basil

@itsbasil

854 Following

16448 Followers

basil pfp

grok after being trained on twitter data

2 replies

2 recasts

21 reactions

basil pfp

did you bookmark this lol this video always gets me 😂 little man is on

0 reply

0 recast

0 reaction

basil pfp

lol worked closely with both sides for many years

0 reply

0 recast

0 reaction

basil pfp

“locking” it would essentially mean that there is one road in & one road out, outside of a few unique situations, or could quite literally mean locking up tokens in order to accrue participant network value, so there are several ways to look at it, depending on the system & desired outcome

0 reply

0 recast

0 reaction

basil pfp

any kind of network token that aligns participants & capital instead of fragmenting it & compounds value at the network level instead of the application level (and certainly not at the user level) ie. where risk flows downstream & value back up such that any consolidation attempt or competitive attack is protected by the network itself

1 reply

0 recast

1 reaction

basil pfp

it’s not about decentralization versus centralization, it’s about system design & network effects fragmentation is not decentralization the rails can be centralized or not, it doesn’t matter, but a system that encourages capital fragmentation will ultimately dilute itself at the expanse of its participants, particularly as the industry matures unless the network participants can properly align themselves, the winners will not be the users, but the exchanges, launchpads, et al.

0 reply

0 recast

0 reaction

basil pfp

yeah but are generally closed to prevent spam & enable curation—again at the expense of distribution & discovery—a particular hurdle for new users may be that large, broad channels like “fitness” need to be opened indefinitely while smaller, niche, or more personal channels can be closed likely requires testing, but this is the number one complaint in ted’s original cast so something needs to be done

1 reply

0 recast

1 reaction

basil pfp

everyone has equal access right now & the market is already “fair” yet 98% of participants have only lost this will accelerate in a everything-is-tokenized world & destroy any network barriers we have that currently protect our users & creators it will not do anything to make the market more efficient or fair; it will dilute everyone & their efforts it will end in hostile consolidation where a handful of big players dominate the small

1 reply

0 recast

1 reaction

Garrett pfp

Bring it back @itsbasil

1 reply

1 recast

7 reactions

basil pfp

this was a more articulated version of this thread where i argue that any multi-asset system needs flywheel alignment at the network level to have any chance at reducing the zero sum nature of the game we play, specifically at maturity tldr: yes https://warpcast.com/itsbasil/0x3ab3562d

0 reply

0 recast

0 reaction

basil pfp

endless capital fragmentation downstream misaligns our users & diminishes our competitive network position, opening the doors to hostility & consolidation at the expense of our users

1 reply

1 recast

8 reactions

basil pfp

this is the game we play: it’s zero sum, it’s an open free market, it’s competitive & it will fragment & then consolidate not all of us can win, no matter how you slice & dice it—there will always be winners & there will always be losers this is why it’s so important to not tokenize everything, and why more tokens does not equate to more winning in fact, it’s the opposite the more fragmentation we embrace, the more dilution we face, the more attention we erase the only way to protect our creators & users, is to lockup the flywheel & protect downstream at the network level—this is the best chance we have at “winning together” otherwise, we will inevitably retrace the life cycle of every other industry that’s come before… we will have a few winners & everyone else will take the bus home

1 reply

0 recast

11 reactions

basil pfp

if everything becomes a token, then what jesse is saying here is correct—we all lose money or put another way, none of us make money as attention & liquidity will become increasingly fragmented & asset appreciation will become few & far between so again, the only way to combat this, is to front run consolidation at the network level which is best done through a flywheel in this scenario, this would mean zora would have to step in & create a new tokenized system at the network level, which would effectively protect their creators downstream from consolidation & derisk the system as a whole if they don’t, they will get gobbled up as the industry matures & consolidates, which would ultimately strip their creators of any potential earning power via whale games & price competition in other words, growth will come to a halt & all earnings will be funneled to the top, leaving their downstream stakeholders caught disengaged & restricted to losses as the expense of a few this applies to all of us

2 replies

0 recast

12 reactions

basil pfp

defi summer was the embryonic stage; innovation flourished: ideas were abundant, infrastructure lagged behind & regulation did not exist now infrastructure has improved & crypto has entered the scaling stage ideas are no longer abundant; emergence has slowed: most of the competition today is recycled & retried ideas, simply now at-scale this has led to a decline in innovation (ie. low differentiation) but an increase in competition alongside better regulation, which has ushered in an era of fragmentation this is what we are currently seeing as the market is captured, maturity is realized, fees are reduced & regulation stabilizes; we will enter an era of consolidation this is on the horizon once growth largely becomes m&a driven, there is little room for new ideas & ai will predominantly drive emerging solutions this means, today, at the token level, if you want to future-proof your project, you must front run consolidation this is best accomplished with a locked flywheel at the network level

3 replies

1 recast

18 reactions

basil pfp

traders ≠ holders ≠ users

1 reply

0 recast

13 reactions

basil pfp

let’s see if it gains any traction

0 reply

0 recast

2 reactions

basil pfp

https://warpcast.com/itsbasil/0xa6d65843

0 reply

0 recast

2 reactions

basil pfp

gating channels made channels useless; see the replies to ted’s cast; we all agree on this

2 replies

0 recast

2 reactions

basil pfp

naturally, as the network grows, moderating will become increasingly necessary & thus increasingly demanding of time ie., moderating is lowkey a part-time job; see: discord & reddit so instead of spreading degen dust across 500 users who are already receiving usdc rewards, that degen would be better utilized to compensate 10-20 mods who managed the most active channels that week further, i think building a mechanism that immediately locks up half of that degen, would help nurture & foster these channels by giving mods a tipping allocation to reward contribution, especially as 1M degen would now be distributed to 10 or so folks instead of 500 this means fc rewards incentivize better content (and soon development 😀), while degen rewards incentivize & aid in community formation—as it should be cc @woj.eth

1 reply

0 recast

10 reactions

basil pfp

i’ve given this some thought judging by the comments on @ted’s cast, channels are clearly the biggest hurdle new users face here i think the issue plays into spam; in feb, these channels were open to anyone, which resulted in a ton of useless noise, specifically during the rise of the bots this led to channels getting gated, restricting everyone from posting unless they were invited by a mod & thus made a member this means new users not only have to go search for the mod but have to reach out for an invite—which depending on the account, may end up in the mods spam DC folder anyway—never to be seen the trade-off here is that channels are now much more curated at the expense of open discovery i propose that channels be opened up again, especially now with the new spam tooling yes, this will invite spam once again to that end, i propose @jacek rewards mods with the 1M/week degen allocation, instead of coat tailing fc rewards

5 replies

0 recast

22 reactions