I’ve gotten a lot of flack for this title. Before shitposting and claiming its clickbait or “FUD” read the article, thanks.
Before diving in I’d like to make very clear the Odyssey team is clearly engaging in market manipulation. There are two sides to this. One side being who cares, its an unregulated market AKA its all manipulated, just depends how heavily. Flip side being they have taken price manipulation to the next level using social media. I wrote about how the LUX and OCN teams manipulate markets weeks ago, and just recently OCN dumped 40% pre-airdrop announcement after weeks of heavy shilling.
OK. brushes sweat off forehead Lets dive into it.
“The Future of Decentralized Sharing Economy The Foundation of Global Peer to Peer Ecosystem” ¹
OCN Whitepaper, No Page Numbers… Did you get an understanding of OCN from their mission statement? Probably not. Neither did I.
While OCN specifically lists this as a current detriment, depending on how you view it, their solution either changes nothing, or makes the current system worse.
Using Steem as an example, using upvotes as a payment system leads to a glut of terrible content and upvote bots. How Odyssey will identify “improper interactions” is not elaborated on. Considering this was a specific critique of the current system, their solution is surprisingly terrible and extremely vague. They attempted to solve this problem with this solution:
This is not a solution, its a process with no purpose. What happens during the 7 day freeze? How is Odyssey able to identify click farming from genuine clicks? This is a very short paragraph considering its a massive problem.
Again, without a stable currency an economy cannot function. Services available for purchase are not elaborated on.
This is a clear catch-22. Where do the first community operators come from? The previous “Service Consumer” paragraph implies data is collected over a lifetime.
This is in direct conflict with the entire mission statement of Odyssey. If voting power is determined by OCN holdings, the richest have the most power and control. To top that off, the votes actually don’t matter as the Board of Directors has absolute power and control and can veto any votes.
Very vague, no clarifying information whatsoever. If incentives are to high OCN will begin to inflate in price.
Incentives are left undefined in this paragraph, and throughout the whitepaper. Odyssey’s peer regulated review system is in direct contradiction with the rating system, as the rating system is able to identify and remove “improper interactions”. Why this can be done with ratings but not reviews does not make much sense, especially considering how closely related the two are.
Generally advertising is done to build traffic. I’m curious as to why they are choosing to advertise once the platform has a “reasonable scale of user base and traffic”. How are advertising profits realized? By users joining the platform? How is the advertising paid for if there are no platform fees?
I read through the entirety of the whitepaper, and have decided to stop critiquing further passages. The actual concept of Odyssey is so vague even after reading the whitepaper I still have no idea what it does. The amazing thing is, even with an unclear purpose, its extremely clear what its doing wrong. I’ll leave you with some absolutely nutso excerpts from the whitepaper:
As always, DYOR. I have no doubt OCN will continue to perform fantastically price wise, and I am a large bag holder. Why? You should know this answer by now. Greater fool theory. Shill power. Don’t overthink it. Remember, tech is dead.
