|
|
|
|
|
|
by ninepoints
1609 days ago
|
|
|
> It is quite normal to reward the first movers to your platform (PayPal even gave away free money to grow their user base) The cognitive dissonance here is astounding. Surely you can see how the analogy isn't even remotely 1-1. |
|
|
ELON MUSK: Yeah. Well, we started off first by offering people $20 if they opened an account. And $20 if they referred anyone. And then we dropped it to $10. And we dropped it to $5. As the network got bigger and bigger, the value of the network itself exceeded any sort of carrot that we could offer.
Helium is trying the same thing (only decentralized) with the proof of coverage algorithm and rewards (which are diminishing by a halving process every two and a half years I think) so that the network can sustain itself. Please let me know why the cognitive dissonance is astounding because their proof of coverage hotspot rewards look a bit more advanced to the growth strategy PayPal used and they hope the network will be sustained by data transfer only when the rewards are not given anymore. (https://cdn.codetober.com/wp-content/uploads/2021/05/1111471...)