You like most Austrians refuse to acknowledge human actions like prejudices, discrimination and flat out racism. Mises in his magnum opus never fully addresses them either. If we could have your perfect free markets there would still be slaves in the south.
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All of these are solved in the free-market to be non-issues. I can address all of them and I will. You dont need to rely on anyones writings, when you understand the mechanics. I dont want you to believe what I say, I want you to look at evidence and the logic and then form your own conclusion. I will get back with a reply.
I am not a anarchist, I want to have a government that protects individual rights not only of principle and morals but because this makes the free market more efficient. Slavery was wrong, even under the constitution it was wrong. You can thank the “democrats” the democratic political party (of the US) for why slavery prolonged for so long.
Republicans wanted to end slavery, and they were the once who did. Democrats voted against every part of the way, and not only did they vote against, they went rogue and kept it going.
Slavery was unconstitutional, but the Democratic party and Its voters used a “loop hole” of interpretation. Slavery was kept in check by the Government, it could only exist because the Government allowed it and did not do Its job in protecting individual rights - one of the faults are that the government worked for the collective and not the individual.
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Its obvious that you think/feel whales controlling the majority of ADA isn’t a big deal and the free market will work its magic and everything will be just and fair. I think what attracts many humans like myself to public blockchains is the possibility that a protocol can see beyond race, nationality borders to create an equal opportunity to interact amongst each other. I personally feel that Charles and the team he’s put together are trying very hard to create that ecosystem. But there are still some governance issues like the OP has pointed out that need to be addressed. Your belief is that whales won’t collude to leverage their stakes to control that protocol. I wish I had that confidence but history tends to repeat itself
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I want to talk about the implication of your solution.
First is the distribution of future minted ADA. Humanity maintenance will not work. Because it can be exploit by a Sybil attack. Assume that you can use zero-knowledge proof to identify a person, one still can simply bribe real people to join ADA just to be part of one’s group. If this give them more ADA and voting power, this is the doom of ADA.
Second is Network Maintenance value. You said it’s for pool operators. If ADA’s pools end up like bitcoin or ethereum, there would only be around 20 or so pools that have 90% of power. I don’t think giving pool operators more ADA would be a good strategy, especially if you want to prevent whales from taking over the system.
Third is Ecosystem Innovation value. I agree that it’s nice to have. But I think this should be done through IOHK, Cardano Foundation or Ermurgo funds. It must not in anyway through the system. There should not be any rule of vague conditions like this in a system. It will be abused for sure. Not to mention who would be the one to determine the metrics.
The last one, Social value is out of concern of ADA economy. Why should we care about how many people they bring? More people is not equal better. It’s more likely to be worse. Not to mention this is susceptible to the same Sybil attack as the Human maintenance value.
For other things, I think you made a lot of assumptions. Like early investors are bad and don’t know what they are doing. And your solution relies too much on human intervention (as who would be the one to determine those values) and external factors (as number of people or social value). I think the best system is the system that not depend on any human intervention.
Almost all you describe is somehow the same in all over the world - it’s the financial system that enslaves us nt the “american capitalism”.
Even if a lot more stuff could be said about bad laws and stuff from US, some good things still happen 
. To - the majority of ppl have good intentions, the issue is the elites have all the resourses and it’s easy for them to divide us on any subject (religion, politics, sport, anything)
So. don’t blame it on capitalism (as in the right to own private property) but on the corupt financial system that is controlled by a few un-ellected dudes that run printing houses of fiat
I have a solution to Ada whale fears - stop being a coward and show some gratitude for the efforts of the pioneers. There, that’s the solution. If you take offense to this comment, then I am talking to you. Here is an annotated graph of the Github commits for IOHK and all the developers working on Cardano-SL from March to September of 2017. Over 3000 commits.
Notice how much effort (and money) was required before any of us could even have a wallet to buy Ada. This was long before any one complaining on this forum could get involved. The whales paid for that. IOHK, Emurgo, Cardano and a lot of smart people paid for that. Is it fair how the ICO was done? No. Life is not fair. Was it smart how the ICO was done? Yes - ICOs are ~illegal~ difficult at best to do in the US. Japan was absolutely the best place to do an ICO. They have money and they have willingness to adopt crypto. Best move Charles and company ever made.
I am just hoping at some point this thread will die on the vine. It is such a dead horse in my opinion. (and I violated my comment that I would refrain from commenting on threads I think are ridiculous). Continuing to talk about fear just spreads fear. Hike your britches up and hang on, this is going to be long ride.
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I would be careful to put the blame on the financial system - because the financial system is a inherent and very important part of Capitalism. Unfortunately what we have today is not a free-market in the finanicial system and as you mention the Federal reserve.
The federal reserve, even though “private” is a arm of the government.
There are lots of moral hazzards in the Banking system, like government insured bank accounts (this is a terrible idea and is the result of many of the issues weve had)
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Love the Dead sticker mate!! Big Dead & Phish fan!!!
I’ve read most of the comments here . . . I’m in agreement that fear seems to be more common in these threads than hope
Look!
The moment you realize you are not a victim to reality because you have the power to shape your own reality with the Divine Creativity that lives in you - is the moment you truly taste freedom!
There’s one main reason why I value Cardano above EVERY other coin - Charles. You may have heard the Bitcoin mantra about being able to trust in math or cryptography in place of people. This is only partially true. While technology may act in place of people . . . There will never come a day when there is no longer a need to trust people. With this in mind, I invest in Cardano for many reasons, but Charles is the primary reason.
I value the discussions here . . . I value the many different perspectives! Its a beautiful mosaic!
Thinking about Centralization vs. Decentralization, the two polar extremes - neither are perfect, each has its pros and cons. The pro of Centralization is efficiency & speed. I don’t need to mention the cons, we all know those. Nor do I need to mention the pros of Decentralization, but there are many cons. Can you imagine a world where everyone had an equal vote in determining every financial choice? I’d wager a 2/3rds majority would never happen!!! Or of it did, maybe some fluke after 30 yrs. In fact, the varieties of perspectives on this thread PROVES THIS POINT in a micro way!
My hope is in a balance between Centralization & Decentralization. Yet, I fully understand that there will never be a perfect system, because there will always be some portion of people who are acting badly. There are better systems, there are worse systems . . . Imagine if Mother Theresa had been a dictator - would this be good or bad? I’d say, until she dies, good!
The Cardano Whales! Mmm . . . I have studied the charts, how many pump n dumps have occured with Cardano? I have yet to realize one.
The Truth about the Whales (Institutional Investment Companies / wealthy private investors) - The whales are coming!
They will come into the top coins (top 30).
They will all try to stick together in a pack.
There are pros and cons.
The pro is, they will take the total market cap into the trillions. I estimate 3-4 trillion. One other pro is that they will actually better determine/est. the fair market price in the shory term.
The cons are that these whales will carry a bigger wake, and to pay the bills, they will need to realize their profits on a regular basis. There will be greater risks on smaller investors who wish to trade frequently, that risk being, trading against the whales unknowingly.
One sign the whales are coming is Government Regulations. Whales will not gamble with other people’s money, they require risk management. Government Regulations will attract whales & add credibility to crypto. The fear is that the whales will take over! Mmmm . . . The whales can only take over if the Common People Do Nothing!!! For example, if most people owned stocks, the whales would have a minority leverage to influence the stock market! The same is true with crypto! We need to remain hopeful, and encourage the grassroots movement even more so today. The coming whales will signal small investors in their wake, and we the people need to be ready with an optimistic message of hope and welcoming . . . Otherwise, they will run the other way.
As far as governance goes, I like the hybrid model - Democratic Republic! A system of checks and balances. Its a near perfect system. The US Constitution before the rich had their day with the 17th Ammendment, was near perfect. It kept balance. Sadly the wealthy ruling class sacked the US Government in the early 1900’s . . . The Federal Reserve along with many other very bad things. When the rich got their hands on the CIA & killed Kennedy, it birthed a whole new level of corruption. The world badly needs crypto to succeed folks, and who better to offer the solution than the Asians!
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I’m right with you. I didn’t intend to sound fearful in my posts I’m extremely bullish on this project. I just think its important to be aware of any backdoors that could be detrimental to the ecosystem. Theories on the Gini coefficient and its affects on human psychology is very interesting to me.
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Thanks!
What is the Gini Coefficient btw?
A number between 1 and 0 thats measures the concentration of wealth, where 1 being 1 person has all the wealth
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