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ManuAlzuruš„
@manu
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
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Trigs
@trigs
I don't get it. Futarchy is just a name a guy put on an idea a long time ago. Actual futarchy doesn't even exist and is just a theoretical example of a different way to form consensus and examine outcomes? It's like saying DAOs don't work. Well, nobody's actually built one yet. We're just throwing shit against the wall to see what sticks. A system built off the ideas of futarchy doesn't have to be a plutocracy or even have anything to do with money. Sounds like you just don't like polymarket (which has nothing to do with futarchy) š
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ManuAlzuruš„
@manu
:/ sounds like you are making assumptions without knowing what Iām talking about. Btw I have nothing against Polymarket or anything, Iām just mentioning them since they have been the only prediction market app that works. If you were at the Uniswap GG house in Healdsburg and just on twitter youāll understand why Iām saying this. A lot of people want to create prediction markets for governance within DAOs and I donāt think is good.
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ManuAlzuruš„
@manu
And regarding what you said about futarchy having nothing to do with plutocracy or outcomes based on money then I donāt know what are you referring to since the main definition is to vote with your money. ChatGTP says: Futarchy is a form of governance proposed by economist Robin Hanson, where policy decisions are made based on prediction markets rather than traditional democratic voting processes. The idea is to combine elements of democracy and market mechanisms to create a more efficient and effective decision-making process. In a futarchy, the general public would vote on broad goals or values (e.g., economic growth, environmental sustainability, public health). Once these goals are established, prediction markets would be used to determine which policies are most likely to achieve these goals. Participants in the prediction markets would buy and sell shares based on their expectations of the outcomes of different policies, and the policies predicted to perform best would be implemented.
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