Bull markets tend to attract people who are here to get rich quick and get out rather than people who care about building shit that people can actually use.
I’ve thought about this a lot, mostly when talking to my friends who are completely divorced from everything happening in DeFi and crypto generally.
Sometimes it does just seem like it’s all speculative financial games (Bitcoin can even feel this way as well at times).
“Community” can also sometimes feel like a bunch of passive participants constantly asking “wen moon?”
But seeing teams and other protocol contributors who are committed to building projects that actually matter and will create real value for people always keeps me optimistic.
The seeds of our financial future are clearly there underneath the surface of speculation.
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That said if I had to project 2 years out, how confident would I be that Maker won’t be disrupted on all three of the lending, synthetics, and stablecoin fronts?
Maker is resilient and battle tested, but Lindy effect only goes so far if Maker is fundamentally flawed.
The most effective meme I’ve found for Ethereum is “Digital Economy”
From there it’s easy to layout how Ethereum is the foundation for a variety of digital institutions (protocols) built upon the same principles of decentralization as Bitcoin.
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With “Bitcoin : Digital Gold :: Ethereum : Digital Economy” as the framing its then much easier to describe what a bet on ETH is.
I first explain DeFi (the new Wall Street), NFTs, Web3, and all the other mind blowing projects built on Ethereum...
...then illuminate how ETH is at the center of all it.
If BTC is like gold - an asset that people store value in but don’t use as money.
Then ETH is like money - the most liquid asset in Ethereum’s on-chain economy that is demanded for a wide range of economic uses.
With the way many Bitcoiners romanticize the gold standard, you would think that the gold standard was actually popular when we were on it.
Hint, it was not.
I strongly believe BTC is an important check on privileged parties controlling the money supply and abusing their power.
I also believe the certainty Bitcoin provides people over the preservation of their wealth is important as well - Bitcoin is stable, apolitical, and reliable.