Very interesting post. I am not a "trader" so I appreciated the layman's explanation.

Here are my thoughts as a "normal" person who is new to SocialFi yet very supportive of the decentralised, uncensored, philosophy of such platforms.

I am a hobbyist game programmer. I found the process of creating an account confusing. As an experiment, I asked a group of friends on Discord to make accounts on here. These people are ordinary people such as myself. They all have numerous accounts on numerous centralised social platforms such as Facebook, Instagram, YouTube, etc. I didn't help them create an account.

None of them completed the account setup step. They all gave up. They all said it was too complicated.

It is easy to dismiss this as them being "too stupid" or that "SocialFi is not for them" but this is a mistake if the goal is mass adoption. Every centralised social media platform has the simplest, smoothest, easiest onboarding process possible because mass adoption requires designing for the lowest common denominator.

Maybe SocialFi by its technical nature can never have a simple onboarding process? I don't know, but this is the result of my little experiment. Thirty ordinary people of at least average intelligence (although I would say they are all of above average intelligence) who all have numerous social media accounts failed to make a SocialFi account here and gave up.

With regards to the drop in the "value" of the various coins, I see this as being more the fault of speculative traders than anything else. In my opinion, the valid use case for crypto currencies is financial freedom. The removal of the middle-man from monetary exchanges between individuals. The "value" lay in the coins as currency, not as speculative assets. As in the world of physical commodities and fiat currencies, the money lenders and speculators have corrupted the crypto space, to say nothing of the pure conmen and snake oil salesmen who rapidly flooded the space with pyramid schemes and con coins.

The wave of interest and desire for financial freedom from parasitic middlemen, which was felt by ordinary people then and still today, was was hijacked by speculators, money lenders, and conmen. What we saw was a speculation bubble driven by greed. The "fall in value" you describe so well is due to the fact that these financial parasites have moved away from crypto and are now milking the AI bubble for every drop of value they can squeeze out of it before that bubble bursts.

Just my thoughts. Thank you for your post.

^{replied to 0:36 on 3speak.tv}