wijuwiju.eth on Farcaster

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wijuwiju.eth pfp

this but the fc protocol in general, stopped investing time when it was de-prioritized vs the app

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Dan Romero pfp

Ah yes, an app with 10x the user base is integrating Farcaster but the protocol has been “de-prioritized.”

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wijuwiju.eth pfp

Exactly my point, took Coinbase for you to recognise its importance.

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Dan Romero pfp

and why did Coinbase decide to integrate? Because we had built a permissionless open protocol and ran it for years. One which you benefit from as well.

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wijuwiju.eth pfp

If I were to guess, a combination of good tech and consistency as you have pointed out, plus a personal relationship from previous shared occupation helped foster trust and shaped the decision. But here you can wonder why many other players in space haven't done so, aside from experimenting with channels and mini-apps for distribution. Excluding few smaller early believers like us who bought into the idea and contributed what we could, one from which you benefited from as well, as if I remember we were among the first to recognise and build on top. Albeit without ever fully locking ourselves to see how things develop, as we have been building on top of many protocols and many have tendencies to be platforms and compete vs something agnostic like ENS. I'm still observing/undecided how things will move forward, but already see signs of how Coinbase impacted some of the priorities to be shifted towards the protocol, but then one can also only question why they went with their own identity?

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Dan Romero pfp

> If I were to guess, a combination of good tech and consistency as you have pointed out, plus a personal relationship from previous shared occupation helped foster trust and shaped the decision. If we had good tech and no users and developers, they wouldn't have integrated. > But here you can wonder why many other players in space haven't done so, aside from experimenting with channels and mini-apps for distribution. We're working on this. I think you're underestimating the difficulty of convincing apps with existing user bases to adopt something. > but then one can also only question why they went with their own identity? It's just ENS? We support ENS.

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wijuwiju.eth pfp

"I think you're underestimating the difficulty of convincing apps with existing user bases to adopt something." I've shared my opinion on this as an app with a modest userbase, the same thing that @fredwilson.eth was talking about during /farcon-nyc how protocols have this thing called tokens that help align and coordinate to solve core issue of previous generation of apps. Why would I contribute anything towards something I own nothing of. Hence my original cast in this discussion.

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Dan Romero pfp

What would give it value?

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wijuwiju.eth pfp

market. cc @pmarca who taught me about markets here ;)

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Dan Romero pfp

This is a non-answer.

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wijuwiju.eth pfp

So is your question. Asking what is the source of value for the network you are building is either insulting or just trolling.

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Dan Romero pfp

Something can be valuable and not have that value accrue to a token.

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wijuwiju.eth pfp

So what brings value in your opinion? From what I understood we agree that for a financial network it is nodes that participate in it, and as you have pointed out Coinbase brings these nodes. What im saying is to bring more such hubs to the network you need to create and foster an environment where nodes feel protected (all stakeholders, not just shareholders) and aside from relying on personal relationship/trust. This in my opinion is perfectly solved by a shared ownership. More nodes, more value. How to bring more nodes? Incentivise them not via distribution as there is little compared to bigger players like Telegram, X, Meta, Google, but by sharing/distributing ownership or a hybrid.

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Dan Romero pfp

Distribution is valuable by itself. No token required. But saying "launch a token so I'm aligned" only to have the token sell off just ends up in disappointed holders. If there's no clear, meaningful long term value accrual to the token, then you're basically hoping for it to be become a pure memecoin like XRP, DOGE, Cardano. Can that happen? Yes. Is it likely? No.

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wijuwiju.eth pfp

Will be back in half a year

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