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we’ve completely lost the plot on what crypto was supposed to accomplish - somewhere between nft flips, memecoin casinos, and yield farming ponzis, we forgot the actual assignment was building products normal people would use the brutal reality after 15+ years since Bitcoin, multiple bull runs, billions in VC funding, thousands of protocols crypto still has virtually zero products that regular people actually use in their daily lives not talking about speculation, im talking about utility - payments, remittances, savings, identity, coordination tools that solve real problems for normal humans who dont care about decentralization philosophy or token economics by now we should have captured 60-65% of global population with at least basic awareness and usage of crypto products - not trading, nor investing, actual functional usage where crypto provides better solution than existing alternatives

the obvious example everyone ignores - payments product that lets you send money faster, cheaper, more reliably than banks or payment apps should have billions of users by now - ignore this being a rocket science, its solving clear pain point everyone experiences normies dont care about “decentralized trustless permissionless” they care about…. does it work, is it easy, is it cheaper/faster than what i use now we had one job build products so obviously better that people adopt them despite not understanding underlying technology, same way people use internet without understanding TCP/IP

instead we built: ∙infrastructure for traders to gamble on dog coins ∙complex defi protocols requiring phd to use safely ∙nft marketplaces for jpeg speculation ∙layer 2s solving problems only layer 1 users have ∙governance tokens for protocols with no users missing the entire point - crypto’s value proposition was always “better products through different architecture,” not “new way to speculate on tokens” real products barely exist: where’s the payment app that replaced venmo for normal people? where’s the remittance solution that replaced western union at scale? where’s the savings product that actually helps people in inflation-heavy countries preserve wealth simply? these aren’t impossible

the shift happened gradually, started building for ourselves instead of for the world; optimized for crypto-native users rather than next billion; chose token appreciation over product adoption; forgot that speculation is supposed to fund building real things, not be the end goal itself we should have billions of users by now - not billions of speculators, billions of people using crypto products because they’re genuinely better than alternatives for specific use cases they care about conservative target.. 1-2 billion people actively using at least one crypto product for non-speculative purpose by 2025 - we’re nowhere close because we’re not actually trying

every cycle we convince ourselves “this time is different”: 2017: ico bubble, promised to fund real products2020: defi summer, promised financial inclusion2021: nfts, promised digital ownership2024: ai agents trading memecoins notice the pattern? each cycle gets further from original mission of building products normal people use the infrastructure excuse is dead - we have fast chains, low fees, good ux tooling, wallet abstraction, fiat onramps; technical barriers mostly solved real barrier is prioritization: easier to build for existing crypto users than solve hard problems of regulatory compliance, user education, partnership with existing systems required to reach normies

so we keep building inward - protocols for protocols, tools for traders, infrastructure for infrastructure, completely ignoring that adoption won’t happen through bottom-up crypto-native growth but top-down “this product is better” realization billions will use crypto eventually - but only if we actually build products worth using for reasons beyond speculation right now we’re on track for small % of global population trades crypto, everyone else ignores it as casino they’re not interested in, technology capability gets wasted onTokenFi garbage instead of solving real problems

jobs not done not even close, and every day spent optimizing yield farming protocols or launching new l2s for traders is day not spent building products that would actually bring next billion users we either refocus on original mission or accept that crypto becomes niche speculation platform rather than transformative technology layer - choice is ours, but window is closing

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