You keep using that word…
Plutocracy has historically been applied to the rule of “societies” in the sense of political authority. While policies governing the regulation of cryptocurrencies have interesting, and sometimes poorly understood relationships to historical political regulation… they are not the same thing. Exapting a specific term, which has A: Always been associated with political governance, and B: Has almost always been used pejoratively, is not bringing clarity to the important arguments we as a community are engaged in to discover new insights.
I strongly believe that we argue, not to best each other socially, but to enhance our own understanding and those of observers.
The term “plutocracy” is sufficiently related to concepts we need to understand, and sufficiently both different from the actual concept and pejorative, to impose a cost on our efforts to obtain new understandings.
I vote we all reconsider what we mean when we use the word, and try to use it sparingly and consciously.
I have a similar opinion about the term “whale” which I believe is extremely common in forums I try not to visit too often.
In general I think terms that derive a significant component of their salience from their pejorative resonance, are less likely to be useful for expanding understanding than alternatives.