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RE: NO Financial Security in POB Investment

in LeoFinance3 years ago (edited)

I think there is a fundamental misunderstanding of all of the 2nd layer tokens(Communitites aka tribes), and I admit I myself still don't fundamentally understand them just yet either.

We are not clients in any of these tribes unless specified in some way and they didn't promise us any services. We are users of the platform they made. Since they have tools Hive Engine made for muting/getting rid of curating(I didn't know that existed until today). Clients would be serviced and our needs taken care of by some sort of Customer Service or Manager or something, we also don't have any agreement with any 2nd layer token creator to be their clients in any capacity I am aware of(are their tribes making these promises?), just users of their Community if they decide to let us into their Community. The Hive Engine code allows them to not allow entry/use.

It seems the Hive Engine tools allow a lot of things that are potentially pretty bad(as markymark recently posted some good posts and details). Tools are neutral though, a screwdriver can be used to fix something or can be used to murder an innocent person. I don't see an incentive at present for people to misuse muting people en masse, because if a creator of a tribe does it could potentially ruin their reputation/community if they take actions the community doesn't agree with, or it could potentially strengthen their community and make it better.

I am not quite sure how to think about the ability of someone to curate in a Community being removed. My thoughts on that before I knew it was a thing was that as long as the creator of that tribe has enough stake they could just upvote something that was getting downvoted and that's how to solve for that issue, this "muting of curating" adds a different level I am not sure is actually needed. For instance, if things got so bad and a Whale(let's call him Justin Sun") was screwing over the entire platform people can fork off and not give Justin Sun any Hive. I was of the same mind on these 2nd layer tokens, if someone came in and was ruining everything that tribe could just tell everyone "hey we are relaunching our new token and air dropping you all at a 1 to 1 ratio, except for that whale who is downvoting us".

Whales on 2nd layer tokens can easily lose all of their investment if a token creator decides they are starting up a new project and tells people to stop using the current one. Can a creator of the token shut down the website? For instance, can Khal just shut down leofinance website and nobody can do anything anymore?

If not, he could also just mute everyone which means nobody can post or curate/earn anymore so now even if the website is up and running nobody can do anything. That makes the token worthless. Then he could say "we are air dropping Leo2 token at a 1 to 1 ratio to those who were on the Good List, Naughty List gets nothing". By doing that he could crash the entire market of the coin as well.

There are some major implications and problems I am seeing with 2nd layer tokens.