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I'm back - Part 2 of 2

Building on what I mentioned in the last post on developing a community of practice for investment. I can think of just a few ideas, based on my reading of the subject. Essentially, I would argue that the community requires at least three main elements.

Firstly, a common agreement or set of guidelines that dictate expectations on investment advice shared in the community can help to make clear two things - the possibility of success or profit as a result of said investment (namely that no investment is comes without risk) and, the expectation of adherence of advice between investors (namely, only you decide what you invest in - do not wildly trust others). 

Secondly, a method of arbitration and moderation of disputes and information posted in the community. I would imagine that this is necessary to ensure that (1) fake news is not posted in the community that could harm it and, (2) to help ascertain veracity in disputes between investors/ members of the community. The main issue of course pertains largely to deciding who gets to become this moderator - I would imagine that it is a mixture of investment proficiency, experience and moral character. 

Finally, there should be a mechanism for the community to detect, blacklist and report potential scammers. I would imagine that this mechanism would be made clear in the original guidelines given to each member. The actual mechanism for reporting scammers for legal recourse might be impossible with the widespread usage of VPNs, but blacklisting at the very least - including deleting the offender's account might still be possible. At the very least, that would increase the opportunity cost for the scammer to persist in his malfeasance. 


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