The danger of an ungoverned chain is always higher than one being governed badly (you can always change this in a referendum), in my understanding that's what eos is about. I dont see why Dan and so many (maybe just blindly following him) are so keen about a dapp layer arbitration, which is no arbitration at all, apart from the idealistic idea of voluntarily enabling arbitration... in reality a small hodler will just have to accept the TOC of the mighty EOS critters/casino dapp (just to give you an example), which will be 100% tailored to the need of the casino, and that will make any arbitration (if it were even included in such a contract) nothing more than a joke.
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I disagree with your statement that a badly governed blockchain is less dangerous than a non governed one. Thats's like saying any government is better than no government. ToC's will also be subject to the forces of free market economics - A bent casino won't last long when a slightly less bent one comes along, which then gets superseded by a reasonably honest one, which then gets out-competed by one that just gives you random odds and allows you to choose from a list of 20+ registered arbiters.
Before Facebook there was Friends Reunited, Bebo, MySpace, Friendster.
Facebook is the latest incarnation of Social Media.
Blockchain Social Media will work differently than traditional platforms such Facebook as it will likely be designed to reward financially as well as socially. They will also be Open Source projects rather than walled gardens. Apples to Oranges.
'cept, as we saw in Steemit, that worked for a while, and is now apparently captured by the voting rewards bots.
And so there will be a Steemit 2.0
Dan has hinted that he's already building it.
As you rightly say, before fb, there were several platforms that competed, but it turned out that on a globally operating, platform economy, the winner takes it all, and thus there is now only fb (and a few others that compete for their niches), a monopolist, that dictates the rules for everyone, this is a possibility, because corps can act globally, but laws are local, eos with a globally set up - binding! - governance , would be able to rebalance this, but is now threatened, to become yet another uninspired chain, with maybe a solid tech base, but that's certainly not an usp for long....
You are assuming Facebook will remain the winner.
If you believe in some type of centralized global governance structure for EOS then I think we've reached a point whereby we differ politically.
We could easily deploy a smart contract interface that describes to the user the following information before s/he even decides to interact with the dapp:
I think a lot of supporters of ECAF assume that if we don't have rulers in charge at the base layer then there isn't going to be any kind of alternative and we're all going to hell in a handcart. This simply isn't true.
Yes, I fear we will remain in disagreement about this.. I was looking to better understand the v2 position, but i still don't. I am not talking about fb as it is but principals of platform economy with fb as an example.
What you describe is not much different from what we already have with scatter, have you tried to check the ricardian tab of dapps? In just so many dapps that remains simply empty... How will you ever determine the intent of code of that? My point is, if you don't have governance on the base layer, how will you ever be able to - now I say the bad word - enforce that the core principals are respected?
This is something the community will need to be educated on; don’t use a dapp that doesn’t have a Recardian contract or names a list of arbitration forums that one can choose from in the event of a dispute. Just like using a website without SSL certification is a risk today - there needs to be a level of personal responsibility people take in all of this too. Even my 70 year old mom knows not to use a website that doesn’t have a green padlock.
Through {regarbitrator} and now {approveforum} users and dapps will have the freedom of choice to come together and choose which arbitration forum is right for their dapp. The thing with being an open source free market is that if one dapp doesn’t offer the user enough choice, a new one will emerge that does.