DEFINITION of ‘Hard Fork’ As it relates to blockchain technology, a hard fork (or sometimes hardfork) is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa), and as such requires all nodes or users to upgrade to the latest version of the protocol software.
So you want to - “anihillate” ppl’s accounts - just cos they have more then you? This is just how soviets did in east-europe after WW2… confiscated ppl’s land and house if they had more then average… why do communists views similar to what you express still tolerated?
Even if you think that 100 ppl with 1 ada have or should have more power then 10 ppl with 100 ada - you are wrong! Fork and you will see how the bigger network (more ppl, more value, more tx, more mkctap) will be the one with those 10 ppl with 100 ada… thats how economic works you need whales to fight the whale fight
The chain is 99.9% Japanese owned. These guys bought in very cheap a long time ago. The distribution was narrow - small number of people owning very large amounts of coin.
These are the facts.
How you feel about the facts is something else.
Some people don’t like (as we can see on this thread). Some people won’t care. Some people might actually prefer it this way.
I’m not all that bothered personally. I have a few minor reservations; 1) imho there will be constant sell pressure for a long time, Cardano will have to demonstrate a lot of value for outsiders to take over these positions (well beyond shelly) 2) Not sure how easy or strategic it will be for Western projects / Western companies to use this chain 3) Western media unlikely to do any favours for a foreign chain (conversely Asian media will).
As an investment I don’t think it matters all that much, provided you are going to hodl long term, it will be a slow burner for sure, if you want fast money, get into an ICO. If you want to use the chain for a project, then maybe it will matter, not sure.
Like I said, for me it’s all quite minor. Cardano has the best team and a huge budget. It’s gonna be a winner.
I am in the exact state of mind as @Robert and Martin. I don’t care. I got in relatively early in october and I have to accept the fact that others with better knowledge invested at a better time and at a better place (Japan) during the 2015-2017 ICO. Period. You won’t hear me complaining about it, nor will I bother you with the degrees I hold . We are still all insanely lucky to be here at those early stages.
I noticed that some kind of frustration related to the whale topic transpired from some posts, and it can be understandable up to a certain point. I personally find that mentioning a potential soft fork at such an early stage is laughable on a less than 5 months coin.
I hope that this frustration won’t pollute the discussion space for too long and that we can all get back to being civilised, discussing and debating about this community disrupting ideas and promising perspectives.
@CosmosX I appreciate that you and @Robert don’t care, but for those of us who do care (and there are many more who do care vs. don’t care), we have every right to make our voices heard. If you guys don’t care, and if Robert insists on interpreting my posts in the worst possible way, then please just ignore my posts from now on.
To be clear, there will be many more respectful posts until we get some clarity on how the team intends to resolve the hyper-concentration of wealth/power issue; or until we develop some meaningful solutions from within the community to present to the team. This is the way vibrant and passionate blockchain communities work, as I’m sure you know.
Anybody who has ever invested a lot in a public corporation knows that sometimes shareholder blocs get into good-faith debates over the management and direction of a company. However, I believe Cardano is at least an order of magnitude more important than any corporation. So, I certainly do care about its long-term sustainability and there are many others in this community who do, too. And every stakeholder has a right to fight for what they believe in.
One thing I don’t care about: The short-term price fluctuations of the ADA token. Specifically, I don’t care if it drops to $0 if that’s what it takes to help the team and whales understand that we need more transparency and more answers about specifically how they intend to reduce the concentration of wealth/power so that the ecosystem is not dominated by ADA oligarchs forever.
And, if after our best efforts, we don’t get satisfaction, then yes, of course, we should rationally consider forking, but nobody said that was an immediate decision that anybody would make. Forking is an extremely painful process; so, the whole point of my posts and discussion is to try to come up with solutions to these problems long before anybody feels like a hard-fork is truly necessary.
@rickymac I think your intentions are probably good, but you’re distorting my words and intentions. If you were John D. Rockefeller gobbling up huge swaths of our economy, I would be fighting against your domination of the ecosystem, too. That’s not socialist; that’s basic common sense to anybody who understand how all fragile economic and biological ecosystems work.
So, (1) I’m not “voting away” anybody’s wealth and (2) most people who call others socialist don’t really understand what that word means in its full historical context. I won’t insult you in public, but please refrain from making any more personal, false accusations because MANY of us are concerned about this issue; so if I’m a socialist, then I guess there are likely thousands of Cardano socialists running around trying to vote away your wealth. Watch out . . . we’re coming for you!!!
@ADALove Did you read the link I posted about the Dominating Participant?
PS… Im not the one you would be voting wealth away from, and if you are offended by my definition of a Socialist then you need to go back and read your own posts.
I see your point, but I don’t think you should blame the whales. On the contrary, they’re whales because the ICO system allowed them to be. If you were among those early Japanese investors, I am pretty sure we wouldn’t be hearing from you, would we? Or it would probably be someone else. My point is that if there is some unfairness in the current state of things, it’s due to the ICO system in the first place.
If there is any problem, it can be easily solved by attributing single voting rights per person instead of rights that are proportional to the wealth. But I am not sure that this solution would still be “perfect” or ideal. It’s an interesting debate.
Yep, but given that you presented it along with a gratuitous and unsubstantiated insult, obviously you’re trying to use it as a weapon to shut down our good-faith discussions. That’s not going to happen. You can appeal to any quasi-psychoanalysis of our group dynamics that you want; it’s not going to change the fundamental reality:
Wealth/power within the ADA economy is grossly concentrated and there are 100s (probably 1,000s) of us that are not comfortable with that. So we will continue discussing and exploring many ideas and potential solutions as a community of like-minded souls until we resolve the problem one way or another. There’s nothing wrong with that.
If you want to join our cause and be on the right side of history, you’re always welcome. Regardless, neither the document you presented nor your personal attacks make any difference. That’s not intended as an insult; it’s just a fact.
No. Name not needed. Just one wallet address would be needed. Actually the exact same voting system being developed now will still work too - just ignore the stake amount and vote by wallet.
Come on @CosmosX I know your intentions are good and I know you’re a very thoughtful person because I’ve enjoyed many of your comments, but do you really think this is about “blaming whales”? Don’t you think I know that this entire problem is about the way the private voucher sale (not really an ICO) was executed? (I’ve said that a few times already.) Nobody has pulled out any pitchforks (or harpoons) and screamed, “KILL THE WHALES!!!”
Anyway, regarding your specific suggestion: Yes, I agree that single voting rights is a potential solution (probably as a multi-pronged solution with a few other mechanisms), which several people have also suggested. Of course, each approach entails trade-offs and we all need to think carefully through all the trade-offs without jumping to any conclusions, but yes, that’s certainly a good option to consider.
Thanks for being thoughtful and not jumping straight to personal attacks/accusations.
. We are still all insanely lucky to be here at those early stages.
I know your intentions are good and I know you’re a very thoughtful person because I’ve enjoyed many of your comments, but do you really think this is about “blaming whales”? Don’t you think I know that this entire problem is about the way the private voucher sale (not really an ICO) was executed? (I’ve said that a few times already.) Nobody has pulled out any pitchforks (or harpoons) and screamed, “KILL THE WHALES!!!”