This was a thought provoking post I saw on the main Tezos subreddit, before it was censored.
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Psychological analysis of Ithaca opposition
This post isn’t meant to debate the merits of LB or non-LB, but rather to explore the driving force behind the opposition to LB, which I argue, is actually much larger than just LB. I suggest that those opposing LB, causing Ithaca to fail, are more motivated by the broader economics of the XTZ ecosystem, rather than single issue LB voters. Please review the following tweet prior to reading the remainder of my post, as it helps thread a narrative I believe explains the true opposition to LB.
Really, read the tweet, it’s pivotal to understanding the psychology behind the opposition to LB, an opposition so intense it caused a network upgrade to fail.
I argue, that the same people that opposed LB so fiercely, would, in fact, be staunch proponents of the same exact proposal if XTZ were >$50. When you dig down into what the opposition is actually saying, this is what it all boils down to. LB isn’t actually the issue. The economics of XTZ is the issue. Until we see improvement of this metric, I fear that this faction will become increasingly obstructionist, even to the point of inflicting damage on the network as a misplaced form of retribution.
Recently, we’ve seen a similar dynamic play out in the eos community. The economics of eos was in a languishing/declining state for a very long time, until elements of the community were able to mobilize other ecosystem participants into taking drastic governance actions. The result? Via governance, the eos community froze the eos foundation’s funds. Minority elements of the Tezos community are already suggesting such radical action.
If you didn’t read the prior tweet, now is a good time to do so.
The radical, minority faction of the Tezos community that blocked Ithaca is gaining strength and adherents as the economics of Tezos fails to remain competitive in the crypto sphere. How much stronger will they be in 6 months, if Tezos economics fail to improve? Will they begin obstructing all network upgrades, or worse, rally for radical action as we saw with eos?
For the strength of the network, it is absolutely imperative that we focus on the economics of Tezos, with future upgrades incorporating mechanisms which directly result in value accrual to XTZ. Failure to do so will result in further fracturing of the community, potentially with unrecoverable detrimental effects.
