Re:Web3's fake version of Web history
by mbesto on Wednesday May 03, 2023 @12:03PM
(#35804034)
My favorite part of Web3 are the characteristics of decentralized and community governance. Yet, VC's are making huge USD bets on the "companies" supporting these projects. If these are truly decentralized and truly community driven, then a single source shouldn't be reaping financial rewards.
[ Parent
| on HN ]
Community governance where 2-3 rich people buy 50%+ of all voting power power and then do whatever they want, throwing under the bus thousands of poor fools who bought into creator's lies? That governance? Truly few understand.
Re:Web3's fake version of Web history
by spaceman_2020 on Wednesday May 03, 2023 @05:17PM
(#35807920)
Pretty much all governance is nominal. VCs and team members typically own the majority of the tokens and just swing all decisions their way.