In the future people could be earning a living by posting on SN
375 sats \ 17 comments \ @EnormousPony 19 Jul 2022 meta
Think about that for a moment. Imagine a world where Bitcoin is the standard, basically a couple of years ahead hehe. You are on your PC commenting on someone else thread, helping him/her about something. In the old web your time and effort was worth a "thank you" or a virtual up vote but here your contribution is actually worth real money, it has real value. People will flock here to share their knowledge to the world in exchange for a real monetary value, it's far easier to comment a single specific post or create a thread rather than:
  • Run an entire podcast
  • Open a YouTube channel
  • Write blog posts
  • Be socially present, and tracked
Of course you can still do the things above but the difference between the work you have to do to obtain the same amount of value in return will stop people to open yet another podcast or yet another blog.
This alone will incentivize people to contribute in a meaningful way because otherwise the time you spend spamming and trolling would be worth 0 in monetary value and you just wasted energy for that, like mining bitcoin basically.
Maybe it's just wishful thinking but I'm super bullish on Stacker News
write
preview
related posts
135 sats \ 1 reply \ @pillar 19 Jul 2022
I guess this has simply created a market for content. The market will communicate what contents is valued and which isn't by how sats are paid.
Actually, you could also say that future people might have a very hard time earning a living by posting on SN. It's all supply and demand. If posting great content here in SN gets you a significant reward, many great content-creators who are now asleep because there is no platform that motivates them to get rewarded might join SN and start posting. This will translate in more great content available, and a harder time to get your post rewarded since there are so many other great posts. A free market balancing itself, mostly.
What is true for sure is that, as long as access to SN remains open, the whole internet is going to enjoy having great content for free. So we all end up winning I guess.
Anyways, great post. Have some sats!
reply
115 sats \ 0 replies \ @EnormousPony OP 19 Jul 2022
Actually, you could also say that future people might have a very hard time earning a living by posting on SN. It's all supply and demand. If posting great content here in SN gets you a significant reward, many great content-creators who are now asleep because there is no platform that motivates them to get rewarded might join SN and start posting. This will translate in more great content available, and a harder time to get your post rewarded since there are so many other great posts. A free market balancing itself, mostly.
As far as I know SN wants to evolve with different "subs" for different topics so this might help, of course competition will be fierce nonetheless
reply
100 sats \ 0 replies \ @kilianbuhn 19 Jul 2022
Text based content is notoriously unprofitable unless there are subscriptions or one owns the whole platform (eg big Newspaper or owning the whole of Reddit)
That's the reason why blog articles for cooking are 2 pages long until they actually mention the ingredients. Lots of ads until it actually makes sense
But yeah, it could be like small scale YouTubers or movie studio for Netflix or independent newspaper writer. There are precedents for this.
reply
21 sats \ 0 replies \ @sp 20 Jul 2022
Good energy, but won't scale in Austrian Economics terms. Capital and free markets need division of labor to become more efficient and generate more value per unit of time.
While earning sats is a nice way of valuing the time spent to write here, the opportunity cost wouldn't offset what highest paid jobs (thus more valuable jobs) would make for the same unit of time. In my opinion, wannabe Podcasters, blogposters, YouTube stars and similar are there because they can't earn more money by doing what they are supposedly teaching in their material.
On the other hand, I agree that value of shitposting vs writing meaningful things here is strongly in favor for the second (although the first one might be very entertaining sometimes)
reply
10 sats \ 0 replies \ @irusensei 20 Jul 2022
I expect things to tone down with time. Now everything is new and 10 sats are not really that much but with time people won't be as generous and upvote higher quality content.
reply
10 sats \ 0 replies \ @mrich1911 20 Jul 2022
There is great value in this resource. In its infancy we are watching a revolution of literally bringing value to social media. This is a beautiful thing.
reply
10 sats \ 0 replies \ @faithandcredit 19 Jul 2022
Can you imagine if reaching the frontpage would mean a million sats? loooong ways to go, but would be interesting
reply
10 sats \ 0 replies \ @ThrillerX_ 19 Jul 2022
few
reply
10 sats \ 0 replies \ @cryptocoin 19 Jul 2022
You grasp this. I grasp this.
What will it take for the current masses on Hacker News, Reddit, Quora, etc. to grasp this?
reply
10 sats \ 0 replies \ @sb 19 Jul 2022 freebie
The incentives are set up to perfection. If you look at the homepage of SN today, you see two posts that have earned 100,000 sats. This incentivizes high quality content. I'd argue that we're already at the point where one could earn a fair amount of sats by contributing positively to the network.
The intricacies of network effects are a beautiful thing to watch unfold.
reply
0 sats \ 0 replies \ @TheBTCManual 20 Jul 2022
I don't see that happening there is only so big a market for content and like anything that is easy to reproduce the cost will go down in bitcoin terms. Sure the odd video or article could gain virality and net someone a healthy return like we see from traditional social media but I honestly think this content factory we have on the internet today is just a fiat cash grab and people will focus on more rewarding things under a bitcoin standard
reply
0 sats \ 0 replies \ @mikhael 20 Jul 2022
Maybe people in countries with incredibly weak currencies relative to the dollar. Where I live right now? They should have the option be 100 or even 1000 sats per bolt, 10 is nothing. And sometimes I get 1,2,3 - lol what am I going to do with that?
reply
0 sats \ 0 replies \ @chinwenwencha 19 Jul 2022
I calculated a minimum of 1.350.000 sats/month to make a living out of Bitcoin at today's prices (almost 500.000 sats when it was at ATH). It doesn't seem like much honestly...if I only was smart enough to create some good content xD
reply
0 sats \ 0 replies \ @02e6ff7f5a 19 Jul 2022
Yeah. Pretty cool time to be alive huh?
reply
0 sats \ 1 reply \ @selfish_gene 19 Jul 2022
сейчас гляем как это работает! дайа попробуем собрать на одну буханку хлеба! или самый обычный лаваш для обеда!
reply
24 sats \ 0 replies \ @EnormousPony OP 19 Jul 2022
I've no clue what you mean with this, even with a translation this doesn't make sense to me sorry
reply
0 sats \ 0 replies \ @linesgone 22 Jul 2022 freebie
Stacker reminds me of a modern reddit, from when reddit was just getting started. I miss those days for sure. But the lightning backbone here IS the future. Many types of content ownership and/or authoring options are key for what is next on the web. NFTs are one approach, but SN is one of a new breed.
I'm curious where this evolves too but so far I'm enjoying the beginning.