Public goods, MEME, and expectations.

The Role of Public Goods, MEME, and Expectations.

We walk on clean streets every day, with diligent cleaners working hard to keep them tidy. We can enjoy all this cleanliness without paying a fee.

In life, there are many public goods, mostly managed by the government. If individuals don’t pay taxes, they can indeed enjoy all of this for free without considering payment.

What are public goods?

The remarkable feature of public goods is their non-competitive nature. They are not driven by profit and the core is to ensure the safety and stability of the services provided, without exclusion.

For example, Linux system, which is currently the largest open-source operating system. It has been running well for decades, continuously updated, and available for anyone to use for free.

• Cardano Is it Going to Zero? ADA Price Slips Amidst Crypto Market Rally – Will This Mining Protocol Go Viral?
• Bonk: The Meme Coin That’s Going Barking Mad on Binance
• 4096 Token: The Explosive Ride to the Moon

In the cryptocurrency field, many products can be called public goods, such as the Ethereum public chain, which is a good example. Its operation mainly relies on the support of the Ethereum Foundation, without any direct source of income.

Many projects in Gitcoin’s grants are public good products, especially tools and media that are commonly used, providing mostly free services without any revenue source.

We can’t help but ask, are these people generating electricity out of love?

The value of public goods

We check the weather forecast every day, and the government foots the bill for these services.

In the cryptocurrency market, we use charting tools and wallets, most of which are free. How do the teams providing these services make a profit? Just generating electricity out of love?

In reality, most of these products rely on funding to maintain operating costs. For example, Linux relies on a large number of donations, and many underlying tools and applications in the Ethereum ecosystem rely on funding from the Ethereum Foundation to sustain their operations.

It can be said that as long as something is being used, it has value as a public good. However, this value is not directly reflected in transactions but rather in the scale of usage and trust.

The value of public goods is reflected in the real information it brings to the dependent ecosystem, such as a large number of users or extensive references from other products.

Users only pay for expectations

If Linux were to charge a fee, users might flock to other free operating systems. If users were asked to pay for using MetaMask, they would quickly turn away.

The characteristic of public goods should be continuous free usage, but this doesn’t mean they don’t have other profit models.

In the cryptocurrency market, airdropping tokens is a huge market. Many seemingly public goods applications are being heavily used, with users expecting them to issue tokens in the future.

Another huge market is MEME, where any piece of code can have a price as long as it attracts enough attention.

As long as there are expectations, there will be prices. Whether it’s airdrops or MEME trading, it all boils down to the market already having such expectations.

Once a group’s expectations are formed, it’s difficult to change, just like genes that can be inherited.

Friend.tech’s social relationships have growth expectations, and Bodhi’s content assets have trading expectations.

As long as there is such an expectation, the only remaining factors are the speed and extent of user entry and exit.

In short, no matter what product it is, as long as there is an expectation of trading, there will be users who will trade it.

New paradigm of public good

Public good means doing good deeds without asking about the future.

Developers can adopt a Zen mentality and may receive donations if they excel. However, many users are willing to pay, but there is no way for them to actually make payments.

We see crazy users who are willing to trade for a worthless string of names. The essence is that users do not want to be harvested by potential VCs, while also having formed an expectation of making money.

If every public good product has a name that users can trade, wouldn’t that be great?

Bodhi provides a great example. It has no protocol fees and can be considered a public good product, but it provides tradable assets. Those who buy first after an article is published are taking the lead.

What are people buying? It is still an expectation. There is no token expectation or any other possible expectation for this product.

We cannot expect users to use a product without paying anything, nor should we force them to pay. Everything is based on fate because such a system has already formed certain unspeakable logics.

**As a developer of public goods, it is like being a petitioner who wishes for world peace. And users are like worshipers who see the petitioner’s sincerity and generously donate money.

The bodhisattva sees this wish and makes it come true, and also takes some money from the offerings, giving a small portion to the petitioner.**

In this process, the public good has tradable offerings. There is no right or wrong in trading, no distinction between good and evil. It will follow certain inherent logic within the system and will be anticipated.

Name chain

Traditional encrypted index websites mostly only list tokens, making it difficult to track projects without issued tokens.

Why can’t there be a platform that lists all project names? Just a name, and this name can be traded.

It can even be a chain, similar to how Canto turns project names into a basic service, a public good product.

Every project has a name, they are not tokens, just names, but they can be traded, that’s it.

Of course, it’s just a wild imagination.

Conclusion

Are public goods valuable?

There is no doubt.

Are there really people willing to generate electricity for love?

Price is all about expectation.

If nobody in this world did anything productive and just waited for expectations, what would happen?

We should encourage the creation of value, someone has to do certain things.

It would be very interesting to combine the two.

For those who like to speculate, let those who like to take action handle the friction in between, and everyone will be happy.

The prosperity of an ecosystem lies in how many people are willing to continuously do silly things, do fun things, do inexplicable things, do those seemingly unprofitable and silly things

Writing is also a pretty fun thing to do.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!