Oh @dan
@dan @dan @dan @dan @dan @dan @dan @dan @dan
In a press release shared with CryptoPotato, Larimer noted that his new vision, dubbed Fractally, will deliver the original EOS vision of 2017 to the modern crypto market.
Gee, I thought EOS was supposed to be the original vision of EOS.
No No No... this time is different!
Uh, huh... sure bud.
According to Larimer, the new project will be built on the lessons he has learned from his previous ventures, including one of the first and highest performance decentralized exchanges, BitShares, and the first decentralized social media, Steem.
Right, what happened to Steem again?
Larimer noted that Fractally will produce an EOS-based application that is “just as powerful and even easier to use while also incorporating more recent advancements in automated market makers.” In a recent tweet, he stated that Fractally will become “the DAO of DAOs.”
Oh so you're going to make the DAO of DAOs, eh?
Does that mean it will be a DAO that controls other DAOs?
Also known as imperialism?
Probably not... he probably just means it will be the best DAO, but I like to spin the words to fit my own narrative because I'm a troll.
What was the problem with Bitshares?
- Bad token distribution; poor UX.
What was the problem with Steem?
- Bad token distribution; poor incentives.
What was the problem with EOS?
- Bad token distribution; poor incentives.
What was the problem with Voice?
- Bad token distribution; poor incentives / KYC.
In all cases @dan builds a thing and then it spirals out of his control so he starts over on something else. Gee, I wonder how this one will end up.
Steem was one of the top social media platforms at the time because it rewarded users for posting. Fractally will build on the updated model of Steem’s social reward structure to bring incentivized blogging to EOS while reducing the potential for abuse.
Why blogging?
Seriously why? Blogging is trash. Irony noted.
There are so many other forms of communication that need to be explored, but instead he's going to mash Bitshares, EOS, and Steem all into one and hope for the best? Good luck, sir.
Even if he airdrops all the most decentralized communities (which would include Hive, somehow)... it still wouldn't matter. Many would dump the token. Many would centralize the asset by pumping billions into it just like they did with EOS. Every time he starts another project he loses a little more credibility, but I can't blame him. Builders gotta build.
@dan is a worldbuilder
He's like George Lucas: terrible at characterization and storyline and a cohesive thread... really good at building worlds. Great Macro, terrible Micro. Learn to Starcraft, bro! Stop spaying and praying and learn to focus fire.
(He's not going to do the thing.)
Earlier in 2021, Larimer and his team tested the process of fractal governance by creating Eden on EOS and hosting three elections that involved hundreds of people. According to the EOS co-founder, the experiment was considered successful by both hosts and participants.
Okay... so is that one to one voting or coin voting?
https://edeneos.org/
Looking at the Eden website I found this amazing picture of Dan looking exactly like a character from Succession... and I don't even watch that show (the GF loves it though). How are you going to convince people you're a champion of the people in a photo with your hands crossed (unapproachable / self-righteous / rigid) looking all smug... literally looking down on everyone from what I assume is a high-horse? Seriously though is the photographer taking a knee? This picture is amazing. I still haven't read his book. @foxon did though. That was a fun time.
My last post on @Dan was a mixed bag.
What a wild ride that was. He even left a comment on my blog. I'm a very special pleb, after all. Seriously though that post was insane it's worth a looksee.
Violet.garden, an EOS-based blogging application, allegedly utilized the uniqueness of Eden users to implement the Universal Basic Income practice on EOS.
As a violently left-wing radical, I love the idea of UBI.
It's great. It's the only way we are going to get past this phase of automation where the robots are taking all the jobs and whatnot. The problem with UBI is that the theory never meshes up with the practice. Plus, it's impossible to stop a Sybil attack (one person masquerading as multiple people to get multiple incomes).
In theory, UBI coins have great value because everyone is using them. They have amazing network effect. We've seen this play out many times in crypto. Giving away money often generates more value than it extracts. This is why airdrops are so common.
However, once the airdrop goes out and everyone knows about the project, there are massive diminishing returns to just keep airdroping everyone at infinitum. The first airdrop had a purpose: get people excited and involved and spread awareness. Anything past that is useless. Welcome to the attention economy.
In practice, UBI is just a socialist subsidy for poor people... which again, I think is great, especially in the context of crypto where human corruption can be automated out of the system. The problem is getting it to actually work.
Who's going to actually buy the token?
That's the thing with UBI: everyone dumps it.
Not only that: everyone knows it should be dumped.
Deep within our minds we know that buying a token that's being permanently airdropped on a community is a fool's errand.
Thus we end up with a situation where constant downward pressure is placed on the asset and the only thing propping it up are the subsidizers. The only way to actually make a UBI work is to implement it long after the network has generated income in a dozen other places... and even then I'm skeptical.
Eden OS is a unique governance process that leverages the wisdom of the crowds to identify the best community representatives in a manner that has as its goal the avoidance of devolving into party politics, popularity contests, or incumbent advantage.
What if the crowd has no wisdom?
Blah blah blah blah blah
Is this one-to-one voting or not?
Also it's hilarious to me that these guys think they can stop people from being tribalist. The language itself is just riddled with fairytale rainbow gumdrops marketting. I'd love to be wrong, to be sure, and am very interested to see the final product.
Eden OS is the “operating system” of this community and it governs how community members are added and removed as well as how community funds are allocated to representative members.
So it's a permissioned system.
This is actually kind of cool because I've thought about ways to build video games that would stop people from exploiting the economy with bots... and a permissioned system like this is one of the easiest ways to do it. Does it have the stink of centralization attached to it? Sure, but we are not looking for perfect solutions. They only have to be good enough to actually work, just like Bitcoin itself.
Can anyone from any Country join Eden on EOS?
Yes, as long as English is the language used for all of your correspondence, you can join the Eden community, and live anywhere in the World.
Yikes... no comment.
https://edeneos.org/#section-hiw
Found it!
So this is the basis of "Fractional Democracy".
A bunch of users are put into random groups, and they select the representative that advances to the next group. Then the level 2 group does the same thing, randomly placed in sub-groups and select the next representative to move to the higher echelon.
Again, I find this intriguing.
@dan always does well with the game-theory (obviously). It will be very interesting to see how this works on a larger scale.
Analysis
@dan is at it again.
I have to give him credit: he never quits; which is awesome.
Competition?
Many would see this as competition to Hive.
Especially with the blogging element in play.
It is absolutely not.
Crypto and open source tech can't compete.
Think about it.
We're already writing blogs... yeah? So cross-post them to the new platform, and scoop the UBI while your at it. Then dump it all for more Hive: that's what I'll be doing anyway. If it's even worth my time, that is.
It's all about distribution.
And obviously a new project is ALWAYS going to have a shit distribution. That's just how it is. It takes time to build these things up and equalize the stake across the platform. Again, Hive is lightyears ahead of most projects in this regard. New projects can't compete with a community that's been around for years. Hive is in the hands of people who aren't going to dump and are actively engaged in the community. New projects don't even have a community and have to build them from the ground up in a painstaking manner.
Actually this is quite good for all DPOS networks.
Anything that normalizes DPOS is good. Anything that tries to make governance more equitable is great. If it succeeds, everyone wins. If it fails, we all learn something.
AMM DEX + DPOS + UBI + BLOGGING
Honestly when you list it all out it sounds pretty damn good. But again the result will never live up to the hype. When you hear the claim, "We solved toxic tribalism"... Yeah, they didn't though. This is something that needs to be proved over years of live testing.
Money money money
Again, this is not the vibe of someone who's going to bat for the little guy. This is what investors want to see because cha-ching dollar dollar bills yall. Just as a reminder: @dan's net worth is like DOUBLE the ENTIRE MARKET CAP of Hive. Pretty wild eh? Even at these higher Hive prices he controls double the value of our entire network combined. Think on that for a bit. Clearly, money can't buy everything. If that were the case Billionaires like Jack Twitter would have unleashed their White Savior Jesus Complexes to save us all by now.
What if it works?
Then... everyone wins?
If this Fractional Democracy idea works then... look at how simple of a system it is. There's nothing about it that can't be implemented on any and all platforms (especially DPOS platforms). The reason why it won't work is because democracy is stupid. People are stupid, and putting random people in charge of their own fate? Is stupid. We already know this. Sad, but true.
I do not condone the use of the word 'retarded' in this context!
Sorry had to get my lefty points for the day in there somewhere.
Now that I think about it, I already had this idea...
A fractional democracy is something I actually already came up with in a blog I wrote years ago. Let's see if I can find it... something to do with... CAPTCHA no doubt... and blockchain gaming...
CAPTCHAIN
January 2019
Selection
Clients do not get to choose which CAPTCHA puzzle they are required to solve. There will be a long list of available CAPTCHAs determined by the community (nodes). When a client is prompted to solve a CAPTCHA they send a request to receive one.
So yeah... this idea that we should randomize selection to prevent tribalism and popularity contests from happening is not a new one. It's a good idea... sort of. We'll see... lol.
Conclusion
At the end of the day no one has any reason to actually trust @dan at face value at this point. He needs to prove himself after creating an abandoning half a dozen major projects. I hope he succeeds in his quest, because that would be amazing for the entire cryptoverse.
Remember when he was building EOS and everyone on STEEM thought EOS was going to be a massive threat and complete in ways that STEEM wouldn't be able to handle? "Downvoted for aggrandizement," LOL. Yeah, what happened then? A big nothing. Now he's left EOS and the EOS community is talking about forking out Block.One entirely. Hive has already cut out the premine; we good.
Are randomly chosen subsets of people equipped to govern themselves properly? Democracy says 'yes', but I remain skeptical. No matter what happens from all of this it will be a very valuable life lesson no matter the outcome, so pay attention to FRACTALLY; one of the worst brand names ever (not worse than STEEM).
Let's see if we can come up with a better name on the fly:
- Specter (because it's governance on a spectrum)
- Motto: "It's time we ghosted imperialism."
- Further wordplay available with 'spec' via "specialization".
- Also "spectrum": "Governance on the human spectrum."
- What's cooler? A powerful ghost or a fraction/layers/math?
- Don't answer that, it's a rhetorical question.
- Alternate motto: "Governance is no longer a spectator sport."
- Clear winner.
Nailed it.
Looks like I'm exponentially better and this than @Dan. Came up with a better idea in less than a minute. Small victories. Too bad it's not a competition.
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Return from Fractally: Dan Larimer Refuses to Learn His Lesson to edicted's Web3 Blog
