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RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
In my design I posit that phishing, theft, and (Sybil attack) sockpuppets will not be profitable. So there’s no need to enable any other form of punishment. The activity will not be worthwhile so it won’t exist. No one will see the activity because of the not-one-size-fits-all rankings.
I think you’ll just need to reserve judgement until the said design is published/launched.
I guess I should, but I really don't see how you can make crime not profitable except through accountability. Phishing will always pay because the end result is that you get someone's wallet and money. Instant payday. You also get an account that you can use to upvote yourself and spread more comments that you can upvote. It's almost Zero work, so it is actually worthwhile because it doesn't cost anything to do. Maybe you've thought of a way around this. That would be nice.
One day after I wrote:
Martin Armstrong wrote:
We can attempt make wallets and procedures more “dummy proof”.
Are you proposing we should have downvoting or centralized control so we can penalize or recover stolen accounts? I disagree. The best way for people to learn not be fooled, is to be fooled a few times. And I don’t see how downvoting would help. The user who claims he was defrauded could be the one who is lying. You’re basically asking for a centralized system with a centralized administrator and strict identification procedures for all users. Sorry that is incompatible with decentralization and freedom.