crypto

Many crypto people are lately hyping Futarchy, but they aren't telling you it can be manipulated by the wealthy, is speculative, and oversimplifies complex issues using the market. 

Why don't they mention the ethical dilemmas?

1/2

Humanist, lovepunk, engineer, experience producer, musician, angel. DAOs since ‘16. Experimenting with human protocols, trust networks & decentralized societies

Oh, right, they need the hype since prediction markets are finally getting attention due to @Polymarket.

But seriously, who thinks good outcomes for a whole community can come from the market?

Obviously, the outcomes will benefit the wealthy. It isn’t that hard to see it.

2/2

The way I see it, prediction markets are one side of the coin in cybernetic governance. They need to leverage democratic decision making for them to make any sense. DAOs need to step up to that challenge.

As in of course you cannot let gamblers decide policy outcomes, but they can be useful for informing the decisions of more democratic collectives.

For example a common criticism of DAOs is voter apathy, but with prediction markets you can fix the incentive structure for higher participation.