If you haven’t already been made aware, uniswap, a popular decentralized exchange APPARENTLY finally got tired of getting their idea ripped off (but being done so in a better fashion because of the implementation of a “governance token”) and decided to FINALLY step up and make it a feature of their own platform.
Now; aside from the point UNI (and MOST governance tokens) have relatively no value (aside from the tradable one on exchanges) for the AVERAGE user of crypto who will most likely not use (or understand the features of governance) I’ll try to explain why else this was a stupid decision for the crypto space as a whole.
And I will do so by relating it to something else the crypto verse and many other people have been talking about lately, government stimulus and state sponsored inflation. In the not too recent past there were a flood of articles here on Publish0x as well as pretty much any other news or blog site about government stimulus plans, speculation about future inflation running rampant because of “money printers going brrrrrrrrr” and in many instances within the crypto space we seemed to think we are some how better than that?
just a reminder...
the US government gave out a hand out of 1200 to everyone, uniswap just did that and then some (depending on price changes) to so many people as well (in some instances people being able to claim MULTIPLE UNI air drops)... when eth, and btc forked (all the times they have) or XMR, or DASH... what I’m getting at is when a fork happens, we basically, in the crypto community, are doing something very similar to what governments do when they flip on their printers, and start making brrrrrr noises with their fiat.
I guess my point in writing this is sort of two fold, it is I guess to remind us users of crypto that we are not so much better than the governments that are printing money for no reason and biased on nothing... at this point in crypto, we are basically doing the same thing, we’re not better, not anymore, now we’re just a different, more high tech version of “the same ol same ol”
to give some food for thought moving forward for people who write TA’s or newbies thinking of entering the markets, when we print fiat money, in the position of the global economy that particular fiat becomes weaker... what do you believe will happen to the overall prices of other coins as more forks and tokens are able to be blinked into existence by the millions at 3$ a pop... like I said, just food for thought...
always be learning and thinking y’all!
(3 days after UNI)