Pepper・@Cryptopepper3・12/11/24
The Wisdom of Crowds and Sofi
This has been an idea I've had for a long time, but it only crystalised recently.
If you’re not aware humans as a crowd generally if given the correct structure, make much better decisions than individuals, even experts on subjects. But to achieve this the crowd has to be designed in a way to avoid essentially mob/herd mentality, giving superficial consensus and essentially removing the positive effect of many individuals making their best guess. Producing popularity-driven discussions overshadowing informed, independent reasoning
This is why most social platforms and unfortunately lots of democracies are unable to make good use of the collective wisdom of people, we don’t structure the discussions to enable individuals to come to their own conclusions when given information.
So that’s the problem. How is this related to crypto, well we have seen the emergence of these markets that are used to derive the collective knowledge of crowds to predict events in the form of poly market for example. This has been one of the big winners of this cycle.
Well, what if a well-structured Sofi platform is in itself a very refined predictive engine based on the wisdom of crowds and is perhaps one of the big value add of the platform, one for the most part very underdeveloped at present.
The rooms essentially motivate people to have a higher quality of discourse, requiring knowable discussions from motivated participants in the curated spaces, it’s definitely not perfect, with many rooms being very quiet but the structure is in place in my opinion.
Right now, we most likely don’t have a diverse enough user base (another key parameter to high quality of results from crowds) to really see the power of this in action, but in my experience even now when I see multiple rooms discussing subjects and coming to similar conclusions without the same people, it’s a pretty strong signal to me that it’s a trend or meta worth paying attention to, I’m not relying on some room for the alpha, it’s an emergent trend of the rooms.
Anyway, that’s my thesis for betting on so many of you and I’ve been much more successful this cycle by using this methodology.
I don’t know the future, neither does anybody (expert or pleb), but collectively we are much better at guessing it than individually.
Think that’s the mistake we make here often in the value proposition too, its not about getting access to this alpha room, or that one, its about getting access to lots of informed, motivated, thoughtful people, some big accounts, some small accounts and using the collective knowledge people so generously provide to make better decisions as individuals.
I just dig a bit more into the new ref system it seems like you can earn fees if someone you refer has referred someone else (L2) and even if that someone refers someone else you still get some fees (L3)
I might be wrong but it seems to work like that 👀
This post was edited ・ 12 hrs
T-9000-FOA-Count・@TFOACount・3 days
i think one of the most "easiest" levers would be to be able to stake arenatickets for some emission/rewards as that also would increase the socialside automatically while also empowering speculation on tickets and theoretically makes them indirectly a lil more "liquid" this way too
This post was edited ・ 2 days
Pepper・@Cryptopepper3・3 days
It's pretty obvious we need incentives on social features here, because without an active social layer, the whole value proposition doesn't work.
I recall being told that this is in place and continues to be in place in tickets. Unfortunately I think that changed since so much time has elapsed since then.
Hopefully that decision gets revisited, along with incentives on posting, stages and streaming because the social layer badly needs to be front and centre of this apps drive forward in the future.
Pepper・@Cryptopepper3・3 days
https://x.com/machibigbrother/status/2092826374843314213
Seems pretty relevant to Arena
