SN Million Sats Madness: Scarcity or Abundance Mindset \ stacker news ~meta

SN Million Sats Madness: Scarcity or Abundance Mindset

3000 sats \ 47 comments \ @cryotosensei 1 Mar meta

zaps forwarded to @0xbitcoiner (50%)

Stacker News is experimenting with the way it distributes its rewards in March. It’s a go big or go home system - only the top 64 Stackers will be awarded sats at the end of the month. It’s a 31-day marathon, in which we must pace ourselves and zap others big and often.

Exciting times, huh?

I’m excited about this experiment because I love myself a good competition. But I guess I’m a bit anxious at the same time because the first time I did was to…

…lower my default zap to 28. ⚡️

The thought of not receiving Daily rewards is scary. I usually take some profits off my SN wallet and zap Stackers a portion of the rewards I receive later during the day. Not having this income feels like I have to power through a hectic workday without my COFFEE. Geez, am I gonna make it?

I thought not. That’s why I lowered it to 28. But then, I thought about it again. Is this how I wanna play this game? To offer a subdued version of myself, cowering in apprehension, half-obsessing about whether I have enough sats to last me through the month.

So, while this competition is about “competing” with others to emerge among the top 64, I found it intriguing at how it brought my inner demons to the fore. Why am I not afraid of having enough?

Subsequently, I set it back to 108.

Because ultimately I subscribe to the abundance mindset. I probably won’t become wealthy in my lifetime, but I do believe that I will accumulate enough to give myself and my family a lifestyle that will enrich us. The Universe will provide for me if I submit to it my ingenuity and wits and determination. It will be the same for SN.

Ending this with a Zen proverb I read here recently:

“Before enlightenment chop wood, carry water. After enlightenment chop wood, carry water.” ~ Zen Proverb

Just another day on SN. Just another day of stacking sats.

Passing some happy sats to @0xbitcoiner to alleviate his anxiety about not having enough

view all related items

88 sats \ 1 reply \ @DarthCoin 1 Mar

21 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

Giacomo was the one who convinced me that ordinal theory is a fool's errand. Amen.

107 sats \ 7 replies \ @oliverweiss 1 Mar

64 Stackers only? Really?

145 sats \ 6 replies \ @siggy47 1 Mar

It incentivizes us to turn on each other. Divide and conquer. It's a good way to discourage new stackers.

97 sats \ 3 replies \ @cryotosensei OP 2 Mar

I agree with all the points you mention. It takes some time to get used to the vibes of the sub; new stackers may leave because of the lack of the pull factor offered by the Daily rewards. I also think that if it’s meant to be, some of them will find their way home. I joined SN in Dec 2022, but it wasn’t until Nov last year that I really put in the labour of love required to understand the sub and its eccentric ways xP.

I’n with Atreus. It’s a month-long experiment (I thoughtfully omitted the way ‘just’ even though that’s how it goes in my mind haha). I feel that it will bring about more posts since people don’t want to lose out. It’s like how diamonds are formed. Put them under pressure and they showcase their ability to preserve their grace and strength. It’s also like how I promptly posted on ~Bitcoinbeginners after you announced your new initiative.

Let’s have fun. I promise to cheer you on even if you beat me left right n centre

264 sats \ 2 replies \ @siggy47 2 Mar

I just think it screws up incentives, which are so important to Stacker News. Truth be told, I didn't like the random rewards that just ended either. I felt like it encouraged attempts at gaming the system and I never heard a good argument in favor of it. This is much worse, in my opinion. I see no benefit. It's human nature to try to win. This contest is easy to game. I like to think I wouldn't do that. I don't think you would either, or the other stackers I have gotten to know here. That's not the point. We're bitcoiners, seeking trustless systems, and now this contest requires a good deal of trust. It also pits stackers against each other. It excludes less successful stackers. It screws up stacker cash flows that some here count on. Rent is coming up for most territory owners in four days and a source of income has been arbitrarily removed without warning. I know people disagree with me, but I think it's a terrible idea. I don't see any upside.

109 sats \ 1 reply \ @cryotosensei OP 2 Mar

Thank you for your reply. Now I understand that you are upset (?) because the competition runs counter to what you believe should be the differentiating feature of a BTC-related platform: trustlessness. Hence, if we were to follow strictly the ethos of BTC, we would not have let this experiment have a place.

I agree and I also think differently. Now that SN is flourishing better than ever, I think it’s a good idea to run a stress test to determine how Stackers were to respond if certain structures were gone. Of course, there is the saying “if it isn’t broken, don’t fix it”, but let’s say there comes a point in time where Daily rewards have to be sacrificed to pay for operational costs, will we Stackers adapt well to it?

My two sats’ worth

0 sats \ 0 replies \ @siggy47 2 Mar

Stacker News is a great place, and it runs better because it's not entirely trustless. We all accept this. I wouldn't single that out as the main reason I don't like this experiment. I said my peace. I'll deal with it. I still love this place.

76 sats \ 0 replies \ @oliverweiss 3 Mar

This. And also you would need to be here all the time and add content, comment, whatnot. Let’s see how this goes.

76 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

I see your point. If a stacker doesn't have a chance of making it to the top 64, they won't be motivated to zap.

106 sats \ 18 replies \ @siggy47 1 Mar

If we make it through the maze we get the cheese. They're toying with your brain chemistry.

238 sats \ 11 replies \ @Undisciplined 1 Mar

Yeah, but I want the cheese.

31 sats \ 0 replies \ @cryotosensei OP 2 Mar

I love the way you goad him on haha

31 sats \ 9 replies \ @siggy47 2 Mar

And you get to see who's ahead of you. No more incentive to zap quality content. No matter how good the posts, how hard will you zap the guys above you, especially if you're near the top or on the bubble?

76 sats \ 8 replies \ @Undisciplined 2 Mar

No more incentive to zap quality content.

That's how you get the cheese, though. It would only work if you cartelized, but cartels always fail.

51 sats \ 7 replies \ @siggy47 2 Mar

You can be a Lee Harvey Oswald lone gunman in the book depository or the grassy knoll armed only with your downzapper. And, cartels can work pretty well. OPEC brought the US to its knees.

20 sats \ 6 replies \ @Undisciplined 2 Mar

How exactly do downzaps factor into all this?

51 sats \ 5 replies \ @siggy47 2 Mar

You downzap the hell out of the guy ahead of you every time he posts.

107 sats \ 4 replies \ @Undisciplined 2 Mar

There's some fun game theory to think through here. Downzapping will get expensive and the leader has more incentive to downzap whoever's behind him.

I think we're going to learn just how incentive compatible @k00b's rules are.

Btw, does the downzapper's downzap count towards their rewards as though it were a zap?

view replies

97 sats \ 5 replies \ @BitcoinIsTheFuture 2 Mar

So many options and paths… mmmm … 🧀

116 sats \ 4 replies \ @siggy47 2 Mar

You can even down zap the guy above you, even if you like his post, if you want to WIN!!!

76 sats \ 2 replies \ @0xbitcoiner fwd 3 Mar

I hadn't thought of that, and it could be used to play dirty. I'll just keep doing what I was doing. Zapping and posting good content.

100 sats \ 1 reply \ @siggy47 3 Mar

The honorable way. It's weird for bitcoiners to rely on trust!

76 sats \ 0 replies \ @BitcoinIsTheFuture 4 Mar

lol I don’t even trust myself!

76 sats \ 0 replies \ @BitcoinIsTheFuture 2 Mar

Oh boy you’ve really covered all the angles here! Good luck!

100 sats \ 1 reply \ @Atreus 2 Mar

It's just a month long experiment. We'll see how it goes!

Worst case scenario, we turn into another Stanford Prison Scenario, Koob becomes like Phillip Zombardo, and Atreus discovers the evil within himself he didn't know was there. But it'll make a great documentary for BitcoinTV.

0 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

It's too early to tell, but I think this mechanism might discourage stackers. On the other hand, the more attractive prize could also attract more people. I guess we'll just have to wait and see.

62 sats \ 1 reply \ @Undisciplined 1 Mar

Great sentiments as always.

I hadn't thought about how it would be different to receive the rewards in the middle of the day. It sounds like a speed boost.

I wake up to a fresh rewards payout and just spend down throughout the day. That gave me a similar concern to what you expressed. I wondered if I would need to tone down my zapping enthusiasm, but decided that if you live by the sword you die by the sword.

I feel like people are zapping quite a bit more today, though. I'm largely breaking even so far.

30 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

I might have been blowing things out of proportion. If I was spending roughly what I was earning from the posts, I won't need to dip into the balance I left in L2 too often. (I transferred almost all my funds to L1 last week, what bad luck...)

124 sats \ 5 replies \ @south_korea_ln 2 Mar

I will also follow the path of abundance. We all know the few satfarmers who post the same kind of "anger content" day in and day out, yet barely return the favor by zapping others (it's easy to check in the rankings). I stopped engaging with them as I prefer interacting with users who are here for reciprocal value4value, as I think that is what will make the strength of SN if it is to survive.

Seems like I am not on the list of 64 stackers for now~~ Maybe I should make some anger content after all :)

100 sats \ 3 replies \ @cryotosensei OP 2 Mar

Yes, talk to Sensei! Sensei will zap you 6-7 times out of 10. (I’m not infallible haha).

The reason why I zapped you back so early is could you clarify by what you meant by anger content? Haha. I’m curious to know

0 sats \ 2 replies \ @south_korea_ln 2 Mar

It's what I call content that is known to rile up many stackers here. Content that confirms our anger at the current system. Say, you post about how the economy is bad in Europe, pulling up a low-effort random graph (no source, just a screenshot without legend) that vaguely supports the claims, and you are sure to rake in a couple 1000 sats. I've posted it once or twice myself. Lots of stackers here somehow like this kind of negative content about the economy and how the current system is collapsing toward that elusive point of hyperbitcoinization.

I don't mind this type of content, as long as it is well-researched, shows both the good and the bad, etc. In all, I like nuance and a healthy level of positivity to counter the negativity. Our system is rotten, I agree, but let's think about how to make it better rather than confirm our bias over and over that Bitcoiners are the only ones who somehow have good intentions.

I could give you the name of a user who does this type of content all the time, but I don't want to name and shame ;)

108 sats \ 1 reply \ @south_korea_ln 2 Mar

(and good for them if posting this type of content is cathartic... it seems to resonate with lots of people... i just mute it... so "shame" is probably not the right word)

0 sats \ 0 replies \ @cryotosensei OP 2 Mar

Your empathy score must be off the charts xP

You also made me realise that I need to beef up my knowledge about hyperbitcoinisation haha

0 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

... reciprocal value4value, as I think that is what will make the strength of SN if it is to survive.

this ^

37 sats \ 1 reply \ @grayruby 1 Mar

Abundance it is.

20 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

I believe that abundance makes people more humble.

32 sats \ 3 replies \ @carlosfandango 3 Mar

Thank you for your perspective. It’s not my sandbox so I don’t get a say.

Suffice to say’ I don’t see it as a competition but rather a game. And in my experience if you play 5hit games you win 5hit prizes.

20 sats \ 2 replies \ @0xbitcoiner fwd 3 Mar

I had a lightbulb moment: we should be all about posting and sharing top-notch content. Yee-haw! 🤠

16 sats \ 1 reply \ @carlosfandango 3 Mar

Well my value is just being jerk… Giddee-up!

0 sats \ 0 replies \ @0xbitcoiner fwd 3 Mar

You're very generous, thank you for that! I've been thinking more about the situation and maybe I'm making a mountain out of a molehill. After all, if I spend roughly what I earn with the posts, I won't need to dip into my L2 savings very often.

0 sats \ 0 replies \ @030e0dca83 2 Mar

stackerNews evolve, and I'm really exited we are experimenting. Eventually ineffective experiments will die while successful we'll keep using

Have a great day everyone here