Hi msg768, thank you for this insight into the SmartCash structures. It was certainly interesting and shows some serious concerns.
I would like to start with why you took the bots? Weren't you paid to create them for SmartCash? Why do you think you own them?
The fact that the founders rewarded themselves handsomely is pretty common in the cryptoworld. We see skewed distributions all over the place, for example Steem or even worse EOS and yet have grand hopes into the possibilities for these coins. I don't like it but that doesn't mean I think these coins are doomed. Quite the contrary. I feel very similar about SmartCash. Also, what you describe is a typical problem that all decentralized coins face: The first few years are still very much centralized and must gradually try to decentralize more.
However, SmartCash is currently suffering from an aggressive voting strategy from the whales. We didn't need your post to see this. For the past two months or so we see millions of votes smashing down the vast majority of proposals while before that we rarely saw more than 3 million total votes. The biggest problem with that is basically that it appears as if proposals are being decided by a few whales alone.
This is a big problem for growing decentralization of votes. Steemit inc. for example is never using their upvote power and only intervene by supporting dApps with delegated Steem Power. Making proposals censorship resistant and limit the massive influence of the founders in favor of more decentralization is something to strive for in the future. As it is in the best interest of the SMART blockchain I am sure we will find ways to make that happen together with the whales.
Also, I think that the Ben Swann proposal was indeed overvalued in terms of reach. But I also think that it was a prestige thing to support someone from the alternative media and freedom community. SmartCash has a lot of the Anarchapulco vibe and should in fact sponsor a few more people with maybe slightly smaller payments to create SmartCash sponsored content. I can totally understand why the whales threw their votes at him. It would have been nice to see Ben hold the coins instead of dumping them. Maybe this could be a part of a future proposal.
To repeatedly compare SmartCash with BitConnect is a pretty low attack, though and the only reason why I didn't upvote this otherwise interesting post. BitConnect was an obvious pyramid scheme that was doomed from the beginning. SmartCash on the other hand is a feature rich crypto with tons of cool open source development and a great vision. Managing the community treasury and voting process in a more decentralized way is achievable and I don't see the founders blocking that as they want to see SmartCash thrive more than anybody else.
And finally, dropping chunks of the treasury as airdrops on the holders and exclude the whales would surely redistribute wealth and voting power on SmartCash. My initial thought was that it would be a bad socialist move. But that would not take away anything from the whales, just make the community more powerful and lower the way to blown-up treasury, which will continue to grow afterwards anyway. On the other hand it would most certainly create a huge selling pressure on the price as many would just want to cash out the extra money to survive the bear market. So I don't know about that one.
All-in-all I think your post will hopefully by heard by the whales so that we can all come together and solve the decentralization problem for proposals and treasury instead of fighting and creating FUD for SmartCash. The price will probably drop much further together with the entire market. I hope I can use my chance to get a bigger stake then because I believe in the future of SmartCash. It is just so much more fun to hold and use compared to most other coins that I cannot help myself but to be optimistic.
You may need to define "SmartCash" and keep in mind that smartcash.cc or the so-called official hives are not a company or corporation. I did not get paid by any company or corporation to work for them. They sometimes make it sound like that's the case but if that's the case, I'd like to know what their license number is? The heart of the issue as I explained above is centralization of power vs. decentralization of power. The founders started with an extremely centralized system but promised to decentralize things eventually. That unfortunately hasn't happened yet. They want to control everything for the sake of influence and that's why they are mad at me for not letting them control the tipbots and their social media accounts.
Markus Ghambari being paid by a collective community group, and then absconding with that work product, do you really think that there is not a legal issue there especially in Australia and NSW state laws, which apply to you? Maybe your own guilt caused you to act badly and now you have doubled down on it, but continuing to besmirch the SmartCash name which includes the community and team, as they are inseparable. will not end well for either you or smartcash, it would be a net negative. in relation to decentralization, not sure if you were paying attention, but the hives went from 3 hives to 6 hives this year furthering the decentralisation, each of these also have there own social media etc, as you were not part of these hives activities you wouldnt even know what is going on in those hive chats etc
Jarrod Hockley-Franks, I didn't hear a license number or an ABN. But in the case of your statement, I would like to see smartcash.cc regulated if you like regulations so much. I do not have and have never had any contract with anyone from smartcash.cc so technically I have been working for myself. I'd like to see the contract I have signed if I'm wrong. Having said that, I'm committed to the community and I'm working on bringing the bots back live with my own funds on my own server since the founders have emptied the wallets. BigD is chipping in as well in this cause to help me show my good faith towards the community even though technically speaking I cannot be held responsible for anything whatsoever. Because the tipbots had a very simple term that no one can be held responsible for any lost funds in order to discourage people from holding their funds in a risky and centralized system. And if anyone has stolen here, it's those who have emptied the wallets without my permission and have now banned the discordbot on their server and are even reporting the new discord server I have made in order to allow users withdraw their funds. As with the 3 new hives, I'll get into that in the next episodes. I'm sure being one of the new hive coordinators you're well aware of the fact that not only the budgets of the 3 new hives are much less than the first 3, meaning the total balances, but also the founders can use sporks - soft fork - to disable them anytime which means these hives are not really independent. Not to mention even if they were, it would still not solve the issues of the fact that they're not operating based on any community consensus or voting but are rather forced upon the community. But yet again even when we get to consensus and voting, we still have an issue with at least initial unfair distribution of the block rewards. We either get real with these serious issues and seek to resolve them or we sit back and pretend it's all okay and ban, censor or fire anyone who raises them.
The community pays you?
Well we would REALLY like to discuss your wage and terms.
Sincerely ~Everyone you tax with inflation and no transparency~
Fascism (/ˈfæʃɪzəm/) is a form of radical authoritarian ultranationalism, characterized by dictatorial power, forcible suppression of opposition and strong regimentation of society and of the economy, which came to prominence in early 20th-century Europe.
Focus here since you are so dense: forcible suppression of opposition and strong regimentation of society and of the economy
I'll give you the benefit of the doubt since you likely got used to the beaches of hawaii during the bull run and are worried about next season. Get your morale standards up please.
If they are operating as a business without a license they are already breaking the law... if they payout "dividends" they are already breaking the law... Eventually the law and the police will catch up, in the mean time, learn who it is legal to pay, or be paid by according to local law...
P.S.:most financial crimes involving deception don't have statutes of limitations.
SmartCash posted that you demanded a ransom payment of 5,000,000 SMART. Is that true? And if yes, why did you do that?
Please read my comment HERE.
@flauwy and well articulated and balance response.