happens.
The reality is crypto is mostly uninvestable at this point. The leadership is dusted. The users are dumb and broke chasing the next scam. The technology is useless with zero market demand, even if it does work.
Thanks for playing.