Topic: [ANN][XRB]Cryptocurrency's killer app: RaiBlocks micropayments - page 610. (Read 775150 times)

why are you in crypto? if you don;t want to make money by buying low selling high?

where is you logic of investment?

why is it dirtier?

Coin right now has so many followers, an ICO would only raise a small amount of funds most likely . then any time the currency looks like its going to rise in interest of value someone who paid 10% into the ico is gonna dump coins for profit.

With an auction , as time goes by, as more people every week or month begin to use it, once the dev strts to dvelop apps and create real world value and use to the coin, the auctions will increase in value in relation to the marketcap in real time

he is selling now!

bid auction is dirtier than ICO!

let alone it will last one year or two years.

yes you're right .. but you can see how many poeple thinkin now dev is selling the coins.

Maybe there will be more faucets after the auctions. (on the old way with ads/banners)

Lets look at the mechanics of it and the economics

Some people hire workers to solve the captchas, some of those that have huge amounts of workers , instantly dump coins onto the market because its 100% guaranteed profit, they are incentivized hugely to claim as many coins as possible to make as much money as quickly as possible . claiming more coins than most other people making the distribution less fair . Not all are doing this but some are

An auction weekly , with the top 7 bidders winning chucks of 475k of coins , are in competition with each other, anyone who is looking to buy coins will no longer offer a price on a trade thread, they themselves will bid on the auction , there creates a competition , this also disincentives manipulation or accumulation to instantly dump because those people they would of dumped into previously , are now able to buy from the auction , less incentive for people to profit instantly off of it , and spreads the currency around.

because the auction is weekly and the prices will constantly be influx and more people can get more larger amounts of coins , less people are going to be buying to just straight up dump those coins , because they wont be able to , because the people they were going to dump on also bid in the auction .

since people buying in the auction cannot dump for instant profit , they are less likely to just buy 1 chunk every 7 days and keep buying more and more , especially if they are in direct competition with others and would just raise the price  

Limited captcha per hour(or less) beacuse of time zone differentiality.
100 captchas per hour, or 16 per 10 minutes. or reduce the reward and put more captcha opportunities.

a percentage for every captcha solved for DEV.

big btc = high bid = bag holder!
LOL

put 80% for free faucet. and make it fast.  

you can keep 20% for dev fund.


or

make it in traditional ICO mode.


the daily auction last one year is bullshit.

Yeah i understand , there are a few people i have talked to that have asked for help and have specifically stated that their problem is they cannot run the wallet on their computer so they cannot do it themselves and i pointed them in the direction of the most honest threads offering the service i am not completely against the service myself .

I think that there is some golden ratio that can be achieved to lower the incentive of so mny faucet solvers solving the faucet and perhaps keeping some aspect of the faucet open if discussion were to take place, i just honestly think currently the dev has spent like 3-5 days instead of improving and upgrading the code of the coin being stuck for 8-10 hours a day trying to solve this captcha problem of mass accumulation over loading of servers and massive amounts of msgs and complaints when the faucet isn't functioning and has gone for what he seems as the most productive way to distribute coins and allow himself to further progress the coin .

Depending on public opinion in the next few days he might have another think about it and think of a different way to deal with it, if this method ends up being bad or worse than before , some people think it might end up being , i honestly don't think its super bad, but its simple and takes a huge work load off the dev .

A mixture of auctions , IPO of a specific amount of coins and a very low paying faucet , would be a good combination , allowing people to test the service withmicro transactions, people allowing to buy and speculate and perhaps pick a few up cheap in an auction week when someone doesn't notice it , and also distribute the coins in the ipo and spread the coin and raise some funds .

but the amount of effort required for a 3 pronged approach would be even more work than the last 3-5 days he has done

believe me your plan won't work!

We'll continue the auction, no matter how low people bid.

what if RAI hit exchanges during distribution?

To distribute 50% in year one we need to push out 475k per day.  7 lots of 475k is 1 week and we'll do another 7 next week.

?  what do you mean by 7 days?

Thank you. I feel that hiring captcha solvers was just following its natural course, and if anything it actually raises awareness. A lot of the folks I hired, actually want to keep some Mrai for themselves, so I view this as a positive, because it's showing people there are more interesting rewards out there. I have a queue of 100 people all waiting to be hired, and I believe, eventually most will decide to keep good chunk of Mrai for themselves.

If we have the auction, I may not bother with the captcha solvers. But I think it's a mistake to kill the faucet altogether.

i think just start the captcha and make limit /day.

To clarify an auction covers 1 week and I'll send out the first 7 days tomorrow.

or make 500 XRB one time with 1 minutes interval.

all 80% open for distribution. to speed up the procedure.

20% reserve for dev.

I think we can save pain and time in this way to finish distribution as soon as possible.

leave the market to decide who will hold or dump.

no not you, there where others that were claiming they where the owner of the faucet and they where "fixing the problem" themselves

you did it honestly, i am not included you in that description