Here a conversation of this in another thread of the fund:
It's an interesting concept, however my doubts lie in the fact that it typically is not an issue with the Dev's abandoning it, an opensource project can be updated by anyone in the community, if a community is large enough because the coin attracted enough people due to it's innovations/marketing place, it will be taken over by someone to ensure it's survival.. It's the survival of the fittest coin!
Wouldn't it be great to get a lot of people together and let the coins survive due to strength of concept and not the randomness of the coin?
I moved the main topic here, btw:
https://bitcointalksearch.org/topic/m.6294074Indeed, but when you are talking about strenght of the concept, if it is really a strong concept, the community will take over on it's own and take over if it gets abandoned. Taking over a coin is hard work, being in the KittehCoin team myself, I can tell you it's hard work and the community expects a lot from you with no compensation at all, nowadays for a coin to be successful from a dev team perspective, pre-mine and IPO is a necessity, you need funds to run a project like that and unless you are a bunch of people that are rich and have all the time in the world, it's going to be extremely challenging. Just my two cents, honestly, I think it's a good gesture and all and who knows it may work out, but there's so much competition right now that it's hard to deal with something that has already had bad press.
Thanks for your input
Wouldn't it make sense to combine your team with other teams in an organization and spread the workload? For expertise knowledge you can simply get somebody from the fund instead of wasting many hours looking for somebody.
From a money point of view, we could also have a combined fund that invests in these upcoming coins and uses the profits to pay for the costs and give all the contributors compensation for their effort. Next to this, the best thing is to keep it non-profit, to avoid legal problems.
Would you guys be interested in contributing a bit to the foundation? I will add this conversation to the main topic,https://bitcointalk.org/index.php?topic=576714.msg6319111#msg6319111 , so it would be nice if you could respond there
