Stacker news is honestly so refreshing.
I myself worked on social tokens for a couple of months and thought a lot about microeconomics and how to align incentives – I came up with pretty much a similar model to stacker news (Reddit karma system and community-wide rewards for the "best" posts).
We struggled a lot with how the community tokens should be engineered. You ask yourself a lot of questions like; "How large does a community have to be to have its own token?" "How do you align the pull & push forces for the token to not go to zero eventually?" "How do you align >organic< community growth with token value?" etc...
At the end of the day, we couldn't come up with a system that doesn't somehow feel a little scammy...
However, it's very refreshing to me that there's actual demand for having a platform like this work without any complex token incentives. Just simple sats.
I'm really really fcking happy about how active the community here is! Feeling relieved that my intuition was right πŸ‘€
I'm very very convinced that stacker news is absolutely on the right track... πŸ’ͺ
Up and onwards πŸš€
Fuck yeah. Happy I found this when I did. Really cool to be able to help this grow. I shill it like I made it lmao.
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Stacker news has been the biggest "holy shit this is magic" tech thing for me in the past few years. It's by far my favorite lightning project to shill. Thanks k00b :)
Also, mad respect for the lightning bolt UX... elegant, intuitive, beautiful.
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Pumping out Sats left and right just feels amazing haha
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"Login with Lightning" was a magic moment for me.
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I legit check it everday found some cool projects and discussions here and it's part of my daily bitcoin update routine
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@k00b should charge to host communities for people. offer some minimal branding options like a logo and a few colors.
I would move my subreddit crew over here. I mean the sats payout for contribution is an amazing co-op style system that is very attractive.
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These would be cool additions to user generated subs.
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Would it be possible to make a user-generated marketplace sub? (Just buy/sell classifieds like Craigslist, no backend for order/payment processing or escrows required.)
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You mean payments are handled out of band, not through SN? That would make things easier. It's possible for sure.
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Yes, similar to Craigslist, Facebook Marketplace or /r/Jobs4Bitcoins.
E.g. someone posts "Selling Thinkpad T420 for $150 BTC" or "Offering graphic design services for Bitcoin" and sets an optional boost for visibility, then someone contacts the seller (via Telegram, Matrix, email, etc.) and pays with their external wallet. Optionally a pinned post for reviews or people who are offering escrow services (also via external wallets).
Stacker.news could earn money via boosts or listing fees.
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Yeah this sounds like a great idea.
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The pre-requisite is to do DMs, right? And pre-requisite for DMs is better profile page (imo) :)
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Yes. Priorities remain the same
Check and trade in the ~AGORA territory, it's like Craigslist but pay you Bitcoin πŸ˜‰
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oh is that still coming? nice!
Will user generated subs just give a little more of a cut to the SN crew then?
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idk ... I think we eventually move to model where we take a small fixed cut of everything and all the rest goes back to users. For now, I'm just happy people are enjoying being here tbh.
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+1 on this.
Charge for cool stuff on communities. Another cool stuff could be allow admin to have a cut of the income that the community produce, like an income for working as an admin.
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Agree. Love SN. It’s also helped me kick my Twitter addiction! Here I get to check maybe a couple of times a day and see quality content with solid discussion. The fact that it uses Sats is really useful friction for now I think (filters for the right people), and I suspect will scale really well too.
Well done @k00b and team!
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Also thankful for Stacker.news.
While Reddit upvotes and Twitter retweets can help to share good content, Reddit awards and Twitter likes don't have any real value. It feels better to send someone 100 sats than to send a free Reddit award, because the sats can be spent on real products at any Bitcoin-friendly merchant via an open network.
Also Stacker's UI is easier and more streamlined than sending a manual tip or using a tip bot (one click vs. "scan QR/copy address, open external wallet, choose amount, send").
These Lightning tips also help to create a circular economy (e.g. someone receives a tip, then tips someone else's post or saves their tips to buy a product) and it could be many people's first experiences with earning and spending KYC-free Bitcoin.
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You can build beautiful things on simplicity and clear rules. That reminds me of something…
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SN has been by far my coolest find this week. Amazing community here.
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Stacker News is the based source for Bitcoin anything and everything I find myself addicted to the information since it is so compiled and also the engagement ps I love seeing the sats go up! Its a great concept and just so simple to use if your looking for quality and your here you have found it. Just like at all the Meet Ups that are happening they draw in quality and thats what I see that Stacker News has accomplished and continues to do!
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Thanks f! Tokens that you control and can give yourself are always going to be scammy. As a token issuer you'll always have incentives to give yourself tokens regardless of the value you've provided to people. SN has no such ability to give itself sats, so it has to earn them. Fairness is so important in any community.
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Definitely! Fairness is the most important thing here!
Though, you can definitely design tokens in a way where you cannot control them. You can definitely fix this.
I'd argue the better question to think about is "do you need it?" – The more liquidity a token has, the better it is suited as a medium of exchange and store of value.
So why not use the most liquid token there is? πŸ€·β€β™‚οΈ
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At the end of the day, we couldn't come up with a system that doesn't somehow feel a little scammy...
Even if you could stumble into a novel technology & incentive structure that achieves harmonious equilibrium and some interesting game-theory powered feature set or utility, then that development still needs to be funded (or justified against prevailing opportunity costs). And then, after it's funded, then comes the challenge of token distribution mechanisms. After that, governance for change management over time along with security both need to be really well done. And it can't take off while still centralized, cause if there is any material volatility due to early hype (call this "Vaporware Volatility Effect") -- with a crash that follows -- then people get litigious and go after the founders, (See Tezos, Sia, Nano).
If the odds of those 6 gates (Novel Utility, Funded, Distribution, Governance, Security, Vaporware-Vol) succeeding are 10% (very generous), then it means there is a 10% x 10% x 10% x 10% x 10% x 10% chance of reaching long-run viability.
1 in 1,000,000 chance.
There is only 19,041 entries on CMC as of the time of this writing.
I declare the above, the The Six-Gauntlet Token Proof
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Short & simple text-centric model works best when money is linked to posts. Anyone remember what a shitshow trainwreck Steemit was?
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the truth... is beautiful
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I agree, it's fantastic to see what's happening here. I am imagining the possibilities as the website expands, this really could blow up if it's handled correctly.
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Next step: have people run their own SN instances on their own nodes and have them all work together over open protocols: syndication via RSS, karma transfer over LN.
This would make all other social networks irrelevant.
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way better than Reddit I keep getting banned for speaking my mind what a crock of shit
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I love this kind of experiments, just like sphinx, what happens when people can get paid for the content their produce?, Would they behave different?, Would they try to be better users?.
Let's see it.
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SN is an interesting platform and it differs from the rest, the same community within it supports, shares and interacts, and regarding the token, that is solved by Bitcoin, there is no need to look further in other currencies, BTC is a secure, network where no one has absolute power or attempts to harm a third party
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Me, I do!! 😁
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πŸ‘πŸ‘
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Yeah, some bitcoiners just showed me this site IRL
Love it!
Would it be possible to make a user-generated marketplace sub? (Just buy/sell classifieds like Craigslist, no backend for order/payment processing or escrows required)....... @
Me, I did :D It's Awesome.
No more toxic anti-crypto Hacker News folks!
This is perfection.
This is a project where you put your words and money at the same time. Talk bullshit cost you money. As simple as that.
You might like Hacker News as well, it was the inspiration for this community. Unfortunately, it has a somewhat anti-Bitcoin bias.