Welcome to Episode 1 of The BeavChris and BArt-Head Show, a podcast for the Farcaster middle class.
Clips:
BeavChris: no lambo, not even a toyota prius for me! https://drakula.app/post/0ba57730-4f02-43fd-9409-2f7442e000e1
BArt-Head: Hey, if you value us https://drakula.app/post/d64dd451-ec64-4ab7-b7d3-c4ecf3cf3ba6
BeavChris: the Asian nod thing https://drakula.app/post/799eb70c-0a55-4fa6-9094-8745c6204ed7
BeavChris: Aren't we complicit? https://drakula.app/post/d5057746-1918-43d7-b894-8c96731f1906
BArt-Head's Bright Line Rule https://drakula.app/post/4bfce9af-8a29-4972-be26-f44194a708a4
Bonus clip: BArt-Head enjoys Drakula very much https://drakula.app/post/d727309f-e079-40ce-bb9f-62e4a9e80a16
Watch the episode on Zora, and Mint to collect.
Summary
Dive into the heart of crypto culture with the inaugural episode of The BeavChris and BArt-Head Show, a podcast tailored for the Farcaster middle class.
Join our dynamic duo as they navigate the rollercoaster world of cryptocurrency, grappling with the ethical dilemmas of tipping, the complexities of power dynamics in the digital art space, and the intricacies of community building on social networks.
With their lively banter and insightful observations, BeavChris and BArt-Head tackle pressing questions around value, art, and the essence of community in the crypto universe.
Whether you're a crypto veteran or a curious newcomer, this episode promises a thought-provoking journey through the evolving landscape of digital currency and online communities
Transcript
BeavChris
So thank you so much. We are now on the dot, actually live! Hi, BArt-Head!
BArt-Head
Good morning, BeavChris!
BeavChri
Who is totally not Art.
BArt-Head
Yes, I'm totally not artlu. Welcome everybody to our stream. Welcome to the BeavChris and BArt-Head Show.
Very quick intro. I'm BArt-Head. I get to speak first. And, as you can see, I'm clearly BArt-Head. I'm also @artlu on Farcaster. Welcome to our show, which is a podcast for the Farcaster middle class.
This is episode one, and please introduce yourself.
BeavChris
Hello, I am BeavChris. We're part of the Dynamic Duo. So, Art is the one, I mean BArt-Head, is the one who actually explains what's going on in Farcaster to me. I'm like, I've dabbled in crypto stuff before, but I'm still definitely new to the whole arena. So most of our conversation is based on this whole dynamic.
So every morning I wake up and I'm going, Oh my God, Art, what did you say? Oh, that's so controversial. It makes me so uncomfortable.
BArt-Head
And meanwhile, every evening I go to sleep thinking, I have to say this now.
So, how are you doing this morning, Christin, do you feel extremely uncomfortable about something?
BeavChris
Yeah, I do, I do! I hope that we can talk about it live on stream.
Because that's the best way to address discomfort.
But I think that's where you and I really get along. Because sometimes when I see things that don't feel right, it also keeps me up at night.
BArt-Head
Right. So let's jump into the first topic, which is that $DEGEN was trading at an all time high.
And Christin, not BeavChris, kept texting me messages. OMG, what do I do? And we were talking about the pump and our bags and what to do and different elements of it. And I said, I can't stop thinking about Lambos.
And we started to think about the influence of this pump, which is real, on different aspects of this ecosystem that we love and that we are deeply involved in.
Which led to this, I guess it was an observation from you, BeavChris, that some artists are collecting real value in the form of $DEGEN tips in return for generating more art. And I said, oh, that is grift. And I don't know if I came right to it, but I concluded, Wow, that is very uncomfortable for me, and it sat with me for, like, 24 hours, going, This. is. really. uncomfortable.
So let me just jump into the part that made me the most uncomfortable.
BeavChris
Wait, wait, wait. Before you do that, I want to say why it makes me uncomfortable on so many levels, right?
BArt-Head
Sure.
BeavChris
First of all, as you know, I didn't know I had any $DEGEN until very, very, very, very recently. So I truly was completely ignorant and now I am, ignorant and also going, Aaah!
BArt-Head
Yeah, let's start with that!
BeavChris
So, when we brought this topic up, I wasn't comfortable because I thought, oh no, if we cause FUD, which is a term I learned from CoffeeZilla, then that's not good because that will cause the price to go down.
And that will be no Lambo, not even a Toyota Prius for me!
So then I was like, Oh, is it good to uncover these things? Or is it more clean? Because the sooner we resolve issues, the more legacy this currency can have.
BArt-Head
That's right. So let's dig into that a little bit. You did not know that you had some $DEGEN bags until very recently, and you were seeing that many other people on Farcaster were getting rich, and you did not know that you were also participating. So there was a long period of Farcaster experience for you of looking from the outside at people getting rich.
For me, I knew $DEGEN was happening from the very beginning. I actually invested in $POINTS, and $FARTS, and watched some money disappear up in smoke. And then I said, look, $DEGEN, I'm going to take it easy, and not go crazy. And then, as soon as the airdrop happened, I claimed it, and then I didn't touch it for a long time, and I watched it grow into a very, very nice car.
And then, I watched it disappear.
BeavChris
(laughing)
BArt-Head
And I thought, oh my goodness, it disappeared! And $DEGEN started to trade, it hit an all time high before of something like five cents. Or am I even mixing it? It might have been half, sorry, half a cent.
BeavChris
Half a cent, half a cent!
BArt-Head
Point five, point five cent!
BeavChris
Huh?
BArt-Head
And it fell back down to like, point 2 cents. And at that point, I bought more, right before Drakula. And when Drakula was announced, I bought more.
BeavChris
Mhm.
BArt-Head
And I watched it pump. And then I sold almost all of it.
BeavChris
Mhm.
BArt-Head
When, when I started, after I started playing with Drakula.
BeavChris
Mhm.
BArt-Head
And thinking, Ooh, this is like just a, just full of scams,
BeavChris
Drakula, right? Specifically,
BArt-Head
Yes, specifically Dracula, which to me was the promise of $DEGEN to produce an ecosystem of really great values-aligned projects. So I sold everything, and then it popped! And Christin, on the other hand, was holding a diamond hand.
BeavChris
So, to doxx you, you are a professional trader, actually, right?
BArt-Head
In the past, I have been a professional trader, and currently, I make a living by trading, yes.
BeavChris
Right. Whereas, meanwhile, I was diamond hands, because I didn't even know I had any!
BArt-Head
Right! Which is, which is like the, the meme of saying, you know, I'm like right in the middle, ooh, look at valuations, capture the alpha,
BeavChris
heh,
BArt-Head
be in all the TG chat groups, um, do my due diligence, Understand what is going on with these new projects, dig into them deeply, try things out, send $DEGEN, get it back, understand the key management, understand the accounts. That's right in the middle of the curve for TradFi traders.
And then on one side of that meme is someone who doesn't even know they have any!
BeavChris
I'm Grug, the Grug guy.
BArt-Head
Greg. And then the Giga Chad is like, hey, just hold. Diamond hands.
So that Giga Chad. We know some of these people in our ecosystem who have been very public about it, they're never going to sell. You can see it.
They've moved all their $DEGEN into Gnosis safes and encouraged everyone to watch their bags grow to half a million dollars. We know some of these people and they're like, Hey, I have half a million dollars. And I did not spend any time playing with Drakula. I did not spend any time understanding any of the tech.
I spent zero time digging through the $DEGEN allocation algo, and I spent zero time worrying about taxes. And guess what? I've got so much more than you.
And for me, I have less than you now, Christin, because I bought in at a higher point, and then yesterday I told you, Oh, at, 1. 8 cents. I sold a third of my holdings and I've casted about that today.
Like I'm still actively trading and figuring out all of the little details.
BeavChris
Right.
BArt-Head
Whereas I think you have speed run All the Feelings.
BeavChris
I was like, no wonder! No wonder @m00npapi posts about these things.
I didn't, I honestly all of you posting about $DEGEN this whole time, I just like skimmed it and I didn't understand what you were talking about until literally this week.
So, um, sorry for being very late to the party.
But again, like, that's why this whole tipping situation is really interesting, right? So can you tell us a little bit more about what kept you up at night?
BArt-Head
Yeah! so there's a new meta, which is that people are offering large amounts of tips. And sometimes over multiple days
BeavChris
Mm hmm.
BArt-Head
To obtain significant pieces of artwork via NFTs.
BeavChris
Right. And when you first told me that, I was like, isn't that so nice? Like people are using magical internet money and giving it to artists who deserve it.
BArt-Head
Right. That is really, really nice. It is a really, really nice thing.
And so the way I noticed is I have a couple of FarCats and I want to buy more. And I saw the Farcats floor had popped and I thought, Oh, I missed it. And then I saw, oh! @0xen is selling Farcats for tips.
BeavChris
Mm hmm.
BArt-Head
And so I thought, hmm, I wonder how much an artist can raise if they sell for tips, as opposed to selling for real ETH, real $DEGEN, real USDC, anything that's an actual thing.
And I realized there is a game that is often played in the art world, about valuations. So, when you have an exchange, the buyer specifies the price, and the seller specifies the price, and if they agree, that is the price. And I realize that in the art world, very very expensive pieces, they trade hands in very private transactions, and it gets reported, (in crypto, it gets reported on the blockchain, somewhat, right? that things, things move at certain prices).
And so I thought, well, what if @0xen sold a Farcat for 3x the floor? That's good for my bags. That's good for @0xen. That's great for the person who is purchasing the NFT. They have an NFT, which they provably transferred three times the value for. In their wallet. It's worth that much.
Now, where did this value come from? Well, it came from the community.
And that's the part where I started to feel very, very uncomfortable in my stomach. Because there's classic things in economics about the price signal, price discrimination, the value of scarcity, the value of skin in the game, and principal-agent problems.
So, if you work for a foundation or a museum, and your job is to purchase pieces for the foundation or museum, and you are found to have paid inflated values, that's a bad look. If you work for a government that has resources to allocate, let's say, oil reserves.
BeavChris
Mm hmm.
BArt-Head
And you sell these oil reserves to your buddy at an inflated price.
BeavChris
Mm hmm.
BArt-Head
That is a bad look. Right? And it's very hard to police. And we have invented crypto, in part, to enforce sound money and to enforce transparency and discoverability. So, those are the parts that are very disturbing to me. In that, it is the artist's interest to place a very high value on how much they want to sell their artwork for in $DEGEN tips.
They can say, look, I would sell this for 0.2, for 0.5 ETH in the open market, but because I'm getting $DEGEN tips, you know, they're risky. They're, um, they're, their ...there should be discount factors. So I'm going to demand 1 ETH in $DEGEN tips for it. And then for the buyer, he's like, I don't have 1 ETH, Jesus! But I'm gonna get an NFT.
Guess what? The community has graciously "gifted me" with one ETH over the next month. So, I'm gonna redirect that to this artist, and I'm gonna end up with an NFT. I'm not gonna end up with one ETH, but I'm gonna end up with an NFT. And so, it's very easy for the buyer to convince himself that, Hey, like, something good is happening out of this.
It's very easy for the artist to convince themselves that, Wow, something is good, is coming out of this. It's very easy for me as a bag holder of both $DEGEN and FarCats to say, Look, it's great that $DEGEN is being used. It is great that FarCats have, that someone is paying this much value for this asset.
BeavChris
Mm hmm.
BArt-Head
And who is it bad for? Who does this money belong to? Well, it actually belongs to all of us. It's been delegated to the community to further certain values and to express our values, but it has been delegated to us on a provisional basis and by, um.
And so I was trying really hard to think of my bright line rule, and my bright line rule is, if you spend the community's money, and you end up with things that are privately held,
BeavChris
Mm hmm.
BArt-Head
That to me is corruption, that to me is grift, that to me puts the soundness of this community asset, $DEGEN, at risk, because what could have been exchanged for 0.5 ETH gets exchanged for 1 ETH. There's half an ETH of slippage, which is paid for by everybody else.
And this is a classic principal agent or tragedy of the commons, there's all kinds of names in economics for issues like this.
And I'm going to pause now because you agree with me because I'm very good at talking.
BeavChris
Well, you're assuming I agree with. I'm doing the Asian nod thing where I look like I'm agreeing with you, but I'm actually backlogging all the arguments against it.
Not from me, but from smarter people that have already responded to you on Farcaster!
BArt-Head
The great thing about Farcaster is that there are very smart people. And, people with skin in the game, good points, etc. So, yeah, I'll pause there just to get your take on it and to have someone else other than myself talking.
BeavChris
Yeah, so, you can quickly scan the viewer comments so far. And I'm going to try to summarize what @proxystudio.eth has argued against. Sorry if I'm misinterpreting what you're saying.
My net impression is that we are talking about risk transference her. You know, instead of an artist getting real $DEGEN, you're getting tipped. So you're getting the the risk of the difference. Once you're actually paid out.
However, it seems like net net, there is more creation being fostered here, especially for digital art, where there is much more scalability. Of course, I don't want to say it's easy to make this kind of art as well.
But it's still something that can be offered in the greater supply.
BArt-Head
Yeah, so absolutely. I agree that we end up with more art in the world because of this mechanic, and, I think I would argue that art that could not be sold before for $0.50 that is able to be sold now for 50 USD cents of value, I don't particularly have a strong feeling about that, even at scale.
Let's say there's, there's like 1 percent of the TVL of $DEGEN being spent to produce 50 cent art. I don't have a very strong feeling about that.
What my strong feeling about is that Six Capital Management will finish airdrop season two with a portfolio of artwork owned entirely by one wallet.
BeavChris
Oh,
BArt-Head
paid entirely by the community.
BeavChris
So it's like that this mechanism allows earlier cashing out, which tilts the balance in one sense.
BArt-Head
Yes that's one thing. That the people who justify filling their pockets will do so. The second concern is that a certain amount of $DEGEN.
BeavChris
Mm hmm.
BArt-Head
Will be transferred at the wrong price.
BeavChris
Mm hmm.
BArt-Head
And I can see that all of the incentives are aligned for that price to be as high as possible.
BeavChris
Mm hmm.
BArt-Head
Part of why I couldn't sleep was I was thinking, Am I NGMI? Am I not going to make it? Because isn't this the entire crypto bull game? To find the people who can come up with narratives and new paradigms of economic transaction value to justify, All valuations spiraling up and up because, well, you know, it's all made up anyway.
So who cares if it's a million $DEGEN or 500,000 $DEGEN, it's all made up.
And in the bull, these people are the gods. They get all the rewards.
BeavChris
Mm hmm.
BArt-Head
And so I was
BeavChris
Aren't we complicit because we are early?
BArt-Head
That's right! So here's my, and I think we're spending way too much time on this, but
BeavChris
It's a very complicated topic!
BArt-Head
If I'm a kid in Africa and I see this happening all the time, not with crypto, but with my country's resources. I grow up and I have to decide, Do I seek the position of power, where I redistribute a pie, which may not be growing, but at least more of it's coming into my family's pockets and feeding my family.
BeavChris
Mm hmm.
BArt-Head
Or, do I go and seek to lead, to grow the country's pie? And that applies specifically to children in Africa, where there are very clear examples of redistribution mechanisms. It also applies to people in the United States, people in Europe.
BeavChris
Yeah.
BArt-Head
Do we play these redistribution games or do we play these growth acceleration games?
And do we confuse ourselves that grift is a cost of growth, right?
And you know, I think yes, even in the US we accept a certain amount of corruption because the price to stamp it out is perhaps unjust, perhaps too heavy. But we do not want there to be too much corruption. Because we see many, many examples that having too much corruption causes the whole thing to shrink.
BeavChris
Right. And I feel like even the word choice of grift and corruption. Because there is no law here.
BArt-Head
That's right.
BeavChris
These are new mechanisms that are being discovered and used. And we're just like bringing them out into the open so that people can be aware and then decide do you think this is fair or not. I think that, that's the thing that we want to
BArt-Head
Grift and corruption are a pattern, they're not legal terms, they're a pattern to describe transfer of value or extraction of value,
BeavChris
Right. Right.
BArt-Head
Privatization of public value.
BeavChris
Yes, yes.
BArt-Head
As I said in my cast: In a DAO, if this happened, you would call it grift. In a government, you would call it corruption.
Now, in a decentralized social network with a novel tipping mechanism, some people may twist their minds to call it the new mind bending paradigm of bending value over time and space.
BeavChris
Mm hmm.
BArt-Head
And those people will end up with more assets in their wallets than people like myself who will call it grift.
BeavChris
And as someone who's lived through the scenarios described in the Big Short movie, I guess you've just seen variations of these mechanisms many times.
But yeah, thank you for diving deep into this topic.
Let's talk about something that's a little bit hidden. I had no idea it was even happening.
BArt-Head
Okay, so.
BeavChris
Yeah, point out that, Japanese community feeling left out.
BArt-Head
Yeah, are you talking about the Power Badges that were announced last week?
BeavChris
Oh, I was thinking about the Japanese community feeling left out, but we can go on to power badges first.
BArt-Head
Right, right. So it's related.
BeavChris
Oh!
BArt-Head
So, Farcaster rolled out Power Badges, which replaces the Active Badge, which was previously there. It was a simple algorithm. You have to have 400 followers. You have to have a certain more number of reactions than casts to kind of disincentivize spam. But you also have to have 400 followers.
Many of us who have been here for a long time, those of us who are the Faristocracy, as well as those of us who are the Farcaster middle class, we had a 100 follower threshold, but many of the newer users, they need to get 400 users.
So, Dan and Varun realized that this was unsustainable with network growth. If you make it 800, that really makes it hard for new users to come in and engage. Even 400 seemed like it was too much. It was an experiment and that's fine. So, to replace the active badge algo, which was public and transparent, they created the power badge, which is based on interactions with existing power users.
So it's a way to have people loosely, but publicly, attest to the quality and interest of other people on the network.
And to me, one of the unintended consequences is that there are already little pockets or islands of communities on Farcaster that are mostly islands, specifically, non-English language communities.
They've developed their own communities already. And their own relationships, and they wish for the algo not to punish them.
BeavChris
Mmmm.
BArt-Head
Even amongst themselves. So they noticed that none of them, or very, very few of them, especially the ones that are, let's say, 100-percent Japanese speaking, had connections with the power user community existing on Farcaster.
BeavChris
Ooooh.
BArt-Head
So they got, let's say, one power user badge out of every 500 users.
BeavChris
Mm hmm.
BArt-Head
Whereas the visible part of the community, everyone gets a power badge. And so that was something that people, I think rightfully pointed out and raised. Hey, if you value us, maybe, find a way to represent that with the mechanism design and choices.
BeavChris
Mm-Hmm.
BArt-Head
So I wanted to represent that side of the feeling left out.
BeavChris
Mm hmm.
BArt-Head
Um. Do you thoughts about that?
BeavChris
What is the benefit of the power? So I feel like that's also unclear to me because right now there is no reward for the active badge or the power badge.
BArt-Head
Mm-hmm,
BeavChris
so is it like a status thing? Is it like, oh, it might turn out to reward you algorithmically by increasing visibility of your cast, etc. in the future.
BArt-Head
Right. I think, well, first, Farcaster is a Status as a Service product, so the main thing that Farcaster is providing is status. So anything that signifies status. Or has the blessing of status is something that people will want to obtain. And withholding it from people is the same as saying you have no status. Fairly or not. That's how it can be perceived.
BeavChris
Right.
BArt-Head
I also think it's obvious that the power user badge is being rolled out. Its utility and interactions are being rolled out in phases, so, power user badges maybe have nothing useful now, but they will.
BeavChris
Mm-Hmm. .
BArt-Head
And they're building, for the first time, they built an API as opposed to publishing an algo on a Notion doc, they built an API.
BeavChris
Oh, right, so clients.
BArt-Head
Developers can know. Frames can check to see if you are a power user.
BeavChris
Mmmm.
BArt-Head
You know, like a trivial check.
BeavChris
Mm-Hmm.
BArt-Head
So a frame that's maybe delivering value to users can trivially decide, Hey, it's really hard for me as a developer to figure out who deserves this value. But guess what? Warpcast in their magnificence have made this very useful, public, transparent, and accepted...
BeavChris
So I didn't know this because, remember when @fun made this very rudimentary algorithm that was based on literally like a number of connections with, uh, 65 specific users.
I jumped in and I was like, Oh, Dude. And also he phrased it in a hilariously insulting way of like, excellent versus poor reputation, and I even, I couldn't help myself and said something, right?
BArt-Head
Right, you felt it! Yes!
BeavChris
So yeah, and then, okay, well, of course, like, you know, I really admire Fun because he builds super fast and definitely, in a way, it surfaced the wound by being like, hey, maybe this is a very unfair way of doing it.
However, I had no idea that the power badge had this component being explicitly included in the algorithm of how they calculate it too.
BArt-Head
So it's the likes and engagements from power users.
BeavChris
Right, which is actually, in a way, the OGs or something? We, do we know who it is?
BArt-Head
Let's just say it is a subset of the whole community.
And who it is doesn't exactly matter. But clearly, you can look through the list and kind of make your mental patterns about where the edges lie.
BeavChris
Right.
BArt-Head
It is skewed when you look at it, and, so, but whatever it is, it is a group that has been given higher status within the community. A status which can be used to bestow status on other people.
So there is a mechanism to circulate it, and, I'll express one feeling that maybe People who are not me.
BeavChris
Mm-Hmm.
BArt-Head
have had, which is so far in Farcaster, or on Warpcast, it has been this hard to grow my status.
BeavChris
Mm-Hmm.
BArt-Head
with the pre-existing setup. And this new change may make it harder, may make it worse, but I feel it does not address my difficulty.
So I think people see the new Power Badge algo, and they feel it's unjust for a centralized group to make a decision.
I do want to highlight what I loved. Was just like, in the middle of a random conversation, Vitalik called it, Oh, you mean the Poser badges?
BeavChris
(laughs) I did not see that. Hilarious.
BArt-Head
He was talking about super versus meta versus hyper, probably talking about some other L2 chains and their naming. But, he was like, Oh yeah, the Poser badges.
BeavChris
Oooooh.
BArt-Head
I loved that he took that very pointed jab to say, and I think his point, which I resonate very much is, some other person cannot give you value.
BeavChris
Mm-hmm.
BArt-Head
You must earn, demand, and value yourself in order to preserve your value and communicate your value through your own actions, through your own abilities, through your own initiative. It doesn't depend on some other team.
BeavChris
So, if we were to propose an alternative system, which, as you know, it is a very, very hard problem to solve.
Like, my understanding is that, Twitter pre Elon and all that, used to be about pure given engagement, right? It's about your ratio of likes. And ideally, it would even account for people who don't post very much, but are really high quality should be more rewarded, etc. Do you think?
However, that mechanism can be easily gamed through bots liking each other's stuff. So, what do you propose as an alternative when it seems like such an intractable problem to solve?
BArt-Head
For now. I think that this is my, this has always been my view. I think we are so early that we need to take many shots on goal.
BeavChris
Mm-hmmm.
BArt-Head
So that's kind of a non answer, but we need to take many shots on goal and we need to take the kinds of shots that build our decentralization muscles and build our justice muscles.
BeavChris
Mm hmm.
BArt-Head
As opposed to the kinds that lean on, for example, Dan's curation and taste.
BeavChris
Mm hmm.
BArt-Head
Or, Dan's ability to ban people. Like when we lean on those, I dislike it. I think when we lean on the community being able to express its values,
BeavChris
Mm hmm.
BArt-Head
I prefer that.
BeavChris
Mm hmm.
BArt-Head
So to me, the Power Badge, to me, the power badge is better than the active badge.
And I am eager to see how it's used. I will strongly disagree with certain uses and I will like certain other ones and I will try my best to engage with the versions that I like and my best not to engage with the versions that I don't like or not to benefit from them.
BeavChris
Right. And I feel like, all of us have at various points given feedback to the Merkle team.
And like, what I've noticed is that as long as the argument is presented in a way that promotes DAU, they will listen. And I think like that's the art of giving feedback to the team that I'm seeing that not everyone adheres to.
It's that like really they're not kidding They only are focusing on DAU. Which is great because it's like if it doesn't grow the party dies.
BArt-Head
That's right.
BeavChris
So that is like survival number one. And sometimes a lot of preferences may not necessarily go DAU.
BArt-Head
Right. Let's come back to this, because speaking of party dying, let's do one ad read.
BeavChris
Oh, right. And I think we want to address some of our viewers questions and comments as well in the chat.
BArt-Head
Let's leave them waiting, again.
BeavChris
Okay, they will be forced to sit through this ad read.
BArt-Head
Okay, I think it's your turn, BeavChris.
BeavChris
Oh, okay. All right. I don't see the ad read for Farchiver written up. Can you read yours, your old ad?
BArt-Head
Sure!
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Tell them BeavChris and BArt-Head sent you.
BeavChris
So, I have played around with Farchiver a little bit, and I really love how it's all packaged up in a neat Markdown file that you can use Obsidian to browse. You can play around with AI even, to discover some new content. It's actually a super useful thing that totally not BArt-Head has built.
So, and then for me, I have a few interesting mints on Zora based on my standup comedy. So please feel free to check it out if you just watch it. That's great, too. And it's also available as a mint.
And actually, I just want to quickly drop that we will put this episode as a mint as well. And for us, it is the best way to understand whether we are giving you value.
So please support us by minting the episode and actually, also reach out and let us know how else you would like to show support. Because we have experimented with putting clips on Drakula and I have mixed feelings about Drakula. I think, BArt-Head as well. So we're definitely open to new mechanisms to distribute our content and to get more viewership.
BArt-Head
Thank you. And also this ad read space will continue to be our own shills until somebody wants to pay to shut us up. We are open to be shut up.
BeavChris
Yes. You can also pay to shut us up. We will take ... $DEGEN tips?
BArt-Head
Yeah. (laughing) Send us $DEGEN tips, please.
BeavChris
Yes. Yeah, so, let's check out the comments.
BArt-Head
Let's check the comments in the chat.
BeavChris
(laughing) Fufu. Yes. Player. You can pay to shut off all future episodes?
BArt-Head
Yeah. Sam has some N-S-F-W comments, which are very, very funny.
BeavChris
Yes. We're trying to maybe in the future put this on Spotify without the NSFW tag so we can't read it, but we acknowledge it as hilarious.
So Proxy Studio said that approaching this problem from tipping behavior is simply ineffective because $DEGEN is not a DAO. It is a privatization of public goods engagement. What are your thoughts on that?
BArt-Head
I think I come from the place of not wanting the value to collapse. I think that distribution of wealth is different from creation of wealth. And tipping for art is both. Like, I can see it is both. And if it is to happen, I want it to happen at fair prices, not inflated valuations, because that's paid for by the community.
Yeah, that's my basic view. I think one other observation I want to make is that the pump for the growth in valuation of the ecosystem is real. It changes behavior. When there is $5 to be grabbed, maybe good thinking citizens will not just leave it there. When there is 5,000 dollars to be grabbed, I acknowledge that it is way easier to twist your mind into edge cases to justify that.
So it's a really hard problem. I don't think there is a satisfactory solution without trade offs. Just like, you know, everything that we build has trade offs. I think it's a hard problem. I wanted to acknowledge that this is a growing pain of our enterprise, which, you know, has grown in a very clear mark to market way, very, very suddenly and visibly.
BeavChris
Yeah. Well, thank you, so much. I think we're at about time here.
BArt-Head
Thank you everybody for joining us.
BeavChris
Yeah. So actually,
BArt-Head
I feel like I spoke too much. And so episode two will have less BArt-Head speaking, more BeavChris comedy.
BeavChris
I was not informed of this before the show.
But yeah, I think like for us, it's very funny, right? Because I want to be like, in the next episode, we're going to talk about something, but because we actually, you know, as well, all of us are in the same boat, like it's very hard to know what's going to happen next? But we're, I'm sure we will find something that's a little bit hidden that has to do with like power and wealth distribution and all the exciting economical topics that affect our lives.
And so, we look forward to seeing you again, maybe in a week? Is that the cadence we're going for?
BArt-Head
Yeah, we'll go for a week. Please follow us on @bc-and-bh-show. That's The BeavChris and BArt-Head Show on Farcaster. We have a Paragraph blog. We have a Drakula account, which, I see Fufu does not enjoy. But BeavChris does not enjoy, and I enjoy very much. And let's see what else.
We are trying to be native on all Farcaster native platforms. So let's say, the account, the Zora mint, the paragraph blog, the Drakula account. Those are all, and our group chat on Warcast. Which you can hit up either of us or the official account for an invite.
These are all good ways to stay connected. Plus, Luma Calendar invites. So we are...
BeavChris
That one's not very native.
Yeah, for sure!
I think there's some exciting projects where people are setting up media companies. I'm like, I can see why now it is very complicated to DIY all of this by yourself.
And we actually hope to streamline the process so that anyone who wants to start a show, it's a little bit easier because we definitely are learning the hard way ourselves and we want to pave a path for others as well.
Cause we want other people to be up here talking.
BArt-Head
Shout out to the chat. Thank you for your time. We appreciate it greatly.
BeavChris
Yes. Thank you so much. All right. We'll see you around on the internet.
Bye.
BArt-Head
Bye bye.
