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There isn't a better system on a board like this one, so yes we want baking. No, there isn't a better system and changing it now would be an absolute unmanageable shit show.
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100% open. Always has been, and always should be. A closed or even semi-closed system is the baking equivalent of namefagging. True anon baking, with no verification checks. About the only thing a baker should watch for before handing off is the quantity and quality of the anons posts in that bread. If they are an obvious shill with dozens of shitposts, then you wouldn't hand off.