Vitalik Buterin
@vitalik.eth
The risk of politician coins comes from the fact that they are such a perfect bribery vehicle. If a politician issues a coin, you do not even need to send *them* any coins to give them money. Instead, you just buy and hold the coin, and this increases the value of their holdings passively. Furthermore, there is deniability: holding the coin is, in financial effect, a linear combination of donating to the issuer and gambling. Hence you can intend to do the former but when challenged claim that you are doing the latter. You can even hold the coin privately, and show that you are holding it to whoever; you do not need any zero knowledge proofs, you just send a test transaction. This is all risky to democracy, for reasons similar to what I wrote in https://vitalik.eth.limo/general/2021/08/16/voting3.html and elsewhere. TLDR: the economic arguments for why markets are so great for "regular" goods and services do not extend to "markets for political influence". I recommend politicians do not go down this path.
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J. Valeska 🦊🎩🫂
@jvaleska.eth
did not recognize you instantly with the new image and after reading first lines.. it was.. like.. who is this smart caster.. 😅 you are right, this is a very easy way to bribe them and they could create more complex schemas too where all the profit flows to the politic instead to a "decentralized" open pool.. hard to fight with that.. without a law.. but guess what, trump is not going to ban his own coin.. or create any law.. there is another extra point, what is the bribers threats the politic with sell the coin... this is not for small bribers but for big buyers I guess..
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