@zengjiajun_eth counters Travis Kling’s “Pervasive Quiet Quitting” by arguing that crypto is still in its early stages. They highlight Ethereum’s Merge (only two years ago), the rise of Layer 2 solutions like #Arbitrum , and recent innovations like #zkVMzkEVM and account abstraction, which show ongoing infrastructure development. #Bitcoin ’s dominance above 50% is viewed as evidence that "crypto" is still more about #blockchain than currency. They also note that while $20 billion in venture capital has flowed into crypto, it’s small compared to the $200 billion poured into #AI , signaling that crypto remains underfunded and early in its evolution.
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Bearish
"Pervasive Quiet Quitting," by Travis Kling
#TravisKling examines the current malaise within the #crypto industry, which he believes stems from a deep sense of disillusionment. He describes how many long-time crypto participants are now quietly disengaging, having lost faith in the sector's ability to deliver on its promises of solving real-world problems and gaining significant adoption.
Kling notes that from 2017 to 2022, crypto was marketed as revolutionary, with projects like #DeFi , #NFTs , and #stablecoins fueling optimism. However, many of these initiatives have failed to prove their worth, leading to a broader realization that much of crypto has accomplished little despite huge investments. Even once-promising trends like gaming, the metaverse, and decentralized social media have faltered.
He highlights that while some have left the space entirely, others remain due to the perception that crypto still offers better financial opportunities than traditional markets. The lack of exciting new developments has led to widespread disengagement, a trend Kling calls "Pervasive Quiet Quitting," as people struggle to stay motivated without the belief that crypto will fulfill its once grand potential.
Kling also critiques the misaligned incentives in the crypto VC landscape, where investors profit from early token listings while retail investors bear the losses. He sees the current market as rewarding mediocrity, which has further damaged the space's credibility.
Despite the bleak outlook, Kling suggests there may be future opportunities, such as changes in regulatory frameworks that could revamp the Altcoin landscape. He envisions a potential Trump administration introducing new regulations that enable Alt tokens to function like securities, which could lead to renewed interest and legitimacy.
In sum, "Pervasive Quiet Quitting" reflects Kling's concern over the direction of crypto, where participants are increasingly disengaged, but he also sees potential catalysts for future growth if the industry's structure can be reformed.
#TravisKling examines the current malaise within the #crypto industry, which he believes stems from a deep sense of disillusionment. He describes how many long-time crypto participants are now quietly disengaging, having lost faith in the sector's ability to deliver on its promises of solving real-world problems and gaining significant adoption.
Kling notes that from 2017 to 2022, crypto was marketed as revolutionary, with projects like #DeFi , #NFTs , and #stablecoins fueling optimism. However, many of these initiatives have failed to prove their worth, leading to a broader realization that much of crypto has accomplished little despite huge investments. Even once-promising trends like gaming, the metaverse, and decentralized social media have faltered.
He highlights that while some have left the space entirely, others remain due to the perception that crypto still offers better financial opportunities than traditional markets. The lack of exciting new developments has led to widespread disengagement, a trend Kling calls "Pervasive Quiet Quitting," as people struggle to stay motivated without the belief that crypto will fulfill its once grand potential.
Kling also critiques the misaligned incentives in the crypto VC landscape, where investors profit from early token listings while retail investors bear the losses. He sees the current market as rewarding mediocrity, which has further damaged the space's credibility.
Despite the bleak outlook, Kling suggests there may be future opportunities, such as changes in regulatory frameworks that could revamp the Altcoin landscape. He envisions a potential Trump administration introducing new regulations that enable Alt tokens to function like securities, which could lead to renewed interest and legitimacy.
In sum, "Pervasive Quiet Quitting" reflects Kling's concern over the direction of crypto, where participants are increasingly disengaged, but he also sees potential catalysts for future growth if the industry's structure can be reformed.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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