Dan Romero on Warpcast

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Dan Romero pfp

The fundamental issue with consumer crypto today is lack of consumers. Consumers need interesting or entertaining content to stick around. Sign ups are irrelevant if you can’t retain them. Everything else is a marginal improvement at best.

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tldr (tim reilly) pfp

tldr (tim reilly)

"Build something people want" 🌍 🔫 👨‍🚀 🔫 👨‍🚀 CC FC PG

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Maretus pfp

Farcaster is probably the best consumer related crypto app I’ve ever used. What other crypto apps are this sticky with committed users? Are there any others with people spending 40+ hours a week on? I know that’s not the point you’re getting at, but I thought it was worth saying anyway. Content quality here is improving imo. Maybe not as quickly as people would like, but it’s definitely happening.

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links 🏴 pfp

Honestly I even think the phrasing “consumer crypto” is limiting. The tech unlocks possible value alignment, it is not an end in itself. I have been workshopping how to describe Farcaster to friends, and so far “community-owned social network” hits much harder than “sufficiently decentralized social network”.

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Erik pfp

personally love the content on my feed here bc it's incredibly diverse, much more so than any other social - i come here to learn, laugh, see incredible art, talk w ppl, try things on the cutting edge onchain, and much more also enjoy the conversations i have here more than on any other social - culture of optimism and friendliness, where ppl also tend to share more from everyday life - less broadcasting, more convo on a long enough timeframe... ethos, incentives, and features (compounded by developer legos) all will play major roles too, a high percentage of the ppl sticking around today understand these 3 pieces already

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Garrett pfp

we need to serve existing consumer needs/wants rather than trying to catalyze completely new and novel behaviors yes we need more consumers but we also aren’t serving them enough good products

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Shiiiison /StumpClub

@shiiiiison.eth

Best join the /stumpclub lots of video and other content headed here.

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Ben - [C/x] pfp

Whats crypto/blockchain’s unique value proposition for mainstream users? That's likely the best lever for retention.

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nick.base.eth pfp

@nickprince.eth

IMO the two fundamental problems have been 1) lack of infra to build a consumer UX 2) lack of apps people want to use 1 made building onchain a non starter for the builders who could solve 2 job isn’t finished but 1 is now solved *enough* such that 2 is the standout issue consumers will appear out of nowhere once 2 is solved. NFT mania and even things like Zed Run proved that word sufficiently gets out when we create things that are sufficiently interesting

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Tushar Soni pfp

@tusharsoni.eth

Is lack of consumers a symptom for lack of utility? Defi has no lack of consumers because there's a strong utility - chance to make money.

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pastel ← leo ꓽꓽ) pfp

pastel ← leo ꓽꓽ)

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Ashish pfp

We can also explore "More users coming, more content coming".

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Liang @ degencast.wtf 🎩 pfp

Liang @ degencast.wtf 🎩

Re: "Consumers need interesting or entertaining content to stick around" If we could curate all the good stuff from crypto twitter without the noice, I would use it 5x more.

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Liang @ degencast.wtf 🎩 pfp

Liang @ degencast.wtf 🎩

It's really hard to attract non-speculating consumers from crypto native users. It is web2 user what we need to go after?

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EulerLagrange.eth pfp

EulerLagrange.eth

@eulerlagrange.eth

Or you can just solve a problem for them

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↑langchain 🎩 pfp

↑langchain 🎩

The technology is missing its “Shopify” moment. No one cares about your Shopify store but they sure enjoy being able to immediately order things from any merchant. Crypto consumer doesn’t have an obvious value prop like that. Probably ends up being some abstraction of yield (HYSA, but better or Affirm with onchain arbitrage) or rehypothecation (Alchemix for normies).

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WebOfTrust pfp

Onboarding still seems to be a bigger challenge. selling the self custodial side of Farcaster to folks outside of web3. quality content leading to migration of existing fan following is another factor like you have said.

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Venkatesh Rao ☀️ pfp

Venkatesh Rao ☀️

“Consumer” seems like a bad frame? More like prosumers? True industrial style consumers will never pay in marginal inconvenience for what-if benefits like censorship resistance, and crypto will always be more inconvenient than non-crypto equivalents. But people who produce as well as consume tolerate and even welcome inconvenience. That’s why devtools have worse UXes. They also value things like CR more because more is riding on not being censored etc. People with more to lose spend more on insurance.

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dusan.framedl.eth pfp

dusan.framedl.eth

the path forward is imo similar to how linux won - it needs to get out of our faces.

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Jay Brower (jaymothy.eth) pfp

Jay Brower (jaymothy.eth)

there are a lack of consumers because there is literally nothing to consume if someone solved an actual problem a real human had maybe there would be consumers until then we push hackathon project after project, fund BD/DevRel and scratch our heads why the masses haven't onboarded to Base Paint we need a real look in the mirror

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