Is crypto dead? Gavin Wood thinks it's time for a fresh start 🔄

Crypto industry failing? Gavin Wood—worth about $450 million from his Ethereum and Polkadot work—doesn't give a straight answer. He kinda reflects on the journey.

"Failed? It seems too early to talk about failure," Wood says. 🤔

The industry has drifted away from its roots. Getting sucked into mainstream systems. Bad choices happened. Selfishness won over crypto punk ideals. But wait. The story continues.

"Calling it 'failed' puts a period at the end. This sentence isn't finished," Wood explains.

This isn't exactly new. "Shitcoins" existed back in 2013. Dogecoin survived. Money just stirs things up. Always has. 💩

For old-timers like Wood, the results don't match the dreams. We developers miss things. We get the development process wrong.

Society needs to want this stuff. Bitcoin proved necessary. TRON too. People see stablecoins as decent alternatives to banks now. USDT on TRON replaced Western Union for many people. Wood finds TRON "pretty stupid" though. 💸

Fresh blood needed. Wood's new project JAM shows this—a "magical internet supercomputer" with tons more power. But there's a problem. If users think old-school, they'll just make faster NFTs. 🧙‍♂️

"Making existing stuff faster isn't real progress," Wood says. The "Betamax problem." JAM needs newcomers not trapped in blockchain thinking. People who see it as a platform for C++ programs on a decentralized supercomputer. 🚀

Veterans leaving? Not entirely bad. Makes room for new ideas. "It's even necessary," Wood believes. 🌱

On being rich—mixed blessing. Opens doors. Creates burdens too. Wood tells about Heim, a Web2 millionaire who left his properties to sail the seas. His wealthy lifestyle was consuming him. 🏝️

Wood's dark side? Anger at injustice. He mentions Rory Stewart's idea that "ought follows can"—don't jump in without confidence you'll help. Like Iraq War mistakes. 🔥

For happiness? Stay curious. Enjoy exploring. "Don't take it too seriously," he suggests.

Crypto needs young minds "not polluted by the past ten years," Wood concludes. The future belongs to fresh perspectives beyond old constraints. 🌕