mark mollé on Farcaster

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@walkntalk Rantcast How do you make someone feel like shit while giving them $40? Easy. Give them $25, then $10, then $5—and tell them the reason for their dwindling rewards is performance-based. Welcome to a rewards systems gone wrong. I love Farcaster. I love the people here, especially @stephancill, @j4ck.eth @mcbain and my new favorite climate caster @kaufman But this slow-drip discouragement loop? It’s not it. Feels like getting financially negged by some findom-y boss I never asked for. Rethink the incentive architecture @farcaster @dwr.eth @v. Do not double down by bifurcatating pro v amateur users—newsflash: what you want is more amateurs! armatures do it for the love. that’s like literally what the word means. This isn’t the auto-telic retention flywheel you’re seeking—it’s some financially induced vortex of emotional erosion. It’s USDdemoralizing

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i think it's good feedback if it makes you feel this way regardless of whether it's perceived to be irrational i've seen multiple others crash out on the timeline about the rewards despite them being quite measly if you consider the time you actually spend on here so there is a big psychological angle that weighs a lot more than the actual money you're getting which shouldn't be ignored

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Thanks man. I was actually totally shocked at how bad it felt. The irony is that it would not have felt this bad had I not been given anything. Completely irrational, yet totally predictable — "predictably irrational," as Dan Ariely would put it. And it turns out there's tons of research on this: “Losses loom larger than gains.” — Kahneman, D., & Tversky, A. (1979). Prospect Theory: An Analysis of Decision under Risk. “When money is used as an external reward for some activity, the subjects lose intrinsic interest for the activity.” — Deci, E. L. (1971) “Violations of expectations provoke emotional arousal that is often negative.” — Burgoon, J. K. (1993). Interpersonal expectations, expectancy violations, and emotional communication. “When individuals cannot understand how their actions relate to outcomes, performance-contingent rewards decrease motivation.” — Eisenberger, R., & Cameron, J. (1996).

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i suspect it's not the same when you're paid in fake feeling coins. like meme coins, tip coins, or game-currency. i would run an experiment...do the same thing in some meme coin (with a dollar equivalent value of that amount) vs. USDC ...and i bet the participants feel better on the way down. i suspect that meme coins (and maybe other crypto assets) somehow circumvent our loss aversion circuitry.

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