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RE: Here's A Good Reason To Not Invest In PALNet
the moderators at pal worked their butts off for 2 years for very little reward. aggroed in conjunction with the pal team came up with a way not only to reward the mods, but reward everyone loyal to pal, incentivize posting and participation on a lagging server/platform, and helped create steem engine to open this up to other communities. they all have proven their dedication to the steem platform at a time when many have cashed out. any of the pal team could have cut their losses. instead they created an alternative to old steem. so with all due respect, watch and learn.
With all due respect, you could have written this entire comment just by reading the title.
Did you?
:D
yes i read the whole title. and the post too, and the comments. most people dont. they read the title and maybe the first few paragraphs and get confused. most newbs wont understand sinks or negatively worded titles that get turned about. i am concerned about how that title got three new pal people to ask me why you are talking out negatively against pal, and how it will affect their support. next time maybe start with a title that actually reflects the intent of the post?
Dear @torico,
I fully agree with @edicted that lack of transparency with those extra (not so little) rewards is killing trust towards PALnet platform. IT shouldn't happened
Cheers,
Piotr
there is no lack of transparency. as was pointed out below in the comment by abh12345, this information was outlined in the palnet.io white paper, which is available to anyone.
https://steemit.com/minnowsupport/@minnowsupport/palcoin-launch-a-revised-whitepaper-and-token-launch-by-the-minnow-support-project
Dear @torico
Thank you for your comment.
You're representing one point of view (coming from someone well informed), I represent point of view of regular person who will see it as a lack of transparency (and that is in effect resulting with lack of trust).
In my honest opinion @edicted had a good point in creating post with this title: Here's A Good Reason To Not Invest In PALNet
If you think that this is correct solution and that users/investors should dig into whitepaper seeking such an information, then unfortunatelly you're wrong and I really can only wish all the best to PALnet.
Obviously you may see it very differently and you may disagree. However lack of transparency is an issue right now and this publication wouldn't be posted by someone as reputable as @edicted otherwise.
Yours
Piotr
this is a good point, crypto.piotr, and one that I share similar concerns on. how much should the regular person be expected to know and delve into the details of a project or post in order to understand? should we take everything at face value? should we be required to extrapolate meaning from disjointed information?
for instance if i sign a contract at a bank to borrow money, should i need to read all the legalese of terms and conditions, or can I trust the representative at the bank to condense this and explain it to me in simple language? should the writing be clear and concise? what if the subject heading is misleading or has conflicting information - is that ok?
maybe its my opinion, but i dont think average people read through every aspect of a contract or business venture unless they are a lawyer or a businessman. yes, certainly that's naive, but in reality we dont have time to become experts in every field of knowledge, so a lot goes on faith and trust. we also look at intent and emotional honesty.
any person who is new to steem will face a huge learning curve. they might not understand everything, but they do look for agreement, for simple and understandable explanations and helpful guidance. what scares them? in my opinion convoluted information, bickering, poor attitude, lack of access and lack of hope in becoming successful.
anyone wishing to invest in pal can at any time enter the pal server to ask questions in the help channel. they can view the whitepaper which has its own channel, or look it up online by googling "pal white paper steemit". it's not that hard. this is free and open access. but it actually requires people to take the initiative to ask the questions and do the research. lack of transparency would include hidden agendas or conditions, misleading information or a lack of availability of information required for decision making.
so when you are claiming a lack of transparency, do you merely mean you didnt bother to ask questions beforehand and relied on this article to alarm you? was your access to the pal server denied, was the language in the white paper unclear, or was it the fact that you latched onto a negatively titled, poorly written post, the intent of which seems to be stirring the pot to attract the attention of whales for a huge upvote/recognition? why would any average user sift thru the lack of clarity in this post for information on the subject?
the steem community is lauding new steem and wanting eli powell to drag new blood into the pool, yet we are woefully unprepared for their arrival. we have posts like this that seem designed to scare off anyone below a dolphin in their knowledge of terms and reading skills. many of our new users are from a different country, where english is a second language. they have little to no knowledge of crypto and are trusting in the community to explain what they need to know instead of making a point with no explanation or discussion then hopping to a different angle or topic.
we should ask ourselves - are we here just to bicker amonsgt ourselves as to the finer points of what constitutes transparency? or are we here to welcome the next new user to the platform with our willingness to communicate in clear simple language so that they might stay on the platform longer than a week or two before crawling back to facebook?
Dear @torico
You asked some seriously good questions. I very much appreciate your time. We may see some things differently but you earned my respect with your comments.
Seriously? You cannot expect that adding "out of the blue" such a huge amout of PAL tokens to biggest stakeholders will not result with tons of bad publicity and will worry many people out there? I think this was to be expected. And could be at least minimized.
Please keep in mind, that I really wish PALnet all the best and I invested quite heavily into that platform. And I think that it all may only scare some people away.
Thank you again for your kind reply.
Yours,
Piotr
i agree we will need to agree to disagree. the drop was not out of the blue, it was announced and spoken about in several posts that aggroed and minnowsupport released.
these extra tokens were not rewarded to stakeholders, but to PAL moderators and developers heavily invested in the community, people who have done an overwhelming amount of work the last 2 years and will continue to do so over the next year.
tokens are dependent on the success of the community, and are a fair form of renumeration for work done. tokens can lose value as easily as they earn value.
would it be smarter to sell tokens to the highest bidder, and have pal "whales" who do not have the best interests of the community in mind but only want to make money and leverage control of the vote? how was giving tokens to people who have proven their loyalty and dedication to PAL unfair?
how else could it have be minimized? well, lets say by not using the topic as click bait for a post, creating distrust and negativity about the "lack of transparency", mentioning the possibility of "exit scam" to induce more fear, then not even discussing the facts but instead veering off to talk about why we should all invest regardless? such fear mongering has no place in a platform that we are trying to introduce to new investors.