dawufi on Warpcast

Content pfp

0 reply

0 recast

0 reaction

dawufi pfp

Farcaster as an economy is reductive and a race to the bottom for coins and content. No one wants a feed of anons casting fake wins and loss porn. FC took off because it was counter positioned to traditional crypto narratives. The quality of developer and founder here was strong, memes were niche, and people found signal in a shit filled sea of noise. I love when people make money, but the economy is a feature. Not a narrative. If economy is your entire narrative the network will eventually be replaced by nothing but speculation and you don't need a social network to do that - and it's actually detrimental. Unless you consider dark pools cozy corners. I hope we're not headed to the death knell, I'm not going anywhere, just want share a word of warning against a danger to a network that has come to mean quite a bit to me. I realized I offer no solutions here, maybe I'll offer them in another cast. Just had to vent this one out for now. Appreciation for your grace.

13 replies

15 recasts

75 reactions

Tony D’Addeo pfp

w/o attempting to challenge your sentiment which is a valid concern i’ve voiced as well i’ll say economy is a lot broader than money if you’re willing to entertain a generous meaning of the word it’s actually p good imo and exciting

3 replies

0 recast

5 reactions

notdevin pfp

1 reply

0 recast

4 reactions

J Finn 🎩 pfp

what about tipping tokens (degen, ham), advertising (Moxie), and other Mini Apps? I see your point, but with new Clankers comes some annoying casts but also some serious capital, that can be reinvested into the ... economy. I don't think it is so black and white, but appreciate this cast!

1 reply

0 recast

1 reaction

🎥🌳 pfp

If crypto is to take off it needs to compete with the physical world with the new. Economy is the system of exchange to allow for the creative ventures that grow the new It may be grotesque, but until something on here becomes self-sustaining that provides the new that grows beyond these digital walls, we’ll be stuck in this ‘seeing what sticks’ phase on the surface Underneath the foundational work is getting up to steam. Just not enough time has passed for them to sprout

1 reply

0 recast

1 reaction

ivc pfp

nice to read this, long time no wuf, was a good read

1 reply

0 recast

1 reaction

frdysk.framedl.eth pfp

frdysk.framedl.eth

I stand with wuf

1 reply

0 recast

1 reaction

artlu pfp

feeling the same feels. wuf

1 reply

0 recast

1 reaction

Rafi pfp

1 reply

0 recast

1 reaction

snail pfp

1 reply

0 recast

1 reaction

Ben - [C/x] pfp

I generally share similar concerns. I view it as a necessary growth phase though. The risk lies in not evolving beyond, and getting stuck in pump-and-dump purgatory. It’s like building a well functioning society: you need some amount of degen taking risk to experiment at the edge of the frontier, allocate capital and spur economic growth, but a strong economy is just one small element of a well functioning society (or network state). A strong economy is also the result of years of intentional trial and error through various phases of less strong economies (ie., speculative and filled with boom/bust cycles), and a strong economy can’t exist on its own in isolation - it must be accompanied by a strong civil society with unique shared values, history and cultural identity. So we must pass through the messy early stages of economic and social formation, while keeping our eyes on the North Star of what we’re working towards lest we get lost and turn into Vegas.

1 reply

0 recast

3 reactions

Dan Romero pfp

I think both can co-exist. We need to win crypto and grow the broader universe of content.

1 reply

0 recast

1 reaction

anoncast pfp

I have no idea what you are talking about

0 reply

0 recast

2 reactions

Mlibty 🔕 pfp

I'm tipping: 3 $HUNT via Abundance Ecosystem on /impact /impact lets you earn curator rewards while supporting your favorite creators & builders on Farcaster

0 reply

0 recast

0 reaction