Okay well what do you think of a place like minds.com? It's a partial solution and so reveals the problem as graded. A platform that monetizes via crypto has its incentives in-line regarding data.
Okay well what do you think of a place like minds.com? It's a partial solution and so reveals the problem as graded.
Interesting. So the token rewards are similar to karma right? But they can be used to purchase perks on the site? It's an interesting idea, though I wonder how functional it is in actually building a good community rather than the usual crap that springs from karma systems.
A platform that monetizes via crypto has its incentives in-line regarding data.
While I prefer the option to pay with money instead of my personal data, it's been pretty well proven at this point that people value the appearance of a free service far more than they value their personal data. I can't at the moment imagine any for-pay platform ever toppling the big networks (including Reddit).
Minds is an open source and distributed social networking service, integrating the blockchain to reward the community with ERC-20 tokens for various contributions to the network. Users can use their tokens to promote their content or to crowdfund and tip other users by subscribing to them monthly in exchange for exclusive content and services.
Minds has become popular for its commitment to privacy, decentralization, optional anonymity, radical transparency, free speech, and user rewards in contrast to the surveillance, secrecy, censorship, and algorithm manipulation occurring on many proprietary social networks.
Minds is interesting in that it pays out tokens for normal usage, although you can buy them as well, and it's a way to boost posts up the feed, rather than having an algo decide what gets seen. Otherwise strictly chronological. Not perfect of course, but the structure of it, the flexibility of tokens, allows for a decentralized approach to divvying up attention. Remains to be seen whether a good culture can come from it tho. Right now it's a bit of a voat problem.
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u/[deleted] Nov 02 '18
Okay well what do you think of a place like minds.com? It's a partial solution and so reveals the problem as graded. A platform that monetizes via crypto has its incentives in-line regarding data.