How many times have you heard people talk about “HODLing” and seemingly want “mass adoption” via this preaching? It's a rather funny judgment that many in crypto seem to believe that mass adoption is a pump signal because “retail money” is coming in.
What we call retail money should actually be “consumers money” and the reality is that said money does not care about our shitcoins.
One thing I've come to realize in the last couple of months is that achieving mass adoption simply is attracting a vast network of “consumers” and that's people who frankly don't give a shit about generational wealth, hence, won't be interested in our bags of memes, so called utility tokens that only inflate and the rest of our shitcorns.
I see this concept of if you don't hold, you'd die poor and I'm like well, not exactly. One could build an app for you, the “HODLer” to lock up your assets for some yield then take a percentage of that yield and dump it in the markets and do just fine. But of course, not everyone is a builder or developer one might be tempted to say.
Yes, that is true, but wanna know what else is true? There's a great deal of people out there that have zero dollars invested in the stock markets but are doing pretty great. But when we talk about crypto and the future of finance we seem to make it appear like everything will revolve around it so much that everyone will need to be a HODLER.
Well spoiler, everyone will use crypto at some point, but it won't be your shitcoin and it won't be about HODLing as an investment!
This ideology has kept us running in circles, talking about the same things. Mass adoption, attracting investors within a network of consumers, so much that it's been 15 years? And we've not made significant progress within the consumer market because we want consumers to be “investors” when that's not their role.
Consumers don't want your volatile assets
So they'll dump it if you hand it to them.
Crypto's mass adoption, at the extensive level, will be via stablecoins, not free-falling assets like ETH and the likes. Consumers do not need that sort of financial exposure.
The reason why venture capitals keep flowing towards infrastructure projects in the hundreds of millions is because they have studied the industry and understood what value currently lies here.
Don't think for a second that they are stupid. All the Ethereum killers and Layer 2s are easy money for VCs.
Unsure how?
Crypto is currently dominated by “investors” doing a variety of things. Each new chain, especially when well packaged creates a certain level of hype that builds momentum for the markets.
This momentum is the volume to which VCs can dump their bags on. The level of interest that exists when there's a chain cannot be compared to that of mere applications because the people that exist in this market are investors and content creators who get excited about a new Whitepaper and hype it all day long.
Just take a look at Story protocol, which raised a total of $140 million to build what they call the world's IP blockchain.
I don't know what tf that means and frankly don't care right now, but the pattern is clear. VCs are currently even pushing back on things like airdrops as that gives away some of the value they would have earned. For anyone that's been paying attention, farmers literally get called e-beggars and some pretty messed up shits just for using a protocol, building trading volume(which cost money btw) in hopes of qualifying for an airdrop.
That said, VCs will only begin funding DeFi apps for example, when they start truly focusing on what matters to their target market which is consumers.
Building a DeFi app for mass adoption around an inflationary token is just blatant stupidity. What consumer wants to put money into a system and wake up to be 23% poorer?
Until we start building things that consumers actually care about like smooth payments systems with a stable currency, sustainable savings applications, monetizable social networks that can generate revenue, pay users without a witch hunt and not one that fails to acknowledge the problems facing it which is the absence of revenue structures.
Without these things, we are only just going to keep going in circles, seeking mass adoption, when there's literally nothing that we've built that's suitable for mass adoption.
Our biggest problem is that we expect people that should either be buying our product or using our service, to come in and buy our shitcoins and supposedly hold and never sell for generational wealth.
That's just peak delusion and will never happen.