I plan to make a public offer to any communities who whose coins lack a dev or, coins that have strong communities but no direction. The offer will be as follows :-
Our bidding process will be expanded with a secondary system that lists all accepted and interested coins, essentially we would encourage them to burn their coins and be allocated new coins on our chain. As it stands we have a 6 000 000 BCR fund that has remained untouched since the very first day , over the months there has never been any real use for it and now that we have moved to backing our coin with assets..it seems an unnecessary item. Rather than burn the coins or use them/sell whatever, i think it's a great opportunity to expand the BCR community while at the same time possibly draining value from other coins and adding it to our own.
We would of course have stringent requirements for a coin to qualify and include as much oversight as we can. I think that the potential increase in community size and subsequent interest in ideas like bidding, BN mining could have some serious benefits for all.
Thoughts ?
Very interesting idea, it would surely expand the BCR community. Just replying without much thought but the first thing that comes to mind is: wouldn't create more value for the 'guest coin' seeing its supply diminished? and less value for current BCR holders 'shares'?
Well, in essence that depends on the status of that coin, there are coins that are literally dying off due to scandals, lack of developers(pump dump and run) , or just lack direction. After stringent assessment, we would have a list of viable coins, after which when the bidding is done, we allocate them BCR. Their bids would in turn be dumped on the hold outs who chose not to join us...so no... those coins would not gain value...rather depending on % interest and buy support, they would lose value.
Many of these have active members who actually contribute to the discussions and in some cases offer related services that accept the coin. The idea is to turn that attention here, because if we expand the community the pool of possible bidders expands...and the backed price has more potential to rise. We would gain 1) more member (hopefully productive ones) 2) value off the BTC made from dumping on the hold outs 3) larger pool of potential BN owners and bidders.
Most of them would gain 1) steady community (strength in numbers) 2) active continuous development 3) Direction 4) multiple revenue streams from within our system and 5) Access to all the tech and ideas we plunder from the coins who opt in(if there actually was anything useful beyond cloning).
This is a community decision and i'd really appreciate input fro as any as possible.
I initially wrote a long post describing exactly how I could trivially game this to my own profit while also, if I wished, mininising any real asset gain BCR would accrue. Luckly reason assaulted me and I deleted it for fear of giving other muppets ideas. We're dealing with very illiquid markets and there are botters out there with far more ammo than me.
Conversely I could merrily screw with those wishing to offload their currency onto us at a far better rate than they would get on the open market.
tl;dr - The idea seems wide open to abuse. One way or another we would be subsidising bagholder exits with no guarantee of any benefit worth the cost. In my humble opinion anyway.
