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Published Nov 9, 2023

194 - How Crypto Saves The Internet | Li Jin & Eugene Wei

Join Li Jin and Eugene Wei as they delve into how cryptocurrency is poised to revolutionize the internet by redefining social networks, integrating social and financial capital, and fostering psychological ownership to create deeper connections and community resilience.
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  • Ownership Defined

    Psychological ownership in crypto is a concept that extends beyond mere financial investment. argues that true psychological ownership is antifragile, meaning it strengthens when prices fall, as seen in communities like Bitcoin and Ethereum 1. This ownership is not just about legal rights but about a deep connection and alignment with the asset, akin to the Ikea effect where personal investment in creation fosters attachment 2. notes that this sense of ownership is crucial for building resilient crypto communities that value decentralization and sound money principles 1.

       

    Building Ownership

    Building psychological ownership in crypto products involves strategies that go beyond legal ownership. highlights the importance of user engagement through time, effort, and customization, which fosters a sense of agency and control 2. The Ikea effect exemplifies how personal investment in a product enhances attachment, making users more likely to stick with it 3. emphasizes that understanding these psychological levers is essential for crypto builders aiming to create sustainable and engaging networks 3.

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