Merge branch 'rufuspollock-main'
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CynicusRex
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README.md
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README.md
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@ -7,6 +7,7 @@ Awesome critique of crypto/web3, etc. Contributions are welcome.
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### General
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* [The problem with NFTs](https://www.youtube.com/watch?v=YQ_xWvX1n9g) - 2022-01-21 - by Dan Olson (Documentary) 📺 [👉 Highly recommended 👈]
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* [Three things Web3 should fix in 2022](https://www.theverge.com/2022/1/28/22906010/web3-nft-internet-history-video-platformer) a response to The Problem with NFTs - 28 Jan 2022
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* Stephen Diehl series - https://www.stephendiehl.com/blog.html
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* [The Case Against Crypto](https://www.stephendiehl.com/blog/against-crypto.html) - December 31, 2021
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- [Blockchainism](https://www.stephendiehl.com/blog/blockchainism.html) - December 11, 2021
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@ -29,7 +30,7 @@ Awesome critique of crypto/web3, etc. Contributions are welcome.
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- [The Crypto Chernobyl](https://www.stephendiehl.com/blog/chernobyl.html) - February 10, 2021
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- [Gamestop, Bitcoin and the Commoditization of Populist Rage](https://www.stephendiehl.com/blog/gamestop.html) - February 3, 2021
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* [Today on Sick Sad World: How The Cryptobros Have Fallen](https://www.jwz.org/blog/2022/01/today-on-sick-sad-world-how-the-cryptobros-have-fallen/) - 2022-01-04 by Jamie Zawinski (legendary coder, co-founder of Mozilla etc.)
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* https://moxie.org/2022/01/07/web3-first-impressions.html - 2022-01-07 Moxie Marlinspike, co-founder of Signal etc.
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* [Web3 First Impressions](https://moxie.org/2022/01/07/web3-first-impressions.html) - 2022-01-07 Moxie Marlinspike, co-founder of Signal etc.
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* [Bitcoin, Currencies, and Fragility by Nassim Taleb - 27 Jun 2021](https://arxiv.org/abs/2106.14204) - highly critical paper by author Black Swan etc.
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* https://watershed.co.uk/studio/news/2021/12/03/case-against-crypto
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* [The European Money and Finance Forum - The encrypted threat: Bitcoin’s social cost and regulatory responses](https://web.archive.org/web/20220107084533/https://www.suerf.org/docx/f_88b3febc5798a734026c82c1012408f5_38771_suerf.pdf) - Jan 2022. A comprehensive study by SUERF - The European Money and Finance Forum that details the net negative effects of bitcoin to society.
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@ -40,17 +41,60 @@ Awesome critique of crypto/web3, etc. Contributions are welcome.
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* Molly White series - https://blog.mollywhite.net/blockchain/
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* [Blockchain-based systems are not what they say they are](https://blog.mollywhite.net/blockchains-are-not-what-they-say/)
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* [It's not still the early days](https://blog.mollywhite.net/its-not-still-the-early-days/)
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* [Abuse and harassment on the blockchain](https://blog.mollywhite.net/abuse-and-harassment-on-the-blockchain/)
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* [Anonymous cryptocurrency wallets are not so simple](https://blog.mollywhite.net/anonymous-crypto-wallets/)
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* [Cryptocurrency off-ramps, and the pressure towards centralization](https://blog.mollywhite.net/off-ramps/)
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* [Cryptocurrency’s Robinhood effect](https://blog.mollywhite.net/cryptocurrencys-robinhood-effect/)
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* [Against Web3 and Faux-Decentralization](https://soatok.blog/2021/10/19/against-web3-and-faux-decentralization/) - 2021-10-19 by Soatok
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* [The Case Against Crypto](https://www.watershed.co.uk/studio/news/2021/12/03/case-against-crypto) - 2021-12-03 by Martin O'Leary
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* [The Register: The dark equation of harm versus good means blockchain’s had its day](https://www.theregister.com/2021/12/06/the_dark_equation_of_harm/) - 2021-12-06
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* [Blockchains and Cryptocurrencies: Burn It With Fire](https://www.youtube.com/watch?v=xCHab0dNnj4) - 2018-04-20 by Nicholas Weaver 📺 Nicholas Weaver is a staff researcher with the International Computer Science Institute (ICSI) and lecturer in EECS, where he teaches machine structures and computer security. He earned his Ph.D. in computer science from Berkeley in 2003 and joined ICSI to study network security and measurement. "The entire cryptocurrency and blockchain ecology is rife with frauds, criminalities, and tulip-mania style hype and needs to be properly disposed of into the ashes of history. A “blockchain” is just a horribly inefficient append-only file which costs a literal fortune to secure without actually providing meaningful distributed trust, while cryptocurrencies are provably inferior than actual currencies for legal real world transactions. Beyond the sheer uselessness have emerged a whole host of bad ideas, ranging from the “put a bird^H^H^H^H blockchain on it” hype to unregistered (and mostly fraudulent) securities with “Initial Coin Offerings” to an invitation for massive theft in the form of “smart” contracts."
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* [Ross Anderson et al: Bitcoin Redux: crypto crime, and how to tackle it](https://www.lightbluetouchpaper.org/2018/06/01/bitcoin-redux-crypto-crime-and-how-to-tackle-it/) ([full paper](https://weis2018.econinfosec.org/wp-content/uploads/sites/5/2018/05/WEIS_2018_paper_38.pdf))- 2018-06-01 - Anderson is a Professor of Security Engineering at the University Cambridge. Bitcoin Redux explains what’s going wrong in the world of cryptocurrencies. The bitcoin exchanges are developing into a shadow banking system, which do not give their customers actual bitcoin but rather display a "balance" and allow them to transact with others. However if Alice sends Bob a bitcoin, and they’re both customers of the same exchange, it just adjusts their balances rather than doing anything on the blockchain. This is an e-money service, according to European law, but is the law enforced? Not where it matters. We’ve been looking at the details.
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* [Ross Anderson: Why Bitcoin is Not Cash](https://www.youtube.com/watch?v=p9HH_dFcoLc) - 2018-04-10 - 📺 walks through why bitcoin is not cash and the complex legal questions it would need to deal with if it wanted to be.
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* [Ross Anderson: Tracing Stolen Bitcoin](https://www.youtube.com/watch?v=UlLN0QERWBs) - 2018-03-23 - 📺
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* [Simon Wardley: A Spoiler for the Future of Bitcoin](https://blog.gardeviance.org/2013/11/a-spoiler-for-future-bitcoin.html) - 2013-11-27 - "As you can guess, I'm not a fan of bitcoin. If left unchecked then I find it has the potential to undermine the importance of Government which is actually not good for competition and not good for the market. I hope none of the above happens and would rather see bitcoin disappear in a puff of history." (NB: he predicts massive appreciation in bitcoin and is concerned how it can undermine government and tax revenue.)
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* Kai Stinchcombe series that discusses whether blockchain can solve various real world use-cases better than traditional technologies
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- [Kai Stinchcombe: Ten years in, nobody has come up with a use for blockchain](https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100) - 2017-12-23 - "Each purported use case — from payments to legal documents, from escrow to voting systems—amounts to a set of contortions to add a distributed, encrypted, anonymous ledger where none was needed. What if there isn’t actually any use for a distributed ledger at all? What if, ten years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?"
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- [Kai Stinchcombe: Blockchain is not only crappy technology but a bad vision for the future](https://medium.com/@kaistinchcombe/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec) - 2018-05-04 - "Blockchain is not only crappy technology but a bad vision for the future. Its failure to achieve adoption to date is because systems built on trust, norms, and institutions inherently function better than the type of no-need-for-trusted-parties systems blockchain envisions. That’s permanent: no matter how much blockchain improves it is still headed in the wrong direction."
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* [Cory Doctorow: When crypto-exchanges go broke, you'll lose it all](https://pluralistic.net/2022/02/03/liquidation-preference/#we-live-in-a-society) - 2022-02-03. Why state backed money is a good thing (a feature not a bug).
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> If you've spent much time around cryptocurrency people, you've probably heard a rant or two about "sound money" and the need to "depoliticize money." This is a foundation of blockchainism: the belief that money is born separate from states, and states invade on the private realm when they "meddle" in the money system.
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>
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> There are at least two serious problems with this ideology. First, it's plain wrong on the historical facts. Money did not emerge from barter systems among people. Money was and is a product of state.
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>
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> But even if you stipulate that money didn't originate among private markets there's another serious historical problem with "sound money." ... It's this: central banks didn't emerge to usurp the private sector's control over money. Central banks were created because without them, finance was subject to wild, terrifying, ruinous boom/bust cycles. What's more, without a central bank, money was subject to naked political meddling, which central banks (sometimes) moderated.
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* Internet pioneer/Silicon Valley legend Tim O'Reilly on Web3:
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- [Why it’s too early to get excited about Web3](https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/) - 2021-12-13
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- ["Get ready for the crash"](https://www.cbsnews.com/news/cryptocurrency-nft-blockchain-web3-tim-oreilly/) - CBS Money Watch - 2022-02-09
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- [Crypto and NFTs are "Pretty Serious Speculative Bubble"](https://decrypt.co/92676/internet-guru-tim-oreilly-crypto-nfts-serious-speculative-bubble) - 2022-02-10
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* [David Rosenthal: Can We Mitigate Cryptocurrencies' Externalities?](https://blog.dshr.org/2022/02/ee380-talk.html) - 2022-02-09. Having built a decentralized consensus system using Proof-of-Work (http://dx.doi.org/10.1145/945445.945451) the author has the technical knowledge to explain the design faults and limitations of permissionless blockchain systems, as well as highlighting the economic and environmental issues. Summary of critique:
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> * That the externalities I describe don't exist. You'll have a hard time proving that the waste of electricity and hardware, and the crime wave, are imaginary.
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> * That although the externalities do exist, the benefits of decentralization outweigh them. The problem here is that since the systems are not actually decentralized, we get the externalities but don't get the benefits.
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> * That although the externalities do exist, and the systems aren't dencentralized, they're making so much money that we shouldn't worry. The problem here is that the amount of actual money you can get out of a cryptocurrency equals the amount of actual money that has been put in, minus the actual costs of mining. So the big picture is that although there may be winners, in aggregate the system loses money.
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* [Economies of Scale in Peer-to-Peer Networks](https://blog.dshr.org/2014/10/economies-of-scale-in-peer-to-peer.html) - 2014-10-07. Network effects lead to centralization in p2p (e.g. Bitcoin) and no good way to mitigate this.
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* [Charlie Stross: Why I want Bitcoin to Die in Fire](https://www.antipope.org/charlie/blog-static/2013/12/why-i-want-bitcoin-to-die-in-a.html) - 2013-12
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* [The Maltese Falcon](https://privatebank.jpmorgan.com/content/dam/jpm-wm-aem/global/pb/en/insights/eye-on-the-market/the-maltese-falcoin.pdf) - critique of bitcoin and financial properties of crypto assets from the CIO of JP Morgan bank. 2021-02-10
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### Economists
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* Paul Krugman [Technobabble, Libertarian Derp and Bitcoin](https://nytimes.com/2021/05/20/opinion/cryptocurrency-bitcoin.html) - 2021-05-20
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* Joseph Stiglitz [Nobel Prize Economist Joseph Stiglitz Calls Regulators to Ban Cryptocurrencies](https://deep-resonance.org/2021/10/28/nobel-prize-economist-joseph-stiglitz-calls-regulators-to-ban-cryptocurrencies/) - 2021-10-28
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* Yanis Varoufakis [What is money, really? And why Bitcoin is not the answer (even if blockchain is brilliant & potentially helpful in democratising money)](https://www.yanisvaroufakis.eu/2021/08/02/what-is-money/) - 2021-08-02
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* Stephanie Kelton [Cryptocurrency and Fiat Money](https://www.youtube.com/watch?v=84wTEf9Acik) - 2017-12-23
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* Tyler Cowan [What the Crypto Crowd Doesn't Understand About Economics](https://www.bloomberg.com/opinion/articles/2021-06-21/what-the-crypto-crowd-doesn-t-understand-about-economics) - 2021-06-20
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* Richard Thaler [Economics Nobel prize winner, Richard Thaler: “The market that looks most like a bubble to me is Bitcoin and its brethren”](https://econews.pt/2018/01/22/economics-nobel-prize-winner-richard-thaler-the-market-that-looks-most-like-a-bubble-to-me-is-bitcoin-and-its-brethren/) - 2018-01-22
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* Various ['Only good for drug dealers': More Nobel prize winners snub bitcoin](https://finance.yahoo.com/news/good-drug-dealers-nobel-prize-winners-snub-bitcoin-184903784.html?ref=hackernoon.com) - 2018-04-27
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* Robert Shiller [The Old Allure of New Money](https://www.project-syndicate.org/commentary/cryptocurrencies-scientific-narrative-by-robert-j--shiller-2018-05?barrier=accesspay) - 2018-05-21
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* Abhijit Banerjee [Nobel Prize Winning Economist Abhijit Banerjee: Is Blockchain the Key to Financial Inclusion?](https://blockchain.news/news/nobel-prize-winning-economist-abhijit-banerjee-is-blockchain-the-key-to-financial-inclusion) - 2020-01-20
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* Steve Keen [Cryptocurrencies, Debt, and the Economy: Steve Keen interviewed by Layne Hartsell](http://www.koreaittimes.com/news/articleView.html?idxno=103792) - 2021-02-17
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* Amartya Sen [Prannoy Roy's Townhall With Amartya Sen On Economy, Farm Laws: Full Transcript ](https://www.ndtv.com/india-news/prannoy-roys-townhall-with-amartya-sen-on-indian-economy-farm-laws-full-transcript-2385071) - 2021-03-06
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* Jeffrey Sachs [Famed economist Jeffrey Sachs rails against Bitcoin: Highly polluting and ‘almost like counterfeiting’](https://fortune.com/2021/03/16/bitcoin-jeffrey-sachs-critiques-btc/) - 2021-03-16
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* Paul Krugman [Technobabble, Libertarian Derp and Bitcoin](https://nytimes.com/2021/05/20/opinion/cryptocurrency-bitcoin.html) - 2021-05-20
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* Tyler Cowen [What the Crypto Crowd Doesn't Understand About Economics](https://www.bloomberg.com/opinion/articles/2021-06-21/what-the-crypto-crowd-doesn-t-understand-about-economics) - 2021-06-20
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* Yanis Varoufakis [What is money, really? And why Bitcoin is not the answer (even if blockchain is brilliant & potentially helpful in democratising money)](https://www.yanisvaroufakis.eu/2021/08/02/what-is-money/) - 2021-08-02
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* Daron Acemoğlu [The Bitcoin Fountainhead](https://www.project-syndicate.org/commentary/bitcoin-an-appealing-distraction-by-daron-acemoglu-2021-10?barrier=accesspay) - 2021-10-05
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* Joseph Stiglitz [Nobel Prize Economist Joseph Stiglitz Calls Regulators to Ban Cryptocurrencies](https://deep-resonance.org/2021/10/28/nobel-prize-economist-joseph-stiglitz-calls-regulators-to-ban-cryptocurrencies/) - 2021-10-28
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* Richard Thaler [Economics Nobel prize winner, Richard Thaler: “The market that looks most like a bubble to me is Bitcoin and its brethren”](https://econews.pt/2018/01/22/economics-nobel-prize-winner-richard-thaler-the-market-that-looks-most-like-a-bubble-to-me-is-bitcoin-and-its-brethren/) - 2018-01-22
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* Yanis Varoufakis [Yanis Varoufakis on Crypto & the Left, and Techno-Feudalism](https://the-crypto-syllabus.com/yanis-varoufakis-on-techno-feudalism/) - 2022-01-26
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* Tyler Cowen [The Crypto Crash Strengthens the Case for Crypto](https://www.bloombergquint.com/gadfly/crypto-crash-strengthens-case-for-crypto-s-long-term-future) - 2022-01-27
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* Jesse Frederik [Blockchain, the amazing solution for almost nothing](https://thecorrespondent.com/655/blockchain-the-amazing-solution-for-almost-nothing/84495599980-95473476) - 2020-08-21 - "Blockchain technology is going to change everything: the shipping industry, the financial system, government … in fact, what won’t it change? But enthusiasm for it mainly stems from a lack of knowledge and understanding. The blockchain is a solution in search of a problem."
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* [Vice: ‘Crypto Ruined My Life’: The Mental Health Crisis Hitting Bitcoin Investors](https://www.vice.com/en/article/akvn8z/crypto-bad-for-mental-health) - 2022-02-16 - The stress and anxiety that goes with funneling your life savings into a volatile market is no joke.
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* [Ed Zitron: Solutions That Create Problems](https://ez.substack.com/p/solutions-that-create-problems) - 2022-02-22 - [The thing about Web3 is that it is uniquely useless. I have actively searched for an explanation as to why it's the future, what products it would allow us to build, what sort of *good* it would provide, and I cannot even at my most optimistic find a real use case](https://twitter.com/edzitron/status/1495891031979704321)
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### Ponzi aspect
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@ -65,9 +109,10 @@ Awesome critique of crypto/web3, etc. Contributions are welcome.
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### Crypto and energy consumption
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* https://digiconomist.net/bitcoin-energy-consumption
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* https://newyorker.com/news/daily-comment/why-bitcoin-is-bad-for-the-environment
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* [Bitcoin Energy Consumption Index](https://digiconomist.net/bitcoin-energy-consumption)
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* [Why Bitcoin Is Bad For The Environment](https://newyorker.com/news/daily-comment/why-bitcoin-is-bad-for-the-environment) - 2021-04-22
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* [Energy power usage CryptoArt, ETH, Blockchain spreadsheet](https://docs.google.com/spreadsheets/d/1hzzxMbytOZ1mYl9kLh_SvM6kne6JI_mdCfHIoNapr5M/edit#gid=0)
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* [How Do We Solve Bitcoin's Energy Problem?](https://www.theguardian.com/technology/2022/jan/30/how-do-we-solve-bitcoins-carbon-problem) - 2022-01-30
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### Scams/frauds
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@ -91,7 +136,7 @@ Non-fungible tokens.
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* [OpenSea, Web3, and Aggregation Theory](https://stratechery.com/2022/opensea-raises-money-bans-nfts-openseas-value-cryptos-aggregators/) - 2022-01-05 - Ben Thompson of Stratechery
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* [Brian Eno on NFTs & Automaticism](https://the-crypto-syllabus.com/brian-eno-on-nfts-and-automatism/)
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* [Detailed twitter thread by @NFTEthics alleging fraudulent or close to fraudulent behaviour by a major NTF influencer named BeanieMaxi ](https://twitter.com/NFTethics/status/1483051289022017538) - 2022-01-17 ([cached](./assets/Thread by @NFTethics re beaniemaxi.pdf))
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[The Problem With NFTs. Documentary by Dan Olson, Folding Ideas.](https://www.youtube.com/watch?v=YQ_xWvX1n9g) - 2022-01-21
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* [Jacobin: NFTs Are, Quite Simply, Bullshit](https://jacobinmag.com/2022/01/nfts-fallon-paris-hilton-bored-ape-digital-imagery-commodification) - 2022-01-26
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### Specific use cases
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@ -112,10 +157,12 @@ Whilst these users may not solely discuss crypto or web3, they do discuss it reg
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* https://twitter.com/molly0xFFF
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* https://twitter.com/smdiehl
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- [Crypto Criticism Threads](https://gist.github.com/sdiehl/7706ef44d951a2025fd658d1dd8687af)
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* https://twitter.com/rufuspollock
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* https://twitter.com/troll_lock
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* https://twitter.com/CasPiancey -"Under promise, under deliver" co-host @cryptocriticpod *opinions are mine, not my employer* odds and ends @protos hold no crypto or crypto stonks
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* https://twitter.com/BennettTomlin - I do data science and track down frauds | 74% backed | Co-host @CryptoCriticPod | Writing @fud_letter | Discord: https://discord.gg/YpAUqNkhSC
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* https://twitter.com/SilvermanJacob (staff writer New Republic) & https://twitter.com/ben_mckenzie - "apparently I now write about crypto"
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* https://twitter.com/doctorow
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### Tether, and other stablecoins
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@ -130,13 +177,25 @@ Whilst these users may not solely discuss crypto or web3, they do discuss it reg
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* [Money and Payments: The U.S. Dollar in the Age of Digital Transformation](https://www.federalreserve.gov/publications/money-and-payments-discussion-paper.htm) - provides a high level overview of the current state of central bank and private sector currencies in the US, and identifies risks and challenges with the implementation of a central bank digital currency. From the paper summary: "The paper summarizes the current state of the domestic payments system and discusses the different types of digital payment methods and assets that have emerged in recent years, including stablecoins and other cryptocurrencies. It concludes by examining the potential benefits and risks of a CBDC, and identifies specific policy considerations."
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### Trading/Market Microstructure/Security Risks
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* [Quantifying Blockchain Extractable Value: How dark is the forest?](https://arxiv.org/abs/2101.05511) - Qin et al., 2021. Technical paper characterizing and quantifying miner extracted value on Ethereum's DeFi smart contracts.
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* [High-Frequency Trading on Decentralized On-Chain Exchanges](https://arxiv.org/abs/2009.14021) - Zhou et al., 2020. Technical paper detailing the "front-running" that occurs on Ethereum.
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* [An Anatomy of Bitcoin Price Manipulation](https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin-price-manipulation/) - Matt Ranger, 2022. Speculative analysis of centralized cryptocurrency exchange market data to support a price manipulation hypothesis.
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### Religious angles
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#### Christian
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* [What you should know about Bitcoin](https://www.thegospelcoalition.org/article/faqs-know-bitcoin/) by Joe Carter. A well-researched, accurate introduction to Bitcoin from a Christian perspective, 2017-12-27.
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* [Ask the Economist: Should a Christian Invest in Bitcoin?](https://www.thegospelcoalition.org/article/christian-invest-bitcoin/) by Greg Phelan, 2021-10-27.
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---
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## What is blockchain/web3 etc
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Best intros/overviews of blockchain, crypto, web3 etc.
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* [There's No Good Reason to Trust Blockchain Technology](https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/) - June 2, 2019 by Bruce Schneier
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* [On Blockchain and Trust](https://www.schneier.com/blog/archives/2019/02/blockchain_and_.html) - February 12, 2019 by Bruce Schneier. The article also appeared on wired.com as [There's No Good Reason to Trust Blockchain Technology](https://www.wired.com/story/theres-no-good-reason-to-trust-blockchain-technology/).
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- [The Myth of Decentralization and Lies about Web 2.0](https://www.emilygorcenski.com/post/the-myth-of-decentralization-and-lies-about-web-2.0/) - 2022-01-07 by Emily Gorcenski
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* http://kernel.community - A custom web3 educational community with free learning resources at https://kernel.community/en/learn/
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@ -206,6 +265,8 @@ This is a section for links that haven't yet been reviewed and/or allocated to a
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Pros
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* [BanklessDAO: State of the DAOs #7: Social Tokens and the Future of Work](https://banklessdao.substack.com/p/state-of-the-daos-7-social-tokens) - 2022-01-13
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* [Scanning the European Ecosystem of Distributed Ledger Technologies for Social and Public Good](https://publications.jrc.ec.europa.eu/repository/handle/JRC121675) - Oct 2020 - by Samer Hassan and colleagues
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* Twitter thread: https://twitter.com/samerP2P/status/1317123399295041541
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### Other suggestions
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@ -0,0 +1,3 @@
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version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:7218bc78dcf97f8614598befdec90b8c2098353fae0bb80bd890663b046b2da0
|
||||
size 492080
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:0f7f7d78a6430f85357a17141570605156ba95ff40fd7502af3f1bf698a608ca
|
||||
size 677695
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:2e27976c0d8171c8250b1752aeda4a182edd14510f9dc52527ce5b46a2272b88
|
||||
size 1218208
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:4cc7457cff882d40a78e68f821dc8e8efcb46f02a2a4a6c36979d643ebdcdefa
|
||||
size 168446
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:84eceedfe85053e2fc649ac02432babeb6a4ef7998505ae4bac3eb785f31f2ca
|
||||
size 4057513
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:7c744561e889752dcea1768b9ac2c236c04d9cf48477bfc6b729bfa88a3ba0cb
|
||||
size 2671122
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:6e804370115e9a4c0e92f8c4a5f5260139f85bb78ee6ecef8272bc82c5786347
|
||||
size 1609545
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:7b9aa22bd0d477c5a56b011df2560a651fb9e6dca7dbf2980e1cb84f99a68dc4
|
||||
size 431184
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:d11a19cd2ee3dbae243b09731e45af6917e7a37224912ce5c21963d7bd45afcf
|
||||
size 2607172
|
||||
|
|
@ -0,0 +1,3 @@
|
|||
version https://git-lfs.github.com/spec/v1
|
||||
oid sha256:ad2c2b4b43f35f9c04b28f1c02bec025dee14dd58c9c68396b7b5dbd7857743b
|
||||
size 885818
|
||||
|
|
@ -0,0 +1,20 @@
|
|||
# DAOs
|
||||
|
||||
DAO = distributed autonomous organization (originally coined as distributed autonomous corporation but may have had legal issues)
|
||||
|
||||
https://ethereum.org/en/dao/
|
||||
|
||||
https://ethereum.org/en/dao/#dao-comparison
|
||||
|
||||
![[Pasted image 20220119225539.png]]
|
||||
|
||||
# DAO creation platforms
|
||||
|
||||
* Aragon
|
||||
* DAOHaus
|
||||
* Colony
|
||||
|
||||
# References
|
||||
|
||||
* [A comparative analysis of the platforms for decentralized autonomous organizations in the Ethereum blockchain](https://jisajournal.springeropen.com/articles/10.1186/s13174-021-00139-6) (2021) - good overview with useful data on usage and types of dao
|
||||
* [Overview of Decentralized Autonomous Organization (DAO)](https://mirror.xyz/0xd8159c4DD43FEe99FA86D0BAaCA7a9cC33334864/9_OrgL3oSGZrRn90NsnSOmzB8XvxBgR1Lsu_yqo2MYU) (June 2020)
|
||||
|
|
@ -0,0 +1,7 @@
|
|||
# Democracy.earth
|
||||
|
||||
![[Pasted image 20220120225045.png]]
|
||||
|
||||
Why does it always involve some kind of financialization?
|
||||
|
||||
![[Pasted image 20220120225319.png]]
|
||||
|
|
@ -0,0 +1,28 @@
|
|||
# diatom.fund
|
||||
|
||||
https://diatom.fund
|
||||
|
||||
> Diatom is a decentralized currency that grows more valuable as our ocean is measurably restored and protected. Members of the DAO vote on projects that restore ocean health and expand our buying power to do so.
|
||||
|
||||
# Analysis
|
||||
|
||||
This is where they explain the model: https://medium.com/@diatomdao/plastic-reduction-credits-prc-whitepaper-pt-3-3-26f6bde1ad34
|
||||
|
||||
![[Pasted image 20220117221812.png]]
|
||||
|
||||
So ... imagine this was simply a company
|
||||
|
||||
* It sells share to investors ...
|
||||
* It uses the money to fund removal projects
|
||||
* It accumulates plastic removal credits (PRCs) which are proof of plastic removal
|
||||
* It sells those to companies or others who want to see plastic removed who retire them
|
||||
|
||||
Why does it need to be on blockchain? Other than this is a place you can (currently) raise (incredible amounts of) money from investors (in an unregulated way) ...
|
||||
|
||||
Note that in their follow on "How It Works" the financial aspects come first ...
|
||||
|
||||
![[Pasted image 20220117222844.png]]
|
||||
|
||||
### Who is backing it?
|
||||
|
||||
Looks like this back by Brock Pierce (though not absolutely certain).
|
||||
|
|
@ -0,0 +1,7 @@
|
|||
# hive.io
|
||||
|
||||
## Came out of Steem after Steem taken over by TRON
|
||||
|
||||
https://cryptobriefing.com/what-are-steem-hive-comparison-both-decentralized-content-blockchains/
|
||||
|
||||
https://medium.com/dapp-com/steem-out-how-hive-blockchain-became-the-decentralized-social-future-after-hard-fork-1754fe2f45a9
|
||||
|
|
@ -0,0 +1,15 @@
|
|||
# Hypha.earth
|
||||
|
||||
Team building [[SEEDS]]. Looks like they are doing a fund-raising round in early 2022 seeking $10m raise at $100m valuation (afaict from [the deck](https://assets.hypha.earth/decks/hypha_pitch_deck.pdf))
|
||||
|
||||
|
||||
![[Pasted image 20220120220845.png]]
|
||||
|
||||
|
||||
## Members
|
||||
|
||||
https://dho.hypha.earth/#/members
|
||||
|
||||
## Pitch Deck
|
||||
|
||||
![[hypha_pitch_deck.pdf]]
|
||||
|
|
@ -0,0 +1,80 @@
|
|||
---
|
||||
aliases: SEEDS
|
||||
---
|
||||
|
||||
# Seeds
|
||||
|
||||
Created by [[hypha.earth]].
|
||||
|
||||
0:32 into the intro video:
|
||||
|
||||
> [Climate crisis, financial system that does not prioritize rights things etc] ... Seeds offers a solution, a movement that allows us to share financial success, distribute value fairly and move towards a common vision of a thriving civilization. Seeds gives humanity the tools to reimagine what money can be and do. A financial ecosystem designed to regenerate our planet. ... a more equal and abundant world ... using cutting edge technology ... no costs to using it and in fact you use it the more value you create ...
|
||||
|
||||
![[Pasted image 20220120214330.png]]
|
||||
|
||||
## Commentary
|
||||
|
||||
Aspiration sounds amazing (as often)
|
||||
|
||||
Here's the detailed PDF with their tokenomics https://joinseeds.earth/pdf/Token-allocation-and-economics.pdf (GDoc version: https://docs.google.com/document/d/1w7CKE73860m9bRxAmeLSIPvfcWHPlYXdJUYP29VIzME/edit#)
|
||||
|
||||
Still struggling to understand how they guarantee distributing value fairly etc. Have scanned entire doc and most of it is about the initial token distribution etc (where so far they have raised around $1.2m)
|
||||
|
||||
Key other doc is the SEEDS Guide: https://docs.google.com/document/d/1C4w9Ol8VGabCIcQDVPDrwcTRoJXBqhrb7VjslwQbUGU/edit#heading=h.sz7ectlzru6d - this is the full "rules of the game". It is a 175 pages long!
|
||||
|
||||
Key questions
|
||||
|
||||
* Why are seeds worth *anything*? What can you use them for? (how do you earn them)
|
||||
* Why are they trading on exchanges if it is an internal currency?
|
||||
* Why does the top of their site advertise the price appreciation (see screenshot) if that is not the key point?
|
||||
* How do they ensure a more equitable economy going forward?
|
||||
* How does it ... (quotes from p.15 of [SEEDS Guide](https://docs.google.com/document/d/1C4w9Ol8VGabCIcQDVPDrwcTRoJXBqhrb7VjslwQbUGU/edit#))
|
||||
* > SEEDS provides a decentralised (actually by-the-people) alternative to centralised governments.
|
||||
* > SEEDS provides a decentralised (actually by-the-people) alternative to centralised banking.
|
||||
|
||||
|
||||
Key info
|
||||
|
||||
* 3k participants as of Mar 2021 / 5k as of May 2021 according to gdoc / pdf
|
||||
* Currently trading at 7c which is down
|
||||
|
||||
|
||||
|
||||
|
||||
### Built on Telos
|
||||
|
||||
> In contrast, SEEDS is a DApp (decentralized application) built on top of the Telos blockchain, which has its own Block Producers. Because SEEDS doesn’t have its own blockchain, it doesn’t experience this constant sell pressure.
|
||||
|
||||
### Go Live Event ...
|
||||
|
||||
> SEEDS is unique because it doesn’t allow those who have earned tokens by being part of the build team to sell their tokens until after the ‘Go Live’ event. Due to the nature of the Go Live event, at this point, there will be a global economy of organisations willing to accept Seeds as a currency (or the network wouldn’t “Go Live”). So, profits can be realized by making purchases using the Seeds currency itself, rather than requiring exchange (sale) for another financial tool to facilitate their purchase.
|
||||
|
||||
Definition of Go Live event
|
||||
|
||||
> This event will be triggered by a SEEDS community vote and is not anticipated until late 2021 or into 2022. Hypha does not know when this event will take place. This is the moment where development of SEEDS is feature-complete (in line with the Constitution and Game Guide), the community and economy is thriving, and everything is ready for the members to take full control of the ecosystem and start the economic protocols designed to stabilize the value of each Seed. Go Live will require a series of targets to have been reached, including but not limited to: 1. SEEDS contracts passing robust economic and security audits and tests; 2. fully operational decentralized governance over every aspect of SEEDS; 3. N number of organisational allies; 4. N number of Residents and Citizens; 5. N number of regions represented; 6. N monthly Organisation and Member growth rate; 7. a USD to Seeds price floor of at least $0.80 per Seed; 8. N daily volume (liquidity) for Seeds across all exchanges. These targets “N” will be defined and ratified by the SEEDS Citizens before Hypha’s final milestone (Q3/Q4 2021) through decentralized governance. Once these targets are reached, the Citizens can activate ‘Go Live’ through a vote.
|
||||
|
||||
### How to ensure fairness (??)
|
||||
|
||||
> Before ‘Go Live’, the majority of Seeds will be given to people participating in a variety of campaigns and actions to create a more beautiful society. These members may capture the benefit of rising token value as the network matures.
|
||||
>
|
||||
> Then, after ‘Go Live’, Seeds will be distributed in a more equitable way than any previous or current financial system, one that is directed towards financing and incentivizing the regeneration of our planet.
|
||||
|
||||
And they then reference another location
|
||||
|
||||
> Note: These protocols are discussed further in the [SEEDS White Deck](https://docs.google.com/presentation/d/1YhS62BjTgfj3LKMKqPK0PKirkXykIrGhg7-0Ksw3N9Y/edit?usp=sharing), part 3 and 4 of the [SEEDS Game Guide](https://docs.google.com/document/d/1C4w9Ol8VGabCIcQDVPDrwcTRoJXBqhrb7VjslwQbUGU/edit#heading=h.sz7ectlzru6d) and favored article: [A regenerative financial system for a thriving global civilization](https://medium.com/joinseeds/a-regenerative-financial-system-for-a-thriving-global-civilization-eebecead5b43)
|
||||
|
||||
### Who's behind it?
|
||||
|
||||
> Hypha: A Decentralized Holonic/Human Organisation (DHO) helping build SEEDS.
|
||||
|
||||
...
|
||||
|
||||
> Hypha may sell up to a total of 5% of the initial Seeds supply. The reason for this small distribution is to ensure the majority of tokens are earned by, and gifted to, those who are healing our planet and communities. Hypha (the organisation helping build SEEDS) does not own SEEDS. Hypha does not own the initial supply of Seeds tokens. It is the Citizens of SEEDS who are in control of how, if, and when these Seeds are distributed. For each milestone, if the SEEDS Citizens agree that Hypha has reached the stated targets, it can release the next round of tokens for Hypha to sell, and so finance Hypha’s continued involvement in the SEEDS project.
|
||||
|
||||
### Risks
|
||||
|
||||
> Hypha as a young company depends on generating adequate funding for the development and expansion of the business. Should Hypha not be successful in generating adequate funding, e.g. in the event of failure of receiving more tokens from SEEDS or direct investment, there is a risk that Hypha cannot develop and expand its business operations as planned and as the case may be has to wholly or partly cease its business operations or even declare itself insolvent. Such a development could have a lasting negative effect on the usability or intrinsic value of the SEEDS Token until they become useless or worthless. However, with SEEDS being a publicly available network - the community has the ability to continue developing SEEDS without the need for Hypha.
|
||||
|
||||
## References
|
||||
|
||||
* https://medium.com/joinseeds/why-you-want-to-accept-seeds-3a3e1a861467
|
||||
|
|
@ -0,0 +1,7 @@
|
|||
---
|
||||
aliases: [Panvala]
|
||||
---
|
||||
|
||||
# Panvala League
|
||||
|
||||
![[Pasted image 20220119224910.png]]
|
||||
|
|
@ -0,0 +1,51 @@
|
|||
# Uniswap
|
||||
|
||||
Original and one of the largest [[AMM|Automated Market Maker]]s.
|
||||
|
||||
|
||||
|
||||
# Critique
|
||||
|
||||
# https://otherinternet.notion.site/Uniswap-Research-Report-Discord-Governance-Community-eb545f60b0ba4c30af066ca1a855e0fe
|
||||
|
||||
Bigger underlying questions
|
||||
|
||||
> These challenge illustrate a larger problem: **the fundamental tension between the pressure faced by Uniswap Labs to have a coherent and competitive product offering, and its aspiration to create a thriving community culture.**
|
||||
>
|
||||
> Uniswap's protocol, and the product offerings built on top of it, are widely used in the crypto space, driving a need to provide a high quality user experience on the product and support front. This is compounded by prominent forks such as Sushiswap, which additionally place Uniswap Labs under significant competitive pressure. But **treating community members as _end-users_ conflicts with the desire to treat them as stakeholders, discussion participants, or governance leaders.** This conflict is visible in the Discord where support crowds out other conversations, but also in the fragmentation of stakeholder types across different platforms, as we address in the next section.
|
||||
>
|
||||
> Other crypto projects attempting to [progressively decentralize](https://variant.fund/progressive-decentralization-a-playbook-for-building-crypto-applications/) are likely to face similar problems on their journey. The conditions around a retroactive distribution or other early phases of decentralization matter greatly in setting precedents for participation and space use.
|
||||
|
||||
...
|
||||
|
||||
> Membership in the UGP Slack allows grantees to access influential community members and major token-holders by virtue of being in this chat, and governance discussions often take place here in private. While there is not a specific emphasis on community development within the Slack, the smaller member number and opportunities for repeated interactions over time have created an environment where respectful and meaningful discussion can take place.
|
||||
|
||||
...
|
||||
|
||||
> If an "autonomous" community cannot be created without leadership and direction, ultimately Uniswap Labs must ask itself: what kind of community does it want to have? What should the community orbit around, and why? There are many possible directions this may take. A community of DeFi traders or developers is one opportunity; a thriving culture of governance participants or [public goods](https://otherinter.net/research/positive-sum-worlds/) builder-stewards is another. Each will require its own form of leadership, advocacy, and community development.
|
||||
|
||||
## https://dilendorf.com/resources/uniswap-an-illusion-of-decentralization.html
|
||||
|
||||
> A deeper analysis of Uniswap and its Governance Protocol yields a multitude of questions that suggest the platform may not be as decentralized as advertised. As an initial matter, the Uniswap team provided the community with 60% of the genesis supply of UNI tokens (1 billion) while giving themselves, investors, and advisers the remaining 40%.
|
||||
|
||||
...
|
||||
|
||||
> Moreover, as previously mentioned, Uniswap Labs has now released 3 versions of the Uniswap platform–the latest in May of 2021. The updated platform allows liquidity providers to set minimum and maximum prices on their portion of any given liquidity pool, otherwise known as “concentrated liquidity,” and allows different pools to be created with different fees.
|
||||
>
|
||||
> In essence, the Uniswap team made changes to the Uniswap platform unilaterally, without submitting these changes to the same governance process as any other proposal. The team simply kept the previous version of Uniswap running and dressed up Uniswap v3 as a brand-new platform.
|
||||
>
|
||||
> How is this any different from a central party having authority and control over a network so as to dictate the future value of that network’s native token? And what is to stop Uniswap community members from believing Uniswap Labs will continue to release updated versions of the platform, regardless of how the community votes to change the current protocol?
|
||||
|
||||
### De facto centralization
|
||||
|
||||
> Reaching these totals is no easy task. And as more votes are spread across more delegates, the goal of achieving the required quorum becomes increasingly difficult. What is more, the issue of low voter turnout only adds to this difficulty. What results is a largely inefficient system where governance proposals seldom make it to the proposal stage; and, when they do get past the 1% threshold, rarely make it past the 4% quorum required to pass them.
|
||||
>
|
||||
> On the other hand, several Ethereum addresses have accumulated a significant amount of UNI tokens by way of delegation. These addresses, also known as “whales,” act as proxies for UNI holders who do not want to vote themselves but trust the given address to vote in the best interest of the protocol and Uniswap community.
|
||||
>
|
||||
> These whales include several major platforms such as Compound, Gauntlet, and Dharma, and many prestigious Universities, including Harvard Law, UC Berkley, Stanford, and MIT. Each of these addresses holds more than 2.5 million UNI tokens, with the largest holding up to 15 million. Can the governance protocol be described as decentralized when only a few addresses can team up and unilaterally change the protocol or governance treasury?
|
||||
|
||||
### Control by Uniswap labs
|
||||
|
||||
> Additionally, Uniswap Labs announced on Twitter that they have started restricting access to a number of tokens at app.uniswap.org, stating “[t]hese changes pertain to the interface at app.uniswap.org – the Protocol remains entirely autonomous, immutable, and permissionless.” It is quite ironic that the Uniswap Labs team asserts that the Protocol remains autonomous, immutable, and permissionless in the same tweet they announced they will be restricting access to tokens.
|
||||
|
||||
How can the Uniswap team have control over the User Interface (UI) and access to tokens but claim that the platform is “entirely” decentralized? Is it even possible to have a decentralized network when the UI is controlled by a central authority?
|
||||
|
|
@ -0,0 +1,5 @@
|
|||
# YogaCoin
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
@ -53,4 +53,7 @@ Uniswap is iterating to favor "professional players":
|
|||
## References
|
||||
|
||||
* https://academy.binance.com/en/articles/what-is-an-automated-market-maker-amm
|
||||
* https://twitter.com/HideNotSlide/status/1386358389240958977 - someone getting excited about not having transparent market makers as if this is something innovative but what about e.g. https://en.wikipedia.org/wiki/IEX
|
||||
* https://twitter.com/HideNotSlide/status/1386358389240958977 - someone getting excited about not having transparent market makers as if this is something innovative but what about e.g. https://en.wikipedia.org/wiki/IEX
|
||||
* https://www.bis.org/publ/qtrpdf/r_qt2112v.htm - good brief overview from BIS. Note interesting footnote (no 2):
|
||||
§
|
||||
> The AMM trading mechanism shares similarities with the framework of Shapley and Shubik (1977), which ensures market-clearing. See L Shapley and M Shubik, "Trade using one commodity as a means of payment", Journal of Political Economy, vol 85, no 5, pp. 937–68, and H S Shin, "Comparing the robustness of trading systems to higher-order uncertainty", Review of Economic Studies, vol 63, no 1, pp. 39–59.
|
||||
|
|
|
|||
Loading…
Reference in New Issue