COINBASE for Crypto has come

Clinamenic

Clinamenic

Binary & Tweed
If people like this just dialed back the negative characterizations, they'd likely make a bigger impact. All through that thread were superlative putdowns of everything crypto, many of which being based on real problems in the space.

Ultimately the same issue as the line goes up guy. Most of the points were made with an actual basis, but were characterized to such vindictive extents that they limited their audiences more to those who already were against crypto.

Pretty symmetrical with the evangelist side, only the anti-crypto side doesn't have the baggage of having financial stakes in their statements, unless they're somehow invested against crypto.
 
Clinamenic

Clinamenic

Binary & Tweed
@luka may wish to participate in the first CityCoins governance vote, which proposes an overhauling of the emissions schedule and which seeks to address the demand issues that have driven the market price down (which I suspect is relatively easy in this case because the market is young and limited to a single, relatively obscure exchange)

Vote on the CityCoins Upgrade!

Proposed protocol upgrades include on-chain voting and a compressed emissions schedule.
vote.minecitycoins.com vote.minecitycoins.com
 
Clinamenic

Clinamenic

Binary & Tweed
Yeah this is the latest wave of hype, now seemingly on the tail end. There have been cases of people in low-income countries actually earning more money playing games then working, but there has also, in all unsurprisingly likelihood, been an onslaught of scams and hacks.

Even some of the legit ones like Axie Infinity became prohibitively expensive to even get involved in, yet alone depend on as a means of income, and that was before it suffered the Ronin hack.
 
W

wild greens

Well-known member
Decentralisation seems quite pointless if the firms are just as crooked as the institutions you wish to replace

www.reuters.com

Special Report: How crypto giant Binance built ties to a Russian FSB-linked agency

In April 2021, Russia's financial intelligence unit met in Moscow with the regional head of Binance, the world's largest crypto exchange. The Russians wanted Binance to agree to hand over client data, including names and addresses, to help them fight crime, according to text messages the company...
www.reuters.com www.reuters.com

*

I cashed out recently
 
Clinamenic

Clinamenic

Binary & Tweed
Yeah this is a misconception thats prevalent even in DAOs: if the benchmark is complete decentralization of power, DAOs will inevitably fail. In my mind, a more realistic benchmark is for DAOs to render technically feasible certain horizontal organizational features that weren't as feasible before DAOs, EG DAOs that give all token holders the uncensorable right to proposal that one of their executive elected members gets removed from their office. That happened in MakerDAO twice I believe.
 
vimothy

vimothy

yurp
an interesting question re DAOs is what are firms and why do they exist? from the POV of a certain sort of market fundamentalism, firms make no sense. they are massive islands of command economy which exist within the "free market". probably, they cover the majority of all activity within the economy, with market based activity occurring only at the boundaries. but why should this be so if market based exchange is so much more efficient?
 
Clinamenic

Clinamenic

Binary & Tweed
vimothy said:
an interesting question re DAOs is what are firms and why do they exist? from the POV of a certain sort of market fundamentalism, firms make no sense. they are massive islands of command economy which exist within the "free market". probably, they cover the majority of all activity within the economy, with market based activity occurring only at the boundaries. but why should this be so if market based exchange is so much more efficient?
Click to expand...
My only guess, not really knowing any of the discourse here, is that for markets to be efficient, there need to economic actors comprising them, and that firms play a sort of higher order role to individuals, as economic actors, and can also just protect individual actors from unlimited personal liability. So maybe that liability reason is what is propping up firms (edit: in a market that would otherwise be more efficient without firms), in ways that wouldn't be necessary if such liability wasn't a concern?
 
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Clinamenic

Clinamenic

Binary & Tweed
DAOs present a lot of issues with liabilities too. Plus, to my knowledge, there isn't really a way to fire someone from a DAO. The majority of tokenholders can vote to remove someone from a higher office, like a seat on a treasury committee (a "multi-signature" wallet that requires the approval of 3/5 or 4/7 (etc) member wallets in order to move funds).

I don't know, on a technical level, if there are ways to have tokenholder voting programmatically be able to unseat treasury committee members, but I'd pretty sure there are already ways to do this. Rather than to pass a vote, and then still rely on the other treasury committee members to boot the voted-off member. Ideally it would all be on-chain and codified.
 
vimothy

vimothy

yurp
Clinamenic said:
My only guess, not really knowing any of the discourse here, is that for markets to be efficient, there need to economic actors comprising them, and that firms play a sort of higher order role to individuals, as economic actors, and can also just protect individual actors from unlimited personal liability. So maybe that liability reason is what is propping up firms (edit: in a market that would otherwise be more efficient without firms), in ways that wouldn't be necessary if such liability wasn't a concern?
Click to expand...
that seems at least plausible. unfortunately the mainstream approach focuses almost entirely on their motivations rather than on more "ontological" questions about why they exist with a particular, non-market, structure.
 
Clinamenic

Clinamenic

Binary & Tweed
Does the mainstream discourse consider firms the result of cooperative motivations of individuals constituting the firm? Does it even really get into game theory, or do the main theories just assume all actors are rational and profit-maximizing by default?
 
Clinamenic

Clinamenic

Binary & Tweed
I don't know enough about what the major neoliberal ideologues were proponing, but here Blyth says neoliberalism doesn't really make new assertions, so much as it "rehashes" the assertions of liberalism (IE from what I gather, minimal governmental intervention in market affairs).
 
Clinamenic

Clinamenic

Binary & Tweed
Maybe what's "neo" about it is that it is informed by and a reaction to embedded liberalism and the sort of welfare economics associated with Keynes? I would suspect this neo stage would be more dialectically advanced than classical liberal economics, but again I don't know enough to be sure, and I may be giving the neoliberals too much credit here.
 
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