pull down to refresh

Isn't SNs already a quasi shitcoin social media platform?
CCs now dominate its economy.

Sure if you are a net content consumer you need to buy CCs or directly spend sats into the SNs economy but there are plenty probably most SNs participants who seldom if ever spend any sats but rely entirely on CCs and sats zapped for their content and who extract profits via the sats some still zap into the SNs economy.

Since wallet status is now concealed by default the incentive to attach LN wallets is reduced and the decline into a more and more CC/shitcoin model seems to be already determined.
SNs has never achieved sufficient content consumers paying for content and has always relied on its founders subsidies- how much longer is that viable?

SNs was a good attempt but imo it appears to have failed- failed due to too many participants seeking to extract monetary value more than contribute monetary value.

There is now too little incentive for content consumers to attach wallets and pay and too many arsemilking content providers using sybil tactic to boost their content and extract what sats do still circulate.

There are less and less sats, and more and more CC shitcoin steadily debasing the SNs economy.

CCs are worse than shitcoin- they cannot even be easily converted to sats...they are inhouse shit tokens of no value outside the platform.

Maybe SNs does need to re start on a basis where you do need to attach wallets to participate and completely remove the use of CCs?

The way things are going its not sustainable.

104 sats \ 1 reply \ @028559d218 2h

You can't save the world from jail, dude.

reply

What do you mean? ?

Nelson Mandela kind of did.

reply

Nice one! I agree with you. Guess many of us are thinking ike that but we didn't found the moment to write it down like you did. Bravo!

reply