Hello Sphere,
I believe that GLB is in for a great start. I prefer slow increases than pumps and dumps. Since both exchanges are online for GLB, we have seen an healthy average of 1.3 times profitability for GLB against BTC. That is almost double of any other SHA-256 coins on the market!
We have been over 2 months online now, I think the GLB community (shareholders - hahaha) - would like to see a report of where the 10% for dev-team and marketing went so far. That is almost 100k GLB. With the website, we know where the 10% for Reserve and PSM are - that is good. We still have to continue the conversation of where to put it in escrow...
But for Marketing, we know that you did a lot of Giveaways, bounties, etc - that is ok - that is what it was intended for. For the dev-team... I haven't seen any improvement on the client, or anything like that. Could you provide us a report for this last 10% of the tax?
We know you are busy, but your are the "Great Kahuna" of GLB!
Best,
Hi,
No problem. It's important you guys ask questions to keep from me or people in my position in the future getting corrupt. So yes you all can see the break-down of the reserves and stabilization.
I want to really run the 10% dev-team tax almost like a private company. So I don't intend currently on showing all the nitty gritty giveaway numbers. To be honest, to this point I have not calculated how much I have spent on giveaways and bounties. You will continue to see an increase in marketing efforts after the site is up. I intend to buy ad space via BTC ad providers such as BTC-Clicks etc. Yes, you can therefore see I have converted some GLB into BTC so we can purchase BTC goods/services to advertise.
As for development this has been a bit of a nightmare. Their are only a handful of alt-coin developers, you can probably count them on both hands. Due to the demand for alt-coin developers and only a few with the skill, they require lots of BTC to get things done. Due to the low GLB exchange rate the tax Is simply not enough to cover the cost of getting really cool features up and running.
As I increase advertising spend and hopefully get more people buying GLB it will push the price up, meaning I can employ great devs or offer very good bounties using BTC.
If I can't find a developer to implement the price stabilization and reserves soon, I may just do it my self. Probably, taking longer then a professional developer to do and not being of the same coding quality.