Farcaster

chief philosophy officer. creating and defining the names that frame the game

community strategy at @offchainlabs,  contributing to /arbitrum

I was also bearish at first but a conversation with @marmo.eth (who has been coining a lot) made me realize that I was too focused on edge cases to see why it’s interesting.

A key realization for me was that most coins won’t be valuable - but that’s not the point

The point is that when something eventually goes viral there is a **monetizable** source of truth

Right now it’s only traders valuing content coins but when the actual act of trading moves to the background and becomes automated through something like @noiceapp content will start to be valued more fairly, which has some nice downstream effects like incentives for curation

your content has value because it was valuable to someone

theory is that, those who find it valuable should direct some of that value back to you 

so let’s analyze this, who is that someone who is finding your content valuable 

1) the platform
2) other users 
3) yourself 

1) the platform: sure. the platform is making money from advertisers or other users because of your content. makes sense that they compensate you. 

2) other users: sure, other users find your content valuable and benefit in some form. say they learn or get entertained. they can tip you. 

yes, they can collect - but that is not the common case. users don’t want to collect something that goes to zero. they can speculate in the short term - but that is not the same as them paying you for the value you are providing them. those who speculate would prefer not to pay you at all and keep all their money. 

3) yourself: you find value in posting your own content out there because it helps grow your audience, makes you visible. by definition you are already getting value out of the content you are putting out there. 

I sometimes wonder, coining is a solution looking for a problem. 

or perhaps is a solution built for a different use case and is masquerading as driving value to your content.

i don’t know if I agree with these takes 

can you coin pill me?

i dont think "collecting" is the point either tbh

i think in its final form it can be used to allow for faster, lower barrier to entry for monetization for creators

personally i think having an existing barrier of entry (X, Youtube, TikTok, etc) while it blocks a ton of small creators from making money - most likely it'll remain the most consistent means of income for full time creators

cointent feels like itd be more beneficial for folks who post 1 hit wonders on the timeline lol - cuz theyd get paid for it instantly

i don’t know if I agree with these takes 

can you coin pill me?

https://farcaster.xyz/czar/0xa68a0a85

agree

and 1000000% to that last point esp irt to how @noiceapp does it

people only care to actually tip other people when they they're live (get a reaction/see their fav content creator engage with them bc of it), but not most people will not tip for the hell of it lol

excited to see how cointent evolves