Recommended Watch: Cryptos 'Quiet Quitting' Crisis: Travis Kling on the Industry's Existential Moment
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Crypto is experiencing a pretty powerful vibes recession.
There are more memecoins, and more altcoins, and more NFTs, down infinitely from their peaks. Not to mention more token unlocks from VCs that are pressuring altcoins. In short, vibes are down.
To Ikigai Asset Management founder Travis Kling, who recently published another viral anthropological take on the industry in 2024, it's not at all surprising to find crypto optimism in the proverbial shitter.
"I think what's become apparent to me is that the good guys are getting their ass kicked by the bad guys. That was that was made blatantly obvious in 2022. In some ways, we're still dealing with the aftermath of the damage done in 2022," Kling told Coinage. "When we were in pretty deep bear markets, I think you still had broad brushstrokes of optimism, and you still had acute project specific excitement, and I think you have a lot less of that today."
Kling's prior post, titled, "Financial Nihilism: The Zeitgeist of Young America," went viral and his recent update on what he sees as the latest trend sweeping the space — "quiet quitting" — hit again as it captured the exhaustion and disillusionment grow among industry veterans and enthusiasts alike. He told Coinage that the post wasn’t born from personal frustration alone, but rather as a reflection of conversations he’s had with many others in the industry. “It seemed like it had to be a trend,” Kling remarked, pointing out that a shared sentiment was emerging: disillusionment with the space’s lack of tangible progress despite significant milestones.
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There are more memecoins, and more altcoins, and more NFTs, down infinitely from their peaks. Not to mention more token unlocks from VCs that are pressuring altcoins. In short, vibes are down.
To Ikigai Asset Management founder Travis Kling, who recently published another viral anthropological take on the industry in 2024, it's not at all surprising to find crypto optimism in the proverbial shitter.
"I think what's become apparent to me is that the good guys are getting their ass kicked by the bad guys. That was that was made blatantly obvious in 2022. In some ways, we're still dealing with the aftermath of the damage done in 2022," Kling told Coinage. "When we were in pretty deep bear markets, I think you still had broad brushstrokes of optimism, and you still had acute project specific excitement, and I think you have a lot less of that today."
Kling's prior post, titled, "Financial Nihilism: The Zeitgeist of Young America," went viral and his recent update on what he sees as the latest trend sweeping the space — "quiet quitting" — hit again as it captured the exhaustion and disillusionment grow among industry veterans and enthusiasts alike. He told Coinage that the post wasn’t born from personal frustration alone, but rather as a reflection of conversations he’s had with many others in the industry. “It seemed like it had to be a trend,” Kling remarked, pointing out that a shared sentiment was emerging: disillusionment with the space’s lack of tangible progress despite significant milestones.
SUBSCRIBE TO OUR NEWSLETTER: https://coinage.substack.com/
STAKE WITH US: https://daic.capital/?utm_source=coin...
SUBSCRIBE to Coinage to never miss a video!
Coinage is a community-owned show answering crypto's biggest questions. You can learn more about the project at https://www.coinage.media/
#cryptocurrency #cryptonews #bitcoinnews #defi #elections2024 #crypto #bitcoin
Not that everything is 100 percent bad, as the real believers in a decentralised economy are betting yet for real, useful crypto, and this is the real spirit of the crypto industry, not the casino we witness nowadays. So what is your opinion? Are you also a “quiet quitter”?