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Edward H. Carpenter
@ehcarpenter
A lot of my fans seem to be MOXIE-maxis - so I'm very curious to get their perspective on this essay, which suggests that staking tokens for reasons other than PoS network operational requirements may be a cause for concern. What do you think, @inceptionally @leewardbound @katwolfie.eth @betashop.eth @ipeciura.eth @degencummunist.eth @6bazinga @kristinpiljay @thecurioushermit I look forward to hearing your thoughts/questions/answers!
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Leeward Bound
@leewardbound
๐ฏ great read! tokenomics are complex and we are a decade+ deep into many various experiments in tokens and distribution mechanisms, with many more experiments to come. i agree with the author here that staking moxie seems basically like a price-prop mechanism with no explicit utility or purpose. moreover moxie fundamentals seem broken to me, bc it seems to have relatively uncapped issuance, and the only "sinks" or "demand" for it are basically artificial. im enjoying participating in moxie bc it's novel and i like to have a lil skin in the game as i follow an experiment like this, but my gut impression is that i am not hopeful for the long-term valueprop of the coin. it seems doomed to trend downwards because other than buying fan tokens (which is for getting more moxie), there's no real reason to own or hold moxie or buy more. as cryptoenthusiasts, it's important to call this stuff out. all memecoins and tipcoins have basically no value-add beyond hype, speculation, and hoping for gains off the fad.
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Edward H. Carpenter
@ehcarpenter
Great points here! I'll write another essay presently on what might fix the problems s that this essay (and your thoughtful response to it) have raised. 50 $DEGEN
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