The crypto ecosystem does have a killer app. Just not one people are eager to talk about. The vast majority who know about it are making money off it. It is a s

The crypto ecosystem does have a killer app. Just not one people are eager to talk about. The vast majority who know about it are making money off it. It is a subsidized casino. Casinos are wildly popular even though they take 5% of the betting flow. How popular would a casino that on average pays out 5% be? Where is the 5% coming from? Three sources: money launderers, scammers (tether etc), and longer term speculators, in order of size. Money laundering traditionally takes something like a 30% haircut. Taking only a 5% haircut in crypto is a massive improvement and thus we should expect to see a substantial fraction of all the world's money laundering to move on chain. The other two are self explanatory.