Optimal Governance

2019-02-08T00:40:04.000Z Honest Cash

On Twitter, Alex Van de Sande (@avsa) tweeted

*I think *@Cent* is very cool, but I worry they might just be the next reddit. Here’s how we can prevent that and create a social media community that outlives any particular platform or company: https://beta.cent.co/+u8rqom*

Dmitry asked what’s wrong with Reddit, and avsa replied that it’s owned by a single corporation.

I spent my money on avsa’s story. If you scroll down it and look at the replies, the first one you’ll see is by Matthew 吾馬太 (@matthew). Why is his reply at the top? It’s because I spent my money on it.

This is how Cent works. We use our money to rank the content. This really isn’t how Reddit works. It isn’t how Twitter works. It isn’t how Facebook works. It isn’t how Youtube works. It isn’t how Google works. It isn’t how Steemit works. On all those sites the content is ranked by voting. They are all democracies, while Cent is a market.

market <> democracy

If Cent does get as big as Reddit, then it’s going to be because a market is better than a democracy.

market > democracy

Cent’s success would show everybody in the world that spending is better than voting at ranking content. But what about governance?

Whether we’re talking about content or governance, it all boils down to ranking the options. If the market is the best system for ranking content options, then it must also be the best system for ranking governance options. It is impossible for a market’s collective intelligence/knowledge to be useful for ranking content options but useless for ranking governance options.

Currently, in terms of governance, Cent isn’t a democracy, it’s a dictatorship…

Continue Reading


Responses