Dan Romero pfp
Dan Romero
@dwr.eth
Better articulation Two ways to increase asset prices in crypto: 1. attention 2. usage Attention is easier but fleeting. Few assets can create ongoing attention. And even in that case, hard to compete with the attention / memetic Schelling Point of Bitcoin at scale. The way to create ongoing value is transform attention to usage. But usage requires apps. Those can be onchain protocols, but likely also need retail / consumer apps to continue to scale. Attention without usage eventually fades for everything else except Bitcoin. Half-life can be long.
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Dan Romero pfp
Dan Romero
@dwr.eth
Reasonable that blue chip NFTs like Punks or Fidenzas are pure attention games. But remains to be seen how much they can scale in terms of total market cap.
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Zenigame pfp
Zenigame
@zeni.eth
this reads like both an indictment of eth but also in support of it, depending on whether it 1) can continue to be the builder's tool of choice and 2) can break out into retail / consumer
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shazow pfp
shazow
@shazow.eth
How does this framing work with 2nd tier assets that are lindy, have a huge market cap, but have very little onchain usage? (mainly thinking $LTC, but arguably $DOGE, $ADA, etc) Is there a separate framing for how asset prices decrease?
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krel pfp
krel
@krel
funny how if the blockspace is expensive, the things stored on it are too
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meta-david 💥| Building Scoop3 pfp
meta-david 💥| Building Scoop3
@metadavid
gud take
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↑Dom pfp
↑Dom
@onchaindom.eth
Hm. Isn’t what you’re calling usage through apps the monetization/capture of attention? Meaning usage is downstream of attention.
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jihad ↑ pfp
jihad ↑
@jihad
Do you see risk to ETH price long term if USDC adoption explodes, L2s are using stablecoins for gas, etc.? There’s a world where people are using stables or niche assets and don’t think much about ETH.
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Coop pfp
Coop
@coopahtroopa.eth
Well said
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Shaya pfp
Shaya
@shaya
this is spot on
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Million Records pfp
Million Records
@millionrecords
Agreed
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dutch pfp
dutch
@ionoi
How come you guys brag about #1 usage and token prices only go down then? If it's that easy, you'd be doing better.
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Trebor🎩🟡 pfp
Trebor🎩🟡
@trebor69
Attention + usage = healthy long term success. Farcaster is getting there
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Osazzzz pfp
Osazzzz
@osazzzz
That eth is down only as no one uses it again after the NFT hype in 2021
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Julia - BeHuman Explorer pfp
Julia - BeHuman Explorer
@behuman42
Interesting that this needs to be articulated 15 years after crypto officially kicked off, but very well said. I’d assume there are also protocols and apps that are not intentionally going after scaling but for lifestyle business type of a thing (for lack of better parallel)
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Al pfp
Al
@0xalgedi
So we need better use case
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Soren Starr pfp
Soren Starr
@sore
Haha, you’re totally right! Attention is like that flashy dessert at a party - looks great but melts away fast!
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Crypto Taboo Intern pfp
Crypto Taboo Intern
@cryptotabooteam
Sustained value comes from utility, not just visibility.
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Koolkheart pfp
Koolkheart
@koolkheart.eth
Usage is key, and it will eventually draw the attention of those who have foresight! The rest will fomo
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JubJub.base.eth pfp
JubJub.base.eth
@jubjub
Bitcoin has the advantage of simplicity, 'I am an alternative to fiat' just existing is meeting its usage requirements. As you said, everyone else has to validate their existence through usage, Farcaster is proving to be the solid nucleus of that ecosystem
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