Varun Srinivasan on Warpcast

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Varun Srinivasan

Don't buy farcaster accounts. You might get rugged. They were designed to be easy to use in a social app, not to be traded like nfts. Some tradeoffs we made will make it harder to trade them safely. For example, someone can set a recovery address, transfer the account to you and reclaim it back a few hours later.

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Varun Srinivasan

The other thing to keep in mind is that change in ownership is visible onchain. People might stop airdropping to accounts that have been recently transferred. Selling a low number fid might make it useless, so please be careful when speculating on future value of such things.

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petar.xyz pfp

You designed but why not let the market decide what to do with their accounts? Isn’t what decentralization is supposed to be? Why oppose a design part of the Farcaster community might not want?

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Thanks for the info Varun. This is good to know. More education on this stuff is key, especially moving forward with new tech like this. I have a large ‘past life’ in social media, so a knee jerk reaction of mine is to collect cool FIDs here for fun, although I haven’t at this point. May have to reconsider.

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Nico.cast🐱 pfp

Security is important. But I'm in the camp that a user should have total control over their account, including to trade or not trade! https://warpcast.com/n/0x375f26ce

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Jithin Raj pfp

Recasting for reach.

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Mayank 🗯️ pfp

Aren't these types of marketplaces endorsing spam?

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Nelson pfp

Is there a way to see recovery address?

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@sonofmosiah.eth

@n I’ve seen you talk on this topic recently. Anything farquest is doing to avoid rugs?

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Sui pfp

I had the same thought. Seller can reclaim his account anytime by contacting Farcaster team. Also trading FIDs doesn’t make any sense to value producing here. Anyone with even higher FIDs can create enough value than dead low FIDs. Being early isn’t enough if anyone is not producing value.

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Akva 🦡 pfp

thats good advice, thanks i'm recasting that

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akastevey.eth pfp

the flex is priceless.

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Andre Messina pfp

This early why do people need to buy an account... We're still in the follow for follow phase 😆

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ndx 🐉 pfp

Thanks this helps me cope 😏

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Wholistic 🎩 pfp

That's a great feature, and totally able to be designed around with an escrow market contract that ensures it's safe for both parties

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Aaron Ho φ pfp

what about fnames tho

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Spleefy 🎩 💰🔵 pfp

Spleefy 🎩 💰🔵

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Fractal Visions ⌐◨-◨

@fractalvisions.eth

We are never 👎 selling !!!

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VeggieChicken🎩

Recovery addr can be changed once you get the FC keys, right? What are some other vectors? Good point about disabling airdrops if the ownership was transferred, although you can’t know for certain that it wasn’t a self transfer, so maybe an unlikely criteria.

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