Mike | Abundance 🌟

@abundance

363 Following

1730 Followers

Mike | Abundance 🌟 pfp

Mike | Abundance 🌟

if you have a great idea that could double the profits of the company you work for, what makes more sense: 1. you need to put a ton of effort into getting attention for your idea, while the company only pays attention to those who are loudest and most effective at getting attention 2. the company proactively looks for great ideas and rewards those who help surface the best ideas what makes sense in companies also makes sense in social media. Web2 doesn't have the ability to choose option 2. But Farcaster does. That's FC's competitive advantage.. that we're squandering

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Mike | Abundance 🌟

if you're having an issue with the Impact Console try using the +1 or +5 $impact cast actions to stake instead. you may still see an error message but it should work https://farcaster.xyz/abundance/0x3adf840d

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Mike | Abundance 🌟

what I find most frustrating about Farcaster? we have an "airplane" protocol that keeps trying to be a better street car (so it can better compete w other "street car" social media platforms) why not focus on building the plane?

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Mike | Abundance 🌟

I wouldn't be at all surprised if, thanks to AI, we're gonna find out in the next few years that over 50% of the things we thought we knew — esp. in health, nutrition, exercise, etc. — are simply not true

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Mike | Abundance 🌟

I strongly believe in the 10X rule for products. atm FC is probably 2.3x better than X (and, if we're being honest, it's been trending down in signal-to-noise for a year) so potential is there but looks like Merkle team isn't focused on capitalizing on FC's main competitive advantage

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Mike | Abundance 🌟

Just donated to Farcaster's RetroPGF round! 🌟 Backing the builders who are creating impact and building Farcaster's future. Let's grow together! ✨

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Mike | Abundance 🌟

is that only me or X is now shadowbanning posts? 🤔 If you have the link you can see the post: https://x.com/Abundance_DAO/status/1922708459482472765 But if you go to my profile it's not there: https://x.com/Abundance_DAO For those who forgot Farcaster first value proposition..

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Mike | Abundance 🌟

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Mike | Abundance 🌟

can anyone suggest why collapsed miniapps in QCs are a bad idea? cc: @horsefacts.eth @gt @linda etc

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Mike | Abundance 🌟

Every product and service that generates a ROI in our economy has a corresponding Coordination Structure that enables that ROI. This is what's missing for public goods, and why we're not producing public goods at scale. Programmable money fixes this

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Mike | Abundance 🌟

not a trick question (or is it?): if markets produce optimal resource allocation, why does no major company uses market forces for its internal operations? why do they all rely on managers and collaborative work?

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Mike | Abundance 🌟

Every year our economy is losing trillions in value bc an entire class of goods - public goods - cannot capture value. We can now fix that with thanks to the blockchain. This is crypto's real PMF: https://paragraph.com/@abundance/coordination-structures

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Mike | Abundance 🌟

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Mike | Abundance 🌟

this is why incentives matter!

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Mike | Abundance 🌟

yea but can you earn yield on it?

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Mike | Abundance 🌟

Happy Warpcast Rewards day! now that we got our rewards for engagement, let's put those rewards toward impact! best way to incentivize network growth 👇

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Mike | Abundance 🌟

a system is only as strong as its weakest link, and a network is only as decentralized as its most centralized component that's why the model of building centralized infra on top of decentralized protocols is bound to fail the whole value proposition of blockchains is that they're decentralized & censorship resistant - that's the cypherpunk ethos centralized systems will always have a tendency to lock users in that's bc their business model relies on value extraction, not composability this is no way to build "the future of finance" or "the future of the internet" so either we build fully decentralized infra stacks, or we admit that the cypherpunk ethos is bust

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Mike | Abundance 🌟

the key to mainstreaming crypto is building decentralized infra the key to building decentralized infra is funding public goods at scale the key to funding public goods at scale is value capture if we want to mainstream crypto we need public goods to capture value, no way around that

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Mike | Abundance 🌟

want your $usdc tips to benefit thousands of casters and help grow Farcaster? Impact's @impactfund is now accepting your tips thru crowdfund. Last Season we distributed over 340K $degen to 3300+ creators based on their impact on FC (2.5M+ $degen distributed in total to date) Let's keep growing our impact!

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Mike | Abundance 🌟

we need to dispel a major myth about value capture in public goods (it's been holding crypto back for too long) my latest post: https://paragraph.com/@abundance/how-public-goods-can-capture-value

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