Here's your first post. Now explain how you can conveniently "forget" to mention this important thing about 7 million pre-mined coins.
I mean I'm ok with pre-mined used to benefit a coin with bounties and the laundry idea. And 7 million might be a bit excessive. But not mentioning it before you got people to mine your coin is unacceptable.
Good point. Where did you say anything about 7 million premined coins?
I admit I am mildly avoidant of the issue due to it being hotbutton for a lot of folks, though, to be honest, Ixcoin did that in a much less elegant and much more burdening way, with far less innovation and net benefit to community (I'm not counting the "I made 500 bucks on Ixcoin, lol" kind of benefit), and it's not like it's dead as a result or something
As I indicated it will take the network at least 93 days to generate 7million coins.
You think 3 months head-start is more than enough time to get things in place?
I -hope- to have the laundry running in 2-3 month, but so far I'm on the lookout for devs (especially ones who want a Geist bounty)
So to be fair, it would be best if you compared bounty+faucet+small stuff fund of approx 2+ mil with the net performance, not including the 4 mils I intend to "forever bind" in a Laundry.
Also, one of conditions for bounty projects (which GG will traditionally have, stand by for list) will be that they are made open-source, so that everyone can benefit from them
a wonderful laundry service that guarantees 100% squeaky clean GeistGeld (mined, no history attached)
Eh ?
I suggest you create a set of board members who will hold each an equal amount of those 7 million for bounties so that there is accountability.
Say you had like 10 people with each 700,000 GG and they were reputable in the community. I think users of GG would be more apt to want to put trust in this project.
That would be an awesome thing to do, but it would require a system of public accountability not yet in place (But I do intend to take a stab at placing a bounty on Bitcoin Contracts implementation for Geist, though I somewhat doubt there will be takers)
It also raises issues of how does this thing manage the Lolcust Laundry which, I must admit, is an idea I am very attached to (because I always dreamed to launder large sums of moneys, lol
)
Currently, accountability is trivially managed by watching blockchain as to whether I am trying to sell off a large chunk of superfund, trivially done as soon as geist gets an online explorer.
A complex structure with 10 people would be far harder to monitor, and in the end due to ephemeral nature of all cryptocurrency, just as questionable in terms of accountability.
Also, consider this:
Unless Geist explodes in popularity to Tamagochiesque proportions, there is no chance in hell of ever selling off even 1 000 000 geists in "a chunk"The whole point of Superfund was that the biggest part will end up "bound" forever while a smaller part will slowly trickle to people willing to contribute time and effort to bettering Geist (and other chains, since everything is gonna be open-source,
even the Laundry code, *yes bitcoin laundry, I am looking at you
* )