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RE: Coinmarketcap: Should users be able to vote?
@tradewonk, In my opinion, the Vote System is sounding effective because we should choose what we want.
But there is one aspect which we have to think upon and that is who is Voting and why is voting for particular coin.
When we talk about the Cryptocurrency Sphere then we need use cases so that Crypto expands and get the needed Recognition.
We all know that we are not attracted masses till now, so still in my opinion the Voting System possibly stay as ineffective.
Wishing you an great day and stay blessed. 🙂
Voting is a bad idea. Why? For the same reason democracy sucks (see Plato's Republic on the issue).
Yes, voting is appealing to the masses but hypothetically; why give a bunch of people who have no interest in a given coin the power to vote the coin down? It creates the oppressive governmental system that cryptos are supposed to circumvent. It's a huge step backwards.
Granted; coinbase members are probably informed and interested in crypto currencies but how long will this remain so. In behavioral economics there is this; median voter theorem, which means the median outcome will win in a voting system. However, in any voting system almost no-one is a median as most people are on one of the extremes (in classic politics; left and right). Politicians want to be in the middle of the two camps because then both camps have a probability to vote them. Going on the right inevitably means alienating left voters and vice versa which is why politicians don't do it.
Similar things could occur for coins. Like, e.g.: what would prevent an SJW movement against "NAZI-coins" for example? Of course this is a hyperbolic example but I hope you catch my drift.
However my biggest contention against voting is why?
With digital currencies it is so easy to just implement all coins on an exchange (at least all of those who are requested by the exchange members and all of those who meet the exchange requirements - that is a voting process in and of itself - no additional layer of "official" voting is necessary).
TLDR; I think voting is stupid.
This is also right means, whatever rules hold by the exchanges that should be fulfilled by an project to list their token on exchange if not then no, and next aspects are depended upon the investors if they want to invest or ignore. Stay blessed. 🙂
Yes totally agree.
👍