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The 17-year-old genius behind Cupid Coin just bought the state of Tennessee. How weird is “too weird to be true” these days, and how confident are you in your answer?
Now there are dozens of love-based cryptocurrencies – Love Coin, Cupid Coin, Erosium, Nubilo – with market caps in the mid nine-figures.
Case in point: Luna, which bills itself as blockchain-optimized dating.
They caught my attention by hiring Aella, previously featured on this blog for her adventures taking LSD megadoses weekly for a year.
Users who want to catch someone else’s attention can bid the local cryptocurrency, Stars, to get their message to the top of another user’s queue; all Stars spent in this way go to the user receiving the message.
Stars can be bought with dollars and vice versa, so popular users can actually earn money reading all the messages sent to them. Market forces are the known solution to the problem of connecting resources to their highest-value use.
So if you treat user attention as a resource you can trust the market to allocate it optimally – in this case, to the guy who’s just realized he’s your soulmate, rather than the guy who’s spamming everyone with five dick pics.
But everywhere this solution is tried, it runs up against its one great weakness – rich people with mild preferences can outbid poor people with strong ones.
I can’t predict how this particular market will clear, but this doesn’t necessarily have to be a big problem here.