Farcaster

Farcaster new fid register is now <500 per day.

What are we doing wrong?

ppl came because there was money

now there’s no money

so they left

they need a reason to come and cast

Here are reasons heavy users go on social media IMO:

1) to get rich (dream)
2) to get famous (dream)
3) to waste time doom scrolling (habit)

Bitcoin, /appreciation channel host, /stolenfromtwitte channel host

FID: 2211

About the money.

‘now there’s no money’?
people are earning with moxie.

What money there is on x?

moxie is dying everyday (for now)

ppl sell their airdrops till the price hits zero

for crypto we need huge run ups or it goes to zero

comparing to another platform doesn’t work.  It’s not an us or them it’s a why not us

on Twitter ppl have dreams of becoming famous and then getting money by being an influencer (the pay from x is a great thing for them. It will take time to materialize in motivating content creation)

This isn’t actually what’s happening to moxie fwiw.

Look at the list of top claimers. None of them are selling.

Moxie doesn’t have an issue with sell side pressure. It has an issue buy side. Sells are minuscule. Less than a couple grand a day.

Founder of /success & /insider-trading. Search Marketing Director at Kraken Kratom.

i guess, on the one hand it is good to know that there isn't as much selling as I suspected, on the other hand it just reveals the actual problem ...no buying)

so if there are less than a few thousand people buying then it'll slide to zero

or look at it another way: if it's true that there is no sell side pressure... and the price is going down... what value does moxie have in the market?

it has zero value

the only current usage for it is buying Moxie Fan Tokens... but if ppl are only using the free airdrops, it's only a matter of time until those ppl sell also

remember: in crypto, all people eventually sell into the better currency (USD stable, ETH, or BTC)

^^to be clear, i do think there is hope for moxie and am a supporter (have never sold and don't plan to for the time being)

but the reality is that it goes down because of the market sentiment

those are really great stats and I expect long term the project to do well and I respect everything the team has done so far, truly I do

but, we must admit, those stats are on the back of free moxie given to people, like me

I have over 2M moxie locked up… but that’s drastically different than me spending $10k on something 

we still don’t have a reason for an outsider (non FC airdrop recipient) to buy moxie and use it

this is always the problem in crypto.  

Why should I buy?  Bitcoin has many reasons to buy… eth has them as well… every other coin is typically a copy of eth but with a promise to be cheaper and faster, cool

What can an outsider expect to gain by owning moxie and not another coin

It’s great to see orgs buy the token and hope they continue. 

I guess my larger point, to bring it back to my second post in this thread, people won’t come to Farcaster to earn moxie until the price goes up, or there is something they can directly buy with Moxie, something they want
 
🧵 1/2

Moxie has been around for 46 days and is exceeding all early expectations for protocol usage. 

400m MOXIE locked in the protocol for fan tokens. 50% growth in last 2 weeks. 

1.8B worth of moxie fan token transactions. That’s B for Billion. 

Circulating supply is down by 300m since launch. 

>6m fan tokens held

Introducing long term locking/staking in a few days. 

Hundreds of frames and dozens of apps have integrated moxie in meaningful ways 

4 partners have already purchased moxie in the open market to power marketing programs for user acquisition and engagement — with many more lined up. Wildcard bought moxie live in our community calls this past week for their campaigns. Matcha, Rainbow, Charmverse all buying moxie. 

On the consumer side people will buy moxie to get access to special features and benefits. It’s coming 

We’re building something special and the market will take notice very soon.

Naive outlook.  0.1% of crypto investors know moxie exists.  All it takes is a few big $ investors to find it.  No one dislikes it.  It’s fantastic.