JUNO "Whale Story" Takes Dark New Turn ...

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(Edited)

Source: Post on CoinDesk about JUNO's latest screwup

JUNO Governance, "Whale Story," and Major "Choke"

As reported on faithfully by @jk6276, in this post among others, there has been an ongoing saga in the JUNO community over how to handle the alleged (never proven, not provable?) "whale" taking advantage of their airdrop.

Well, this story took a dark new turn, as reported by CoinDesk in the post above. As part of their "final solution,"

they "seized" $36M from this account
and moved it to an address
which no one can access!

As least for the moment, that is the claim. No one can access these funds? They are lost forever? How can anyone "choke" that badly, with so much at stake?

Or did they really and there is something more sinister underway? Well, of course, I have no idea, but what a mess ...

So ...

A "choke" for the record books? "Kharma?" We can rest assured there is going to be a lot said in response for a long time to come.

LeoFinance Community Governance

Yes, it is a "long way" from the JUNO community to our LeoFinance community. But governance voting and the implications for our future have been a hot topic of late.

As I have a major investment in them, I obviously hope we do not go anywhere near having outcomes like what continues to play out in the JUNO community. Should we have any concerns? "Nothing to see here?" "Move along?" ...

To be crystal clear, I am not implying anything. But I will say I do not believe good intentions are enough. What "safeguards" can be enacted to ensure we do all possible to avoid outcomes like what has and continues to "plague" the JUNO community? I hope a genuine discussion surrounding this topic might take place.

I’d love to hear any feedback you may be inspired to provide.

Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬, LeoFinance "Whale" 🐋, & Man Cave "Dragon" 🐉

🐝 🍯 🐝

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With the blockchain, I think it's just way too hard to do much against it. People can make as many accounts as they wish to get the maximum out of the airdrop. It's not like we can KYC something. The best we can do is just try to account for this and move on.

On a side note, what about making it so that only accounts that were created X days before the airdrop happens to qualify? It would at least remove any last-minute account creations but I don't think that is really a fix in the long-run.

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"On a side note, what about making it so that only accounts that were created X days before the airdrop happens to qualify?"

That is one solution. And I think a good one. However, overall as you say ...

"With the blockchain, I think it's just way too hard to do much against it."

... these new virtual creations are ultimately software. And, therefore, others can write their own software to take advantage of any vulnerabilities. With "bots," for example, this has become rather routine ...

The remarkable aspect of this story is the alleged irrecoverable loss of $36M. Due to a "typo?" Are you kidding me? How can anyone be foolish / incompetent enough to mess this up? Who "trusted" who with this responsibility?

It just seems the JUNO community has a lot of problems. We'll see if they survive them ...

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To be crystal clear, I am not implying anything. But I will say I do not believe good intentions are enough. What "safeguards" can be enacted to ensure we do all possible to avoid outcomes like what has and continues to "plague" the JUNO community? I hope a genuine discussion surrounding this topic might take place.

I’d love to hear any feedback you may be inspired to provide.

Dear @roleerob , Perhaps you have invested a lot in the JUNO community, and I interpret that you got unsatisfactory results.😅

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"Perhaps you have invested a lot in the JUNO community ..."

Very little. Sadly, upon hearing this "whale story," I had originally said I would simply stay out altogether though. 😏 But ... I didn't ... It is the principle, more than the $$s, at this point.

I would just like to see the LeoFinance community learn from this, for when their own governance votes get going in earnest.

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(Edited)

Dear @roleerob , Perhaps now it is dawn in the Rocky Mountains. I guess you're not sleeping right now and you're busy with your business. I wish your business success.

I am currently thinking of writing about American history and literature. I especially want to write about Robert Howard, the author of Conan the Barbarian.
So, I would appreciate it if you could criticize my article.😄

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