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Bear markets bear fruit
Bull markets bring bullshit
As we enter the next crypto bull market, it’s more important than ever for this industry to self-regulate.
And that requires taking a stance, increasing transparency, and creating industry standards.
Time for a thread
Bull markets bring bullshit
As we enter the next crypto bull market, it’s more important than ever for this industry to self-regulate.
And that requires taking a stance, increasing transparency, and creating industry standards.
Time for a thread
1/ Most of the crypto community appears to identify as libertarian (myself included), yet most are walking evidence why there’s so few libertarian utopias in the world.
2/ Entirely unregulated free markets lead to exploitation, abuse, and fraud IF the market cannot overcome self-interest & self regulate.
To summarize Emmanuel Kant on the categorical imperative “What if every project rugged their token holders?”
To summarize Emmanuel Kant on the categorical imperative “What if every project rugged their token holders?”
3/ A lack of industry standards that market participants are willing to stand up for, therefore leads to hurt, and hurt leads to delegation of regulation to centralized authority.
While not wrong to pursue justice, we’re straying quite far from what we set out to build. https://twitter.com/prestonjbyrne/status/1302610570122792962
While not wrong to pursue justice, we’re straying quite far from what we set out to build. https://twitter.com/prestonjbyrne/status/1302610570122792962
4/ Sushiswap has been an easy scapegoat to place blame and highlight poor ethics this week.
But what about the projects that are spending ICO money frivolously as if it’s their own?
What about the projects that are more busy trading and farming with project funds than building?
But what about the projects that are spending ICO money frivolously as if it’s their own?
What about the projects that are more busy trading and farming with project funds than building?
5/ Unfortunately, it’s not a question of which project has done so, but rather a question of which project hasn’t done so.
Sure, investors were getting into an internet token backed by nothing
You owe them nothing you might think
It’s not a question of can you, but should you.
Sure, investors were getting into an internet token backed by nothing
You owe them nothing you might think
It’s not a question of can you, but should you.
6/ This industry has changed many of our lives.
So to the Bankless Nation out there I say in the words of JFK:
“Ask not what your industry can do for you, ask what you can do for your industry”
So to the Bankless Nation out there I say in the words of JFK:
“Ask not what your industry can do for you, ask what you can do for your industry”
7/ Here’s a few pointers that any project aiming to be decentralized should take to heart:
- Fully transparent treasury management
- Properly decentralized governance (that’s neither sybil prone nor a mere plutocracy)
- Doing right by your token holders
- Fully transparent treasury management
- Properly decentralized governance (that’s neither sybil prone nor a mere plutocracy)
- Doing right by your token holders
8/ Here’s a few pointers that digital asset investors should take to heart:
- You don’t have to be the one to pull the rug to carry fault. Participating & promoting **** is just as bad
- Allocating to bad behavior/short term games encourages more of the same. Vote with your money
- You don’t have to be the one to pull the rug to carry fault. Participating & promoting **** is just as bad
- Allocating to bad behavior/short term games encourages more of the same. Vote with your money
9/ If we as an industry can’t run a tight ship, don’t be surprised when parens patriae steps in.
10/
Step 1: Don’t detract value.
Step 2: Carry your own weight.
Step 3: Help raise the standard.
Step 1: Don’t detract value.
Step 2: Carry your own weight.
Step 3: Help raise the standard.
11/ A great example of this is seeing funds step in to create checks and balances between projects and token holders. I’m looking forward to seeing @arca & @gnosisPM work this out and make the industry look good.
I & the @hartmanncap team are focusing more on activism ourselves. https://twitter.com/jdorman81/status/1303417453662199808
I & the @hartmanncap team are focusing more on activism ourselves. https://twitter.com/jdorman81/status/1303417453662199808
12/ This movement of working towards a decentralized world is too important to be slowed or tainted by short term games.
Together we can write history, make the world a better place, and still make a fortune.
Just give it time or you may lose the first two chasing the last.
Together we can write history, make the world a better place, and still make a fortune.
Just give it time or you may lose the first two chasing the last.
