"Abandon All Hope Ye Who Enter Here"

-perhaps these words should appear during the setup of MetaMask or at the fiat onramps into the cryptocurrency ecosystem. As newcomers enter the world of digital currencies, they are often bombarded with mantras like "not your keys, not your coins" and "spend only what you can afford to lose." These are important reminders, but many individuals will ignore them until they learn the hard way or never hear them at all.

In the Hero's Journey, there is a moment where all seems lost, often called the 'Dark Knight of the Soul.' This notion holds true in the realm of cryptocurrencies as well, with cycles of fear, uncertainty, and doubt (FUD) challenging even the most seasoned investors. Compounding this, the market's ever-evolving nature presents a continuous stream of new, enticing opportunities.

Despite these challenges, there has never been a more bullish outlook on the future of blockchain and cryptocurrencies. However, it's crucial to be honest about the current benefits and areas in need of improvement. Public and transparent ledgers, trustless and permissionless smart contracts, interoperability, and tokenization of assets are already tangible and well beyond the proof-of-concept stage. Yet, the value that consumers see in these technologies is not always as clear-cut as marketers may have initially pitched.

While decentralization and anonymity are foundational principles of blockchain technology, it's important to recognize that the market for these features remains niche. The same can be said for self-custody and the "be your own bank" mantra. As the ecosystem evolves, it's clear that not everyone shares an interest in participating in this way.

When it comes to defining ownership, the majority of consumers prioritize the ability to buy, sell, and trade in profitable or entertaining markets. They may not necessarily care about self-custody or verifiable proof of ownership, as long as they can engage in transactions and identification processes. This indicates a potential divergence between the original vision of cryptocurrency and the priorities of its growing user base.

As the cryptocurrency ecosystem continues to grow and evolve, it's important to strike a balance between upholding its core principles and adapting to the practical needs and expectations of its users. By doing so, the future of blockchain and crypto can be shaped into a more inclusive, accessible, and widely adopted system.