Over on Twitter (yes that’s what it’s still called regardless of Elon’s weird little ego trip) there’s a whole buzz about Social Finance, but scratch the surface and it’s basically just another bunch of Ponzi schemes where the big influencers grab all the loot at the expense of the ordinary folk.

Case in point: Tip Coin, which recently rocketed to first place on the trending hashtags leaderboard thanks to its viral promise of airdropping their forthcoming shitcoin to whoever retweeted enough links to their profile page.

Cue frenzied orgy of everyone spamming each and every tweet with free publicity for the project’s account, to garner “points” that could supposedly be converted into tokens at the time of the airdrop.

And guess what happened? The few big accounts who managed to accumulate the majority of points did actually receive a decent payout, but almost everyone else got flagged as “bots” and had their points wiped. They received nothing but the embarrassment of their timelines being littered with an endless stream of worthless spam, which benefits nobody except the project founders who are now sitting pretty, comfortably reaping the lucrative rewards of Twitter’s influencer payout system.

Alongside this farce we see Friends Tech getting people foaming at the mouth buying worthless “shares” in their favourite influencer in the hope that they’ll go up in value. But nobody anywhere has a plausible explanation of why the number should in fact go up, and most are losing money - as usual.

Meanwhile over here on stacker.news we see humble stackers posting quality content and tipping each other for it in a most wholesome and sustainable way.

For me this is the only version of SocialFi that is sustainable and grassroots, and I’m totally here for it.

Big up the stacker.news crew and big up the Lightning Network massive 👍