ted (not lasso) on Warpcast

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ted (not lasso) pfp

ted (not lasso)

imo the best current proxy for consumer crypto users is mobile wallet users. while "consumer crypto" is the current buzzword, total consumer crypto users are lower than they were +2 yrs ago (24.5M then vs 23M now). if we now have the primitives to onboard new users, why do you think we are ~failing to onboard them?

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ted (not lasso) pfp

ted (not lasso)

shout out to @a16zcrypto for the real-time data: a16zcrypto.com/stateofcrypto/mobile-wallet-users.

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David Furlong pfp

this isn't counting all the consumer apps that have embedded wallets like privy. I think in the last 2 years there's been a marked shift from 2 years ago: user should go sign up to metamask, then come back to use my app now: just sign up to my app, it has a wallet inside A great example is warpcast

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jacob pfp

Wallets are so separate from these use cases which is super confusing and a huge barrier. Warpcast is a window into the future of what a crypto mobile app can look and feel like. I'd expect to see this number increase as the number of useful and easy apps increases. Wallets will be embedded but not the thing.

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Ben - [C/x] pfp

I'm not necessarily convinced we are. Does the data segment out by wallet type and est number of users with 1+ wallet? If not, the data could mean fewer wallets are being launched and/or people are using fewer different ones. Wallet market consolidation makes more sense to me than fewer overall users.

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proxy pfp

@proxystudio.eth

tried to set two friends up with coinbase mobile wallets yesterday linked to their coinbase accounts and it was still a clunky process full of passwords, seed phrases, two factor auth, apple IDs. mostly people are unconvinced that what crypto does is different or better than what they can do with Venmo & a debit card

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Ox Bid pfp

current experience with wallets is extremely complex. the infrastructure has just arrived, and it takes time to build consumer apps on top of that. Many don't understand crypto's utility, and are scared by the lack of info and technical language.

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Mark Fishman pfp

I’m actually surprised these numbers didn’t dip as much during the past few years Seems like a lot of retention?

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zack pfp

We need easy to grok, non-speculative use cases that are objectively superior* to web2 * More value, more utility, more entertainment, or true novelty

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Vinay Vasanji pfp

@vinayvasanji.eth

My thoughts then and now https://warpcast.com/vinayvasanji/0xc766d97a

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tomu pfp

the onboarding is happening without them needing to install a mobile wallet the wallet is already integrated into the app

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𒂠_𒍣𒅀_𒊑 pfp

𒂠_𒍣𒅀_𒊑

consumer mobile is a duopoly. if people could directly order the device with new primitives & shared security, I think this trend would change. but 1.5 million units is not a small number, imho.

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Chris Collins pfp

A couple hypotheses: - People generally are still crypto skeptics due to the events leading to and during the bear market - Most current use cases are for the internet-native / terminally online, which might be limiting the appeal - Not enough apps are leveraging infra that abstracts away unnecessary crypto complexity

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Colin Johnson 💭 pfp

Colin Johnson 💭

If we mapped out the YoY growth as a chart instead it’d tell a better story too.

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kia pfp

why should there users onchain at all? the only solid reasons have been these: 1. sound money (btc, eth -- i was in this camp) 2. stable money (stables -- turkey, argentine...) 3. speculation 4. free money (yield farming, airdrop framing)

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antaur ↑ pfp

I think web2 folks need people already here to on-board them step-by-step. I am working on an MVP for a simple website called "farcasterland" 4 friends & clients who trust me IRL 2 feel comfortable/confident to land themselves onto the stack (FC FID, Rainbow, Zora, Paragraph, Aerodrome etc.) with specific CTAs.

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Christian Montoya 🦊 pfp

Christian Montoya 🦊

I think the use cases are not compelling to a broad category of users yet. Even if we have better primitives to onboard them, if there isn't anything they want to do, why would they bother?

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Rani pfp

the valley between 2022 and 2024 was a direct result of FTX and other centralized blowouts that made a massive dent into the reputation of “crypto”. naturally will recover.

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Stéphane Zermatten pfp

Stéphane Zermatten

@crypticzed.eth

a better proxy imo is 'embedded' wallets (although arguably harder to measure) they have a big impact on the onboarding process, to go mainstream we need to meet users where they are and abstract complexity

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asdf pfp

Good points in this thread already. I'll add one more. Building mobile-first takes up resources (time + energy). Most consumers should be onboarded via mobile. But it makes sense to start with web, iterate on the product and then launch on mobile. Consider @unlonely.

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