I'd like peoples opinions on bounties. I think most observers of crypto can see that for most coins 5% of people do 90% of the work. Sure, lots of people post supporting messages in the threads, but when it comes to 'doing things', like setting up websites, running give-aways, setting up nodes, contacting exchanges etc it's a matter of rounding up the 5-6 usual suspects and hoping they don't get burnt out and disillusioned before the coin is airborne.
I have followed NXT and Qora closely, as well as many other coins, and it's always the same pattern - a few key people do most of the work, while the majority of stakeholders either do nothing, or offer 'posting support' without actually doing anything.
I'd like to suggest a bounty regime that recognises this pattern in crypto, (and life generally) - in group activities a few key people will do most of the work, and most of the time they don't get rewarded enough, and sometimes they get disillusioned and quit.
I'm proposing we consider distributing Kora in the following way:
50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing
That's 75% for the 'core' functions, and to establish a community of ~3,000 users.
What I'm proposing is we keep the remaining 25% in trust to be distributed to the '5% of kora stakeholders who'll end up doing 90% of the work'.
We wont know before hand who those people are, but I'd like to think the Kora community as a whole could nominate, and then vote to award 1-2% 'power bounties' to community members who contribute day-in-day-out.
In the NXT community there are about 12 people who do MASSIVE amounts of work for the community, but there aren't any community bounties as such. They have the unclaimed monies & a community fund, but nothing like 25% of all NXT. That would be the equivalent of 250 Million NXT to distribute to guys like damelon, wesley, jl777, CfB, CIYAM etc etc!!
The same pattern is obviously at work in the Qora community now - 3-6 people are doing everything, and all Qora stakeholders can do is hope and pray they have big enough personal stakes to stay motivated long term. In the NXT community some of the biggest contributors have small stakes (hard to believe but true), and that's a long term problem for NXT.
I know it hasn't been done before, but I think it could overcome one of the biggest failure points for many coins - the people who do the most don't get rewarded, so they lose motivation, so momentum is lost, and the coin dies. Maybe that's what happened to Fairbrix (the scrypt coin BEFORE Litecoin that mysteriously died).
I think if Jean-Luc didn't have 50 million NXT from being an original stakeholder, NXT would probably not be doing so well. How lucky for NXT that one of the 8 guys to send a full bitcoin was a super talented Java dev with the ability to drop everything else and work on NXT full time. (if you're looking for a BCNext conspiracy theory, why choose the Qora dev when we've got Jean-Luc - a much better conspiracy theory).
I think having a war chest of 25% of all Kora coins for community voted 'power bounties' would ensure enough committed people have enough motivation to keep pushing Kora forward. We could keep the 25% in an escrow fund with a trusted third party.
What do people think?
I have followed NXT and Qora closely, as well as many other coins, and it's always the same pattern - a few key people do most of the work, while the majority of stakeholders either do nothing, or offer 'posting support' without actually doing anything.
I'd like to suggest a bounty regime that recognises this pattern in crypto, (and life generally) - in group activities a few key people will do most of the work, and most of the time they don't get rewarded enough, and sometimes they get disillusioned and quit.
I'm proposing we consider distributing Kora in the following way:
50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% -goes to the dev who clones Qora, and creates the Kora wallet applications
10% - goes to node bot bounties
5% - website & marketing
That's 75% for the 'core' functions, and to establish a community of ~3,000 users.
What I'm proposing is we keep the remaining 25% in trust to be distributed to the '5% of kora stakeholders who'll end up doing 90% of the work'.
We wont know before hand who those people are, but I'd like to think the Kora community as a whole could nominate, and then vote to award 1-2% 'power bounties' to community members who contribute day-in-day-out.
In the NXT community there are about 12 people who do MASSIVE amounts of work for the community, but there aren't any community bounties as such. They have the unclaimed monies & a community fund, but nothing like 25% of all NXT. That would be the equivalent of 250 Million NXT to distribute to guys like damelon, wesley, jl777, CfB, CIYAM etc etc!!
The same pattern is obviously at work in the Qora community now - 3-6 people are doing everything, and all Qora stakeholders can do is hope and pray they have big enough personal stakes to stay motivated long term. In the NXT community some of the biggest contributors have small stakes (hard to believe but true), and that's a long term problem for NXT.
I know it hasn't been done before, but I think it could overcome one of the biggest failure points for many coins - the people who do the most don't get rewarded, so they lose motivation, so momentum is lost, and the coin dies. Maybe that's what happened to Fairbrix (the scrypt coin BEFORE Litecoin that mysteriously died).
I think if Jean-Luc didn't have 50 million NXT from being an original stakeholder, NXT would probably not be doing so well. How lucky for NXT that one of the 8 guys to send a full bitcoin was a super talented Java dev with the ability to drop everything else and work on NXT full time. (if you're looking for a BCNext conspiracy theory, why choose the Qora dev when we've got Jean-Luc - a much better conspiracy theory).
I think having a war chest of 25% of all Kora coins for community voted 'power bounties' would ensure enough committed people have enough motivation to keep pushing Kora forward. We could keep the 25% in an escrow fund with a trusted third party.
What do people think?
I totally agree with you. I think that everyone can do something, the important is to know it BEFORE. I'm not a dev but count me in also for the dirty work
