8 Comments       0 Reposts       1 QuoteReposts       0 Reposts       2 Likes       2 Diamonds
Comments (work-in-progress)
@ElrickErikose - Nov 04, 2022
But what happens if other person than sells your CC?
diamonds: 3   likess: 0
@TomFenske - Nov 04, 2022
Then the coin value will depreciate, as they are sold to "the bank," if you want. This is where @Randhir's idea comes into play with creators building utility into their coins, so CC's actually become yield-generating assets instead of pure speculation objects. This increased the likelihood of another creator being interested in swapping coins for $Deso.
diamonds: 0   likess: 1
@Randhir - Nov 04, 2022
Burn IMHO usually references an action where you get nothing back in return. At least in my mind. Like the Burn DAO Tokens in your DAO Wallet on Node.deso.org or Burning an NFT.

Here when you sell your CC, you do get back DESO. So, it is Sell IMHO and calling it "burn" might be inaccurate.

The answer as I addressed in my note yesterday is more education and more users adding utility in their token. One option though is for nodes to encourage Creator Coin Creation only once a user has spent a few days/weeks on the platform and also encourages them to buy more tokens before lowering FR, etc.
diamonds: 3   likess: 2
@TomFenske - Nov 04, 2022
Thanks for your feedback! I was using the term "burned," as the CC's disappear when "selling" them in the original way, whereas the coins remain when they are swapped for $Deso. Initally, I was looking for a different wording to not mix up selling CC vs trading them with other creators. I'm fully aligned with your point as building utility into assets would make them yield-generating assets instead of speculation objects, and thus, more attractive for others to take over.
diamonds: 0   likess: 0
@AlbertoGiacobone - Nov 05, 2022
Also, regarding the OTC exchange, maybe there's easier ways to handle that, like e.g. putting a conventional element in the bio, or even making it part of a set of stickers that can be attached to a profile (like the openforwork in LinkedIn) or other less resource intensive solution: if there's enough volume and interest, then yes, eventually devoting more energies to something like this might be appropriate, but I wouldn't rush to it.

First assess the demand, then go for it.
diamonds: 2   likess: 1
@TomFenske - Nov 05, 2022
Sure, the volume is key for functionalities like this to add real value. That's why we could start it slow and with nearly no effort by spreading the word about trading CC or by using hastags like #CCswap. Again, appreciate your thoughtful comments! 🙏
diamonds: 0   likess: 1
@AlbertoGiacobone - Nov 05, 2022
Words are crazy important, but in this case I think @randhir is onto something expressing "burn" is associated with loss (you destroy value) and in this case it might be more interesting for the overall process to educate more, through microcopy and eventually awareness notices and confirmation elements, making sure people know what could be a good way of handling this situation (and the way you suggest to do it seems proper).
diamonds: 2   likess: 1
@TomFenske - Nov 05, 2022
Thanks for your feedback! Surely there is a lot to learn for new users over here. Especially the fact that CC value also has an influence on the comment order in a given post is of great importance for the mindset regarding CC.
diamonds: 0   likess: 1