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https://warpcast.com/~/channel/coins
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jesse.base.eth 🔵
@jessepollak
try to argue against content coins from first principles. if a video on tiktok has millions of views, it has value. why should a single platform control that value? why shouldn't that value be explicit? why shouldn't the creator benefit from that value? seems good to me.
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tldr (tim reilly)
@tldr
@six @androidsixteen.eth @kia – you smart and fair and skeptical fellows. What's a steelman of the argument that coining content *should* not happen? (Not saying you believe this, just want the strong argument) I understand people who don't *want* it to happen. I understand people who doubt it *will* happen. But I don't get why people believe it *shouldn't* happen. To me it seems strange to want to prohibit entrepreneurs (in my mind that's what creators are) from having access to whatever tools enable them to profit directly from the success of their work, by way of entirely voluntary exchange from their audience.
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androidsixteen 🌲
@androidsixteen.eth
Firstly, I appreciate being characterized as a “fair and skeptical fellow”, thank you 😄 Re: coins — the main argument that @jessepollak makes above conflates two points: - creators being able to access more of the value they create as opposed to the intermediating platform - this value exchange happening in the form of fungible ERC-20 tokens being traded with fee rev share for the content creator The former is valid and a no-brainer, the latter has holes. Tokens / coins are just one of many items in the financial toolkit. Shoehorning content into the form of a token works when there is general euphoria around trading tokens, but cheapens the content by associating it with speculative mania This doesn’t mean it *shouldn’t* happen, but rather that it won’t get significant adoption because it misunderstands the relationship between creators, curators, consumers and traders Related — one of my core views is that the past 5 years of crypto has trained us to overfinancialize products
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derek
@derek
I’d go further. It doesn’t just misunderstand the relationships, but tokenizing culture will fundamentally change those relationships. As with anything, there will be positives but I think it’ll largely be negative.
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androidsixteen 🌲
@androidsixteen.eth
Yes, the relationships will become more mercenarial This is good when it comes to aggregating liquidity. But not so good when you’re trying to create art and foster bonds Exactly why it won’t have a huge TAM
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