A virtuous & positively reinforcing culture ("social layer") is ever more critical for communities without checks and balances like crypto

It's the only recourse to crypto's default state of "will be evil because no one gives a fuck" 

(Relying on extra-crypto mechanisms as with SBF should not be an excuse)

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

If you instead address those problems with contractual standards that prevent those concerns: e.g. designed to prevent rugs, then you create a social norm through market forces of adoption to disincentivize bad projects, because _not_ using the safeguards is a red flag.

In cryptography, there exists variants of multi-party computation that have "identifiable aborts" – where a bad actor is immediately identified and stopped before they can do harm. Many harms in the decentralized world (read: not FTX, that was a CEX) happen from the contractual design of tokens being too permissive.

The default state is, “there will be evil because it’s permissionless.” Plenty of people care, but the point is anyone can use it. While virtue is a nice to have, I don’t think it’s as critical as vigilance or education on the social layer.

I am sick of the moral rot that has become pervasive in crypto. Unfortunately it also seems to be self-reinforcing, especially on Twitter. People actively pursue evil ends, cheered on by mobs of no-thought nihilists. And anyone who speaks against it is booed. 

Perhaps this platform can model a better way. 

100 $DEGEN