Civil’s tokenomics has left its journalists wondering where their salary is
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Re: Civil’s tokenomics has left its journalists wondering where their salary is
#2I read the Civil white paper linked from the article hoping to see a description of a new business model for journalists and publishers but only found how they will use CVL tokens to vote on who is in the whitelist.
Can someone please explain how/why readers would pay for the content? That's the important part, isn't it?
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#3A far bigger story would be an ICO-backed company that did not leave all their backers wondering where their money is.
Aside from the startups selling tools and services to the crypto ecosystem itself, does anyone know of an ICO-backed project that has turned into a successful company?
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#4A far bigger story would be an ICO-backed company that did not leave all their backers wondering where their money is. Aside from the startups selling tools and services to the crypto ecosystem itself, does anyone know of an ICO-backed project that has turned into a successful company?
You say that as if the projects are all run by greedy grubby fraudsters. While that is often the case, there are plenty out there who are working day and night on a bare bones income, to keep their projects alive through the market crash.
Sometimes, that involves pivoting from a head-in-the-clouds decentralized pipe dream in favor of a viable business, even with customers from outside the industry.
Yes, even they are capable of that. Astonishing!
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#5A far bigger story would be an ICO-backed company that did not leave all their backers wondering where their money is. Aside from the startups selling tools and services to the crypto ecosystem itself, does anyone know of an ICO-backed project that has turned into a successful company?
ETH itself, OMG, QTUM, BAT, Augur, etc. Although "successful" is a bit difficult to determine. Did these projects ship? Yes. Will they be successful in the long run? Who knows? That's like picking winners in startup land...there's going to be a lot of strikeouts and a few home runs.
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#6I read the Civil white paper linked from the article hoping to see a description of a new business model for journalists and publishers but only found how they will use CVL tokens to vote on who is in the whitelist. Can someone please explain how/why readers would pay for the content? That's the important part, isn't it?
FWIW, I still have close to no idea what DLT/Crypto/Decentralization/etc. even is, or rather is for. Assuming the tech actually has wings we won't really understand the how and why until certain use cases come to dominate. Even then, it can be difficult. After Western Union was founded (19th century), people would walk into WU offices to send money over the telegraph line and say things like, "Where can I see the little man who runs along the wire carrying the money?" Having said that, here's my explanation:
How? Readers can pay newsrooms for content using a debit/credit card or purchasing and sending CVL to the newsroom.
Why? Because they like the pieces coming out of a set of newsrooms and want access to that type of content.
Effectively, journalists end up running their own newspaper, but that newspaper is a subsidiary of a parent company that is hands-off for content but not for governance (which just means it's not totally hands-off for content). This newspaper would compete against other subsidiaries of the parent, and would have a certain percentage vote on what other subsidaries exist. Moreover, journalists would often be paid by selling their stock options in the parent.
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Obviously, the hypothesis here is that such a direct connection between journalist and reader will lead to higher-quality content then can be found at the MSM rags. I'm agnostic about whether that is the case.
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#7A far bigger story would be an ICO-backed company that did not leave all their backers wondering where their money is. Aside from the startups selling tools and services to the crypto ecosystem itself, does anyone know of an ICO-backed project that has turned into a successful company?
ETH itself, OMG, QTUM, BAT, Augur, etc. Although "successful" is a bit difficult to determine. Did these projects ship? Yes. Will they be successful in the long run? Who knows? That's like picking winners in startup land...there's going to be a lot of strikeouts and a few home runs.
ETH is used only within the blockchain ecosystem. Its greatest utility has been enabling ICOs. OMG and BAT are both interesting proof of concepts, but they are not really operating at any kind of scale. I don't see how they can transition to a stable and growing company. I love the idea of Augur, but they have something like 50 daily users, and that's not a sustainable business.
Perhaps my original comment was a bit too snarky, but my point was after a few years of hype about how the blockchain was going to revolutionize everything, and billions of dollars of investment, we should have at least a few real-world use cases. Something beyond the PoC stage.
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#8I read the Civil white paper linked from the article hoping to see a description of a new business model for journalists and publishers but only found how they will use CVL tokens to vote on who is in the whitelist. Can someone please explain how/why readers would pay for the content? That's the important part, isn't it?
FWIW, I still have close to no idea what DLT/Crypto/Decentralization/etc. even is, or rather is for. Assuming the tech actually has wings we won't really understand the how and why until certain use cases come to dominate. Even then, it can be difficult. After Western Union was founded (19th century), people would walk into WU offices to send money over the telegraph line and say things like, "Where can I see the lit…
Couldn't journalists always run their own newspaper?
In Italy we had cooperatives running newspapers and magazines as long as I can remember, doesn't this happen elsewhere?
I _think_ the advantage of Civil might be that you get to pay directly a journalist rather than the group, but I'm not sure it's a big improvement.
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#9Earlier quoted context omitted.
ETH itself, OMG, QTUM, BAT, Augur, etc. Although "successful" is a bit difficult to determine. Did these projects ship? Yes. Will they be successful in the long run? Who knows? That's like picking winners in startup land...there's going to be a lot of strikeouts and a few home runs.
ETH is used only within the blockchain ecosystem. Its greatest utility has been enabling ICOs. OMG and BAT are both interesting proof of concepts, but they are not really operating at any kind of scale. I don't see how they can transition to a stable and growing company. I love the idea of Augur, but they have something like 50 daily users, and that's not a sustainable business. Perhaps my original comment was a bit…
> my point was after a few years of hype about how the blockchain was going to revolutionize everything, and billions of dollars of investment, we should have at least a few real-world use cases. Something beyond the PoC stage.
Perhaps the wild claims and shoot-for-the-stars plans prevented most the blockchain startups from capitalizing on where the easy money was (and usually is), enterprise sales.
IBM sells blockchain solutions. I bet they've made some money doing so (at worst because they could probably sell digital toilet paper and make a profit off enterprise contracts before they phase it out).
Re: Civil’s tokenomics has left its journalists wondering where their salary is
#10"the maybe-we’ll-all-get-rich piece"
It also implies that maybe you won't get rich. So these journalists didn't get rich. They made a gamble and lost. End of story.