Social Capital vs Financial Capital
Recently in a comment on my last post my friend @wil.metcalfe talks about these two different types of capital; financial and social. Lets start by asking google to simply define these two terms so we are all on the same page.
According to google: "Financial capital is money, credit, and other forms of funding that build wealth for people and businesses. Social capital is a set of shared values or resources that allows individuals to work together in a group to effectively achieve a common purpose."
Wil brings this up to highlight his concerns over up-vote bots like UPVU and Blurtbooster in a discussion he had with a prominent Blurt blogger @offgridlife. Off Grid is openly pro UPVU bot which earns it's users a substantial return on investment through delegation, and substantially more than one would receive through delegating to the now human controlled @blurtbooster account. Maybe @saboin or someone else knows the exact APR% on these two options, I do not.
Wil goes onto explain a few things about financial capital, social capital, and growing the platform and frankly I could not agree with him more!.....From Wil:
Thank you so much Wil for sharing your well thought out views on this matter. Again, I totally agree and think your logic makes perfect sense especially when applied to a "social" blockchain.
Wil also asks about the main differences between Upvu and Blurt booster. I would say if you don't delegate to UPVU you don't get voted, period. Almost zero quality control from UPVU. UPVU is all about the $$$$ @blurtbooster is not.
Furthermore @blurtbooster is about raising up those who deserve it, and votes across the general user base under my supervision with the help of others. We focus on supporting those putting greater effort into social capital and posting quality which drives interaction. There for doing exactly what Wil says! Returning more "financial capital" to those who are interested in growing their own "social capital" here on Blurt!
Now it's your turn to chime in and earn a little of both "financial" and "social" capital in the comments below. Do you agree or disagree with Wil's philosophical approach to success in real life or here on Blurt? Financial Capital Vs Social Capital? Let us know and and Blurt-on! Until next time @world-Travel-Pro.
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