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Like with normal investing, consumers do not have the ability to “do their own research” about the internals of companies who create and promote cryptocurrencie
by physicsguy 4y ago
Like with normal investing, consumers do not have the ability to “do their own research” about the internals of companies who create and promote cryptocurrencies. Which means that the research is flawed.
- cormacrelf 4y agoThis one was about the concentration of voting power. It turned out that a single, anonymous owner of governance tokens had enough votes to decide this hugely consequential issue on their own. Almost as if corporate shareholding concentration and acquisition-disclosure laws are as good as it gets for "decentralisation" of decision-making, and crypto is now going to have to reinvent that as well. Like, there are literally already laws in many jurisdictions that prevent multiple apparently-independent parties conspiring to avoid jumping over ownership thresholds but nevertheless acquire a majority of a company. Have fun emulating that with pseudonymity, no central regulator and no law enforcement with jurisdiction everywhere the participants are!