When token economics turns bad

in #bitcoin4 years ago

So far we have seen token economic systems that are designed to give self-serving positive benefits for the users of the network. Positive feedback loops where token holders provide a service to the network which increases the value of the network overall thereby increasing the value of the token.

This positive behavior aspect is not required by any law. Sooner or later we will see incentive systems designed to bring about subversive behavior. Maybe some would argue a particular cryptosystem is bringing about some change that only a minority agree is needed. A token system that rewards bad behavior, where monetary reward is given to push a certain agenda.

A decentralized system that has no single point failure, is all well and good when you are counteracting the current corrupted systems of governance. But when a decentralized system is co-opted into a system for doing harm, what answer are we going to have to bring that system down?

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This is a great point but I do hope this may not happen but already probably is.

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