There is a lot to love about Status however some of the usages of SNT do pose ethical questions.
- “SNT is used to make decisions on proposals, which can be made by any Stakeholder. For each decision, the token is cloned into a separate decision token. The amount of tokens you hold at that time becomes your voting power for that decision and it does not cost SNT to vote”
“Over the past 20 years, the internet as we know it has been controlled by a few corporations”
^^While it might not cost SNT to vote you can purchase Ethereum and convert it to SNT so it seems to me you have introduced the exact same weakness making it totally possible for the oligarch elite to completely take over status should they take interest in this project. Even if the Rothschilds, Rockefellers and other current Oligarch families take no interest in Status then you have still created a NEW system of elitism based on currency. My point is that your comment about the same corporations controlling the internet will either not change as your system allows them to infiltrate it OR you will just have a different elite take their place. Potato, Patato, what am I missing?
- Voting up or down requires SNT
“The more DApp developers invested to increase their ranking, the cheaper it will be for you to downvote. This reduces the risk of well-funded DApps to take over and make your vote on the DApps usefulness count”
^^These safeguards are likely not effective. https://www.cnbc.com/2020/08/27/wealth-gap-grows-as-rising-corporate-profits-boost-stock-holdings-controlled-by-richest-households.html
I guess the first question here has to be what the hell does currency have to do with up or down voting anything? Secondly when 80% of the stock market is owned by 1% it doesn’t matter how cheap you make it to down-vote, you’ll likely never have enough to make a difference. If it actually does make a difference then you might as well just lock it at one vote per person. The way it’s setup just seems like financial exploitation especially if you are heavily invested in Ethereum.
I get that you need to fund the project but it seems to me like you have an economic system setup that mirrors the profound exploitation of our current failed economic system. There are other ways of generating money that do not include creating an elitist environment.
Again this is how it appears to me. If I am mistaken I am happy to stand corrected.