Philip Decker

@psd

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82 Followers

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Offset merchant payment processing fees with yield-sharing stabelcoin settlement. But via empowering payment intermediaries (Adyen, Worldpay, etc) with stablecoin APIs. https://paragraph.xyz/@[email protected]/stablecoin-middleware-for-payment-intermediaries

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Watching it right now. struck by 2 things: 1) how empty America seems back then, and 2) similarities with Rain Man. I mean, they’re driving back to LA because he has a freak out on plane and won’t fly. Still, cool cool film

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Love this! #12 (every Tiktok video is also a memecoin) is particularly interesting, and likely happens imo. Why? Money begets attention. 1st Order Consequences? Sparks the hyper-finalization of social media (of all media??). And with a splash of gambling thrown in, they make tiktok even more addictive than it already is. People burn more time on the apps. 2nd Order Consequences: “Touch Grass. Earn points.” To compete, IRL will need a memecoin. Think a counter-weight incentive for staying off social media, that anyone can earn, spend and trade on decentralized platforms. This will materialize as an app that rewards users for staying off socials. Touch Grass. Earn Points.

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2025 Resolution: do everything Joan says :-)

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Agreed. Crypto as the incentive mechanism to stay off socials will be a big catalyst to healthier attention mgmt

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the eddie is a go https://www.surfer.com/news/watch-live-eddie-aikau-big-wave-invitational

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Signs in the subway know Use **the apps** less

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Board games ftw! Accelerate offline/IRL culture with crypto incentives! https://www.nytimes.com/2024/12/17/style/board-games-club.html

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I always enjoy Bill Gates’ Book recommendations, and this season I was super excited to see he added The Anxious Generation by Jonathan Haidt. If you have kids, or are just interested in what phones/social media are doing to us, I HIGHLY recommend it. IMO, one of the most important problems we face as a society is to find unique ways to get people off their phones and back in the real world. Back to boredom and day dreaming and being outside, wandering in nature. https://www.gatesnotes.com/Holiday-Books-2024

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Powers is def one of my favorite writers rn. Thought this one was right up there with his best. But man, as a father, this one crushes ya, even if u can see it coming. All I’ll say is “Flowers for Algernon”.

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https://apnews.com/article/australia-social-media-children-ban-safeguarding-harm-accounts-d0cde2603bdbc7167801da1d00ecd056

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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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I’m not sure about that. Certain people fund wallets during a bull. Sure. But it ain’t mainstream consumers. There’s still a massive lack of trust in crypto. Maybe that changes with a “US btc reserve” ala Lummis (not sure that’s a great idea) but otherwise, I tend to agree with Dan. We still need a way to build trust in crypto with mainstream consumers and provide them consistent reasons to fund wallets. That’s when the flood gates will open up. And it’s not bitcoin hitting $100k. If anything, thats even more dangerous/detrimental for mainstream adoption, because we all know it’ll eventually correct and then people will lose $ and write off crypto for good. Happens ever bull. There has to be another way besides “number go up”.

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6/6 ( I totally fudged the numbering, oh well) Admittedly, that’s a strange concept. How do you build a store-of-value out of attention? Well, it would look something like this: “touch grass, earn points”. A consumer crypto app that mints “attention tokens” only when you stay off social media. Open tiktok, and the points stop. Scarce. Durable. And fungible. In our hyper-distracted and manipulated world, where everyone’s mind has been hijacked with a dizzying stream of digital slop, “attention” becomes the culturally relevant tulips, wampum and Rai stones of our time. And might just free us from our digital chains.

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5/6 Today, crypto fits a lot of those buckets. It's durable, portable and fungible, and can be designed to be scarce. But does it have direct cultural or social significance? I don’t think so. At least, not in its current form. Sure, decentralization and self-sovereignty are important. But are they directly culturally relevant to everyone in our hyper-distracted world? No, not at all. In today’s world, attention is all that matters. So, let’s build a store-of-value out of it.

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4/5 Almost as if pre-programmed into us, every human society creates stores of value. But that idea is always limited by the physical and conceptual constraints of that place and that time. People on Yap Island didn’t want Tulips. Folks from the Netherlands didn’t want seashells. And none of them would have even been able to comprehend bitcoin. So what makes a store of value “good”? A combination of qualities really: durability, scarcity, portability, fungibility (interchangeability), and arguably, most importantly, cultural or social significance. While the form of the store of value varies greatly across time and place, its ability to be understood and relevant to a wide swath of people ultimately defines its demand and utility.

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3/5 For example: • Rai Stones of Yap Island: These were large stone disks, some as wide as 12 feet, that were used as money and stores of value in Micronesia around 1000 years ago. Their value came not only from their size but from the difficulty of quarrying and transporting them, making them scarce and symbolic of wealth. Ownership was passed by word of mouth, making the stones an early example of “ledger money.” • Tulip Mania in the Netherlands in the early 17th century, tulip bulbs briefly functioned as a store of value. In the 1630s, tulips, especially rare and uniquely colored varieties, became highly prized and their prices skyrocketed due to speculative trading (NFTs, anyone??). • Seashells in Inland America: Shells, like wampum (beads made from shells), were used by Native American tribes as currency and for ceremonial exchanges. Shells were valuable due to their rarity inland, portability, and their intricate craftsmanship in some cases.

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2/5 But before we get there (hint: touch grass, earn points), let's look at what makes a good store-of-value. Today, people use things like gold bars, btc, Picasso’s and NYC apartments. But historically, societies have used a wide range of items, each chosen for particular qualities like durability, scarcity, and cultural significance (each was limited by what was available to the people living at that particular time and that particular place).

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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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