Except for Bitcoin, all crypto asset prices are downstream of usage.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

doesn't ADA/XRP/etc refute this? high valuations but no usage

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.

Here’s a better articulation

https://warpcast.com/dwr.eth/0x6611bda1