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guys cryptoX is not instagram...please keep that shit off of here. . .
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Someone do the secretary "hello HR???" meme but it's gwart and voh both saying decentralization does not matter with gwart as the chad.
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crypto and free-market libertarianism are actually somewhat uneasy bedfellows imo part of the power cryptosystems is the way they make us *less* free...by enabling binding commitments, unbreachable contracts.... hyper-free-markets thinking leads to the "efficient breach" theory of contract, where it's good to be able to break your agreements if it's profit-maximizing...at least part of the use-case of crypto is creating agreements you have to stick with even if not profit-maximizing... overlap between market maxis and crypto maxis is only partial imo, if you really think deeply about it . .
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crypto and free-market libertarianism are actually somewhat uneasy bedfellows imo part of the power crypto is the way they make us *less* free...by creating binding commitments, unbreachable contracts.... hyper-free-markets thinking leads to the "efficient breach" theory of contract, where it's good to be able to break your agreements if it's profit-maximizing overlap between market maxis and crypto maxis is only partial imo, if you really think deeply about it . .
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Had a great time at the @SECGov roundtable, "DeFi and the American Spirit" with many legends...pvp'ing relatively fellow code-maximalist-ish @ErikVoorhees was not on my bingo card, but just goes to show there's plenty of consensus-building to do on how to tackle DeFi regs!
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unfortunately just having an entity that doesn't have equity holders and prohibits dividends does not magically create tokenholder 'alignment'--that's table stakes & every foundation (including the ones everybody hates) already does that the real bare minimum should be: -->governance docs are public -->in those docs, the entity purposes are narrowly and carefully drafted to tailor to the particular community/token/protocol at issue (this is almost never the case), with few weasel words or "any other purpose permitted by law" clauses -->there is some enforcement mechanism for actually aligned third parties (e.g., the DAO itself) to take legal action against the entity and its managers if they are violating the entity's rules Very often, almost always, at least one of these elements is missing & the potential for loopholes and end-runs causing 'misalignment' with tokenholders is massive. Just BORG it. 🖖😎
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