brypto

“hey basil, i made $100 on my post!”

> no, not yet you didn’t. you still have to dump the token on the very people who bid up your work in the first place trying to “collect it.”

“what? so they have to lose money in order for me to make any? couldn’t i just charge them $5 each? then they’d know what they’re getting & at what price? how much money can they lose?”

> they will likely lose every single dollar invested if you pull out $100.

“so what am i supposed to do? can i pull out $50?”

> yeah, but it will likely cause anyone paying attention to pull out, causing the token to crash either way. 

“so my collectors are bound to lose money while savvy traders who don’t even care about my work make money?”

> yes. 

“this doesn’t make any sense. my collectors are not dumb… they won’t bid on my next work if they know they’re going to lose money on it. and for what? a token? they don’t want that? they want the art in the post.”

> welcome to crypto.

Welcome to thinking in terms of assets and liquidity and not income and expenses. This is how the wealthy operate and it’s nice for the artists to have the same mental model with money. If everyone speaks the same language then the overall system gets better.

c/acc - 🏴‍☠️🌊 Bring me that Horizon 🍹
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Not when we're talking about micro-assets with minimal liquidity

/new-york 🗽 • /untzuntz 😈 • /tastebuds 🍕 Fan of eating tacos and bringing people together, often at the same time 🌮

Skill issue. Besides most is worthless  whether it’s 1/1 or coins. 

Don’t get me wrong I have the same reservations but I also see the vision for how it can work.

I think there's some miscommunication here. Basil's OG cast was about content coins in which case it doesn't really make sense to think about "increasing valuation" since content (even the best kind) is fleeting. What you're saying totally makes sense for *creator* coins and I think those are a decent model.

I read that and think yeah so the focus can shift to how do I increase my valuation. Vs how do I generate more income. Think long term could be better wealth building mechanism. But maybe I’m just not understanding the mechanism correctly which is also very possible lol

Yeah but with 1/1s the creator earns 90% of the sale price vs. a fraction of 1% of the volume (read: tiny) on coins, half of which is in a token that they can't even dump due to no liquidity