One can only hope that this wind ends up being the crazy population control/manipulation that is going to be attempted by the big social networks before the US elections.

I really don't agree that crypto's problem is that it's boring... A lot of people are trying too much to entertain in crypto, and I think they are missing the point. Crypto can be boring, as long as it solves a problem really well, that nobody needs to think about any more. And UX is the barrier why we still have to think about wallets, and seed phrases, and exchange off/off-ramps... It has to be the obvious choice for people for a specific use case, and not some kind of perpetually entertaining device.

+1 to zinkk.eth. Stablecoins are boring and they're one of the primary use cases of crypto.

I don't think that the UX is the barrier, though. I believe the problem is solving a real pain.

People from high-inflation countries like Argentina or Turkey had enough incentive to create wallets and start using stablecoins, even despite the bad UX.

In 2021, despite much worse UX than we have today, we saw tons of retail because crypto (at least theoretically) solved the problem of "getting rich quickly."

Even Kiwi is an interesting example. Some would say we are boring because we just help people find news, essays, and products. Even the UI is very toned down for web3 standards.

But keeping up with crypto is a real pain, especially for people who work here full time, so that's why we had some growth (though ofc we're still far from being an industry juggernaut like ZORA or Farcaster)

@mac UX is relative. If you're solving a novel problem in a novel way, that there isn't any solution for, then users will be more forgiving on the UX (since you are the only option). But if you are aiming to solve an existing problem in a better way, then UX plays a more important role. This is the reason why people in US/EU prefer their native payment solutions over crypto - because crypto still has worse UX than native banking apps in this part of the world. But in Africa and parts of Asia they are completely excluded from the banking system, therefore crypto's UX is compared to no UX.

In 2021, despite much worse UX than we have today, we saw tons of retail because crypto (at least theoretically) solved the problem of "getting rich quickly."

I think people just got bored during that time and rollercoasters weren't available :D

@zinkk.eth

Agree that the UX is relative. It's very hard to make the crypto UX better than using a neobank like Revolut. Not even sure if it's possible.

One opening here is adding more utility. Revolut offers me a 2% yield on my EUR. Not bad, but in crypto I could get around 7-10% on my USDC.

So if we manage to show people: "Hey, the UX is the same, but you can get 3-4X higher yield if you set up a wallet and it takes only 3 clicks", then we can win.