Farcaster AMA November 3 (youtu.be) | |
First question is: "Why isn't Farcaster free to sign up" Dan then walks one through the entire argumentative chain of what are the issues with getting to a free sign up. He, surprisingly, also accepts the framing. Now, as a disclaimer, it is true that there are "unwritten rules for a type of consumer app," and so these rules for a Twitter-like app are that it must be free to sign up. If you look into X's latest model, it's still freemium, so these rules also haven't changed post-Elon. Nevertheless, I find it absolutely bonkers that it seems to be a problem in the crypto space that people don't want to sign up for an app that costs between USD 1-3. Literally ANY interaction onchain costs more. In fact, most wallets have actually just started to add hidden costs into building transactions by, e.g., diverting certain funds away from your wallet during bridging and claiming. But yes, you're virtually spending 1-3 USD on most onchain apps you're using. And you're doing that not once a month, or once a lifetime. More frequently, these apps are printing money with your ignorance. That said, people are happily ready to dump large amounts of money into virtually any memecoin that is that day's narrative on social media too. They'll always justify it by saying: "Oh but I might get rich with this one," and then they lose like 200 USD in 2hrs or something like this. So I find it crazy, people's willingness to be ignorant about this, and the fact that Dan and team have to even think about this, when it should actually be a thing to think about once the app outgrows the crypto space! IMO what this comes down to is communication. The unspoken rule is that "you can't pay 1-3 USD for a consumer app." Alright, but people easily spend this money every day on a dumb-ass mint, and they spend 100x on memecoins a week. So when it comes down to communication, then saying "my consumer app is 3 USD to onboard" is just the wrong way. The right way is: "Here's a coin that costs 3 USD with a lot of upside potential." Honestly, I think apps like Hypersub have already figured this out... | |