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.
20 replies
18 recasts
100 reactions
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?
1 reply
0 recast
1 reaction
Dan Romero
@dwr.eth
I suspect most of these assets are thin depth of book mostly traded by day traders with leverage and market makers. Few if any large buys for long term relative to BTC, ETH, SOL. There’s no path for usage and unlikely to attract the next order of magnitude of memetic capital. That said, internet is a big place. So a bet here is just the attention can still scale (likely because BTC is moving to a new ATH).
0 reply
0 recast
4 reactions