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DAO Community Counters Vitalik Buterin As He Writes Off Transferable Governance

Ethereum founder Vitalik Buterin has aired his view about transferable governance, pointing out that power-hungry individuals are not eligible to lead. He argued that the idea of transferable governance tokens in decentralized autonomous organizations (DAOs) contradicts the essential reason for DAOs existence.

This highlights the dilemma between giving freedom to voluntarily delegate decision power and giving power to a specific few.

Buterin Expresses Concerns Over Transfer Of Governance

The Ethereum founder noted that the transfer of governance can give those desperate to acquire such power the opportunity to do so.

However, while some people have seen important points from his tweets, some opposed his opinions.

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While replying to Buterin’s post, a Twitter user Muki stated that delegation of decision power is inevitable. The community member argued that it’s impossible to expect everybody to participate in decision-making. He added that a voluntary delegation of decision power is better than not participating at all or making uninformed decisions.

Another Twitter user Willyogo stated that wanting to rule people and holding transferable governance tokens are two different things. But the community member admitted that there is still room to improve the DAOs when it comes to voting systems.

Transferable Governance Could Improve Decision Processes

Another Twitter user Vagobond supported the idea of fully recallable delegates, saying it’s a way forward. The idea creates a way to automatically drop the delegates and remote their authority when they do not represent the interest of those that delegated votes to them.

Some users preferred the use of blockchain-based technologies such as picking vital positions in a DAO through verifiable randomness. In another suggestion by a community member, there should be a random selection of token holders with the option of rotating them when they fail to carry out any on-chain activity.

Web3 adviser Hilary Kivitz discussed DAO at the recently concluded Ethereum Community Conference in Paris. He provided insights on the best way to fight off takeovers in the DAO. He stated that one of the feasible solutions is to add poison pills to smart contracts, which can dilute the votes of exploiters.

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Bitcoin Washout Is Over, Analysts Say

Is the Bitcoin washout (a.k.a. dump) over? These analysts think so.  Covered: Bitcoin Washout Supercycle In Full Swing Bitcoin Washout Bitcoin is doing better lately, but as some have pointed out, not everyone is ready to dive back in. The hesitancy is understandable. A lot of pundits are calling for another leg down before Bitcoin::Listen

Is the Bitcoin washout (a.k.a. dump) over? These analysts think so. 

Covered:

  • Bitcoin Washout
  • Supercycle In Full Swing

Bitcoin Washout

Bitcoin is doing better lately, but as some have pointed out, not everyone is ready to dive back in. The hesitancy is understandable. A lot of pundits are calling for another leg down before Bitcoin (and crypto for that matter) can head down. Bitcoin and stock analysts Stock Money Lizards disagree.

And, they have for a little while now.

“We are really in massively oversold territory, so we believe in a mere technical rebound as well, rather than in exact repeating numbers,” Stock Money Lizards said all the way back on July 10th.

Some in their mentions questioned whether they were drinking the Kool-Aid, especially with CPI data looming over Bitcoin.

“I question the relation between the the hikes in mid and long term. There has been no link in the past (you find some TA on twitter for this). If we look at the short term, it may have an effect, but which HODLer will be impressed by this,” Stock Money Lizards said.

Looks like they might have had a point. July saw a slow melt up. August has been the same so far.

But, last September we saw a pretty big drawdown. However, Stock Money Lizards believe we’ve seen a washout that’s comparable historically with previous bull cycles.

Bitcoin Washout: Supercycle In Full Swing

As you can see in the above charts, the similarities between 2019 and 2022 are striking. Based on these charts it appears Bitcoin has made it through the hardest part.

“Final market washout happened again (-43%). Supercycle in full swing. BTC bullish,” Stock Money Lizards said. 

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For more of Stock Money Lizards, check out their official site and Twitter.

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The post Bitcoin Washout Is Over, Analysts Say appeared first on CryptosRus.

DAO Community Counters Vitalik Buterin As He Writes Off Transferable Governance

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