Every incentive system eventually becomes a selection mechanism.
The interesting question is: selection for what?
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I don’t believe it eventually becomes a selection mechanism, it is one from inception.
One could assume the scenario above aims at selecting great content, but that’s not the case. It selects good intermediaries, the ones positioned closest to the moment value changes hands. So the question is: what kind of middleman does it breed?
Content is always the fuel, even if in legacy attention is the currency.