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Why Writers Should Embrace Bitcoin
2095 sats \ 26 comments \ @siggy47 15h BooksAndArticles
Like other creators, writers are experiencing a significant decline in earnings. The emergence of artificial intelligence will only make things worse. Genuine creativity has been commoditized. Youtube and Spotify are gold mines for the platforms, while those crafting the product are tossed crumbs. Nearly half of TV writers are now paid the minimum rate. Substack and Medium are only reliable sources of income for the lucky few and the already famous.
It won’t be easy, but bitcoin is in its wide open infancy, and writers don’t really have many options anyway. Nostr and Stacker News already provide more opportunities for authors to receive value for their efforts than the fiat world, and things are just getting started. In the current environment, writing contests are held by so called prestigious publications whose “award” is more than paid for by the submission fees. For most, you pay to be rejected.
If you’re an established writer, your compensation for articles and copy is embarrassingly low, and the field is only getting more competitive.
That’s why @Scoresby, @TotallyHumanWriter and I have joined to create The Stacker News Fiction Month. It only costs 60 sats to enter, and we are offering 200,000 sats in prizes for the best work.
If participation is high and the proof of work is evident, this will be the first of many contests featuring many genres.
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138 sats \ 5 replies \ @denlillaapan 11h
If you’re an established writer, your compensation for articles and copy is embarrassingly low, and the field is only getting more competitive.
Not because there's anything broken in those industries, it's just like with music (#796401): supply/ability to create is MUUUCH bigger and wider than demand to consume -- so price gotta drop to zero-ish
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12 sats \ 1 reply \ @siggy47 OP 11h
I guess you're right. Sad but true. I always think of the musicians I love whenever I see what they get paid by Spotify.
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36 sats \ 0 replies \ @denlillaapan 11h
All 7 cents of their royalty payments!!
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33 sats \ 1 reply \ @TotallyHumanWriter 10h
I'd argue that it isn't just supply and demand principles (but that does play into it).
Publishing accross all arts is free but not open. The rules of the game are set by big tech - Google, Microsoft, Meta, Amazon. These companies don't give a fuck about equitable distribution; they only care about profit, and driving more demand.
Their algorithms lead to a huge concentration of sales from the top 1% of creators.
Basically, fiat incentives make writers and other chase the wrong goals.
Nostr, SN, Lightning, and V4V fixes this.
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0 sats \ 0 replies \ @denlillaapan 9h
Nostr, SN, Lightning, and V4V fixes this.
No, I don't think so. It means you can monetize you V4V a little, but because of the S&D effects, the equilibrium value remains incredibly low so you won't earn much.
The era of decent compensation for art or writing or music is over; technologically outcompeted, like so much else
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154 sats \ 0 replies \ @Scoresby 11h
Perhaps writers should start paying to get their content in front of people.
Looking at the professional writers online (using writer broadly here, not only referring to journalists and authors of books), it seems that the compensation from their writing is not as valuable as the audience they build.
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36 sats \ 0 replies \ @Now_Singularity 9h
I support the direction wholeheartedly. I post cartoons here for the same reason. Sloooowly learning how to create cartoons with AI and move to the world where zaps replace hearts in a world of V4V.
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36 sats \ 5 replies \ @denlillaapan 12h
this, by Mike Munger, always resonated with me https://thedailyeconomy.org/article/why-do-basketball-players-make-more-than-teachers/
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33 sats \ 1 reply \ @SimpleStacker 8h
“As an educator myself, I am happy to grant that teachers produce value for students, and for society. But even the most marginal teacher, at the worst and least motivated public school, can’t-wait-for-retirement clock puncher, makes far more than the marginal basketball player. You can’t compare the marginal unit of water, or teachers, with diamonds.”…
I actually don't think this is a great comparison. Both basketball and education are heavily distorted. Basketball by the monopoly of the association and teaching by public sector funding and unions.
I'd argue you can't really compare marginal anythings in either basketball OR teaching
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30 sats \ 0 replies \ @denlillaapan 8h
Niiiiiice! Yeah, agree with that... fiat/distorted markets make it hard for us to disentangle market price info from what's just noise
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33 sats \ 1 reply \ @unschooled 11h
great read, i think he sort of "buried the lede"
Marginal basketball players are paying $65 a month to play, compared to at least $4,000 per month monthly salary for experienced teachers in most states. Basketball players are not paid more than teachers; the entire complaint is a basic confusion over an example that everyone thinks they learned, but didn’t actually understand.
there's probably a lot to be said here but in general I think the comparison you are making (as in #1058011) is that writers, like basketball players, in general operate "at a loss."
it makes me wonder if this has always been the case or are present day, fiat payment schemes/business models to blame.
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45 sats \ 0 replies \ @denlillaapan 11h
Hm... Neither. I'm thinking it's a tech constraints. Once you started competing with the world, rather than your little isolated village, it became a Pareto distribution (or worse...), everyone else making nada
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33 sats \ 0 replies \ @siggy47 OP 11h
Wow! Excellent quote. I hope the other economists chime in on this.
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136 sats \ 1 reply \ @halalmoney 11h
Isn’t it easier for a writer to do a job he hates so he can afford to write the words he loves?
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100 sats \ 0 replies \ @siggy47 OP 10h
I would say so.
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36 sats \ 0 replies \ @030081fcc5 11h freebie
Good
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36 sats \ 0 replies \ @flat24 12h
I totally agree, not only writers, all people who believe content, value, art or anything else should embrace Bitcoin. Eliminate the intermediary and really take advantage of the support they can get through their work.
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47 sats \ 1 reply \ @Machiavelli23 12h
I’ve always wanted to write but life happened but now I decided to return to it. I don’t have any social media but decided to start using SN to start dipping my toe into writing by responding to posts with my 2 sats. I haven’t written anything other than a response but Im working on a few ideas. I’m also thinking about entering some of the writing contests.
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0 sats \ 0 replies \ @siggy47 OP 12h
Great! I'm looking forward to reading your work.
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167 sats \ 1 reply \ @cleophas 12h
I've made more from posting stories on SN than I ever made from trying to publish them on traditional platforms...
but that might just mean you all are a captive audience and don't get enough stories put in front of you.
(or that I'm bad at writing)
(or that I'm worse at marketing)
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0 sats \ 0 replies \ @unschooled 12h
(or that I'm bad at writing)
fwiw, ive really enjoyed your stories, but who am i to judge "bad" writing.
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57 sats \ 1 reply \ @Marc26z10 13h freebie
I write on nostr only.
Where do we pay the 60 sats to enter?
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7 sats \ 0 replies \ @siggy47 OP 13h
All you need to do is post your fiction. The 60 sats is just the post fee
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36 sats \ 1 reply \ @unschooled 15h
Substack and Medium are only reliable sources of income for the lucky few and the already famous.
ive always found this to be the case.
I wonder if a @LayerZeroPropaganda poster might help with promoting your contest?
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45 sats \ 0 replies \ @siggy47 OP 15h
Marketing is not really my thing, but I'll run it by the other guys. It could be a good idea.
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0 sats \ 0 replies \ @nolem 13h
Why not have a territory called SN stories with a 60 sat upload
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