KYC, SEC, Contingent Staking, Twitter Drama and YOU. Spank-fully explained! ;)

Greetings @logos,
Thanks for your well thought out response.

Before this thread was started, I started a thread of my own on this very subject

As you can see I politely called out Charles for leading the Cardano community toward a permissioned blockchain which enables censorship.

As you can see from my post (linked above), I felt exactly the way you feel now and I did not support Charles’ view.
But as I read the comments from other community members, and considered the facts presented which were unknown to me before, I changed my mind.
I would argue now that giving myself permission to change my mind when presented with new information is the single most important part of critical thinking.

I felt the same way.
Then @DVNC_L explained to me in the other thread the following:

Charles ‘introduced’ the idea of contingent staking in 2021 as a way SPO’s could prevent an attack where whales oversaturate pools forcing smaller stakers to leave, then the whale leaves, leaving the pool with a much smaller delegation.

Charles also made a follow up video about contingent staking that covers other use cases that have nothing to do with regulators.

He does seem a bit annoyed but I think that is only because he is aware of information about the subject that we are not and yet imagines that we already know what he knows. Probably because he spends most of his time surrounded by people with access to the same information he has. In any case he is kind of busy and yet takes the time to share his thoughts so I return the favor by giving him the time to listen. I am glad I did because there was new information in that video for me which matched what community members where telling me in this forum.

The big takeaway from all of this for me is that even if an SPO denies service to a delegator, the delegator still has nearly unlimited access to stake pools and or has the option to start his/her/their own. So what’s the difference? If we are talking about a limited resource like hospital service then yes, I agree, no one should be denied service. But if the resource is unlimited I am thinking “Fine, I will give my business to someone that welcomes me”. Unlimited resources are an new idea for me. That’s what I wasn’t seeing when I started the thread linked above. Unlimited resources changes everything.

I am a white man and my wife is a black woman.
Neither of us think much about racism.
We just stay away from people that don’t make us feel welcome.
We are happy most of the time because we are not trying to change other people’s minds.
I started the parallel thread linked above because I wanted to know if I should change my mind.

I really appreciate this dialog with you and the opportunity it gives me to explore this subject.

3 Likes