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@samueldavidkeyes
You will get a little bit of adjustability by tightening more or less, but this is not advisable as you can damage your components. You don't want to tighten so much that you initiate fatigue cracks or stretch out the taper in the crank. Usual torque figures are somewhere in the 32-39nm range.
On the question of removing a chainring, you can, but will need to space with these otherwise the bolts will not tighten properly:
http://www.jejamescycles.co.uk/id-outer-chainring-item153898.html
You can usually mount the remaining ring on the side of the spider which gives the better chainline if you're doing a beater job, though putting it inboard may not be aesthetically pleasing.