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@Kitty4D on the B-Chain
just my adventures with the blockchain, web3, cryptocurrencies, and NFTs
Developer, Content Creator, Former Camgirl
aka @kitty4Do, $kitty4d
Nvo Profile Photo
Nvo
2021-08-16
β€’ 6 months ago
We're all just walking each other home ❀️ Founding team: @bitstoday, @alphamint Founder: keepcool.co 🌎 https://y.at/πŸ€ πŸŒ™βŒ›
Something I've been thinking about a lot is how every new creator or account on BitClout is automatically assumed to be a perpetual endeavor / going concern ♾️. Just because the blockchain is forever doesn't mean every project should be. Maybe there are more elegant mechanisms (and certainly room for more honestly) acknowledging that most projects and accounts won't last more than a few months. Case in point the majority of PFP NFT series on here. It's OK to admit it - we're going to move on from 99.9% of them. In those scenarios, the creator coin really isn't a valuable structure - it's just a bonding curve people pile into assuming they won't be the last ones out. One reason this matters more than short-term gains and losses is the amount of $clout that will be forgotten and lost in stranded assets. Could eventually be at the scale where it messes with the original vision for total supply and becomes so deflationary that velocity is hampered. I think when someone like Vitalik notes he disagrees with the economics on here, part of the reason he says so is also because the bonding curves are so steep that they incentivize making new accounts as the #1 economic behavior. It's also just exhausting to keep up with πŸ˜‚ I'm no saint in all this, just wonder what a better path looks like ✨. For one, here's my commitment - NO NEW ACCTS FROM ME.
maz Profile Photo 100 Profile Photo samhorine Profile Photo JoshuaCottrell Profile Photo danielwilson Profile Photo pall3n Profile Photo michaelgiordano Profile Photo
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maz Profile Photo
maz
2021-08-16
β€’ 6 months ago
Wow!! Well said bro!! πŸ’―
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100 Profile Photo
100
2021-08-16
β€’ 6 months ago
Man, I love the way you communicate!
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samhorine Profile Photo
samhorine
2021-08-16
β€’ 6 months ago
It is exhausting - the burnout is going to hit harder and faster then any of us have ever seen before I suspect
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JoshuaCottrell Profile Photo
JoshuaCottrell
2021-08-17
β€’ 6 months ago
This is a great insight. I also have seen it lead to a lot of accounts playing look-active-games so they're just active enough to keep people from selling off their coin but aren't bringing any real value. It's a weird set of incentives and I'd be shocked if it didn't cause more issues down the line.
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danielwilson Profile Photo
danielwilson
2021-08-16
β€’ 6 months ago
well said. this is precisely the reason I have moved to focusing on projects that are 100% focused on MRR. This requires almost completely ignoring coin-price/FR-based strategy.
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pall3n Profile Photo
pall3n
2021-08-18
β€’ 6 months ago
Really great points here. I hadn't thought about the "forgotten and stranded assets" locking up $clout before but agree that this could be a problem.
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michaelgiordano Profile Photo
michaelgiordano
2021-08-17
β€’ 6 months ago
@Nvo - very well said. Appreciate the insight and I agree with what you said. I think the hardest part is knowing that projects have a life-cycle that also includes the death of the project.
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