I feel like some of the skepticism of crypto is that it has yet to lead to anything really world-shifting. Even in 17 years. By contrast, if you look at social media or LLMs, those had already reshaped the world within a few years. So if I were a VC and I wanted to bet on something with upside, I’m not going to be as interested.
1) I think bitcoin, stablecoins, and possibly even Polymarket are world changing at this point.
2) It would've been a lot more profitable to invest in OpenAI before ChatGPT or Anthropic's seed round than it is now. If you believe crypto still has potential, this is the point of maximum return on the risk vs return curve. So, because VCs make all of their money with a few moonshots, this should actually be the point where crypto is the most interesting.
Yeah, I was taken aback by that sentence too. I was a "crypto developer" and I was drawn to it because that's where all the smart devs were at the time. I learned a lot from them. I tried a lot of projects that could maybe "help the world be a better place", you know, "meanful dApps" and had a few devs like what I worked on, but the broader crypto community (non-devs) just wanted another casino. It was very frustrating.
Another thing the author missed was that a lot of the "smart devs" have all gone to AI now. And I've followed them over. And, again, I'm learning a lot from them.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.
1) I think bitcoin, stablecoins, and possibly even Polymarket are world changing at this point. Cmon, to say Polymarket is virtually unknown is just ridiculous.
2) It would've been a lot more profitable to invest in OpenAI before ChatGPT or Anthropic's seed round than it is now. If you believe crypto still has potential, this is the point of maximum return on the risk vs return curve. So, because VCs make all of their money with a few moonshots, this should actually be the point where crypto is the most interesting.
We basically have a chicken-and-egg disagreement here. You are saying that crypto hasn't solved anything, so VCs aren't investing. I'm saying that crypto will never solve anything if VCs don't invest.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.
I feel like some of the skepticism of crypto is that it has yet to lead to anything really world-shifting. Even in 17 years. By contrast, if you look at social media or LLMs, those had already reshaped the world within a few years. So if I were a VC and I wanted to bet on something with upside, I’m not going to be as interested.
1) I think bitcoin, stablecoins, and possibly even Polymarket are world changing at this point.
2) It would've been a lot more profitable to invest in OpenAI before ChatGPT or Anthropic's seed round than it is now. If you believe crypto still has potential, this is the point of maximum return on the risk vs return curve. So, because VCs make all of their money with a few moonshots, this should actually be the point where crypto is the most interesting.
Developers are at fault for not creating meaningful dApps? What the hell.
At least before, profitable and impactful were consequences now it’s the entirety of meaning?
The scope will shrink and some tech-brahs are going to learn some Rust or at least prompt it for MCP’s to remain. The Rest is good riddance honestly.
Treating a decentralized ecosystem with centralized non-sense is not only meaningless but extractive.
Yeah, I was taken aback by that sentence too. I was a "crypto developer" and I was drawn to it because that's where all the smart devs were at the time. I learned a lot from them. I tried a lot of projects that could maybe "help the world be a better place", you know, "meanful dApps" and had a few devs like what I worked on, but the broader crypto community (non-devs) just wanted another casino. It was very frustrating.
Another thing the author missed was that a lot of the "smart devs" have all gone to AI now. And I've followed them over. And, again, I'm learning a lot from them.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.
Same answer I gave Keeton.
1) I think bitcoin, stablecoins, and possibly even Polymarket are world changing at this point. Cmon, to say Polymarket is virtually unknown is just ridiculous.
2) It would've been a lot more profitable to invest in OpenAI before ChatGPT or Anthropic's seed round than it is now. If you believe crypto still has potential, this is the point of maximum return on the risk vs return curve. So, because VCs make all of their money with a few moonshots, this should actually be the point where crypto is the most interesting.
We basically have a chicken-and-egg disagreement here. You are saying that crypto hasn't solved anything, so VCs aren't investing. I'm saying that crypto will never solve anything if VCs don't invest.
I think this article is an example of an increasingly small echo chamber when the 'success' stories of pump.fun and Polymarket are literally ultra-niche corners of the internet and virtually unknown outside of a subset of the crypto community: itself a niche.
Maybe what most VCs have realised - as have most others - is that crypo, even Bitcoin, hasn't actually solved any problems, done anything of note or even suggested a path forward to relevance. It's been years and all crypto has to show for it is scams, fraud, environmental damage and another avenue for criminals to launder. Until there is a purpose beyond creating yet another short term ponzi rug pull coin crypto is set to die.