the first basic step to find out if a protocol is useful and has a chance to be valuable:
you've used it before and you'd use it again
im already seeing some starry eyed people looking at some "lesser" alts the way that bitcoin maxis fantasize about hyper-bitcoinization and are confident that it is a certainty, an eventuality
but i suppose that's how valuations have multiples expansion - narratives
i suppose it varies from person to person, specifically with how your brain is hardwired to handle cognitive biases
but i think its best to operate as a profit maxi, a realist
to buy from disbelievers, pessimists
and to sell to people in it for the tech, optimists
btw, an extremely important follow up would be:
just cos you use it does NOT make it investible
lots of projects have dogshit token design that leaks value to non-holders and have extremely poor value capture
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