Dan Romero on Warpcast

Wilson Cusack pfp

Am I blind or is everything EXCEPT the price listed here?

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Dan Romero pfp

Why do you care about price if you’re learning about the asset?

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Wilson Cusack pfp

Haha if I am learning about an asset the price is the #1 thing I care about?

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Dan Romero pfp

if you don't know the market cap, it's irrelevant? XRP, Solana and Dogecoin prices are not comparable

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rocketman pfp

It’s certainly at least the second most important?

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Dan Romero pfp

If you don't own the asset, it's irrelevant.

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Wilson Cusack pfp

strongly disagree lol

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Dan Romero pfp

Make a first principles argument why price matters if you don't own the asset.

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Wilson Cusack pfp

As a user, I want to know the value of one unit of the asset

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Dan Romero pfp

Two assets $0.00001 with 1 billion tokens $0.1 with 1 trillion tokens price is meaningless for average user since you won't be able to do the mental math

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D-wayñe 🎩🕴 pfp

D-wayñe 🎩🕴

Price does matter because psychology drives markets. While market cap is the real math, users don’t buy market cap, they buy tokens. A $0.01 token feels cheap and abundant, making it easier for retail to ape in (“I can afford 10,000!”). A $100 token feels expensive even if the market cap is smaller. Also, price influences unit bias. People naturally prefer owning “whole” tokens over fractions. That bias shapes demand, especially among casual users. So yes, price isn’t the full story but to say it’s “meaningless” misses how perception and behavior are often more powerful than logic.

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Dan Romero pfp

> Price does matter because psychology drives markets. “In the short run, the market is a voting machine but in the long run, it is a weighing machine.”

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D-wayñe 🎩🕴 pfp

D-wayñe 🎩🕴

Markets aren’t patient they’re hype-driven elimination rounds.

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Jacek.degen.eth 🎩 pfp

Jacek.degen.eth 🎩

Yes and no. If price always reflects some blend of current value and perceived future value, then markets can stay as “voting machines” indefinitely—as long as you can keep selling the story. That’s how assets like Dogecoin or even Bitcoin hold value: not from fundamentals, but from collective belief in potential. Buffett avoids them because by the “weighing” method—where intrinsic value eventually matters—they’d go to zero. But if the market never stops voting, maybe the weighing machine never gets a turn.

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