Thread by @panekkkk

1/ Most don't know this but every tx in $EOS must include a hash of the EOS Constitution.

This binds users to the constitution and failure to include it may be grounds for invalidating a tx. 🤦‍♂️

Here is the most recent draft: bit.ly/2IYjqVa

$BTC $ETH

2/ The 1st draft was written by -- wait for it -- block.one's VP of Product: bit.ly/2L8kYca

Some highlights...

3/

I. No lying. No user of this blockchain shall make knowingly false or misleading statements, nor statements that constitute discrimination or harassment, nor profit thereby.

If you lie about your age anywhere ever you will be in violation.

4/

IV. Voter Independence. No Member shall offer nor accept anything of value in exchange for a vote of any type, including for Block Producer candidates, Amendments or Worker Proposals, nor shall any Member unduly influence the vote of another.

Riiiiiiighhhttt.....

5/

V. No Owner or Fiduciary. This EOS Blockchain has no owner, manager or fiduciary. It is governed exclusively under the terms of this Constitution.

He who creates the constitution therefore governs it.

6/

VI. 100% Ownership Cap. No Member nor any Beneficial Interest shall own more than 10% of issued tokens.

Laugh. Out. Loud.

7/

VII. Agreement to Penalties. Each Member agrees that penalties for violations may include, but are not limited to, fines, account freezing, and reversal of transactions.

Who is the judge and jury?

8/

XVII. Choice of Law. Choice of law for disputes shall be, in order of precedence, this Constitution, the Maxims of Equity, and the laws of Malta.

What in the actual living f@&!?

9/

- Why is B1 drafting the constitution for all EOS chains?
- Who decide who drafts the constitution?
- How are changes made?
- How is a final draft agreed upon?
- How is it enforced?
- Were any lawyers involved?
- Is this a joke? It's gotta be a joke right? Right!?

Various threads on constitution can be found here:

forums.eosgo.io/categories/eos…

10/

Note that 10% cutoff level is set right at the amount of tokens publicly owned by block.one. Coincidence?

eos.io/faq

This is not governance.

11/

This underscores the challenges of governing a protocol not designed to be permissionless:

i) constitution
ii) monitoring
iii) adjudication
iv) penalization
v) arbitration

all require large-scale coordination of mental and financial resources.

12/

Whereas permissionless protocols pass no judgement and let existing societal laws handle the above, EOS has decided to recreate large pillars of society.

With no direct financial incentive for these services, I suspect such a model will quickly devolve. Scope. Creep.

13/ Links (if you want to avoid shortners):

forums.eosgo.io/categories/eos…

forums.eosgo.io/discussion/424…

github.com/EOSREAL/EOSREA…

This comes to mind:

southpark.wikia.com/wiki/Cartmanla…

14/ $EOS official documentation states that the software *enables* a constitution (doesn’t say it requires one).

If any $EOS folks want to clarify:

Is this version intended for the “main” chain? If so, why is B1 involved?

github.com/EOSIO/Document…