While $DOGE makes me queasy for what happens after this parabolic rise, there's a part of me that's also amused.
As the world gets increasingly automated, stripping humans of our meaning from work, we turn more to self-reflection (on the absurdity & wonder of life).
Different forms of art provide this self-reflection, and similar to @EpsilonTheory's recent post on #Bitcoin , $DOGE (with Elon's help) is making its own artistic statement on society.
If it makes you sick, it might be doing its job.
To that end, this is the fairest report I've seen on $DOGE:
Notable: "An enormous portion of circulating DOGE has moved in the last year—more than 60% of the coins’ total supply. This indicates a significant transfer of coins from older holders into the hands of newer entrants."
Doubt these are 💎 hands.
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Right now it’s murmured that “decentralized governance” slows down decision-making.
What if that’s a temporary truth?
Perhaps we haven’t standardized the right forms of “distributed governance” that accelerate group decision-making through flexible consensus rules.
Watching some of the boutique investment DAOs — which can out execute traditional investment firms due to lightweight gov structures 👀 — this distributed & accelerated decision-making is already possible in some contexts.
While “fair distribution” is a normative judgment, it flows from what we see as a consensus belief within crypto: creating level playing-fields where everyone has a chance at financial sovereignty.
If a small group of insiders regularly take ~half of the fully-diluted upside (which is common), we’re seriously kneecapping the redistributive effects of this technology in order to make a handful of people obscenely rich.