progressively decentralized Lion

I'm migrating my twitter usage to @Dandelion_eth. I started that account for my NFT collecting, and wound up finding more fun and community with the new account, so I'm deprecating @decentralion. Feel free to follow me there, or not :)

@lex_node Yes, but as the cost of legal enforcement grows, the thing may “become” legal as a matter of pragmatic convenience Sue these 3 founders = cheap charismatic enforcement Sue 5000 miners in many jurisdictions = fruitless whack-a-mole Easier to just decide it’s not a security

@decentralion they're not unenforceable though a government can still sue or prosecute people on the social layer; shutting down a smart contract is not the only possible legal remedy and thus smart contracts being 'unstoppable' is not a perfect defense against laws

Governance tokens, done right, have a lot of intrinsic value and are a game-changer. I do worry that 'done right' & intrinsic value also makes them more securities-like utility and MoE tokens but I am also optimistic. Here's why.

@lex_node Are unenforceable laws still laws? If the king says tsunamis are illegal, does it change the sea?

@decentralion that's sufficient decentralization for security purposes, not legal purposes

@lex_node Decentralization vs centralization is a trade off btwn agility and resilience writ large. But, can resolve by encoding the “when to pay vs when to stockpile” logic into the smart contract rather than human gov Eg look at @reflexerfinance using a PID controller for RAI policy

@decentralion that really limits agility though--what if the collective actually thinks it's a better move not to distribute those profits out for a while? immutable automation has pros and cons...

@lex_node Also imo, sufficient decentralization for these purposes == there’s no one you can threaten to sue to make it stop. Some DAOs are closer than others

@lex_node Imo it will become “truly” a DAO when this capital return mechanism is autonomous via gov minimization, eg smart contract auto buys+burns with x% of protocol revenues, w.o. ongoing intervention

@lex_node This part is a big assumption—in practice, returning capital to gov token holders is a popular governance action. (And, imo, not inappropriate)

Assume it was crystal clear that the capital in the smart contract will never be distributed to TWEET holders--there are no dividends to TWEET holders, no TWEET buybacks, etc.

@META_DREAMER The idea that we “solved” scalability is a little rich... much as a crypto participant must be, in order to afford gas atm

dotcom bubble took 10 yrs to recover, only when physical infra for internet was ready and smartphones allowed for mass distribution Cryptos problem is scalability, but software is much easier to deploy globally vs hardware We solved it in 4 years instead of 10. Ain’t no bubble

@divinedre11 7+8 => take 3 out of the 8 to make 10 => 5 left over, carry one 2+4+1 = 7 75

Wall Street practices industry-level hazing, and it's called investment banking

Things I Would Do as President of the US (not boring) 1. Aggressively weaponize immigration. Just brain drain the world as aggressively as possible. You're 24 yo estonian with a PHD in materials science? Congrats ur a citizen in 7-10 business days. You like baseball now.

Fun fact, doing acid is what got me into crypto. Just one of many life benefits! XD

Acid shill is right. Everyone should do acid at least once per day

@AdrianRicard0 Our current economic reality, where most value accumulated in abstract & fungible counters like shares and bonds, is a pretty big deviation from historical norm (think of ancient wealth—a hoard of non-fungible treasures) Betting on reversion, but with a cryptoecon twist

@AdrianRicard0 Currently, our economic abstractions depend on commodification. Much easier to track commodities in a spreadsheet. We warp reality to fit our maps NFTs give a convenient economic primitive for non-commodities

NFTs will lead to de-commodification

@dcinvestor what did you think of algobots?

elements of a high quality on-chain generative art #NFT set: - aesthetics - novelty / innovation - overall set coherence - meaningful diversity in the set - proper collection size to engage an appropriate collector base - artist renown - inspiration for subsequent artists / work

Is anyone working on good ways to finance NFT purchases e.g. with CDPs? Feels like we need a standard that lets one entity "own" the NFT but another one "bear" it. Kind of like registrant/controller distinction in ENS

All the most valuable things in life are non fungible ✨

This is very important to understand When close friends are like “I never believed that they could do [horrible thing]” it’s because they saw the explicit self and missed the hidden cognition