Here's an interesting thought experiment: imagine you own an asset that consistently generates $1 worth of value every single day—whether that's electricity, computing power, or any commodity with strong market demand. And crucially, this asset never wears out, never loses efficiency, never depreciates.

What's the real value of such an asset?

This isn't just abstract theorizing. It cuts straight to how we should think about yield-bearing crypto assets and long-term holdings. If an asset produces reliable daily returns indefinitely, traditional valuation models suggest it should be worth somewhere around the perpetual value of that income stream—typically calculated using a discount rate that reflects opportunity cost.

But here's where it gets interesting: market psychology often prices things very differently from theory. Are people valuing based on cash flow fundamentals, or are they pricing based on hype, adoption curves, or competing opportunities? Understanding this gap might just reveal where the real opportunities are.