The Chopping Block: Crypto’s Best and Worst in 2023 - Ep. 583
Dec 15, 2023
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Crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner discuss the best and worst of 2023 in crypto, including winners like Solana and losers like Circle. They also talk about notable pivots, the boom in crypto lending, and predictions for 2024.
The biggest flop of the year was the Board Ape Yacht Club's eight-point proposals that failed to deliver on their promises and lacked intellectual substance.
The worst pivot of the year was Paradigm's pivot to AI.
The best pivot of the year was Pudgy Penguins successfully entering the plush toy market.
The best meme of the year was Pinky Doll, an NPC fetish meme that went viral on TikTok.
Deep dives
Biggest flop of the year
The biggest flop of the year was the Board Ape Yacht Club's eight-point proposals that failed to deliver on their promises and lacked intellectual substance.
Worst pivot of the year
The worst pivot of the year was Paradigm's pivot to AI.
Best pivot of the year
The best pivot of the year was Pudgy Penguins successfully entering the plush toy market.
Best meme of the year
The best meme of the year was Pinky Doll, an NPC fetish meme that went viral on TikTok.
Best or worst mechanism of the year
The best mechanism of the year was points, as they became a popular and effective incentive system in various crypto projects. The worst mechanism of the year was ordinals, which tried to add extra data to Taproot but ended up lacking security and causing issues.
Prediction: DEX market share will touch 50% of spot trading
The DEX market share relative to centralized exchanges for spot trading will reach 50%. This will be driven by the improving user experience and on-chain onboarding for Solana and layer 2 solutions.
Prediction: A major L2 hack and L1 rollbacks
In 2024, there will be a major hack on a layer 2 solution, leading to a rollback similar to the DAO incident. Additionally, a prominent L1 blockchain will also face a rollback due to significant issues.
Prediction: Stablecoin market cap decline as assets shift to crypto
The total market cap of stablecoins will decline as investors shift their assets back into volatile crypto assets and other low-risk assets. This will be driven by decreasing interest rates and a desire for higher returns.
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, after an incredibly eventful year for crypto, The Chopping Block crew makes its picks for the best and worst of 2023, including its biggest winners and losers, biggest surprises, best memes, best or worst pivots, biggest flops, best comeback stories, favorite podcast guests and predictions for 2024. Hear why some in the gang consider Solana to be the year’s biggest winner, Circle the biggest loser, MicroStrategy the best and worst pivot, Coinbase the best comeback and a renewed boom in crypto lending one of the top predictions for 2024.