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.
T-9000-FOA-Count・@TFOACount・14 hrs
dont forget a very important overlooked (bull)marketrule😱
be happy about others winning and dont fall into sadness if u missed out on smth or made mistakes, everyone has its own way, no reason to look away from your path...
...time to lock in!😤😅
This post was edited ・ 8 hrs
Whit @0xNull.io・@taoreserve・3 days
I still continue to rise in the Arena Champions rankings without doing anything. Now at 216. This place is getting demolished by the market. I almost feel bad for Jason and his team. Besides writing good smart contracts and doing like 100 wallet upgrades they have done nothing but partner with desperate people who rug the community. Sad really. So much potential wasted.
All they have to do is allow likes, reposts, comments and comment likes to earn $ARENA and this place will flourish. Comment likes must earn a small fraction, because people will comment farm, but that type of degeneracy should be allowed to build the crowd and create token velocity.
How they can’t figure this out is just goofy.
T-9000-FOA-Count・@TFOACount・5 days
care mexc btw, dont send too much there, as they blatantly will steal your money if ure unlucky
miracle them ppl still running around tbh---dont park funds there if u wanna keep it
