Loomio
Wed 20 Feb 2019 10:34AM

The Bell courve, a Pyramide Scheme?

H Hemdrup Public Seen by 173

https://blog.goodaudience.com/rewriting-the-story-of-human-collaboration-c33a8a4cd5b8

i love the general mission. But, this part made me a bit question it.

People can give ETH to a project, which is then converted into a [x] token. Which then people exert energy completing a the mission earns. Then they can convert the token back into back into the donated ETH. That's great!

But! This part I don't get.
That the donate ETH to gets some tokens, which is then used and gamble like a stock market. Then it seems to me, that we are back to the ICO nightmare where people try to increase the fictional value of a token. To scam others to buy it.. #buymybitcoin otherwise it's worthless.

  • With the increase in value, then it also becomes more expensive to donate? / the value of the donation is declining.
JE

Jeff Emmett Tue 5 Mar 2019 11:27AM

The problem with Patreon is that the value flow is still largely one directional: from patron to artist. There may be some small exclusive access perks to that artist's work, but the system we are building would allow for contributors to receive concrete value from their contribution in the form of membership tokens issued from the bonding curve. This token gives them fractional ownership, agency, governance, and even potential monetary incentive from whatever cause they are investing in - presumably one they believe in.