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dawufi
@dawufi
Farcaster as an economy is reductive and a race to the bottom for coins and content. No one wants a feed of anons casting fake wins and loss porn. FC took off because it was counter positioned to traditional crypto narratives. The quality of developer and founder here was strong, memes were niche, and people found signal in a shit filled sea of noise. I love when people make money, but the economy is a feature. Not a narrative. If economy is your entire narrative the network will eventually be replaced by nothing but speculation and you don't need a social network to do that - and it's actually detrimental. Unless you consider dark pools cozy corners. I hope we're not headed to the death knell, I'm not going anywhere, just want share a word of warning against a danger to a network that has come to mean quite a bit to me. I realized I offer no solutions here, maybe I'll offer them in another cast. Just had to vent this one out for now. Appreciation for your grace.
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@tcw
If crypto is to take off it needs to compete with the physical world with the new. Economy is the system of exchange to allow for the creative ventures that grow the new It may be grotesque, but until something on here becomes self-sustaining that provides the new that grows beyond these digital walls, we’ll be stuck in this ‘seeing what sticks’ phase on the surface Underneath the foundational work is getting up to steam. Just not enough time has passed for them to sprout
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dawufi
@dawufi
Again, not arguing that an economy in the farcaster world is bad. Transactions tied to a social identity has been part of my bull thesis for years now. I'm saying economy as a narrative will lead to those seedlings you're talking about being squashed beneath an ocean of garbage and they'll never get the chance to flourish. So to use your analogy, im hoping we're in a fertilizing phase, but it's not guaranteed. Too much dung and we'll be left with nothing but flies and a repugnant odor :)
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@tcw
Hats off for that analogy back - I'm on the same page as you I just think if seedlings can't fight the noise on here they won't pull from the wider Internet, because the shit is much thicker everywhere else
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