Vitalik: Describing governance tokens as having inherent value is pathological

Ethereum co-founder Vitalik Buterin tweeted: "Treating governance as a token that should have value is pathological. It's like saying I buy $X because someone might later buy it from me and others, distorting the protocol to their specific interests, paying $500 for a 0.0001% chance to affect some vote outcome is not a good trade. Only multimillionaires and hedge funds (including attackers) think this is a good trade."

Ethereum co-founder Vitalik Buterin tweeted, "Treating governance as a narrative where having tokens should give you a say is pathological. It's like saying I buy $X because someone else might later buy it from me and a bunch of others, twisting the protocol to their special interests, paying $500 for a 0.0001% chance to impact some vote result is not a good trade. Only multimillionaires and hedge funds (including attackers) think this is a good trade."

The notion of "governance rights" as a narrative for why a token should be valuable is pathological. You're literally saying "I'm buying $X because later on someone might buy it from me and a bunch of other people to twist the protocol toward their special interests"

— vitalik.eth (@VitalikButerin) November 29, 2022

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