"Should the ITN live on? Community discussion… " - bigpey video

neat video @bigpey though the thumbnail could be seen to be misleading, which is a point that charles made a follow up video to clarify that it would not be a different coin.

that aside, i think saying that it a new snapshot would not make much difference isn’t entirely true - there are a number of factors that would be materially affected either way.

it also brings up a bunch more questions than answers - primarily the opportunity cost doest seem to make a case for it.

one could argue that it would only primarily benefit those who would have bought/buy a lot of ada at a much higher price - because it’s just about a months worth of rewards, and the pie would be split among a lot more people. while this would create a new price floor, it would also mean things like more resources, time and efforts on things like balance checks, comms etc.

I’m all for the egalitarian initial conditions, but to me this seems to take a step back that doesn’t justify or equate the effort in input to output. why not just wait (about a month) for main-net?

arguments against, like (very hard working) small ops possibly not having enough pledge (when the parameter details are not yet known) are being base on assumptions not known facts, as well as assuming that such (very hard working) small ops would not be able to get delegators to pledge.

i guess the simple argument is what is the cost benefit of doing it considering. why not just wait (about a month) for main-net?

To me the primary attraction is this gives the ecosystem a chain that can be experimented on. It will probably also act as a side chain. As we progress through time and more value goes on Cardano it will get riskier and riskier to add new functionality. Look at Bitcoin as an example. Also the governments of the world may outlaw privacy coins. Maybe we would want a privacy layer that is a completely different side chain for that to minimize risk. These are just a couple of examples off the top of my head.

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It’s a placeholder thumbnail until I switch back to windows from linux. I am getting sick of dual boot! Charles mentioned litecoin in The Cardano Effect last night and referenced it to the ITN. How would it primarily benefit those who bought ADA at a much higher price? Do you mean only if there is no new snapshot? With a new snapshot it could benefit all ADA holders.

An argument for low fund pool operators is not based on assumptions. Pledge is highly likely to exclude people without x amount of funds. It could be low enough to allow most people in first world countries but it is likely to exclude some.

That’s what I mention in the video is we have to find a unique value for the chain for this to make sense.

yeah @Donnybaseball, i think a side chain makes sense not a separate chain. as for privacy, ouroboros crypsinous will enables that right into the main chain no need for separate chain implementation.

the riskier problem that i’ve been shouting out from the rooftops about is division that will come from poor governance implementation.

it’s now becoming more and more obvious to others with such pent up pressure behind the divisions - instead of us practicing earlier, frequently on smaller issues - now the chances of undesirable costly outcomes are more probable. ¯_(ツ)_/¯

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hey @bigpey i feel your pain with dual boot :nerd_face:

while he did mention litecoin tce, he was quite adamant on the follow up video for this not to be construed as a hard fork/cardano lite as he understands that it has fundamental repercussions (negative) on perceptions, especially as the media has already been spinning it that way already. a false narrative reframed as a failed experiment that’s splitting up post community vote before it even launches. this affects perceived integrity.

as for the higher price, i was referring to instances like if that decision was to be announced now, majority of folks would be buying at today’s high price. in a bid to out accumulate ones from old snapshots as well as old and new who have bought cost average since then. either way it’d be stacked against them. as a consequence that would affect the price significantly with the highly probable strong sell off post shelly. as much as we in it for the long term-ers believe short term price movements don’t matter, they do have a psychological effect on market perception, and wash trading type volatility doesn’t bode well with adoption on all levels.

while i appreciate you’ve disclosed that having a new snapshot would benefit you, which obviously affects/influences your stance on the debate. personally - even with itn rewards, and purchases since old snapshot factored in - i could lean either way, so it’s not an influencing factor.

i’m curious to hear your cost benefit reasoning tho