First of all I want to clarify that I am not condoning or endorsing this, but if you haven’t heard, there is a group called ConstitutionDAO that is trying to pool together enough eth to (hopefully) buy a draft of the US Constitution going up for auction tomorrow. While I am not personally participating, I do feel like it is a pretty brilliant symbolic idea, especially if they are successful. It could potentially be a catalyst for much bigger conversation around the idea of grassroots movements and self-governance/determination in the crypto world having real, tangible power in the physical world, which could in turn be beneficial to ENS.
Or it could also majorly backfire and cause a lot of misinformation and clickbait sensationalism. What do you think? Personally I am not contributing because I think the history books are more likely to remember the ENS DAO essentially coming out of the gate at $1 billion market capitalization.
I think its an example of what is to come. There are many complications which they fail to solve, however, such as how does a DAO own a physical entity? What is ownership? What is possession? If one user has 51% of the DAO votes, I think it would be that person which owns the object(s) as opposed to the entire DAO, since they would have the power to do whatever they wish with it, such as donating it to themselves.
That said, it is definitely an intriguing idea, and will likely scare many people both crypto enthusiast and non-crypto users alike. Should something so symbolic and historical belong to a group of pseudonymous internet users, the like of which named a boat Boaty McBoatface?
Personally, I think it would be better idea to draft a modified US declaration of independence, declaring our independence from government regulated financial systems.
So… they didn’t win, but “wasn’t the real constitution the frens we made along the way?”
I never thought I would watch an art auction for millionaires but it was pretty exciting and enlightening. Sotheby’s listed all of the auction bids last night in [rough] ETH equivalent alongside the various country’s currencies, and for the two Banksy pieces the auctioneer was actually calling out bids denominated in both ETH and USD. That felt pretty historic if nothing else.
Now let’s hope the refund process isn’t a trainwreck, and all of the people that contributed and had never used crypto/web3 before will have some ETH to do something with.
Trolling power is quadratic apparently.