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to a certain extent, openrouter did manage to turn tokens into a currency. The fungibility is there, as much as you don't care so much if you're getting your to
by polotics 2mo ago
to a certain extent, openrouter did manage to turn tokens into a currency. The fungibility is there, as much as you don't care so much if you're getting your token from novita or some other player, these become fungible.
- dgellow 2mo agoThey aren’t trading tokens, they are a market for compute. The difference matters quite a lot. What you have in openrouter is the ability to exchange money for compute at the vendor of your choice. We are basically back to 2020 trying to get people to understand that an NFT is NOT the underlying asset it abstractly represents…
- pests 2mo ago> The difference matters quite a lot. Please go on as I do not get your point.
- dgellow 2mo agoYou spend $100 to get tokens from Claude. Then go to your friend and tell them you are willing to sell the tokens you got for $50, it’s a bargain! They look at you, tell you that makes absolutely no sense, and why the fuck would they want to buy your tokens, ie something that only makes sense in your very specific prompting context. Tokens don’t have an inherent value and have no other properties that would make they tradeable. Another way to think about it: a company that spends $1M on tokens is burning that money hoping they will be able to recoup by generating a better product. If it would be tradeable, they could spend $1M to generate tokens, produce absolutely no product, and just resell all those tokens to get their money back. That’s obviously nonsense, that’s not at all what tokens are. And they cannot transform the tokens they got into compute, you need to consume hardware and energy to mint tokens, you cannot convert tokens into hardware