Oddbean new post about login | logout Bitcoin fixes the lobbyist / regulatory culture of spending and backdoor favors. That’s the target Twitter is really going after - GARM. IMO, NOSTR doesn’t fix that problem…one could argue that GARM is why Facebook/Instagram/LinkedIn are as powerful as they are … they control advertising content and reach.
Advertising is a profitable business. It's made these companies incredibly powerful by weaponizing our data and attention. We're tearing down that model too.
See, that’s where I tend to differ with some bitcoiners. This might not land on what you’re saying but I’ll still share… I think a lot of “profitable” media businesses on a fiat standard won’t be profitable on a bitcoin standard. Consumption won’t be as valuable. The media model developed for digital economy & streaming will implode under the weight of sound money. Effectively with a much higher discount rate (I.e. price of money), future consumption won’t be as valuable AT ALL as it is today. The concept of brand value will change dramatically from what it has been since the 70s. The focus will be how much is someone willing to pay UP FRONT for quality.
We need to align the incentives of relays with those of the consumers or we’ll have the same predatory models evolve here too. Consumers are accustomed to getting “free” services. The relays who can cater to that habit by monetizing their consumption without charging them directly will have an economic advantage. We can fix this, and I’m optimistic, but not sure how to do it.