onchainomics
This channel aims to introduce a new concept - Onchainomics: the study of how emerging economic activities take place on blockchain networks and how these on-chain activities impact the real-world global economy.
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The Nature of Cryptocurrency and the Evolution of Onchain Economic-Spatial Frameworks Cryptocurrency, by its intrinsic design, is fundamentally interplanetary rather than confined to the scope of international transactions. Prior to this, the concept of globalization supplanted internationalization, yet globalization itself lacks a cosmic or universal dimension. The emergence of Planetary economics marks the genesis of a universal framework, emphasizing not only the expansion beyond terrestrial boundaries but also the uniform distribution of structures (particularly in terms of velocity) within a single planetary context. This progression can thus be structured as a continuum of spatial and economic integration: Internationalization → Globalization → Planetary → Galactic → … We're entering the planetary phase. We need a new currency, and much more than that, we need a new type of activity to emerge - fast, verified, and permissionless. Welcome to the onchain economy.
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Some reflections, not necessarily related to this Bloomberg podcast or Jesse's views. The positive feedback loop would be like this: Strong incentives (prioritizing both infrastructure and content creators) → Social networking → Consumer engagement → Enhanced incentives Think of it this way: - The supply side, creators stay engaged when they're properly incentivized. These incentives include creative freedom, community innovation, and of course, monetary rewards - all of which are crucial factors. - The consumer side, it's quality content that drives consumer product development, which then leads to mass adoption. This isn't a chicken-and-egg problem; we can't expect consumers to sift through mountains of low-quality content onchain to find gems. The supply side must lead: first, great content moves on-chain (driven by the superior creator economy that initially attracts creators), then consumers follow with their engagement.
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Follow up: "Study: 76% of Twitter Influencers Promote Dead Memecoins" By CoinWire, Published Nov 20, 2024: Key Findings - 76% of Twitter influencers promote dead memecoins. - 2 out of 3 memecoins promoted by influencers are dead. - 86% of influencer-promoted memecoins lost 90% of their value in 3 months. - Only 1% of influencers promoted memecoins that gained 10x. 76% of Twitter influencers have promoted meme coins that are now dead. In fact, two out of three memecoins they promote are worthless. This means that a large proportion of influencer-driven promotions are essentially setting up investors for failure. These promotions often mislead new investors, who jump into these projects without understanding the associated risks. See original article below: https://coinwire.com/76-percent-twitter-influencers-promote-dead-memecoins-study/
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