shubox

Adding tokens isn't just about money -- it provides a lot of features that simple money doesn't.

For example, each token may have voting power, allowing users (and more so power users) to have a say in the decision making of the product. Holding tokens (versus selling them) could also come with extra VIP privileges (similar to a rewards system). The point is to reward users for providing content, not just in money but also a say in the platform.

I agree with you that people will create content for free. But I think there is still a massive audience that could provide great content thats left out on the sidelines because there is no other motivation.

Why is youtube so much bigger than reddit? Youtube is literally an ecosystem -- where successful youtuber's have set up great partnerships outside of youtube due to their content. Individuals have built a career on youtube, something not possible on a free model like reddit.

"Partly this is not good - lots of content on YouTube for example is kind of cookie cutter attention getting spam type stuff. --> there may be ways to combat this, if the algo deciding how to distribute MU tokens is efficient. But if not, and this is the trade-off in building a massive community like Youtube that provides insane amount of knowledge to the world, then is worth it (imo).

Yes, fair point but there are limitations.

1. That license comes from a centralized authority. This can (and will change) in the future. Licensing 50 years ago is radically different from today and licensing 50 years in the future will be radically different from today.

2. The fact that there is a license means there are some terms of service / restrictions -- otherwise why even have a license?

3. I'm not sure how the often the data dumps would occur but if they are not as real-time as possible that creates a flaw area (data can be changed). What happens if stackoverflow, goes back and changes/modifies some user data from 2 years ago Sure, when we reconcile old data dumps with new data dumps there will be a discrepancy, but who will be doing these checks all the time? Blockhain has nodes which secure the system so all data matches.

Why use something that comes with barriers when there is a better solution -- true decentralization.

And apart from data access, there is power in holding a part of the project itself -- the tokens that provide governance. You can be a day1 stackoverflow user and post every single day since then and yet have no say in the direction or decisions of its future. Why not truly decentralize the system and let the participants in the network also decide the direction of the product (including the original team as well).

Finally, there is a lot of transparency when it comes to using blockchain (contrary to popular belief). If the founder decides to move his tokens -- everyone can see it in real-time as all token movement is transparent on the blockchain, along with other benefits.

Overall, blockchain and decentralization brings more transparency, efficiency (but not always), and fairness.

The last 100 years has been an insane bull market for the middle man. From grocery stores (middleman between producer of food to consumer of foods), to Uber (middle man between driver and passenger), to Youtube (middleman on video content), to even storing money (banks). And they take a massive cut for providing that service, despite most of the value coming from the participants. Prior to this, everything was direct -- people went directly to the farmer, or driver, or held gold on their own. I believe we will head back in this direction, where the the "middleman" will become a decentralized entity and the "cut" will be passed right back to the participants.

yes. the value is in the blockchain and being able to store data (content) on a database that anyone can access. This way the data is owned by the content creators (and public), not the platform.

If reddit or any other content-based platform goes down today, all of that data is lost which is very valuable. If Musing goes down, the content is forever stored on the blockchain and any other application can come and build on that data. That is the value-add. In addition, no API restrictions or paid API services to restrict applications to build on musing data.

The tokens distributed per post are determined/validated by the community (through upvotes), thereby incentivizing good content. Tokens also may be used for governance (voting), which would further decentralize the platform. Essentially, the people that participate the most in the platform (through providing valuable content), have the most say (through voting power) in future decisions. This is the value-add in decentralization, along with many other benefits of holding tokens