Notes of Satoshi Mamoto: Binance launches DAO research report

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This is Binance’s DAO research report. Personally, I think the research is quite good, comprehensive and cutting-edge. However, I also think it is a bit too focused on DAO. Maybe it will be more perfect to combine crytpocommons.cc from the governance of different projects and then focus on DAO.

key points
key points
– Binance Research defines a DAO as: “A form of organization that coordinates the work and resources of its members through a priori constraints agreed upon in a multilateral manner, formalized and transparent rules.”
– The working prototype of The DAO has taken many different forms. These include blockchains, ecosystems, protocols, natural resources or mutual insurance.
– DAOs can be classified according to four main elements: multilateral agreement, resource management, and discussion and voting process.
– There are two options for DAO and law: Legal entity with legal personality: Integrate the DAO into the existing legislative environment, as it can directly control off-chain resources and participate in legally binding agreements; usually by BBVA or ITAS etc. Statutory enablement; legal entities without legal personality: This is closer to the purist vision of an organizational form independent of the existing legislative environment; often enabled through "qualified code references".
– When balancing interests between members and DAO, an incentive model based on game theory research is needed to overcome problems such as the prisoner’s dilemma, controlling the commons, and avoiding Byzantine behavior.

These two pictures are nice:

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Growdrop: Reinventing Ethereum’s DAICO with DeFi

By evaluating various crowdfunding models in the past, the author proposes a new crowdfunding method called Growdrop, which can minimize the trust cost of the existing third party and deposit investment funds into the liquidity pool of DeFi Lending Protocol, Growdrop It is possible to invest in the project, greatly reducing the risk of backers making seed investments, and the project will slowly build a community to help promote public relations and technical development. Here, in the early Ethereum community, it was very similar in nature to DAICO.

Since the DeFi market is still a nascent market, there is a risk that it could have side effects from interest fluctuations, and it is only still active in the Ethereum ecosystem. Of course, the project's interest rate may be small, but with Growdrop, open source projects can obtain seed funding and form a community culture with natural supporters, rather than expensive financing like ICO and IEO. Growdrop is a new financing model. This makes Growdrop a new option for contributing to open source projects and breaking the vicious circle of funding

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What the Bitcoin Job Market Will Look Like in 2019 and Beyond

Cryptocurrency, Blockchain and Bitcoin jobs at a glance. This is a data report article depicting the job market.

Searches for bitcoin, blockchain and cryptocurrency jobs are down, but employer demand is skyrocketing. Over the past year, the percentage of cryptocurrency job postings per million dollars on Indeed has increased by 26%, while the percentage of searches per million jobs has decreased by 53%.

Companies hiring the most Digital Currency, Blockchain and Bitcoin jobs. As blockchain technology has spread far beyond the financial sector, you will see a large number of cryptocurrency startups, but also larger, more established companies that have no direct relationship with cryptocurrencies.

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Bitcoin will not be a medium of exchange (MOE)

Bitcoin is digital gold. It is the number one store of value for cryptocurrencies. But that doesn't help us much beyond being a "store of value". Some Bitcoin proponents see HODL as a use case. It has been said that Bitcoin is a store of value first and a medium of exchange second. In this narrative, Bitcoin needs a lot of time to gain widespread adoption. Once the market cap reaches a certain size, potentially hundreds of trillions of dollars, people will use it as money. But this narrative can only be used as a story, to say that the price of Bitcoin keeps rising.

Bad money drives out good money
Bad money drives out good money

Bad money drives out good money means that more valuable commodities (high-quality money) will gradually disappear from circulation. It will be replaced by less valuable goods (bad money). For example, if people currently use silver coins as money and the government decides to switch to copper coins, when the government issues a decree that both coins are worth the same. In this case, people would hold on to silver coins and use copper coins. They will spend the bad money (copper coins) and keep the good money (silver coins), so that the bad money drives out the good money, and the bad money becomes the currency in circulation.

Bitcoin is a decentralized currency. It exists because many of us believe it has value. It is impossible for everyone on the planet to unify into a single belief. There will always be other kinds of money that won't be as desirable as Bitcoin. So people will circulate them and keep their bitcoins. Bitcoin will be the store of value. We will use other "bad" currencies as currencies.

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Decred Market Strategy Summary and Guidance

In fact, I am not sure whether this thing is a proposal or a summary. It is a document of Decred, which is similar to a summary and feedback document of the recent marketing strategy. The writing is quite interesting, there are many detailed reflections on the decision-making, similar to the guidance, and very "transparent". Fans of other coins can also take a look to learn marketing strategies and experience from it.

A few scattered comments were extracted:

We have to know how effective our existing marketing efforts are. To do this, we need to have a good vision of the work that has been done, evaluate it against the deliverables outlined in the proposal, and try to measure its impact. It all starts with reporting. Ditto reports twice a month, which is great and sets an example for all proposals.

The word "money" is often used. When explaining Decred, start with "money" or "money with money" and then, carefully transition to complex terms such as "decentralized advanced store of value for generations", "autonomous autonomous digital currency" Or "safe, adaptable, sustainable". It's important not to start with concepts so distant from everyday life. "Money" is even more powerful than "currency".

Be honest about where Decred is now. Always ready to give a fair account of what we do and what we don't. Decred is not a good SoV today.

The strategy I think we should try is to reach out directly to very relevant groups, many communities already aligned with the values ​​of the Decred community, to reach out to the people who really matter.

Social media stats are usually the first thing we look at to assess community size and project success. There are many personalities with large and/or highly relevant audiences, whether in the cryptocurrency space or otherwise. Start communicating with crypto stars on Twitter.