If you're wondering why crypto is being left behind while the stock market takes off, look no further than the "everything is a meme" crowd.
That type of thinking, which birthed ideas like ultra sound money, memecoins, DATs, etc... is why we're lagging.
It's not because the regulators are out to get us, or because crypto has an access problem, it's because the value prop of most crypto assets is not as good as other sectors.
We must, we MUST accept that crypto assets are subject to the same rules of gravity as every other asset on earth.
They will have to compete in the same arena as other industries like robotics, AI, etc... for capital.
We should accept that 99% of crypto assets will be valued on cash flows and dedicate all of our efforts to making those cash flows as high as possible.
Just look at which coins are outperforming today, tells you everything you need to know.
I'm one of the people most directly responsible for this outage. I take Sui outages extremely personally and am incredibly disappointed that this happened.
I'll echo what @EvanWeb3 said: Moving fast is no excuse for outages. This outage was caused primarily by an edge case in gas smashing introduced by address balances. However, we did not ship this feature carelessly. We spent over 6 months testing address balances and tried as hard as we could to exercise every edge case and combination of features we could think of. Unfortunately, we were bitten by an edge case that we did not discover during testing.
Again, this is not an excuse - it shows that our testing strategy was inadequate, despite how much effort we put into it. We did not have a systematic way to enumerate or discover all possible edge cases. We will be re-examining our approach in light of this. But I do want to emphasize that we did not ship this feature carelessly or in a rush. We made mistakes, but we were absolutely not operating in "move fast and break things" mode.
One more thing: Address Balances is by far the biggest change to Sui's execution model that we have shipped, and we don't have any plans to ship anything this large and disruptive again. It was a necessary change to make Sui into what it should be, but we don't seek out huge disruptive changes like this for the sake of it.
Now that the feature is out we will be redoubling our efforts to make Sui the most reliable L1. We have a lot of work to do, I'm excited to start on it!
Crypto has felt broken for a while.
The OGs made their money and left.
What’s left is top buyers, grifters, and people hoping someone else saves their bags.
Belief is at rock bottom.
Watching others win while you’re stuck holding the bag sucks.
Especially when the same people who dumped on you are now compounding elsewhere, whether it be in different coins or other industries entirely.
But guess what:
Complaining and replaying “woulda, coulda, shoulda” changes nothing.
You know what else doesn’t work?
Buying a coin, hoping it magically goes up, and then blaming everyone else when it doesn’t.
We all know the game.
Most shitcoins had no real value, it was never investing, it was just trying to flip bags before the music stopped. No need to act innocent when someone else beats you to the exit.
The old guard is gone.
There are no more true bag workers. Whales don’t act like whales anymore. KOLs don’t have opinions, they just have bag bias.
Here's the good news.
The playing field is wide open again.
If you don't like your position change it.
Figure out what you actually believe in and become obsessed. Whether that means getting out or doubling down, you need to figure it out.
Dming people on telegram, asking for hopium updates, or spreading hate on twitter is certainly not going to improve your situation. That energy is poison.
This isn’t a bear post. The game is not over. Quite the opposite.
I just see too many people moping around and felt compelled to say it:
No one is coming to save us. The sooner we accept that, the faster things change.
People are too scared to be bullish on anything crypto related right now. Can't blame them really, good chance you end up looking stupid, but...
Pessimists get to be right. Optimists get to win.
Equities are overextended.
Crypto is over.
AI is a bubble.
Precious metals had their run.
Homes are unreasonably expensive.
USD is on the verge of hyperinflation.
Most jobs won't exist in 5 years.
Welcome to 2026, are you having fun yet?
when people say crypto is dead, they don't mean the industry
the fundamentals of this industry are looking good
what they mean is that their ability to extract money from dumb retail has vanished - and with it their passion for this space
in this new era of crypto you actually have to build things of value to make money which understandably isn't for everyone
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crypto is no longer one industry —
it's at least 4:
1. stablecoins + payments
2. Bitcoin, crypto asset class
3. tokenization + onchain financial services (defi)
4. blockchain infrastructure
they are of course inter-related. but increasingly divergent in context
which is part of the mixed vibe right now
The people who make life-changing money in crypto all go through the same phase.
They believed when nobody else did.
They believed when crypto looked dead and boring.
They believed while holding bags down 90%.
They believed while everyone around them quit.
Then the god candles started appearing everywhere and they got filthy rich.
It’s already starting again. The people paying attention can see it.
If you’re still here, this cycle could change your bloodline.