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Comment by withinboredom | Hacker News Reader

So, basically a blockchained-twitter-client with the hope of removing twitter at some point by swapping out the backing service? People will come for the free coins and nowhere to spend them, or will it cost coins to post or something?

I don't get it. But I don't get the point of most blockchain bs.

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> People will come for the free coins and nowhere to spend them, or will it cost coins to post or something?

That's where the 1B in buy-orders backing the coin is meant to come in, allowing people to exchange those coins for real currency.

That billion dollars isn't going to last very long when folks start piping GPT-3 into the system for free coins

Do the mechanics of the Skinner Box really matter? If GPT-3 generates interesting popular content and posting it is profitable because it gets retweets and reactions, is it any worse than the content that comes from real people?

So instead of trying to limit the number of bots on this new social network, we'll encourage them!

GPT-3 isn't free either.

But neither is the GPT-3 to verify if the GPT-3 is GPT-3.

That's not a lot of money for the number of users twitter has and the number of tweets that exist.

What if it was $20 billion? Maybe the idea is feasible if you go bigger? Still less than half of the current strategy of a hostile takeover.

The system isn’t immune to spam attacks.

Posting costs a variable amount of shitcoin (just like transaction fees on a blockchain).

okay and why am I not paying them in real currency to begin with if all I want to do is steal twitter users by paying them to come to my platform

Because you need a number-go-up coin to allow for rampant speculation and to build hype. Then everyone that joins thinks they’re getting millions instead of nothing.

"Blockchain, the internet, but worse"

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