ted (not lasso) on Warpcast

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ted (not lasso) pfp

ted (not lasso)

thoughts from a16zcrypto.com/stateofcrypto for discussion cc @a16zcrypto: competition gets most intense when resources are limited. in consumer crypto, resources = users. given the intense tribalism rampant on crypto twitter, it's no surprise that crypto isn't onboarding new users — and we haven't since april. since april, there has been a 3.25x increase in # of unique users on blockchains (37M to 125M) and plateaued mobile wallet users (27M). great, you may think. think again. from april to september: - transactions across blockchains dropped from 2.67B to 2.1B; the avg txns per unique user dropped nearly 75% from 72 to 16.8 - DEX volume dropped nearly 30%. stablecoin volume dropped almost 25%, although had a record month in august. NFT buyers dropped 25% - worse, imo, is the # of active and interested developer building publicly in crypto has been on a downward trend since january 2022 if you're a consumer app targeting crypto only, i hope you have enough runway to wait for a true bull market.

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ted (not lasso) pfp

ted (not lasso)

also i don't know why more people don't refer back to this data as a public good. is something wrong with it? how can it be improved?

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kia pfp

> competition gets most intense when resources are limited. in consumer crypto, resources = users crypto users use multiple products tho

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Giuliano Giacaglia pfp

Giuliano Giacaglia

Best time to build! Less hype and more substance of the teams that are working in crypto!

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polymutex pfp

One theory states that crypto's reputation is so cooked that adoption won't take off, at least not in its common meaning of "humans directly touching the chain". It can now only happen by "backend" means, slowly replacing invisible parts of web2 infrastructure. Takes longer and attracts fewer devs as it's not shiny.

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J Finn 🎩 pfp

according to that graph about ‘time to the bull market post BTC Halving’ … the bull market starts in the next couple weeks, so maybe we are close.

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Chris Carella pfp

Would love for them to add some charts on investment(s) in the space. A lot of devs I know who left crypto did so after their startups shutdown and they needed to get another job and their wasn’t many new opportunities in crypto. That’s a personal anecdote and likely doesn’t tell the whole story but I think it is at least some of why developer interest is down. Despite FC hacker culture, most devs work on things for a paycheck.

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Dvyne pfp

The bear has been quite long though Only bull can save us now Also, farcaster will make crypto onboarding great again :)

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Joe Blau 🎩 pfp

2000 $DEGEN - there are a few products I’ve seen that are trying to onboard new users, but most are focused on the current (very small) set of active users. The only product I would tell new people to use today is Coinbase, and thats just a bank, it’s barely crypto.

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marv 🎙️ pfp

That tribalism point screams from the mountaintops. I think this toxicity is the single biggest impediment to adoption. Neutrals are completely put off by giving a potential new service a chance because of this.

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BFG 🎩↑🌱 pfp

BFG 🎩↑🌱

Yeap, the problem imho largely is the missing skill sets on most teams to actually target non-crypto natives Doesn’t matter how you call it - distribution, marketing, GTM, etc - it’s essentially all about figuring out how to talk about the problem you’re solving to the right people And most people don’t know how to do it 🤷‍♂️

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