cryptoleft

you (address) own (token) the means of production (peer to peer software)

Amplifying https://warpcast.com/feven/0xfe084030

Devil’s advocate in crypto. Previously @rainbow. Global head of Macro at West Ham Capital. Provisional dictator /cryptoleft

It’s not completely there. As most tokens are more like stocks or even SPACs, and since they are centrally issued it’s definitely not the case that token holders own the means. but governance tokens are closer. they’re somewhere between voting stocks and cooperative ownership. And ETH validators are like workers in a cooperative bank (albeit one that doesn’t give loans but only issues currency and secures it)

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I agree on all of that. Hyperstructures and governance limiter/governance-less protocols are beautiful. But I see no reason they couldn’t be consumer cooperatives if they collect any fees. 

Also, in a way a hyperstructure of uniswap could be seen as a worker cooperative where the LPs are the workers and earn the fees accordingly. Although it’s a bit more like a profit share with Uniswap Inc being the capital owners and LPs being the employees.

I’m just saying that in the parlance of owning the means of production, many tokens are not even tangentially related. They are literally a commodity good being traded on markets and token holders are just traders aka capitalists.

Absolutely not, but it is prefigurative and the tech can easily be implemented in such a way that it is actually so. Also I believe there are truly ownerleess vendine machines that are perfectly fine to exist as token-based vending machines  (instead of worker co-ops). I'm talking edified hyeprstructures