for the same reason that governments are not efficient at spending money
I think the thing I am most worried about is 3. I have yet to see an NFT related project spend monies efficiently.
Shit Punk Says
Oceans of Wisdom
20,678
matching drops
#1574220
2026-10-24 20:01
that drop the prices consistently high
there are a few whale believers
i think they are clearing at like 5? the initial clearing prices always struck me as ahead of the project's maturity
current bid .01 with 5 hours left
so we will discuss it all together
but it is part and parcel with the overall approach
i think i have a solution i am willing to test
so the solution has to avoid all the traps:
1. underfunding the team needed to run the show (classic public goods, open-source issue)
2. centralizing funding
3. 'spending other people's money' inefficiently
i mean they have a lot of money still I think but the mojo is a bit shaky
is nouns dao defunct?
and also I am used to operating lean
and they did because it is not exactly coming out of their pockets"
and was like "well, I wouldn't have spent that much money for that"
and I would look at the proposals that got approved
i think over 20,000 ETH
much more than we ever had
so they had this massive pile of ETH
everyone gets the money
nobody gets the money
all the mint revenue goes to a group treasury (leave aside regulatory issues for a second)
he was in the right direction
so 4156 had an interesting idea
which can happen when you don't feel that it is exactly your money
IMHO they overspent on things
Nouns DAO was interesting in a different way
so you get this light drama that is happening
EF can't keep up with all
he can't keep up with all
different interests
many stakeholders
but obviously ETH is much bigger than Vitalik now
Vitalik is very smart
and good
and that is fine
but it is very stylistically Vitalik
I have no problem with the EF
what we see in Ethereum is a different form of weakness of a centralized foundation
it might have not worked
if it was not for the fact that some core devs got rich off BTC
to the people who make BTC better
only a tiny % of the BTC community contributes
is 'tragedy of the commons'
what you can learn from BTC
BTC underfunds its developers
all the current models out there sortof suck
I think the hardest part of the 'white paper' or 'tokeneconomics'
it is very interesting, complex
and we have to figure out how the network ensures the network develops
in the future we should not take in the meme revenue
of we keep some of the meme revenue and take on a variety of responsibilities
so this comes in with a package