Conclusion
I don't know if I'd even vote for this proposal.
I certainly wouldn't draft it.
The issue:
- Should the Decentralized Hive Fund be used to subsidize this hack
(of HiveEngine's best performing token)?
Facts:
- LEO is still trading 8 times higher than the baseline at the 0.15 ratio that we were at for so long.
- Hive is trading 50% higher than ALL TIME LOWS.
- Is subsidizing a project that's preforming better than you (in price%) appropriate?
Questions:
- Are there active proposals that offer less value than a LEO bailout?
- This is a political opinion determined by stake-vote.
- How much HBD would such a proposal ask for over what period of time?
- How responsible for LEO is Hive? Is this proposal valid?
- Are Leo's success and Hive's linked? How so? How much so?
Answers:
- This is a political issue so it should at least get voted on. We don't really get to make the argument that this proposal shouldn't be a thing. Rules for proposals are simple: whoever pays the fee gets to make the proposal and gets funding with enough votes. That is all. Excuse me.
To answer at least one of those questions, no there aren't nearly enough proposals adding more value than they are taking in, and it's been that way since the beginning of the DAO. As far as a LEO bailout, considering the above context and what already gets funded, I would support something that perhaps covered whatever already couldn't be covered by the LEO team. IE, if the LEO team could make investors 75% whole, perhaps a proposal to cover the other 25% is doable...
I agree with the general sentiment of your comment. Compared to all the worthless shit funded from the DAO for months, I'd say this one is considerably less off-putting than them. This at least allows for LEO to keep the momentum up despite wLEO side project getting wiped out.
I get that it is a shit situation and people lost money... but if dev funds are used to bail the relatively small number of powerful users who lost the most money, that is peak corrupt Steem/Hive.
Please don't downvote me.
Posted Using LeoFinance Beta
That is a sad state of the union, iyam.
But, on the brightside, it wasn't flagged when I made this comment.
LEO for everyone.
Posted Using LeoFinance Beta
Good things the hodlers didn't panic,...
What was in the contract that allowed the printing of fake leo?
That's not being proposed. I'm just spitballing here this isn't a super serious suggestion.
Maybe ;)
Posted Using LeoFinance Beta
Just get rid of the DAO.
The effects of a bailout as the once taken by countries just to print money from thin air, even if are not visible I think that they might have hidden effects behind them. But as not all things are black and white who knows if such a proposal should be better or not. Now it depends how the lost will be spread I would say that if that would be reflected for both the investors and the owners would be fair enough and also from the ROI there should be enough to cover that and get on top as well.
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I get your arguments I’m just like won’t this set a prescident for bail outs which was something we wanted to ger away from with Cryptos
I feel for the investors I really do, I’m just an emotional snowflake that gets triggered by the word bailout
I don't know if we need one.
I guess we'll have to wait and see what the official word is.
And now for something very interesting. I get that this is fictional, but agree that it’s a real issue.
Political? Sure! Practical?
Maybe...how important is it to save a bright lightbulb in a sea of dim ones, while people wander in the dark?
Good question. Brighter and richer people then me will have to decide.
Go Leo!
P.S.
That picture made me think Leo is circling the drain...
Say it isn’t so...
:(
Posted Using LeoFinance Beta
Puke & Rally, friend.