So interesting concept - I have been considering a form of vote coin for sometime. However, the big issue I see with this votecoin is the concept is whoever owns the coin gets more votes. In short, golden rule = the one with the gold makes the rules. This isn't a true democratic coin. In order to be democratic everyone needs to have an equal/fair voice. If not, some big fish can come in and buy the votes.
If you are a big fish, lets say you buy votes and influence voting. Well, then the votes you bought are TRANSFERRED by the action of voting to the organizer of the poll/election/crowdfund. Please describe what you consider wrong in this example. People with money will influence the results while PAYING their money for their opinion. They will end up losing money. This seems fair to me.
Democracy does not mean "equal voice". Democracy means "rule of the people". People decide. But the concept of fair votes in recent democratic elections is rather new, unusual, and imho dangerous. Not long ago, half of the population couldn't vote at all (women). And not even longer ago, lots of other people couldn't vote as well (slaves) and nobody had any problem with Democracy at that time. I'm not saying that women shouldn't have voting right, I'm not even propagating slavery, I am just saying that the whole concept of democracy is different than you assume and it changes during time.
-Tom
Would be nice to see VOT on other exchanges.
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