Why are crypto folks disappointed by this bull market?

I think people are confusing bull markets with bubbles, and what they’re excepting for is a new crypto bubble to form.

Bubbles are defined by new narratives that focuses the world’s attention on new possibilities – like digital artifacts for the metaverse, or entirely new mechanisms for capital formation. That happened in 2017/18 and 2021.

What we have in crypto today is a bull market – things like prediction markets working well – but not a bubble, which is obviously more exciting and popular.

Meanwhile, AI is in a bubble because there was a breakthrough that draws everyone collectively to reimagine society. Real AI is not a reality today and will take years of investment and time to get there. The AI bubble will eventually subside just as crypto did in 2021.

Crypto will continue in a bull market until there is a new narrative that draws the world’s attention to new possibilities we can imagine and speculate on together.

@stackdotso. Prev CTO/cofounder of mirror. strangechances

Find me on the other side of your mev  - Maximal expressive value

why u think AI is in a bubble ? there is a lot real advancement there, may be bit overhyped AGI element

Agreed. Where is the dapp to onchain the world.