wow it took this long to take action. this should've been done months ago. why wait until the damage is done to do something. All this was known (the data and math could've been done any time and the damage could've been minimized way earlier but nobody made noise because as decentralized as people/hive claim to be; it's not. there's big top whale holders making decisions and some of these decisions aren't really in the best interest of hive.
future proposals need to be way better, way more strict and all spending should have accounts publicly shared with receipts to see how the money is being spent so we can take accountability more
It's still better to act if you know things aren't working out, than not act at all, right?
true but would you rather act when someone stage 1 cancer or stage 4?
Doesn’t necessarily need receipts, as there are lots of personal details on them, but regular spending reports is good to see if spending is ahead or behind, what was spent and why and wether the spending is affective, that’s good enough to show productive spending is being done and as long as the spends are reasonable, it’s good (IMHO)
personal detail can be blurred out. key is the items being purchased and for what amount. Like we don't want to see stuff being overpriced and whoever handling the budget to pocket the extra amount. with everything being more transparent as well there might be fellow hivers that can see the costs and maybe even offer a cheaper, better alternative.
Yes agreed, and this is normal practice when it comes to making spending accountable, and should be expected in regular reports from funded projects
Double entry bookkeeping avails the receipt only upon audit. However, when audited, those receipts need to back the books. GAAP is good enough for every 7-11 in the world, it's good enough for Hive.