Just want to chip in again
I said before we were at risk of becoming a 1 percent coin - that has come to pass
Huge difficulty in signing up to mine and share the rewards for the small guys
Solution
No blocks to joining or mining / stake on anyone wanting to mine up to 5000 RAC / no restrictions to heat mining / CPIDs required up to limit / other
We need numbers to come to BBP - doesnt matter where they come from
The argument some will set up multiple accts - so what? - adds up to more numbers
Maintaining multiple accts takes time and effort - making sure RAC doesnt go over 5k to max out reward? / maintaining multiple PCs / updating wallets / etc - all add up to not being worth it
Once miners / others have a small pile of BBP - they become stakeholders - then they might want to continue building a stake - ie buy
Monthly selling of BBP needs to be done with far greater discipline
No more dumping of large blocks - I believe the agument a few superblocks ago was we are allright in the short time - just needed to obtain the months target and so dump.....
This attitude towards selling just pisses off previous buyers who paid a lot more
Observe the last few superblocks and price action - you will see no reason to push the bid - coins will be dumped at any price - just put in a lowball bid and you will get hit
My 2c
PM
I understand your perspective on the dumps, and this explanation is not going to make people happy, as a matter of fact it will probably upset a lot of people.
But I do say this with experience - since I ran a hedge fund at one time (I don't run it now, for reasons Ill explain after DAHF is live, but it had nothing to do with failure, it was a success til the last day of operation). There are situations that traders run into in liquidating positions where things can get much worse the following day (think companies go out of business, leveraged buyouts, government intervention, all kinds of systemic risks, broker risk etc), where it is prudent when one wants to liquidate a position, that needs to be done and logged and finished.
In the case of BiblePay and Compassion, we have a $12,000 per month bill to pay by the 21st every month. We have 8 million or so BBP to sell between the 15th and the 25th (roughly) every month. I know you are of the opinion that we should not sell those BBP for less than a psychological threshhold. However, my procedure is to span the sell out over as many days possible, but all coins for this month need sold this month. I'm not of the camp that believes we can start borrowing from rich people here to pay the current bill, keep long accounting records, pray that our price recovers by next month, sell last months coins one month late, because I know what this leads to: Eventually you will have a 3 month downturn where we are stuck with a $30,000 bill in arrears, and our price is 6 satoshi and we have 24 million coins in the treasury to sell.
So for this reason, the best practice is to liquidate each months holdings at any price and start fresh every month.
The real solution here is to
educate our buyers that they need to put in limit buy orders below the market every month and buy up those cheap coins.