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https://warpcast.com/~/channel/coins
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jesse.base.eth 🔵
@jessepollak
try to argue against content coins from first principles. if a video on tiktok has millions of views, it has value. why should a single platform control that value? why shouldn't that value be explicit? why shouldn't the creator benefit from that value? seems good to me.
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tldr (tim reilly)
@tldr
@six @androidsixteen.eth @kia – you smart and fair and skeptical fellows. What's a steelman of the argument that coining content *should* not happen? (Not saying you believe this, just want the strong argument) I understand people who don't *want* it to happen. I understand people who doubt it *will* happen. But I don't get why people believe it *shouldn't* happen. To me it seems strange to want to prohibit entrepreneurs (in my mind that's what creators are) from having access to whatever tools enable them to profit directly from the success of their work, by way of entirely voluntary exchange from their audience.
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androidsixteen 🌲
@androidsixteen.eth
Firstly, I appreciate being characterized as a “fair and skeptical fellow”, thank you 😄 Re: coins — the main argument that @jessepollak makes above conflates two points: - creators being able to access more of the value they create as opposed to the intermediating platform - this value exchange happening in the form of fungible ERC-20 tokens being traded with fee rev share for the content creator The former is valid and a no-brainer, the latter has holes. Tokens / coins are just one of many items in the financial toolkit. Shoehorning content into the form of a token works when there is general euphoria around trading tokens, but cheapens the content by associating it with speculative mania This doesn’t mean it *shouldn’t* happen, but rather that it won’t get significant adoption because it misunderstands the relationship between creators, curators, consumers and traders Related — one of my core views is that the past 5 years of crypto has trained us to overfinancialize products
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androidsixteen 🌲
@androidsixteen.eth
That said, I don’t want to tear down founders in the arena trying something new with the intent of empowering creators I’m taking a “wait and see” approach, but I personally haven’t had the desire to coin anything since I’m exhausted of token mania and the excessive slop associated with it
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tldr (tim reilly)
@tldr
all makes total sense your arguments fit more in the "not sure you want it to" or "not sure it will" categories. but you don't have any "shoulds" against it. sounds smart and fair :) also love the final point: support people in the arena trying something to empower people!
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androidsixteen 🌲
@androidsixteen.eth
Yeah I’m pro markets, I don’t believe in banning economic tools carte blanche But I suspect the reason there’s so much negative sentiment is because advocating for coins as the default value exchange layer for creatives during a mania that has extracted wealth from 90+% of participants, feels tone deaf
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