Always seems highly incongruous that any system proposing to challenge much of anything is built on a system of volunteers. Even Communism was better than this: “to each according to his ability”. The issue becomes that cryptocurrency appears to be a late capitalist expression that systematically derives market value from individuals that are disenfranchised and alienated. I’ve seen it performed systematically and it disgusts me.
The vision behind many of these platforms is thin at best and were it not for the contributors, they would have gotten nowhere. People need to demand not only just compensation, but a removal of this form of servitude. Reasonable firms vest you with the upside prospect of the company, and even then they are quite unsure. It seems at times cryptocurrency has brought out the absolute worst of human nature.
Then again, when I was going to launch my stablecoin, widely told I am sitting on absolute gold, I was hard-knuckling it: trying to only have VCs buy 1% of the token distribution. I consider it an inverse of “Occupy Wall Street”. Multiple major projects over the past year have raised and then implied partnerships and incentivizing firms over the longer term, when in reality it is mostly false and fraudulent advertising, they take your hard work and it becomes a process of recentralization, especially when you unexpectedly begin to challenge a core value proposition, often cryptographic competency and the “build-on-us” mentality. It seems at the highest levels there is little room for alturism, which is unfortunate given the incompetency of investing this space has shown.
Creates natural frictions and coordination issues, that will fray rather than build many communities, and compromise their ability to source talented and motivated people without feeling fundamentally threatened. The market value for any of these skills is inherent, and we need the smartest people we can find. If cryptocurrency wants to be the revolution it proposes, these are among the first challenges that must be remediated or the entire system will come to be seen as charlatans with far worse corporate behavior than any Investment Bank would ever have dared to dream of.
Related: Arrow Information Paradox