David Phelps on Farcaster

Luciano pfp

you may think you are in crypto for financial incentive but that’s not actually why you’re here

10 replies

2 recasts

11 reactions

David pfp

Queue post by @davidphelps from year or two ago about social incentives being far more alluring than financial

1 reply

0 recast

1 reaction

David pfp

Found it: https://x.com/divine_economy/status/1794027018411008138

1 reply

0 recast

2 reactions

Luciano pfp

good post but also misses the point that crypto isn’t about either of these things it’s about autonomy

1 reply

0 recast

1 reaction

David pfp

I think it's about all these things — reputation growth + capital growth definitely bring autonomy. It's all different sides of the same coin in my book

1 reply

0 recast

1 reaction

Luciano pfp

I agree we were taught to believe economic and social capital beget autonomy but is only true to a certain extent and only true because of the system we were born into Change the system and these things matter a lot less What many in corporate crypto are attempting is to change the rules to benefit themselves but not the game itself

1 reply

0 recast

0 reaction

David pfp

Hmm... I think economic and social capital will always, and more and more, beget autonomy (value of money when value of labor decreases via AI, etc.). Can you say more about what the system would look like where these things matter less? I think reputation will never go anywhere as trust = backbone of humanity Yeah, that's what corporate does...

1 reply

0 recast

1 reaction

Luciano pfp

reputation is an ouput not an input value creation is all that matters no matter how it is perceived by others the system we use to decide the “economic value” of said value creation shouldn’t determine one’s autonomy we are entering into a new era where micro economies will thrive and be less tied to macro variables but will ultimately take more time than we could speculate

1 reply

0 recast

1 reaction

David pfp

Yeah that's how I understand reputation as well. Gotcha, so "micro" systems devised by micro economies is your vision?

2 replies

0 recast

1 reaction

David Phelps pfp

i think you might have been looking for this actually! (tyyy for thinking of me) https://davidphelps.substack.com/p/the-social-app-thesis

1 reply

0 recast

2 reactions

David pfp

0 reply

0 recast

1 reaction