Degen

Daily Discussion Thread - /degen - October 6, 2024

Impact

Every coin and token in crypto has a private and a public sphere to it. The private sphere is what you do with your coins once they’re in your bag; you can do basically whatever you wish with them (not legal advice).

The public sphere is what the network does with the coins before they land in users’ wallets. Networks need to maintain the infrastructure that would allow the private sphere to thrive.

In Bitcoin or Ethereum, for example, the public sphere allocates coins for network security. Once the coins land in the wallets of miners or stakes they can do whatever they want with them.

In the Tipping Economy we have a new kind of distributed public sphere; each user gets to decide what to do with their daily allowance. For the Tipping Economy to thrive the network needs to create the incentives (and tools) that would motivate users to tip those things that benefit the network (and disincentivize farming and self-dealing). The better incentives the network creates the more valuable its currency will be.

Wrote a longcast on $degen & other tipping coins - a way to think about how the coin gains value:

Wrote a longcast on $degen & other tipping coins - a way to think about how the coin gains value:
https://warpcast.com/abundance/0xd1a0feed