The game theory behind 'Checks'
Yes…another 🧵 about @jackbutcher’s genius project
Yes…another 🧵 about @jackbutcher’s genius project
For those of you who didn’t read my previous thread, here it is below. Provides a bit of background, but with so many people reaching out and the collection getting more attention, I figured I’d dive more into the game theory.
Before I start - minor correction from my previous thread - there isn't only be one black check.
The max total of 3 can be minted and since you need to burn 4,096 checks for each black check, that leaves us with 3,739 original checks if all black checks are minted.
The max total of 3 can be minted and since you need to burn 4,096 checks for each black check, that leaves us with 3,739 original checks if all black checks are minted.
Ok back to the game theory.
Sooo @jackbutcher is an evil genius for putting in a 4k+ burn when the top collector only has 250 checks. It’s insane. It's brilliant. It’s beautiful. But why?
Sooo @jackbutcher is an evil genius for putting in a 4k+ burn when the top collector only has 250 checks. It’s insane. It's brilliant. It’s beautiful. But why?
Because nobody is currently willing to spend over $500k to get a black check.
And even if they were, there aren’t enough listed. If someone were to even attempt this, the increased demand would probably make this a $1M+ expense anyways.
Mass de-listing if someone got close tbh
And even if they were, there aren’t enough listed. If someone were to even attempt this, the increased demand would probably make this a $1M+ expense anyways.
Mass de-listing if someone got close tbh
Since it’s highly unlikely a single person will be able to mint the black check, that means this game requires teamwork.
Fun innit?
Fun innit?
I’ve been speaking to @Schrympto who is currently the largest check holder at 250 checks (see how difficult it would be for one person to reach 4,096?) and he’s already plotting ways to go about this.
What I imagine is going to happen is that groups of holders will come together and form DAOs (@meat just let it slide pls).
Depending on how these DAOs are structured, their impact could go far beyond just this collection.
Depending on how these DAOs are structured, their impact could go far beyond just this collection.
The community built around Checks through the DAO can do a myriad of other things in this space. Possibilities are endless because of this pseudo forced collaboration.
I say pseudo forced because @jackbutcher isn't telling us what to do. He's just providing us with a very simple, elegant list of rules for his game. What we do with that is up to us.
But it's inevitable we start working together.
But it's inevitable we start working together.
So what happens after the first black check is minted? Well it's likely that another group of holders will want to go after the second check and will start working towards that as well.
If that succeeds, then an attempt for the final check will probably also be made (or not?)
If that succeeds, then an attempt for the final check will probably also be made (or not?)
I say 'or not' because that final check will be damn near impossible to attain.
Supply will be cut drastically by that point and stubbornness of holders/collectors who prefer other Checks variations will make it much harder to obtain the necessary 4,096.
Supply will be cut drastically by that point and stubbornness of holders/collectors who prefer other Checks variations will make it much harder to obtain the necessary 4,096.
And who knows the timeline over which this all plays out? This may occur over several months, maybe years - decades even.
The point is that this game never ends and the collection always has the chance to evolve - even if it remains static for a certain amount of time.
The point is that this game never ends and the collection always has the chance to evolve - even if it remains static for a certain amount of time.
There’s a lot more I can say about this, but I’ll leave it at that. It’s been amazing watching people hop in my DMs and start theorizing about how this game plays out and what the best approach is.
And if interest doesn’t wane, there may be people who aren’t even born yet that will one day be theorizing about this game just like we are right now.
Thanks for the good times @jackbutcher and godspeed 🫡
Thanks for the good times @jackbutcher and godspeed 🫡
dammit wrong @MeatTC_ LOL
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