One can argue that the way we implemented this on finclout it even simpler. Its as simple as receiving a share of the Stakepool revenues based on relative performance on the platform. Passive content income through real yield treasuries.

I have spent 10 minutes on your site an still don't get it.

Bravo for that. Already a good sign of a well running crypto thing.

And I'm still not sure how value is created if no one has to pay?!

Right now for me it feels like a soon imploding weird microbubble of investment Tipps

Shhh, if he actually explains what he does in plain english people might figure out that it's huge fucking grift.

One could view Proof of Stake (PoS) Systems as being similar to the Federal Reserve System.

In the latter, the central bank provides liquidity to the banking system. The banking system then provides financial services (working capital, managing deposits, etc) to companies within an economy. These companies can then use this capital / service to provide goods and services to the economy. The banking system is, in simplified terms, a margin business that borrows funds from the central banks and lends out further. Through this margin all costs have to be covered.

In the former this role is taken on by the Treasuries of the PoS (Eth, Cardano, etc). Stakepool operators take on the role of the banking system and Apps like finclout take on the role of a business in this ecosystem. Stakepool operators validate the chains, at a low energy overhead one might add, and thus provides services to the Central Treasury. For this service they receive a fee. This fee can be seen as being similar to the margin of the traditional banking system. Moreover, stakepool operator then can take on the role of distributing the liquidity they received from the treasury further into the economy of the block chain. Thereby providing liquidity to App Operators.

In theory this could provide an efficient means to monetize content. And this is what the finclout app is aimed to solve. Absolutely, it doesn't do that well yet.

Yet if you look into the consequences of Mandated Payments for content in Canada (https://www.michaelgeist.ca/2023/03/the-consequence-of-manda...) this solution could provide a better monetization mechanism.

A tertiary benefit is that there is no need for a ponzi-like investing scheme through such a method.

I understand post, Blockchain etc quite well.

I literally don't understand your product.

What it does, how it works and ylhow it makes money(=how long it stays afloat and therefore is trustworthy)

You can almost measure the decline in our civilization's reading ability when, on HN, when you say "I disbelieve X but it's too bad it's fake" and people respond as if you said "yay X".

It would appear that anything east of a subjunctive clause is unparseable to a good portion of the readership. Disappointing.

It was never an attempt.

No one cared about any artist.

My comment pointed out how ridiculous nft was from the beginning.

HN's readership has shifted. It has before too but generally returned to the mean. This latest shift which seemed to be in the last two years has been large enough that we did not return to that mean and have instead deviated greatly into the direction of reddit.

Yes, I've noticed this as well. It's the slashdot of 2023.

People reasonably took issue with your statement, "I do bemoan the failure of yet another attempt to provide artists with revenue," which implied that NFTs were ever an attempt to provide artists with revenue. They were not. This is not a reading comprehension issue except perhaps on your end.

Blacklists for stolen projects exist. Someone made an copy of OKBears after it launched and got banned from OpenSea. https://nftevening.com/not-okay-bears-nft-collection-deliste...

Programmable NFTs enforce royalty payments for resales.