Lessons Learned from SmartBCH Conflict - Cryptosorted vs BCHPad

Note: The views expressed here are solely mine and in no-way meant to attack either side. Instead think of this post as a lessons learned from conflicts.

For those who have invested their time and the money into the smartBCH so far have heard of the conflict between the maker of BCHPad and the cryptosorted community owner.

The conflict isn't just one is right over the other or what one does for KYC is better while he or she remains in the anonymity himself. A lot of to and from arguments can be made. And you would find this conflict not ending if things are not escalated the right way.

Here are some of the lessons we can learn from the conflict like this.

Anti-Centralization argument is Useless

A lot of people are inspired by the anonymous and V movie for making decentralization as their mission of life. But think about it based on this conflict itself decentralization is not something we can think of when the people in front of us are strangers and anonymous.

Like at some point of time we are forced to show up our face and the real life persona to the world. And that's where the whole castle of decentralization collpases. If decentralization is achievable then why the BCHPad owner asks for identity of project owner but can't reveal his own? Isn't that how we learned to hate govt for it's one sided stance?

Decentralized Systems still requires Trust

You can't have trustless systems running like bots. There is a reason DAO was invented or there are governance protocols and the teams building various blockchain solutions. If you don't have public trust or the trust among your team, it becomes difficult later.

You need to build more trustful layers in the decentralized system. Because launching project is not like swapping coins one for the other. You have to meet the customers on each launch phase and so there needs to be trust on both project and the owner.

Community Owned means Still Players Involved

You can say that we run this XYZ project using the community. But that means it is upto the community to find the leader, manager and the user centric operator. If we can't find that or have that in a system. We can't say that it is a community owned project or community specific project.

It is the thing about most of the communities where they elect the person and let the system work in process. No process and no trust means the system is dommed to fail.

Adding people, process and system makes it Govt

Do you hate govt? because the communist portrayal of the govt over the years? Think about it when you have people involved in project be it decentralized or not. More process, more people and the automated or manual process gives you what? A govt. And what does that tell you? It's a centralized approach.

The reason bitcoin remains the king is because it does not involve people and process anymore, nor it involves innovation. So the process here is like that tap water that will continue to drip the water.

Rug pulls increase when Anonymity becomes one-sided

Think about it. We are ready to do KYC but the exchange hides its team, owner and worker in the organizations. And that tells you what? It's one sided KYC. And we don't even know who and where the people may be storing the data and how they are using it when govt is not asking for that data isn't it?

Rug pulls thrive in this gap. Where the coin owner is anonymous unless exchange or launchpad doesn't ask for it. Rug pulls also happen when the launchpad companies themselves choose to not return the funds of investors or the project owners. Isn't it?

Stop Polarizing Anti-govt. Narrative. Regulations are inevitable

You may hate me for this as much as you want. But hating govt and hating regulations would only expose you to the elements in society which are not accountable when they scam you.

You may put the MLM leaders to the jail but you can't do the same with crypto coin owners. Why? because you don't want govt to meddle in crypto. And so the polarization of anti govt narrative and opening up to the wild west of scams is going to be thriving in this period.

So let's sum up all of this into our conclusion, because we can go on and on various issues in the crypto and we have to come to the lessons learned part.

Conclusion

Do your own research. If project owners and launchpad owners are anonymous, your investment is more risky than gambling. Anti govt and anti regulation narrative does not save you from rug pulls and scams. It increases them.

If you want decentralization to work, make sure to know when to discard anonymity and not make it one sided affair.

Again, do your own research and decide how much to and where to invest.