Vitalik Buterin pfp
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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accountless.eth pfp
accountless.eth
@accountless.eth
politicoins polady
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m_j_r pfp
m_j_r
@m-j-r.eth
considering the counterweight to plutocracy is sybil-resistant or market-based, can assembly/gathering coins counteract politician coins?
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Chinmay ๐Ÿ•น๏ธ๐Ÿฟ pfp
Chinmay ๐Ÿ•น๏ธ๐Ÿฟ
@chinmay.eth
Are you suggesting that all politicians are banned from launching memecoins? If so, how about lobbyists or news reporters? Where do we draw the line?
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J. Valeska ๐ŸฆŠ๐ŸŽฉ๐Ÿซ‚ pfp
J. Valeska ๐ŸฆŠ๐ŸŽฉ๐Ÿซ‚
@jvaleska.eth
did not recognize you instantly with the new image and after reading first lines.. it was.. like.. who is this smart caster.. ๐Ÿ˜… 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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Icetoad ๐ŸŽฉ ๐Ÿ• ๐ŸŽถ ๐Ÿˆ ๐Ÿ’š pfp
Icetoad ๐ŸŽฉ ๐Ÿ• ๐ŸŽถ ๐Ÿˆ ๐Ÿ’š
@icetoad.eth
Well said. Such a disgusting trend that likely isn't going away any time soon. As if scams and drifting via memecoins weren't bad enough already. Sigh.
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aferg pfp
aferg
@aaronrferguson
Yeah pretty clearly a very bad president
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gogol on meth (๐Ÿ”ต,๐Ÿ”ต) pfp
gogol on meth (๐Ÿ”ต,๐Ÿ”ต)
@gogol
We need more people like you Vitalic, thanks for standing always in favour of the common sense.
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Alex pfp
Alex
@asenderling.eth
It seems like the same would go for most business ventures, including WLFI. Trump is a unique case in that he isn't even pretending to divest himself this go around, and we're already seeing opportunists, like Justin Sun, overtly attempting to bribe his way out of trouble (and it seems to be working).
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Adam pfp
Adam
@adam-
Agree with the dangers and the precedent set, and a net negative for the space. Having said that I feel itโ€™s inevitable. The question then becomes, will there be lasting reproductions for those who use use it for this purpose? In America, not likely.
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Brown pfp
Brown
@crimsonking
I had a โ€œdiscussionโ€ about this with my father. I worry about the future.
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jon pfp
jon
@jonbray.eth
it's obviously problematic in a lot of ways, but how are any of those things any worse than a politician holding any token? it seems that if anything, it's preferable for them to openly (or assumedly) have a branded token that way there's at least somewhere to look if you're investigating things like bribery especially compared to just holding a large percentage of any given long-tail tokenโ€”particularly ones without a vesting scheduleโ€”where the financial effects on any individual investor or holder is magnified, price is easier to manipulate, and potential laundering is harder to track
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highplains.base.eth ๐ŸŽฉโœจ๐Ÿ”ด pfp
highplains.base.eth ๐ŸŽฉโœจ๐Ÿ”ด
@highplains66
America needs to overturn Citizens United asap! Everyone can agree on this.
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Jeff Excell ๐ŸŽฉ pfp
Jeff Excell ๐ŸŽฉ
@jeffexcell
Well put.
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Fran dโ€™Amore pfp
Fran dโ€™Amore
@ffran
No politician should see a financial benefit or have a conflict of interest with executive orders being passed. Simple as that.
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Cool Beans ๐ŸŒž pfp
Cool Beans ๐ŸŒž
@coolbeans1r.eth
Hitter.
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