Posting Memes Adds No Value to the Hive Blockchain

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Time and time again we hear battles on the Hive blockchain over what is "worthy" of rewards and what isn't. It's an interesting debate and one that has shed many tears and sharpened many spears.

With Threads, we sidestepped all of this. Microblogging on https://leofinance.io/threads offers us a way to post content without posting to the first-layer post apparatus on the Hive blockchain.

This gives us a playground to post whatever we want. If you think something is worth upvoting, you upvote it. If you think it isn't, you don't.

Web3's power is in giving tools to the community and letting them run with those tools and decide the best way to utilize them to add value both to the underlying token - LEO - and to their own blockchain identity (personal brand).

Posting Memes Adds No Value to the Hive Blockchain

I saw this meme that @l337m45732 posted on Threads. As many know, he started the #gmfrens movement on Threads and created his own sub-rewards system on top of LeoThreads to reward people who use Threads to post under the gmfrens tag.

It's a cool idea and he's managed to build a really successful NFT model around it.

The question he presents: do memes have any value in growing LeoFinance / the Hive Blockchain?

I think a lot of people choose to believe that memes, short-form content and pictures have no value to the Hive ecosystem. A lot of people will downvote a post if they think there are too many rewards being sent to it and not enough words to warrant "effort" in proportion to those rewards.

Misaligned Inputs and Outputs

Effort is not the determination of value. Some people work 80 hours per week working two minimum wage jobs and barely scrape by to pay their bills.

Other people work 4 hours per week running online ecommerce businesses and make $100k per month.

Are inputs aligned to outputs in these 2 scenarios? No.

The 1st person is working much harder and earning much less than the 2nd person.

Why is Content Different?

So why do people on Hive tend to look at content as an efforts should equal rewards scheme? I've never been a believer in this.

Engagement is the Input, Rewards Are the Output

Someone might post a Meme on Threads and earn $10 worth of LEO for it. Is this worth it? Should this get downvoted?

Well, if 0 people interact with that meme and it sucks on the engagement perspective, then I think many of us could make an argument that it isn't worth it for the LEO protocol to pay $10 for that meme.

BUT, let's say 100 people upvote the meme because it is so hilarious. Let's say 25 people comment below that meme and the author of the meme responds to all 25 comments.

Now there are 150 total engagements with that meme and countless more who have probably glanced at the meme since it's trending.

The meme has now generated 50 comments - which means a minimum of 50 page views from people clicking the meme and then clicking to comment.

What are those page views worth to the platform?
What is all that engagement and interaction worth to the platform?

These are the pertinent questions. The amount of effort it took to make the meme is irrelevant.

Some accounts on Twitter make millions of dollars per year posting memes, getting engagement and then selling products to their amassing audience.

Inputs don't have to match outputs. I believe in a world of engagement on Web3. Engagement is king and if a Threads user can create massive engagement around their "shitposts" then they deserve all the rewards the accrue.

About LeoFinance

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Big facts, Thread whatever the fuck you want. If it gets votes, it gets votes. If it doesn't, it doesn't.

What really matters is the level of engagement, and we get to choose what we engage with just like we get to choose what to vote on.

I'd much rather get 10 comments than a giant upvote with no comments. The engagement is the value.

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I like that you can just say fuck and no one would moderate it in Hive 😅

But yeah agree 💯
No need for haters/envy

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Yep, the beauty of having truly censorship-resistant decentralized systems like Hive.

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when you first broke the news of something new coming and it evolved into the mysterious project blank, I declared that I would only post pics of Mr Burns and get rich. That's still my plan. I get value from a laugh so I will curate things that I simply just like.

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I think a lot of people choose to believe that memes, short-form content and pictures have no value to the Hive ecosystem.

Dinosaurs.

Back in 2019, I was saying that Hive needs shitposting for its mass adoption agenda and I have even created a community called Hiveonthego for such type of content.

Hive is no longer just a blogging platform and that's what some folks here are missing. If we want exposure we need to step the fuck up.

Instagram, facebook, tiktok and snapchat have grown big due to ease of use and availability.

It's easier to gain exposure as a social media platform by finding 1 million people posting 100 words posts than to gather 100,000 sharing 3-5 500 words articles.

By no means am I downplaying blogging, but microblogging is vital for Hive. Luckily we have threads and maybe at some point we will have project blank too, or that everything app from Leofinance.

Anyway, Happy New Year and Hive on!

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Project blank = everything app = leofinance

Our new mission is to create the everything app, rather than split off on all these side missions

All of it is being built as a standalone UI. Identical experience to Twitter but deeper with web3 features

I agree, microblogging is the key to hive’s future

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Agree with input and Output Point of View!

In my opinion there's a way Memes adds value like the world knows and use memes for marketing products or different stuff and there's always a trend.

just like that I do use memes to make learning ease by explaining concept through memes or about different hive product and that make sense to say it adds value at some point.

Engagement does matter and that decides this thing though what way will be better to market #Leothreads outside hive? In your perspective.

If I would be that person than do through memes. Elon musk making memes, meme coins, token or coins and brands etc mostly doing meme contest etc and probably everyone knows why there's always a hype around meme but well quality can be judge through engagement.

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If we want to rank on search engines then engagement is the key. You summed up what we need to be doing.

We had some very bad actors on the legacy chain who shitposted 10 times a day every day and robbed the reward pool by self voting with alt accounts. We all know who these people are. Some of them are still here.

I think this may be where the idea of so called low effort content got lumped in with these shit posters.

There is a massive role for memes on every social media platform so why not here?

If you write a 1000 word essay and no one comments on it but it gets huge upvotes.. What signal is that sending?

Memes generate clicks and these can lead to other content. Memes are a funnel.

@molometer

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Thanks for these thoughts on the values of memes! 😊

I do agree that the community can determine the value of meme posts. The beauty of Hive is that it permits all types of content, and memes are fantastic for engagement of the general population. I love the quality of long-form posts here, but memes are also great - after all, that's a basic aspect of social media, and cannot be dismissed.

It's great that we'll be able to see both types of posts on Hive. However, a question to ask is: will be willing to allow this type of content to overtake the long-form posts if it ultimately increases engagement? Keep in mind that Threads are only visible if you happen to know about them and go into the Threads app within LeoFinance. Right now, Threads are something you have to dig around Hive to find.

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Nah! it's just that he doesn't share or follow to the letter the whole values nor the fifteen commandments of the Gods of the hive blockchain. ;o)

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It truly is all about engagement. Doesn't matter what form it takes. There are "geniuses" from every medium. If someone is good at memes and stimulates clicks/thoughts/comments then that work is every bit as valuable as someone writing an interesting article.

As you point out, the amount of "work" put into it is irrelevant. I guarantee there are people on here who can write good articles in 10 minutes. Should they be rewarded less than the people who take 2 hours to do the same thing?

What is Hive?

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Thanks for sticking up for all the clowns on the chain.I here by promote you to Defender of the Meme and Protector of Shitposts. You can add these to your bio :))))

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For a small wrinkle, looking at just the count of the comments also isn't enough, especially when people call all of these ridiculous bot comments. Engagement really requires humans to interact with humans in order to build a community.

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Humor always had value, there is a reason why people pay for Dave Chapelle's shows or that watch so many comedies in tv series. Life would be way sad without it, of course, memes are a short way to make comedy but they've still a lot of impact on social media like Twitter.

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I completely agree that engagement should be the primary metric for determining the worth of a piece of content, rather than traditional notions of "effort."

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Labor theory of value is more of a Communist/Marxist concept. The Austrian School that many cryptocurrency advocates insist that value is subjective. If people find a meme valuable, they will upvote it. There is no need to feel salty about it. The person working 80 hours per week can try to do their own E-Commerce business. If the society/community itself value things "wrong", then that society itself will fail. In a free market, things will eventually work out fine.
!PIZZA
!LUV
!CTP

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I saw this post after 4 days of it's posting and I still had to drop here to say something about it.

Aside being hilarious and fun, memes are really underated means of advertisement when used in the right way. They literally sell products to trend in areas of the world the products creator might not have heard or been before.

If you ask me, I think the answer to the mass adoption of Hive we've always wanted lies partially in meming Hive out. Literally. People will go to great lengths as searching Hive up if they find it a meme that is supposed to be funny that they just don't get.

photo_20230105_005626.jpg

This is one of many Hive advertising memes I made some few months ago and it raised a lot of questions on my WhatsApp on my WhatsApp. Memes add for to the Blockchain even outside the Blockchain. It just depends on the type of meme and what purpose the meme serves. This one for example, is a kind of an ad, but a meme regardless.

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