Topic: Byteball's Marketing Fund. Make your contribution to the development of Byteball (Read 400 times)

How is the development of the project "Byteball's Marketing Fund" going on now?
Need to find a way to make this work out for everyone.

We will create a wallet 3 out of 4 multisig escrow with trusted persons of Byteball. LoyceV agreed to be a one of the four multisig escrow keepers. We need two more people, to enhance the security of funds and start working. At the moment wallet's address is solely in our possession, but as soon as there will be people that are ready to cooperate, a new wallet will be created and all collected funds will be transferred to it.
We propose to choose these people to the community. Anyone can join our project and to control and to help in the distribute the funds. On condition that the community won't mind your assignment.
As you know, 5% of received funds will be a reward for the work on the project. For the other 3 participants of multisig escrow, we can provide 1% of the fund's resources for their working which consists in finding reviewers, advertisers, shops for receiving Byteball and in checking the appropriateness of expenses. Or they can only check the appropriateness of expenditures without remuneration.
We want as many people as possible know about Byteball. Express your desire, join us and make this a reality!

Please don't do this, and instead have the BTC/Byteball go directly to the escrow address. Ascendancy, a scam ICO that happened a few months ago did this, and things went badly. The ICO used an escrow, but funds were kept in the ICO's addresses and then moved to the escrow every 8 hours. This didn't happen when they decided to run, stealing ~4 BTC in funds.

No one wants a repeat of that.


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You are right, I misunderstood you. Now your idea looks much better. Then we need to invite two more reliable people to the project. I will make this suggestion to the community of Slack. May be you can suggest more names?

I think you misunderstood me:
I don't want to be the sole fund keeper. The reasons to use a 2 out of 4 multisig are:
1. No single person has access to the funds on his own
2. No single person can lose the funds by getting his wallet compromised or losing access to his wallet completely

With only one fund keeper, both points are at risk.

Yes, we have created a fund to support Byteball. And we want to earn your trust. As it isn't enough now,  we decided to transfer the wallet to the trusted person of the community. Yes, there is also an official fund, but we have different goals with it. I don’t see reports of the official fund's spending. At the moment, the official fund is not spending money actively on what we're planning to do. This is not criticism. Each fund can have its own goals and ways of implementing them.
We will spend money exceptionally on:
1) reviews
2) advertising
3) shops
4) exchanges.
All actions must be as public as possible. Up to the contracts with the platforms. Projects should also be discussed publicly.

Why do you think that the team isn’t approving the project? At the beginning: They asked to do the due diligence, and they’re right. They didn’t know about us and warn that we aren’t an official fund. We have added information about this already, so that we aren’t be confused.

We've gotten community support. The results of negotiations with the trusted persons of Byteball:
tonych - advised us "to invite prominent community members" и "to be transparent".
Michail1 - likes our idea. He consider that the list of people invited to participate to store the fund is "very well." He is going to participate in our project, but he does not have enough time to keep the fund's money.
CryptKeeper - does not have enough time to participate.
slackjore – thinks, that our fund is scam.
LoyceV - is ready to cooperate with us and to keep the fund's money.

At the moment, LoyceV agreed to keep the fund's money. I see no objection to appointing LoyceV to this post. Therefore, we decided to appoint him. Now we only need to discuss the remaining questions. For our part, we are ready to give him 1% out of 5% of the fund's money for his working, that consisting in checking the expediency of spending. This value can be increased up to 2%, depending on his participation in the project.  You can find more details about spending 5% of the funds in the topic header.

We have gotten the first contribution to our fund: 0.1mbyte.
We also would like to inform you that our bot is offline for technical reasons now. Soon we will resume its operation.

Everybody suppose to contribute money to wallet you provided and just have faith in your words that this is going to marketing a project that even the project team did not endorse , My question is, is Byteball lack funds for marketing their product?
Wht soliciting funds separately to market Byteball when the team did not endorse it?

We have written that we’re considering you for this post. I would like the community to confirm your reliability for this role.

You said it right, it is important to discuss all the details here. I think the disbursement should be occurring when the amount will be collected for the goal. It isn’t known how much money the fund needs to collect in order to make the disbursement.
Therefore, we need to set goals with a gradual increase in costs:
1) advertising / reviews
2) shops
3) exchanges.
All actions must be as public as possible. Up to the contracts with the platforms. Projects should also be discussed publicly.
________________________
All the money that will be received on our own wallets:
Byteball - E7E3UDNDTGBRTLN63DXJF7EXIXVQYTM2
Bitcoin - 33FJvNxyc5p5M76prfHcWeq4aEoWMMkhEH
will be transferred to the trustee of the fund in escrow.
At the moment, the fund has not received any financing.  It's easy to verify.

Yes, everyone can participate by expressing ideas, investing bytes in the fund and offering useful contacts and platforms for advertising.

I've received a PM indeed.

Before I agree to be part of a multisig escrow, it should be completely clear what can be expected: when is the escrow going to pay out, and which projects will be rejected.
I'm not sure yet how to decide on this, but I think it's important this is clear clear before people make a contribution.

Honestly, I love the idea.

Need to find a way to make this work out for everyone. 

We're continuing to negotiate with trusted persons of Byteball to transmitting someone of them the right to keep the fund purse.
At the moment, we sent our proposals to:
Michail1
CryptKeeper
slackjore
LoyceV
Wait for updates.

Hello. At the moment, the fund has not received any financing. LoyceV gave us a great idea of how to improve your confidence in us. We are intending to apply to Byteball’s trusted persons for setting up an escrow address with their help. We in turn will continue to work, and when necessary applying for money from the escrow fund to implement our plans.

Financing bitcoins is necessary in order not to sell gbyte on the exchange, when gbyte will not be accepted to pay for the review / advertising / adding to the exchange, but it's important for the promotion of the coin. The usual purchase of a gbyte does not always have a better impact on the price of a coin than promotion. If buying of the bitcoin will not be necessary, then we will buy gbyte.

You offered us a good idea. We are began to consider this option.

Yes, I have a new account, but I’m really encouraged by this project and want to work for it. I hope I can earn your trust.

I’m sorry for the late reply. You are asking the right question. Our fund is also designed for promoting Byteball. Different funds will contribute to decentralization. I don’t see any reports of the official fund about spending. They say: "The fund will pay out bounties for byteball-related work such as reporting security vulnerabilities, software bugs, user support, marketing campaigns etc."
Our priority is that popular people and sites talk about Byteball to the wide audience. As well as there wasn’t 98% of the trading volume on only one stock exchange, registration of new users is closed on which, and withdrawal is available on the passport. The official fund has more than enough resources for adding Byteball to the other exchanges, for example, Binance. They have their own view on this matter, and it is their right.
In our turn at the end of each week we promise to publish reports about money received and spent. There will be direct references to the surveys commissioned by us, advertising and adds to the stock exchanges.

Although I like the idea, I don't trust it. If you're sincere, I have some suggestions:
-forget Bitcoin funding. If someone wants to use Bitcoin to support Byteball: just buy GBYTE.
-set up an escrow address for the funds, discuss all spending with the community, and let escrow pay for all approved and succesful advertising.
I suggest a 2 out of 4 multisig escrow, for instance (if they're willing to cooperate) handled by:
CryptKeeper
Michail1
me - LoyceV
[add more]

Now it just looks like a quick way to earn money. This forum is flooded with Newbies trying to scam people. I'm not saying that's your intention, I'm saying that's what it looks like. And I'm suggesting how to get around that problem.

Fresh account, a dude nobody knows about, says he loves the project, is inspired for it, and now asking people on the forum to give him money so he does this and that. LOL. 

Thanks for clarifying… I suppose my concern comes from the fact that there is no independent accountability or means of recourse if this group does not deliver on its promises. Everything they are hoping to achieve through this effort could be done more efficiently and with safeguards if donations (for example) flow through the community fund externally designated for this project.

Would something like this work for the group? Or is the group only interested in efforts if they directly receive the money first?

We described everything that we plan to do:
95% of the collected funds will go to:
•  payment of articles and video reviews from various info-sites, bloggers and Mass Media
•  purchase of advertising on websites
•  adding to cryptocurrencies exchange.

It's all in plan. And the choice of promotion depends on the amount. We could say that we will pay for the addition of Byteball to Binance, but we do not know how much money will be in the fund.
We also said:
"It is necessary and important for us – to have an objective approach to the selection of platforms for the Byteball promotion, so in our work we will listen and take into account your opinion. You can share your ideas about the development of Byteball with us, or suggest partnership, by writing in the topic, or by writing to our e-mail: [email protected]"
Your opinion is important for us.
In addition, we described our 5% percent commission and what it includes.


They asked to do the due diligence, and they’re right. They do not know about us and warn that we aren’t an official fund. We have added information about this already, so that we aren’t be confused.