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Author: Richard Chen, Source: Author Blog; Compilation: Deng Tong, Bit Chain Vision Realm
For any cryptocurrency experts who have worked in this industry for a long time, there is no doubt that the culture of this industry has undergone tremendous changes in the past year.
Early pureist (encrypted computer party) and the latecomer (encrypted casino party) began to explode the cultural war, which caused differences between the builders of the encrypted community.
I will explain the positions of the two camps and how we fall into this conflict today, and then formulate a subtle way for the encryption industry how to solve its cultural war.
Encryption computer
The people in this camp believe that the ideal of the founder of the industry, Nakamoto, is about to put power from corruption to the people.
They are often people entering the encryption industry earlier.This group of people in 2013 was mainly hard currency liberals. They were attracted by Bitcoin and used them as a tool for hedging reckless monetary policy.For these stubborn Ron Paul gold fans, Bitcoin will become liquid sponge and absorb all over -behavior of the Fed’s money printing.
The group (my group) in 2017 is mainly technical experts. Their ideology may not be as good as the previous generation, but is attracted by cryptocurrencies as a new computing paradigm.Ethereum indicates that decentralized applications (DAPPS) are possible, so you can now have it without reading or writing data.Followed by the concept of Web3, as well as the intermediary large -scale technology companies and the Internet watchmen.
Today, these two groups represent the majority of silence. They still believe that Satoshi Nakamoto’s vision is still optimistic about the new use cases and products that promote the development of this field.But at the same time, they did not dare to make any negative remarks on the current influential popular Ponzi scams, otherwise they will be attacked by the online keyboard man.They remain silent.
Encrypted casino
The people of this camp cynical believed that cryptocurrencies were just a decentralized casino and hoped to maintain this state.The purpose of construction is to find new creative methods to melt and speculate all super -financial and speculative -whether it is the net assets of friends who use mobile phones, or using the garbage coins of the Telegram robot.
They are often people who enter the cryptocurrency industry in the later 2021 and have trade and financial backgrounds.They are a minority group who dare to speak.As a result, they dominated the online discourse and created a tension between the early pureists and the latecomers, similar to the dissatisfaction of localists’ dissatisfaction with immigrants of differentizations and changing culture.
Their age is also young.My assumption is that this is the second -order effect of the failure of the traditional financial system of the zero interest rate policy (ZIRP) and the millennials and Z -generations over the past ten years.Young people are increasingly felt that they need to get rich quickly in order to repay students’ tuition, loans and pay house mortgage loans.When people feel that they will always be in fierce competition, they will go to the casino gambling to get rid of the predicament.
How do we go to this step?
Casino is very useful for guiding cryptocurrencies.This is because “Degens” was an early adopter.They have risk tolerance and can become β testers of unbelievable financial products.It is easy for outsiders to ignore “Degens”, but they are the source of vitality of the encrypted world.They are blue -collar workers in the trenches and do it in each new product.
During the encryption bear market, no new users entered this field.Applications are in an impasse and strive to focus on the existing “Degens” strong user base.This is acceptable in the short term, because the transaction volume is mainly driven by these powerful users.For example, the top 2.2%of OpenSea users are responsible for more than half of its transaction volume.
However,The problem appeared in the project that the project became cynical, thinking that it was impossible for mainstream adoption.I thought that encryption could never cross the gap beyond the early “Degens”, the motivation was to expand the “degeneracy” to expand blockchain technology, and it was designed to be like zero -harmonious applications on the casino table.Therefore, we see the economics of the Ponzi scam, multi -level marketing plans, and the most disgusted parts in finance.
The Ponzi scam has a short -term product market, because there will always be thousands of core groups of the cryptocrean, and they will gamble on each new shiny speculative application.This has created a financial design zero -sum and money game culture. Influential people will deceive the purchase of unsatisfactory retail investors, but they are abandoned.This is why so many people are desperately trying to interact on Twitter and become influential people, because only in this way can the odds of the casino be beneficial to them.In the casino, influence is a rich business model.
Outside the casino, only “Degens” is disgusting for anyone who is not in the “Degens” bubble.I don’t blame ordinary consumers to hate cryptocurrencies and NFT.Whenever they hear this in the news, they are related to greedy, Ponzi schemes, and the worst characters on the Internet.Design zero -harmony applications will alienate more people enter the cryptocurrency field and use products on the use of chains.
We need to consider how to expand the cryptocurrency user base like Bitcoin ETF.Bitcoin ETF brings a fresh air to this field, because the trillion -dollar retirement account savings that have not been obtained through encryption technology can finally join Bitcoin for the first time.
In other words, how do we really get mainstream adoption?
Road
I met Steve Wynn in October, and he told me about his experience in developing hotels and casino business.One of his unique insights at the time was to focus on gambling experiences.Vegas used to be a place where people just came to gamble and left, and there was no reason to stay to do other things.
This sounds crazy, because the bets of each Las Vegas casino also offer concerts and performances, famous chef restaurants, luxury shopping, etc.But when the Mirage opened in 1989, it went against the trend, and its success quickly forced other casinos to invest in higher quality facilities and entertainment outside gambling.
In the 1990s, Wynn’s transformation of Las Vegason avenue in gambling -dominated destinations to world -class entertainment and leisure purposes played an important role.A good reception has made Vegas experience no longer zero -sum game, and the number of tourists visiting Vegas a year for various reasons increases the pie significantly.
Obviously, the encryption industry can learn from it.We need fewer zero -and -desktop games and more positive experiences.
Predating the market is a good example.Degens likes to predict the market, because they like to bet on the dual results of the binary results, just like they will win 10 times gambling on Alumincoin or lose all the money.At the same time, countless studies have shown that by eliminating prejudice and introducing “stakeholders”, the market predicts that the market is much more accurate than mainstream media and experts.
People who use the forecast market do not have to bet on it, but can use it as a source of news for geopolitical events, just like people do not need to visit Las Vegas for gambling.Even Trump now releases his Polymarket odds on Truth Social.
There are many other examples.Use decentralized physical infrastructure network (DEPIN) to obtain WIFI network or vehicle performance data.Use airdrops to motivate loyalty.Use NFT to make the emerging creator not have to pass the Hollywood offers.Cryptocurrency degraders are all early adopters, but the value they brings to society is positive.
