For my part, I would not say a crisis but rather a dissuasion weapon that can discourage people from investing/developing on Blurt, just because something is sleeping doesn't mean it can't wake up at any time.
About the ION network, I'm not for it but I have not yet studied the subject enough nor heard enough arguments to make my position definitive.
what is "ION network"?
one person makes up shit and others repeat it!
For me, ION network is like Ceramic network a Decentralized Identifier (DID), ION network is a Layer 2 when Ceramic is a mutable database on blockchain. After, I don't know more about ION network nor the purpose of creating tokens on it but considering your comment I suppose that this information to create 75 million token on ION network is wrong?
I have no idea where the ION network idea came from. What does it have to do with Blurt?
Nor where the "75 million" number has come from.
Cosmos network, see https://mapofzones.com ION is just the gov token of the Osmosis Dex which clawed back untouched airdrop as an example I referenced.
@logiczombie ⬆️
Cc @rycharde
blurt is not an "investment instrument"
we don't want to encourage "speculators"
blurt is a free-speech blogging platform
that is the primary value-case for the token
and as you've already pointed out,
the chances that 75 million blurt tokens will magically get dumped on the market without any notice is extremely unlikely - mostly because only an idiot would do that - anyone controlling those accounts is going to be savvy enough to know that in order to maximize their own profits, they would slow-bleed the accounts and would even be MOTIVATED TO HYPE BLURT in order to INCREASE the value of THEIR OWN WINDFALL
i mean, if i discovered that i owned 75 million shares of gamestop, i'd hype the shit outta that mutherfucker
tagg @megadrive @randula @outofthematrix @practicalthought @rycharde
I should have elaborated because you misinterpreted what I meant, if you have read some of my posts I think you know my position on speculative investors. Investing/developing on Blurt is not just about money but also about time (which is another form of money) whether it is as a blogger or as an app developer.
Would you be willing to gamble your blogging career and thus thousands of hours building something while keeping in mind that a sword of Damocles hangs over you for example? The same goes for application developers.
In my thought process for example I took it into account and what tipped the balance more in favor of one side than the other is the motivation and great work I saw in the core developer, the interesting ideas I saw on this blockchain and so I decided to take the risk of these 75 million blurt tokens. Then I put already $6,000 into it and spent already more on dApp development.
Before the story JS/Steem did you ever imagine big exchanges taking possession of their customers' STEEMs, powering them up, and interfering in Steem's governance?
even diluted it remains 75 million BLURT and I don't think a company like Binance, valued at $4.5 billion, which holds 25 million BLURT would be very careful
sure, time and especially development hours are "adding value" to blurt
but you have to ask yourself,
why blurt ?
is it perhaps because blurt stands on principles that cannot be found anywhere else ?
or is it because you think it will make you rich ?
This is a great question.
For myself it was a mix of principles as well as economic potential(s).
The leaders here exhibit a sense of community I've not seen elsewhere. Considering us their community, we have already seen one one airdrop (Digg) on the first project Jacob has worked on since Blurt. There is also talk that one for Gamestate will one day also be made to us.
Unlike Larimer where one has to keep paying to be in his community, we are permanently in their community because we are valued as more than the money we invested to get in.
I have found the character of the founders to be a large draw, as it isn't easily found in investment opportunities I've been presented with.
I also love this unique system where someone of meager means such as myself can allocate a proportional claim on the inflation to others here. And at times those others are in such economically depressed areas that despite the low valuation it still makes a significant impact on their immediate life. Ever since Steem I've been humbled by this aspect of this economic system that has been tweaked by the founders here.
I don't have time to go to your post on the pool where you've been debating with Baah. I do since I'm here wish to interject that one of the tweaks made by Rycharde is he has made our reward pool elastic, which largely does away with the often exaggerated claim of reward pool rape. It increases and decreases with the total amount of powered up stake.
As to your not seeing a crises, I would point out again that they (exchanges) are not the rightful owners of that airdropped Blurt. They are (in my eyes) performing a criminal act by retaining retention of that Blurt.
As we discussed previously, they have demonstrated no desire to release it to the actual owners, nor displayed any signs they would be willing to do something unheard of which is share their records of internal customers so those folks could be made whole (which would be easiest by them actually releasing it to them anyway).
Just because the likelihood of an imminent threat is not on your radar doesn't mean there isn't that threat.
I've often said most accidents aren't accidents. They wouldn't have occurred if one was mindful of potential outcomes and took the necessary steps that would have prevented it.
they have literally done nothing with the airdrop
doing nothing is not a "criminal act"
Withholding it from the rightful owners could be viewed (I view it as such) as a criminal act. If the bank inadvertently put money into my bank account I'm legally obligated to return it. If they have no intent on giving it to the rightful owners, they legally need to return it.
Yes this 👆
can't they just say "we don't support that network" ?
you can't "obligate" an exchange to support your fork
didn't the same thing happen with bitcoin-cash ?
I'm not sure, I don't really follow other crypto much as I'm not a crypto enthusiast. Ultimately I believe it is a tool whose purpose ifs to further enslave us, and is being offered in the way it is now to get folks used to the system and in some cases become so attached to it that a religious like fervor is induced. None of which answered your question, lol.
I just know that the airdrop was not intended for the owners to be the exchanges, and is further an issue when one exchange in itself holds a controlling amount of stake and could at any time decide to install their own witnesses and do whatever they wish here with this stake that doesn't belong to them.
what is your "worst case scenario" here ?
That they have a controlling amount of stake. As such if they decide to pull a Justin Sun they could.
And to reiterate, it isn't their stake as it wasn't intended to stay within their custody.
Yes this x 100 it is hostaged user funds
isn't that mitigated somewhat by the removal of the 30X witness votes ?
also, don't the current active whales control more than 75 million tokens collectively (or at least half of that) ?
Yes, that does mitigate that a lot.
I believe the foundation is holding 50-60 million total, not sure on how many tens of millions the FUD whale is in possession of. Enough he was able to block the DAO for awhile anyway.
End of the day, the tokens don't belong to the exchanges no matter how this is examined.
@rycharde PT just reminded me the rewards pool is elastic, most of the exchange funds are liquid yeah? So if burned the powered up ration will improve and might counter the rewards pool reduction which is APR based on total supply. Thoughts?
ok, i see what you're saying
since the elastic "reward-pool" is proportional to the ratio of "powered-up" and "not-powered-up" tokens - burning the "not-powered-up" tokens would move this ratio in the direction of increasing the percentage of "powered-up" tokens
and this would increase the total payout award for upvotes per cycle
which would increase AVAILABLE SUPPLY in ACTIVE ACCOUNTS
basically, it would increase INFLATION
Sort of, first inflation would decrease because total supply decreases post burn, since the 9% APR is of the total supply.
But since there will be less liquid to powered up blurt ratio the reward pool will operate at a higher output and help bring levels to the same daily rate as before the burn, we can also tweak APR upwards if needed to get back to current daily rate of payout.
funny enough,
https://steemit.com/hive-167922/@tarazkp/the-ability-to-speak-freely-not-earn-freely#@tarazkp/q5nsfv
Thanks for the share
nobody, no matter how big they are, kills the value of their own holdings
I am not involved enough to know the plus and minus of burning the 75 million Blurts and then recreating them on ION...
A seperate post to this topic would be more than helpful...👍
burning inactive accounts is not "obviously a good thing"
We could discuss this all day I think... 🤷♂️. The airdrop was free tokens... They have been lying around here a very long time, if somebody has never logged into his/her acc....
Here in Germany for example, if you win in the lottery and you don't claim it within 6 weeks... It's gone!
Isn't that comparable ..?
not at all
the only difference between traditional banking institutions and payment processors and crypto currency
is ACCOUNT SOVEREIGNTY
if you throw away ACCOUNT SOVEREIGNTY
then crypto is just as big a scam as the banks are
Yeah, you do have a point there... BUT
If they have never logged into that account (meaning, that it has never actually been activated)....
Did it ever exist?
Can you even call it an account?
you're thinking with a corporate-mindset here
once you give something to someone
you can't take it back
I don't think that is corporate... If I were to make you a present, let us say a bicycle... and you don't come by and pick it up, does that mean I have to keep it in my cellar for you the rest of my life? ;)
yes, for example
i have been "air-dropped" bitcoin-cash and bitcoin-gold and super-bitcoin and bitcoin-private
i have never "logged on" to any of those accounts
but they are still mine
if and when i choose to spend them
I’m not endorsing unclaimed airdrop user wallet burn, that was more Jacob’s suggestion, I’m for unclaimed exchange balance burn because those are tokens that belong to users that were never honoured by exchanges and after so much time I doubt they have snapshots of which those funds belong to after 2+ years. So the best way to collectively benefit users would be to burn for the good of the greater ecosystem.
Btw i had some btc in a custodial wallet that never honoured the BCH airdrop and thus I didn’t get it and they enriched themselves.
https://blurt.blog/@megadrive/rjawj3