Is Ideamarket a popularity contest?
Think of it this way:β€Œ
  • Bitcoin is a novelty, UNTIL we need money that's not controlled by central banks.
  • Ideamarket is a popularity contest, UNTIL we need credibility that's not controlled by media corporations.
In other words: Credibility = popularity + high stakes.
Most of the time, it doesn't matter who's "popular."
But it always matters who's credible β€” especially when stakes are high.
How many lives could have been saved if America were listening to Balaji Srinivasan instead of the New York Times about COVID in January 2020?
High stakes compel popularity to defer to credibility.
Bitcoin is a bet that "fiat currencies inevitably die of inflation."
Ideamarket is a bet that "high-stakes moments inevitably happen."
For more detail, see Hole-in-the-wall Justice.
Last modified 3mo ago
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