jesse.base.eth pfp
jesse.base.eth
@jessepollak
I strongly disagree with Vitalik that pump is bad. pump is a nascent form of content moving onchain — thereby letting it be valued and creating real value that can flow to creators and curators who can identify content value early. there's absolutely things *around* pump (and other asset classes + venues) that are bad (e.g. people manipulating markets), but I think it's actively harmful to denigrate pump itself. onchain creativity is good — and pump has been pioneering. thank you to @alon and team for their leadership 🫡
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
what valuable work do u think the ppl who make these tokens are contributing? like what is the actual "content"? the name/ticker/image?
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jesse.base.eth pfp
jesse.base.eth
@jessepollak
what's the actual content of a social media post? name/description/image :)
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
i also don't think most social media posts are very worthwhile expressions of creativity or should be tokenized
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jesse.base.eth pfp
jesse.base.eth
@jessepollak
you need billions of social media posts to get millions of good ones. most get 0 engagement. that's good and healthy. same thing for tokens.
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
https://warpcast.com/itsbasil/0x82be667b i think these are the sort of arguments i'd like to see steelmanned more otherwise i find basil's takedown pretty convincing
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
see also: https://warpcast.com/itsbasil/0x864a90b6
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
and https://warpcast.com/itsbasil/0x8c94cfce
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jesse.base.eth pfp
jesse.base.eth
@jessepollak
i disagree with the underlying premise that tokenizing more things is bad or that we need to selectively tokenize to preserve attention. let the market handle it.
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
I think tokenizing more things *unselectively* is bad same reason why most protocols don't issue a token day 1
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
You get one shot if at that to rally attention in the market You cannot "relaunch" the day 1 experience
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jesse.base.eth pfp
jesse.base.eth
@jessepollak
i agree that this is true for certain things (e.g. apps, protocols) i don't think this is true for content. every new piece of content is your one shot. coin it.
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
What is fundamentally different? Why does content get its own category? Is a protocol not just a name/image/ticker?
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
(i mean obviously not but then you have to start talking about ephemerality)
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
And if u believe most of these coins will go to zero, it sorta begs the q of Why issue them at all? Who are these moonshots for? (Ostensibly people with lower costs of living somewhere else in the world?) How true does that feel tho
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jesse.base.eth pfp
jesse.base.eth
@jessepollak
- a protocol is definitely more than a piece of content - you issue all the coins, even if most go to zero, because it gives the 1% that are valuable the space to appear. this is just like most social posts getting zero engagement - you still need people to post, so you can get the bangers! - they are for everyone, everywhere i need to get back to work, but learn more over the next while :)
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will pfp
will
@w
maybe lets zoom in on that 1% -- what are some really good examples? content i can look at and be like "hell yes so happy this thing is tokenized it makes up for all the rest"?
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0xmons ✝️ pfp
0xmons ✝️
@xmon.eth
(not expecting response bls feel free to ignore, and thank you for engaging as much as you have) - it cannot be for everyone, because not everyone (and probably many ppl on this app currently due to initial adopter social graphs) care about $0.1->$1 - and again, is it worth it? I don't think it's worth the namespace pollution, attention fracturing etc - content exceptionalism is an extraordinary position i feel, in the extreme What would happen if a protocol just decided to reissue its network token each time it released a new feature? Perhaps holders would be disgruntled, even the ones who want to support the project or even its users This seems analogous to the creator/content pipeline, no?
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