Dan Romero on Farcaster

Dan Romero pfp

Two use cases in crypto with product-market fit: speculation and stablecoins. Today, if you don't play in the speculation stack, you miss out of the $$$ spent by the relatively small population of hardcore crypto users (and occasionally a sudden surge of retail interest when there's a big meme event). This space is attractive for startups since a relatively small number of users by consumer standards can generate a lot of revenue. Stablecoins grew out of the speculation stack over the last decade, but now with the GENIUS Act, you're going to see a flood of non-crypto companies with existing distribution start to play around with crypto. This space is much harder for startups since stablecoins require massive scale to be a good business (and will become worse if interest rates fall). The challenge today is that if you're somewhere in-between speculation and stablecoins, the thing you need to make your business successful is users who spend some amount of crypto. And that market is not that big yet. So the imperative is to grow size of the market. The best way to do that is build fun and entertaining apps and experiences. This is what we're focused on with the Farcaster app and why I'm constantly telling people other stuff isn't a priority relative to user growth.

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androidsixteen pfp

@androidsixteen.eth

Had a similar thought earlier this year, but had pegged FC as closer to the stablecoin end But it seems like since then, the focus has shifted to speculation Is this because it is easier to get to the middle after anchoring against the left side of the continuum? https://farcaster.xyz/androidsixteen.eth/0x67aae1ad

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Samuel ツ pfp

@samuellhuber.eth

"The best way to do that is build fun and entertaining apps and experiences." You can just build a fun mini app! huge thanks to @builders-garden who enable me to have fun every day seeing my streak go up and @statuette fall behind on the leaderboard

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katie pfp

related piece here you might find interesting! https://substack.com/home/post/p-166662346

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Joe Petrich 🟪 pfp

Joe Petrich 🟪

Founders should stop trying to build crypto apps and just build stuff people want, using crypto if it makes the product better. FC mini apps are reasonable for this, I think, because they give you distribution to early adopters and the financial primitives they want. But if your product relies on those financial primitives to work it's unlikely to cross the chasm

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Coop pfp

@coopahtroopa.eth

Great way of framing it Grow the pie.

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rickacrane 🎩☮️ pfp

rickacrane 🎩☮️

Let's g(r)o(w)!

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na pfp

dunno how many and when people have the leisure for fun and entertaining apps and experiences on a budding social network

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Garrett pfp

Growth solves a lot

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Andrew pfp

This is indeed true. But unfortunately, i have not seen large-scale successful cases of crypto payments integration in the gaming industry. As for price stability in the market, I think we need fresh ideas, perhaps auto-burning technology based on data from oracles... or something else

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ionspired pfp

unfortunately, the only way competitively affordable as history stresses out I think is: 1. make greed satisfaction more accessible and onboard everyone asap before web2 has adopted 2. leading the audience, then approach to change the mindsets

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@hammallama.eth

There is a meme that encapsulates all of this It's called unstable $stableai

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velvetblue pfp

@velvetblue.eth

I know my Excalidraw shapes.

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noice pfp

https://app.noice.so/?castHash=0x60483163746662da3d3ee0a400a3ca21c11df79c

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