Caffeine not being adopted. Burn rate too low. Ecosystem projects dying. Key people at Dfinity leaving, while saying they are leaving the project “in the best hands”. Dumping of tokens by “early unknown investors who Dom met once”. Wars between node providers and other individuals. Token price in the gutter. No usdt. No usdc. No one really using ckTokens. DeFi in the gutter. Dfinity refusing to investigate….
A major pivot is needed. We need to get rid of being a “computer” and move to becoming a cloud provider. We have everything in place but there are hard-headed people who do not want to see the reality for what it is. No one is coming to adopt Motoko. This cognitive dissonance should stop because we are clearly failing as a blockchain. A clear redesign to be adaptable to web 2 builders is what we should be focusing on. A decentralized vercel + cloudflare sort of thing. It is very clear and very annoying to see people at the helm of Dfinity ignore any sort of feedback. The need to be futuristic has turned into cultish delusion and we are clearly on the way to 0$ a token.
Nothing is going to happen until this is addressed. No amount of cost cutting can mitigate the fact that we are not properly set up for any sort of positive momentum. Not a single developer I know has ever heard of Motoko. We might as well accept that we are a toy project. No serious bank or institution would use a project that has not really been battle-tested. It’s time to accept that perhaps we were wrong. We are chasing losses that will never be recovered.
As a billion dollar project we are making 4$ a minute after 4 years of usage and close to a decade of development, without accounting for any costs. Most of the burn coming from Bob and other meme burn projects, not actual teams delivering product. No one can say that this is a good sign. 1 million canisters? Well, the majority of them are spawn from the single canister per user architecture of projects like OpenChat. Maybe sooooooooooooooooooooooooooooooon things will change.
I remember watching this video where Steve Jobs was responding to an engineer who was angry that Apple was moving away from a language that they had developed internally for a long time to an external framework and he said that he was sorry but an organization has to adapt to change in spite of such losses. I suggest Dom and Dfinity do the same. This is a sinking ship. Kadena was a warning sign. We will follow suit if nothing changes
No one is using Caffeine. You can argue as much as you want but the CBR is really the only truth we can refer to. It has not moved at all since Caffeine was launched.
We have to stop with being delusional and blindly optimistic. It was cktokens will save us, then Bitfinity, then Omnity, then Motoko, then Object Storage, then it was the seed unlocks, then …, then Caffeine since last year, now it is Caffeine should do blah blah blah…. Now it is Project 70 and how we are close to “flushing out” the seed investors. Nothing will change until we look at what is fundamentally wrong with ICP. The tech stack!
I think we need to make ICP as close to real business/company as we can, it means economics has to be sustainable.
Burn has to be more than minted ICP for node providers. About burn from caffeine, if 10 apps consume 3 credits within 23 days, than there cant be much burn. https://forum.dfinity.org/t/caffeine-ai-growth/59726/136?u=henn91
Love this, thanks @ZackDS. It’s really true! We’ll live to see the change, I’m sure. Not sure when or exactly what form it will take, but it will be transformative. Best bets are still on ICP if you ask me. Set and forget (for anyone who can’t contribute anything useful), and in any case short/medium term price action is a distraction.
I would exclude Motoko from this list. I realize that is not the best for adoption, but I don’t see any failure in this. Having own language it’s amazing oportunity to redefine some things, which sould be redefined.
The problem is that it will never be adopted because it is just too niche. Even go from google had a hard time getting adoption. It perhaps can be supported as one language of many. Why reinvent the wheel?
The problem is trying to be a computer and a cloud provider at the same time. We cannot call aws our competitor when we literally have nothing in common. We are just an over engineered alternative with a new paradigm that makes it impossible for any productive use
Because Go wasn’t part of paradigm shifting. Just yet another language, not diverse enough. Promising better performance only.
Such things only work at the beginning of a revolution, when you’re replacing the entire tech stack anyway. The next opportunity won’t come for another 30 years. There are a few wheels to improve actually.
But, yeah, I think IC is missing out on a huge opportunity for adoption by other blockchains. I think they’d prefer to have infra on blockchain rather than AWS. If only it were better advertised as being like IPFS, only more badass.
I think from the lens of, we need more tools for people to use a familiar stack to make onboarding easier, what you’re saying makes total sense.
Pushing motoko only makes sense if there is proof that AI actually “writes better code” with it. And the data just simply isn’t in yet. That is the advertisement, that it was designed for AI, but we are still testing that theory.
I understand your point of view. Nevertheless, that is not happening. web3 is not going to do anything. Most of the promises made are pretty much not working. That is why even here, Dfinity has to adopt off chain blob storage and google sign in.
The only promise of blockchain was decentralized governance which in fact has turned out to be authoritarian. My claim is that we can use blockchain to create a decentralized run version of vercel/cloudflare/aws instead of trying to reinvent the wheel basically in a way that is not in any way compatible with modern, well adopted, documented, supported and battle tested technology with billions of users and millions of developers. It has been 4 years for Pete’s sake
We can slowly introduce the new paradigm and iterate usage and testing with users just like aws did with lambda and serverless, but trying to hope for adoption with something entirely different is a just a pipe dream
True but I believe that not all is lost, we are just beginning and everything is in our hands.
I’m not convinced that it’s Dfinity’s fault, but I won’t comment because I don’t know.
If anyone watches Fallout on Prime, the latest episode reminds me of something… the division of the Brotherhood of Steel into factions fighting for power…
not blaming Dfinity for trying. But feedback is important in terms of improvement and direction. Dfinity should look at what is wrong and diagnose instead of chasing the next thing that will magically solve adoption. I think they should walk back and revise the tech stack and cloud model. They need to deprecate canisters and slowly adopt the current web standard of databases, caches… and use the nns for decentralized governance. Then slowly other things can be introduced.
The problem is we are trying to be a computer and a cloud at the same time.
