DESO NEW STARTER GIFT
Old Desonians remember that when Bitclout started, new members received a small donation from @merlin to be able to test the platform. Finally, this starter gift was abandoned because it attracted too many scammers. Well, it's back, and thanks to the new starter gift, new members no longer need to buy DESO to test the platform.
Core Team member @mossified announced the new starter gift on August 19. To benefit from this gift, users must provide their phone number. This is to prevent people from creating multiple new accounts just to receive the gift.
However, faced with the reluctance of many people to provide a phone number, Mossified said: « We are currently scoping a captcha flow, so we can skip the phone number verification step. »
This gift will allow people who do not have a crypto account to test the platform. It is therefore a very good initiative to widen the audience for DeSo.
SCAMMERS, SPAMMERS, WHAT SOLUTIONS?
NFT SCAMS
A common mode of scamming involves appropriating an image to create an NFT without giving credit to the owner of the image. One thing that we also often see are images from image banks transformed into NFTs. The value of an NFT stems from its uniqueness. So legally downloadable images (like those found in image banks), no matter how beautiful, transformed into NFTs have practically no value since anyone can create the same NFT. We understand that the least we can do is ask that the creator of the NFT honestly indicate the origin of the images.
A creator of similar NFTs got reprimanded on DeSo recently and apologized to the community. That is why we will not mention his name.
@DesoScams has started to help eliminate scams from the $DESO platform.
If DesoScams buys a coin (0.0001), it is a warning to potential investors to tread with caution.
So if you want to invest in some CC, always check their holders list first.
IMPERSONATORS
Another classic form of scam involves creators impersonating people who have a large number of followers on mainstream social media.
For example, two weeks ago, someone opened an account claiming to be Isabella, an influencer with 23.3k Twitter followers. I contacted the real Isabella to ask if she had an account on DeSo. She replied, « I don't know what DeSo is. So, no, it's not me. »
So, don't blindly buy CCs or NFTs that look promising. Engage with the creators. Ask them to put the link to their DeSo account on their link tree, website, or other social media. Make sure they really are who they say they are.
To make their imitation more believable, some use the same username as well-known creators but just replace one letter.
This is how someone impersonated @CivilEngineer's DeSo account by replacing Civil's lowercase L with a capital i. The two typographies are identical: CiviIEngineer. This fraudulent account has since been banned.
SPAMMERS
Unfortunately, we also see more and more spam. Spammers respond to your posts by advertising products and services that are unrelated to the topic of discussion.
For example, in the thread regarding the question "What motivates you to stay on DeSo? A spammer replied: "Hey guys, if anyone is interested in crypto, stocks, or real estate, check this out [referral link]. »
A vigilant Desonian, @SupremP, immediately chided, "It's nerve-wrecking as fuck. Can you not spam your referral links by doing this constantly, off-place, and from so many multiple accounts elsewhere? Does it really pay off for you? I doubt it. Thanks for your consideration. »
GHOST TAGGERS
Something else akin to spamming that annoys a lot of Desonians is people who ghost tag. That is, they tag a large number of creators and then delete the tag. So that their publication appears in your notifications but you do not appear in the list of tagged people.
To solve this, it is usually enough to ask them to stop tagging you.
DIAMOND SHOWERS: BLESSING OR CURSE?
About once a week, I get twenty notifications all at once. At first, I was quick to look at which of my posts had gotten so much engagement, but now I know it's not about engagement but about diamond showers. Some are happy with it, some are not.
A 💎shower on, for example, 20 posts represents a gain of $0.0022 x 20 = $0.044. That is about 4.5 cents. Or 9, for 💎💎showers. I ask: is it worth invading someone's notifications to give them a few cents?
In real life, no one would like someone regularly knocking on their door to offer them a few cents, right?
Why do people do this?
On the one hand, to attract the attention and recognition of creators, and on the other, to increase their engagement statistics the easy way.
From my point of view, these automated showers have a much less positive impact than diamonds given manually, in a very specific way, to a particular post.
HOW TO INCREASE THE DAU? MARKETING OR NOT MARKETING?
The number of current active members has not increased for two years. Worse, it tends to decrease. We are currently, on average, only 500 active every day on DeSo. This causes a lot of frustration. People wonder why the Core team doesn't launch a big marketing campaign to get people to sign up. The Core team replies that the time for this campaign has not yet arrived. They wait for the technical part to be fully operational, in particular to prevent scammers. To which the Desonians respond that the platform is sufficiently complete and functional to satisfy new users.
@jodybossert: « Copycats are popping up more and more. I’m not sure things need to be perfect before that big marketing push comes. I feel we already have more features than everyone else and a solid roadmap of what’s to come, so let’s bring on the rest of the world to enjoy the ride with us before we lose this unique, first mover advantage opportunity. Marketing above the rest will get harder and harder when there are more to market against. Word of mouth is the greatest marketing of all so let’s get people here now before we have to steal them from elsewhere. »
@Ashdigital (Core team): « First is important for sure, but it's not the be-all end-all that determines success.
We have a lot more ways to win than just being first.
We definitely haven't been idle and continue to push forwards.
Competition will increase, and we'll need to continue adjusting along the way.
As far as marketing goes, it needs to be well thought out and strategic.
There are a lot of other chains that spend a lot more on marketing than us and have fewer users. It's not as cut and dry as spending x on marketing and getting y in crypto.
Outside of Ethereum, which hasn't done much marketing until recently, traditional marketing tactics don't always work in crypto.
Ethereums marketing has always been building killer apps which sparked an influx of capital and users.
We saw it with ICOs, NFTs, DeFi, etc. That's what sparked the marketing flywheel.
That said, we've thoughtfully improved the branding and messaging over the last year or so, which sets up for much more effective marketing campaigns in the future that retain users. »
INCOMPREHENSIBLE JARGON
From the start, the Core Team's priority has been to convince developers to come and build on DeSo. So that all their communications are done in a technical jargon incomprehensible to ordinary mortals.
So @Randhir tweeted a Web3 lexicon of commonly used terms:
Airdrop = Freebies
Blockchain = Web3 DBs/Data Store
DAOs = Web3 Orgs
Mint = Buying assets
NFTs = Web3 media assets
Private keys = Web3 passwords
Public keys = Web3 usernames
Smart Contracts = Web3 apps
Tokens = Web3 platform assets
Tokenomics = Web3 biz models
Well, I think Randhir's explanations are just as confusing as jargon terminology. Devs will be devs!
HOW MUCH DOES USING THE NFTz APP COST?
Only one node, NFTz, is focused on the efficient presentation of NFTs; the other primary nodes offer the option to mint, present, and sell your NFTs.
By receiving a $500K funding from Octane Fund in September 2021, the Krassensteins were able to create a genuinely professional application, which is crucial for anyone who is serious about succeeding in this market.
How much does utilizing NFTz cost?
NFTz user guide: « For the use of NFTz we have set a fee of ~0.0006 $ per transaction. We have set a fee of ~0.002 $ for a post and ~0.004 $ for a post combined with a mint.
NFTz charges 1% royalty on your NFT. »
The Krassensteins declared in August 2023 that they will devote their time to developing collectz.xyz, an NFT application, on Lens Protocol (Polygon), a different platform. However, they continue to maintain their DeSo accounts, and NFTz is still up and running.
FRIEND.TECH : A COPY OF BITCLOUT IN THE EARLY DAYS
A social network called Friend.tech is housed on the Base blockchain. The application, which is only available on mobile devices, enables users to link their X (Twitter) account to a Base address created especially for the purpose.
Users can purchase CCs from others in the form of shares, following the same logic as DeSo. Customers can access private chats and special content in particular thanks to this. During the beta period, registration is only permitted through invitation.
All Desonians who have used friend.tech, Twitter's web3 platform, agree that it resembles an early version of Bitclout. Additionally, similar to Bitclout, the mania peaked in its early days before declining.
@Krassenstein: « Has anyone tried out friend.tech yet? It reminds us a lot of Bitclout in the early days. We are both on there experimenting with it. »
@ItsAditya: « itsaditya_xyz there. this looks like bitclout but worse to me lmao »
@jodybossert: « I still haven’t noticed a social feed, just a broken chat tool (broken in that you only see the messages of the creator, not the others in the chat). So yeah, VEEEERY early BitClout. »
@BenErsing: « Yes, Im there. Pretty unimpressed personally. »
Randhir on Twitter said that several of his DeSo friends have bought shares of his account on Friend.tech.
Randhir: « Friends from DESO riding the friend.tech wave after all the bots and traders have made an exit. »
He then tempered: « For the record, I have 200$ on Friend.tech and 100x that on Deso.
If they improve their UX or our DESO heroes @kuririn and @ItsAditya build better frontends, this might change. »
MOST PEOPLE WILL LOSE MONEY ON FRIEND
Some web3 specialists see in Friend all the signs of a Ponzi and predict a catastrophic end for the majority of investors. Only a handful of unscrupulous gamblers will get rich.
Alex Valaitis (AI and crypto tech) sur Twitter: « I worked with DeSo (the project behind @BitClout) for 9 months.
I can say with confidence that the @friendtech hype will not sustain.
Friend Tech did not learn from Bitclout & is already showing signs that is doomed to repeat the same mistakes.
Similar to Bitclout, Friend Tech is leveraging bonding curves to help drive hype.
What is a bonding curve?
It's basically a clever way of drumming up more demand for an asset.
When an asset (in this case a social token) is first listed, it is very cheap…
However, as new tokens are issued, the price increases exponentially.
This preys on human psychology perfectly:
1) The early buyers know they are getting in cheaper, so they buy a bunch of cheap tokens up front (rapidly increasing the price)
2) Then people see this rapidly increasing price and they ape in thinking this is the next big thing!
This causes the price to skyrocket even more (making people in middle of curve feel like geniuses)
Now the hype factor is at its peak…
3) But at this point, the early buyers are already up 100s if not thousands of % on their investment.
And eventually somebody early in the bond curve cashes out.
This then craters the price of the social token.
And that is how you get your "rug pull". »
Friend.Teck transactions curve by Dune (above) reminds a lot Bitclout curve at its start in March 2021 (below): a great and quick upsurge followed by an also great and rapid decline.
According to Alex Wice (crypto trader), most people will lose money, and eventually the hype will die.
Alex Wice on Twitter: « Since the big names receive most of the value up front, they aren't incentivized to continue maintaining their chats.
This is the same thing we saw with dozens of celebrity NFT projects who promised ongoing "utility ».
Instead they take the money and bounce.
What will happen in the coming weeks/months is that we will begin to see the Friend Tech ponzi fall apart.
- People will rug pull their tokens
- Influencers will stop maintaining their chats
- And eventually the hype will die
In the process, MOST people will lose money.
Some people will make money but sacrifice their reputation.
And even fewer will make it out with money and their reputation intact. »
ENGAGEMENT ON DESO HAS BEEN DECLINING SINCE OCTOBER 2022
DeSo keeps getting better, yet the number of its users keeps shrinking.
But Nader does not change course. He believes the tide will eventually turn. His efforts will pay off. The DeSo DAU will fly away. It's inevitable. Unwavering optimism.
He posted last week:
@nader: « I’m seeing a lot of people starting to take DeSo more seriously than they ever have. Just a matter of time. »
And yet, the transaction curve says something entirely different: a continuous fall since the beginning of October 2022.
Were are curious: what happened from August 1 to October 1, 2022?
The transaction curve was rising exponentially. Since then, it's been a slow, continual descent to the bottom of the well.
All-time DeSo blockchain transaction number trend: from March 1, 2021, to August 24, 2023. Stats and curve by @DeSoMirror
Desonians who have been active for a long time get discouraged and quit.
Like @ceponatia (586 Days on DeSo) posted on Friday: « I’m officially switching to lens. If you hold my coin or @Snarebox i encourage you to sell asap. I’ll be liquidating all DeSo assets on or around Monday. It’s been occasionally fun pointing out how worthless this project is, but continuing to spend time and money on it would simply be retarded. »
WHAT MOTIVATES YOU TO STAY ON DESO?
We asked this question last week to the Desonians: What motivates you to stay?
Here is a selection of their answers:
@Moggel: « Easy answer! Because the platform is so small (it has so few users), it's easy to become famous among them! »
@ArchaeologyFacts: « Clean from ad’s »
@ShadyAcres: « Oh that’s an easy answer!!! COMMUNITY
I’ve often said, and truly mean…
If Deso goes to hell today and I lose everything… it’s still worth it.
I’ve met so many real genuine friends here, and many acquaintances as well. Better than in real life people. »
@TheETHNomad: « Despite the cons, this is still the most utility driven Blockchain I've used. As an artist DeSo gives me the freedom & tools needed to engage my community & monetize in news ways. It's also a small niche right now and I've gotten to know many people I consider friends here. I will miss the small community vibe someday. »
@Clark_Renfort: « I initially wanted to have a new space to show people my work and try to build my business with the combination of a coin.
I wanted to find a way to market lamps that I am selling online, and build a community.
That whole vision has stalled and we are just here talking to people we have gotten to know.
But I keep hoping. »
@iodacasamia: « because DeSo has Creator Coins and I am an artistic Content Creator without the use of artificial intelligence.
So I think it is the right equation to stay here. »
@MayumiJapan: « I genuinely appreciate the opportunity to meet and interact with the amazing people here in this community. Different countries, ages, occupations, all the backgrounds… but every one here are the people who have taken a courageous step forward into web3 and I like the people who challenge new things.
And here, many people show me new and interesting things and also very supportive about what I say and do… and I really appreciate that 💙
So… I stay active here ^_^. »
@GaikeNFTcreations: « Hi it’s a good question wich I also thought about a lot last years. Actually for my personal account @gaike I build friends. Daily friends talking and sharing details of their life. I love the community ❤️
For this account I am glad that I can express my creatives with NFT series. In the “normal“ life, I am making portraits of used post stamps. But it’s always huge (more then 1 meter) and intensive so then is digital art a good combination. »
@BrookM: « Mainly the people. I enjoy my interactions and have befriended a lot of people from all over the globe.
Photos, jokes, music, interactive posts, memes, art…
The LACK of POLITICS! »
@Ugottaloveit: « What keeps me here and Excite for the future is Simple.
We Will never be Twitter, or Facebook, or Instagram, or TikTok
That's why we will succeed. The Toxicity is at all time highs and We do not need that here. We can stay Small and still thrive. As long as we continue to set the tone. Toxicity will never be comfortable. Bots and Hate will never thrive here. Their accounts will die so fast that they will have to either join us or go somewhere else.
This is why I am here. We will change the world. We will Bring much needed encouragement, support, and Knowledge. »
@SwiftD: « DeSo is building an extremely user-friendly environment.
DeSo will attract Web2 users like bees to honey because the UI and service offerings sound, look, feel like products and services they are familiar with but with the added injection of that financial incentive unique to Web3. »
@WhyIsItTrending: « - They are always innovating.
- Community members are friendly and very welcoming.
- Blockchain transactions are quick & efficient.
- Creators present genuinely good content and are open to feedback and ideas.
-💎s, polls, and CC technology of course. »
@Octavie: « In my Microsoft field of work, community is very very important. It is my second family. Besides meeting new and interesting people, I have fun sharing knowledge. And with everything in life there are ups and downs. And boy, do I have had downs lately! But that is no reason to leave. I am here to stay. The sun will shine tomorrow and the ups are coming. New doors will open and life will get better. And if I can make someone else happy, then... 🙏 »
Merci à tous ceux qui ont partagé leur témoignage. Nous n’avons pas pu tous les publier. Merci à @olin_patterson, @OuwePiet, @vampirecampfire, @HappyRabbit, @ThisDayInMusicHistory, @ftanix, @ElrickErikose, @MechellLord, @TheCryptoNews, @sorumakers.
WHAT ARE THE MOST POPULAR NODES ON DESO?
DeSocialWorld, Desofy, and Diamond share the vast majority of users.
The Desonians published an average of 19,633 posts and comments per week in August 2023, or 2,807 posts and comments per day. 42% on DeSocialWorld, 22% on Desofy, 21% on Diamond, 12% on unknown nodes, 3% on NFTz, and 1% on Bitclout
On average, 3,486 unique users were active on the various nodes, or 498 per day.
30% on Diamond, 27% on Desofy, 19% on DeSocialWorld, 19% on unknown nodes, 3% on NFTz, and 2% on Bitclout
We can therefore see that Diamond has the most unique users but that DeSocialWorld users post more than those on Diamond, and that Desofy is between the two. The other nodes are far behind, except for the "unknown" nodes, i.e., unidentified. Nodes are said to be unknown when it is not possible to identify them.
@DeSoMirror: "When constructing a "submit post" transaction using the backend API, a frontend can fill in the "NodeId" field. If it's left empty by a frontend, that's when the node is unknown. »
All the stats are provided by DeSoMirror.
HOW TO APPEAR IN HOT FEED (continued)
In the previous issue, we highlighted the fact that three-quarters of posts appearing in the hot feed belong to creators with the Diamond app's blue tick. It's worth clarifying, as @StarGeezer aptly pointed out, many of those with the blue check mark are long-time OG accounts; therefore accounts that are most likely to have built a network of engaged followers. These creators mostly have a relatively high Creator Coin price. This is why we can think that the price of the CC is a decisive data in the hot feed algorithm. So if @nader or @Highkey engages with your post, it gives it more weight and therefore more chances of being selected for the hot feed.
The value of the diamonds received by a post certainly also weighs in the algorithm.
@mcmarsh: “It's engagement that weights it in the hot algo. If a post has a few replies from people with reasonably "high" cc price that's normally enough (especially with the active numbers around at the moment)”
@StarGeezer: "The skew by coin-price would also explain why topics many of us are not interested in reading socially (e.g. crypto 24-7) receive much more prominence... as it's likely the whales and core team are more likely to engage with them.
The same can be easily seen with their pet projects - which only need one or two engagements to effectively be pinned to the top of a hot feed.
@tijn had done a brilliant job with the (now-retired) hot feed that @DeSocialWorld was using, which was much more fair.
DSW now use @Desofy's hot feed, which, though I believe they have changed the coin-price multipliers, doesn't feel like it gives lower-coin-priced-creators with the same chance that Tijn's did. »
So, a good tip: buy your own CC to increase its value.
THE 100 LIVES OF MR.DESO
Support Deso News by purchasing The 100 Lives of Mr.Deso new NFTs.
That’s all for now, fam.
Are there any topics that are dear to your heart? Initiatives that deserve to be supported? Any questions you'd like to ask @nader and the Core team? Offers? Suggestions? Feel free to let us know in the comments or by DM on DeSo.
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