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Interesting comments on HackerNews on Witcoin ... (the earliest attempt at a bitcoin-enabled "Stacker.News"):
Unfortunately this model doesn't seem to work. If you look at what's getting votes it's things like pictures of girls and kittens.
I think the problem here is that the introduction of payment changes the psychology from one of sharing information to one of maximizing income (gift Vs capital). In the latter mode of operation the quality of the information is a secondary concern.
Hopefully the small amounts we are dealing with makes it less worthwhile for spammers as well as not seem like a purely profit driven incentive. All things in moderation as they say.
https://news.ycombinator.com/item?id=2386600 <-- Post by the cofounder / sole investor
at the current Bitcoin exchange rate [1] a typical post/comment/vote on witcoin.com costs USD 0.079
each category [sub] has its own [fee required to post] prices.
https://news.ycombinator.com/item?id=2386392 <-- Post by the cofounder / sole developer
These are fantastic. Thanks for surfacing them!
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Funny how SN is so similar to that first crack at this taken more than a decade ago.
So the Jobs sub that you were referring to in the SN Live video .... that's the same thing. Kind of like a different sub, but with a higher fee for posts, right?
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Yeah it’s eerily similar.
Jobs wouldn’t just have a higher cost, they’d be ranked by the cost and the price would be set like an eBay auction.
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I think the takeaway is: SN needs more pics of girls and kittens!
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