that goes against the whole raison d’être of blockchains as middlemen disintermediators; it could just be forked to have no fees, or people will go to another protocol that doesn’t take fees
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Replying to @MustStopMurad @0xProject
Totally understand that, but only way to capture value is through network effects of a liquidity pool. You could 'monetize' that value with txn fees or a token. Struggle to see ZRX capturing value for on-chain governance. So why not just collect tiny fee for trillions of txns?
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Replying to @blairlmarshall @0xProject
because the fees, however little, would be a friction to everyone building on the protocol and using the protocol. the big point is — maybe the value *shouldn’t* be captured at all!
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0x would be no different from Web 2.0 giants if it did that — someone would simply, at some mature & usable point, copy the open-source code and get rid of the free Blockchains don’t create revenues. They destroy revenues

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Replying to @MustStopMurad @0xProject
I hear you, but you can't just copy the code. You would then have to convince all of that built up liquidity (relayers) who are getting drunk off of fees to move over to a lower fee protocol. That literally would be economically irrational.
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The fees could just pay devs directly for their work. So its a new kind of organization. An open source project that receives fees to pay devs for work.
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Replying to @blairlmarshall @0xProject
These dudes already made hundreds of millions off of the governance token...
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Replying to @MustStopMurad @0xProject
Yea, I would argue bc of the irrational market. Not convinced there is long term value in ZRX simply for on-chain governance. FWIW, I am very long ZRX. Great community, so they will figure it out. Hopefully I am wrong re: value for governance.
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Replying to @blairlmarshall @0xProject
0x the protocol is one of the best products in the space ZRX the token is a worthless shit token
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Replying to @MustStopMurad @0xProject
I am leaning towards this more and more everyday.
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It’s inevitable, making money / extracting value in the blockchain realm, save for “becoming money” (
), is notoriously and fundamentally difficult, by design
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This!
Extracting rent from a decentralized platform is a non-starter. It's amazing to me how many people in crypto haven't picked up on that.https://theoryofself.com/dont-invest-in-decentralized-startups-f71294498deb …1 reply 0 retweets 0 likes -
I've read this last week, really enjoyed it. You get it
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End of conversation
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