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1184 sats \ 7 replies \ @Natalia 11 Sep 2023 \ on: Help decide the name of my free market content platform. tech
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Thank you, this is very valuable feedback! Since this is stacker.news, I can in fact show you that it is valuable to me by zapping you 500 sats :)
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I feel similarly to @Natalia, but I think there is a neat concept here. To me, the big question needs to be "Why would a creator switch to this platform?".
If you want to bounce ideas off of someone, feel free to hit me up. I'm an economist and some of my training was in experimental economics, which is largely about designing this kind of system. In particular, I think the downvote mechanism is going to be complicated to implement.
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Wow, I will definitely take you up on this offer! What a deus ex economica..
Just to again be clear: My overriding motivation here is: I'm a real von Mises fanboy, convinced and fascinated by the mechanism of markets (which are unique to all other computing systems), and their ability to accurately discover the worth of things.
If content feeds (like NOSTR) could be fed into a stock exchange/ clearing house / broker (which is what I'd be, I expect), find angel investors ("Oh hey, a picture of a frog I found on reddit! I'll buy 100 shares of that for 5 sats each, because that's gonna be hilarious tomorrow!") . Ever visited reddit.com/r/memeEconomy? Those peeps i suppose :) (in reality, it'd just be me, for a long time)
In this example, since I got the content off reddit, I would have filled in a link to the reddit post or comment, and it recreates the UI of the post from that, including link back to the original post and author. I figure 10000 shares can be the standard issuance (don't know much about this) so since I bought 100 for 5 each, then the post is now worth 500 sats. Since I own 25%, creator owns 26%, there are 4,900 shares available for public purchase and they're initial value is 500sats/10000 = 0.05 sats. I can either sell the post shares for that or more. Whatever I chose, thats what the posts "upvotes" or "zaps" will be, its the bid price.
Hopefully someone thinks the frog is funnyier than I did so I can recoup my sats, but it's not so big a deal since we're dealing with pennies here. More fun.
Now the upvote mechanism (zapping) means paying for either 1 share (regardless of cost) or paying some amount of sats (regardless of the size of the share you get).
And the "downvote" question, yes definitely the hardest or me. I'm thinking it's a forwards contract, maybe just set with a delivery date of one week. "I pay you [less than market price] in one week". If the "upvote" button was treated as the long position, could that work, in order to clear the orders? I'm such a novice at this.
I just want buy / sell signals on memes/posts/videos that are backed by real money instead of "clicks"! :) I want to see a stock market app that shows accurate value of whatever content anyone cares to make.
The better known such profitability is, the more creativity will be unleashed, I think.
Finally,
I'm not sure if people would need to switch to "my platform". I'm thinking about it more like a service, so users could certainly see the stuff on my site, but it would all be an open API and other's (like NOSTR) could use the price data to supplement their own recommendations.
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I think a lot of stuff will become more clear once you start actually coding it, but it sounds like your thinking it through in the right way.
If you're imagining it as more of a service than a platform, is the idea that you're generating the microbusinesses for the original post creators from Reddit or wherever (who probably will never log on), so that they could claim the shares of their posts later?
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Yes, that's accurate. Ultimately it would function as a type of patreon.com, but where artists don't have to sign up beforehand.
Just as posts/content can be split into shares and traded, users can be. Specifically, "angel investors" in this service are trying to find good tweets, videos, posts, because they themselves can be traded, and their share-price will increase if they're good at finding good content.
That's the incentive for "angel investors": Sure, you can just copy someones tweet and take credit. You can forge a Picasso and sell it; people might buy it, might start providing you patronage. But what happens when someone finds the real Picasso?
What makes someone want to "zap" you on stacker.news? They're providing patronage. Would you zap a known reposter? A forger? Maybe.
Thanks for helping me spell out these ideas, it helps a lot.
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this is the way:)
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