A Babylon co-founder stood in a room full of Bitcoin maximalists and admitted demand from that exact crowd would hover around zero.
Fisher Yu said it plainly to CryptoSlate, glancing around at the diehard Bitcoiners at one of their biggest annual events. Not defensive, not spun, just honest.
I sat with that admission longer than I expected to. Most founders soften an answer like this instead of naming their own weakest audience out loud.
It connects to something real inside Bitcoin's culture. Maximalism has always centered on holding BTC untouched, resistant to any added layer or dependency, however small.
Babylon's entire product asks holders to accept the opposite of that instinct. Yu did not dodge the risk question either, explaining slashing directly, your Bitcoin stays safe as long as you do not attack the network yourself and do not delegate to a validator who does.
That is a real tradeoff stated in plain language, not buried in documentation. Safety here depends partly on trusting someone else's behavior, not just holding your own key.
What struck me most was the timing of the comment. Cap-2 had already pulled in roughly twenty four thousand BTC, close to two and a half billion dollars, so this was not a founder explaining away weak demand.
It was a founder being specific about which segment of Bitcoin holders was actually buying in, and which one, by his own admission, mostly was not. I do not think that makes the product wrong for existing, I just think it says something honest about who it was actually built for.
@BabylonLabs_io #baby $BABY
Fisher Yu said it plainly to CryptoSlate, glancing around at the diehard Bitcoiners at one of their biggest annual events. Not defensive, not spun, just honest.
I sat with that admission longer than I expected to. Most founders soften an answer like this instead of naming their own weakest audience out loud.
It connects to something real inside Bitcoin's culture. Maximalism has always centered on holding BTC untouched, resistant to any added layer or dependency, however small.
Babylon's entire product asks holders to accept the opposite of that instinct. Yu did not dodge the risk question either, explaining slashing directly, your Bitcoin stays safe as long as you do not attack the network yourself and do not delegate to a validator who does.
That is a real tradeoff stated in plain language, not buried in documentation. Safety here depends partly on trusting someone else's behavior, not just holding your own key.
What struck me most was the timing of the comment. Cap-2 had already pulled in roughly twenty four thousand BTC, close to two and a half billion dollars, so this was not a founder explaining away weak demand.
It was a founder being specific about which segment of Bitcoin holders was actually buying in, and which one, by his own admission, mostly was not. I do not think that makes the product wrong for existing, I just think it says something honest about who it was actually built for.
@BabylonLabs_io #baby $BABY