ted (not lasso) avatar
crypto underestimates the cognitive overload and monetization fatigue that comes with turning everything into a coin or a market the more financial decisions a user must actively make -> the higher the cognitive burden -> the lower the engagement, satisfaction, and trust this is well researched across digital apps
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rish avatar
rish
7mo
At this point in time, I agree. However, I also think that people overlook markets once they get used to it. E.g. if you are ordering something on Amazon, you don't think about how the added GMV might impact their stock price. When you sign up for Netflix, you don't think about added subscription revenue the company is making, etc. Those markets exist and have been abstracted away. There's a new thing in crypto where the markets are 24/7 and revenues are onchain instead of a quarterly earnings report so this will take more time to abstract away but I think over time, people will similarly forget that a market exists and do what they have always done. This is not to say that a specific experiment like coining things will play out, very well might not, but just the fact that markets exist doesn't always mean that there is continuous cognitive overhead. A lot of that is novelty effect.
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ted (not lasso) avatar
Uber, Doordash, etc. are all markets I would argue that consumer adoption is largely because a) it solves an actual need, b) consumer-friendly UX
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rish avatar
100% def need to solve real problems first, just adding markets doesn't do anything
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dutch avatar
Problem: I don't like advertisers Solution: advertiserless social media Problem: node operators are expected to foot the bill. Solution: actually decentralize it. 2500 warps a year for a channel. Nope, never gunna work.
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ted (not lasso) avatar
???
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eichen avatar
this is something completely different tho things like coining impact your finances directly
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rish avatar
What’s the loss if you just ignore it? IG posts don’t make you any money
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eichen avatar
the whole issue is that it‘s very hard to ignore it if there is suddenly a price attached to it it changes dynamics completely
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rish avatar
again, not speaking to coins specifically but the existence of new markets is novelty effect. ignoring is hard today but once established and expected, they will be ignored.
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