Philip Decker

@psd

118 Following

63 Followers

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With btc at ath, I’m noticing most people I know aren’t exposed. Family, friends, co-workers…none hold any btc. So they’re watching the price rip but remain on sidelines bc it’s “too expensive” now, or they feel they “missed the boat”. FOMO is once again driving many to look for the “next bitcoin”. And my bet is that this cycle crypto has a massive opportunity to meet consumers where they are and give them something to get behind. “Mission coins” will fill that void. Tokens that support a greater good or incentive a brighter future will steal the narrative, and give those that missed out on today, a solid chance to roll the dice and gain some wealth/financial security tomorrow. And we’re the lucky ones that get to build those tokens and shape those narratives. Game on!!!

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Another great read from Richard Powers. No Overstory, but still solid. One thing struck me though. In the book, the character Todd Keane builds an online network called “Playground” that employs an in-game currency. And users essentially pay to play, pay to post, pay to engage on the platform. Was this book the inspiration for farcaster????

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1/5 Attention Tokens: Cultural Stores of Value in a Hyper-Distracted World At the bottom of it all, crypto is a few core things: (1) a digital store of value (btc), (2) a currency (USDT, USDC), and (3) a hyper-connected incentive mechanism. The first 2 are well on their way. I want to focus on the 3rd, mostly because I believe it has the potential to be the most impactful. Munger said it best, “show me the incentive, and I’ll show you the outcome”. In our hyper-distracted world, the incentive is to keep doom-scrolling, keep frying our attention, keep that dopamine drip flowing. My thesis is that the stage is now set for a new crypto store-of-value to incentivize a reawakening of the human mind, freeing us from the shackles of social media. I call them “Attention Tokens”.

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Touch grass. Earn points. Problem: Digital addiction Pings have eaten the world. Hijacked our attention. And depressed our kids. Now, everyday is an endless stream of alerts, updates, slacks, dms, emails, videos, replies, likes and follows. This is obvious. As are the detrimental effects on our mental health. There’s no end in sight. And there’s no incentive for anyone to turn it off. But there should be. Solution: An app and token that incentivizes users to stay off social media. The app monitors all programs running on a mobile client (user permission requested), and when social media apps are closed, the faucet dispenses off-chain points (redeemable for tokens at a later TGE) to the user. When the user opens TikTok (insta, X, etc), the points stops. Incentives are the most powerful tool man has ever created. Lets use them to reorient human attention, get people off social media and back in the real world. Touch grass. Earn points.

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Love this! As a former in-house counsel at Amex, I transitioned to the business side (corp strategy) 2 years ago to push crypto, and fully agree my experience helped immensely. Tho, we’re still not doing anything in crypto ha. Anyways, law school is all about getting good at issue spotting. And then applying the relevant rules/laws (IRAC, anyone?). I think that’s one of the main skills that translates to many facets of business…figuring out quickly what the main issue is and solving for that. I see many of my colleagues get bogged down with irrelevant facts/concerns that don’t drive to the heart of the matter. But, I also worked with many lawyers who were too far along in their careers, and too hard-headed, loved to argue way too much, and seemingly didn’t have any empathy for our customers, to make the transition to the biz. So ur spot on with lawyers making the transition early/mid career. Before their minds cement into arrogance.

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Halloween in Hoboken looking goooood

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I grew up with a giant forest in my backyard that went on for miles. And it was mine alone. I spent my childhood in that forest…and this book brought me back to my love of trees. I just finished it, so I’m a bit captivated. But man, it was beautiful. Just like trees.

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To be Prince Caspian

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Points. Then Payments.

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yes…get more people comfy w wallets and trusting tokens. Then figure out payments. Earn > buy for this

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Stablecoins are great, but burn with inflation. To reshape payments we need to be more purposeful and build a “medium-of-exchange token” specifically for commerce. One that maintains purchasing power. https://mirror.xyz/0xDE8b8fE5D03179F3CF756d44b76f587F55D44B50/c_lXV21ll1yH3XLCGvmBsPVhS-x2G_TGu6mHjOmGDC4

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A big part of consumer crypto is payments. But it hasn’t lived up to the potential. We need more tokens designed specifically for use as a medium-of-exchange. Here’s some thoughts: https://mirror.xyz/0xDE8b8fE5D03179F3CF756d44b76f587F55D44B50/c_lXV21ll1yH3XLCGvmBsPVhS-x2G_TGu6mHjOmGDC4

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Such a strange trip. Loved every page.

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E-commerce in frames….YES!!!….but a key part of that is payments, and I worry we’ll end up using the same old boring payment stack. Fuck that! this is a chance to reshape e-comm. we need to make a bold step and power it all with inflation resistant tokens….lets create “inflation-resistant commerce”!!

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