kosmost, would it be overly personal to ask what your occupational background is? Specifically, have you ever been involved with business ownership in the past and or marketing experience prior to the last few months with Karma?
Additionally, could you give us more details how the KarmaShare Cons will be held and who has access to them. Sure, you mentioned "in the cloud"...and I believe you replied earlier that only you would have access to these coins. I would appreciate further details where the coins are more specifically if that is possible. Also, has the idea been kicked around with the management team to allow for more of a multisig keys with respect to gaining access to the KarmaShare coins? In other words, multiple people have keys to the coins, yet all or a majority of keys/passwords/you get the idea are required to gain access to the coins. Something along those lines that would disallow a single person access to the coins. I reckon there are some pros and cons of the principle, but was curios if it was kicked around at all?
Thanks for your commitment and long days!
Really liking the possibility of the Search Engine Monetization Concept using Yahoo Boss by the way. That one just may darn have some legs.
Hi. Good questions. The wallet is held offline in secure storage, not "in the cloud". I have access to them, and no one else. This will change in future but probably not anytime in the next couple of weeks. As the Responsible Person for the LLC I have to ensure that the wallet is being managed responsibly. The only way to be 100% sure is to do it myself. I don't know if multi-sig is implemented now but if not, then it is something to consider.
The plan is to hand control of Karmashare funds (your wallet) over to a trust once we have that set up. It is my opinion, though, that the funds be managed by the community rather than management. It could be management's job to make sure the community gets what it needs (such as I am doing now) rather than acting in self-interest.
Any outgoing funds should be voted on, in my opinion. We can do this in an automated way through the Share Explorer in future.
For example: "Marketing Budget for XXX: $xx,xxx equivalent of Karma" [change value // approve // comment]
or, "We are planning to do XXXXX.. Here are the benefits.. Here are the possible challenges...." [vote // comment // fork]
etc
However, please remember that we are only 5-6 days into it now. There is still much that isn't set up. I'm doing the Shares and Points list manually (as well as the PDFs), for example.
Among other reasons, it's why we're giving you a 10x bonus now.
If you're more comfortable with investing when everything is set up, you can always do that at a later time.
Think of me as your Marcus Aurelius. When Rome is safely into the hands of its citizens then I will quietly step aside and be just an advisor, knowing that it is in more capable hands (yours), with a Senate (management) whose job is to execute the will of the people.
