What I'm frustrated by in crypto

Crypto is EARLY. Painfully early. If you’ve ever used any of the types of applications I talk about in this newsletter then you know the user experience is usually terrible. If you make a careless error you might lose all your money. If you pick a token at random it’s more likely a scam or shitcoin than anything legitimate.

But as much as crypto fans want to believe they’ve created something startling and revolutionary, in reality, the experience feels: unfamiliar (payments happen off-platform), overwhelming (you end up in a confusing maze of wallets - jumping from Coinbase to Metamask to Uniswap, often unclear what you own), and pyramid scheme-y.

The recent debate over use cases in crypto has laid bare a hard truth: web3 isn’t as good at doing the things that web2 companies do as web2 companies are. That’s fine. Of course people aren’t impressed by DAO governance, and rightly point out that it’s just a messier implementation of ideas that already exist; recreating existing structures on-cha... See more