Also there should be a possibility to donate your own devcoins (not from the 90%)
There must also be a possibility to take pledged money back if a proposed project/development does for some reason die or selfdestruct.
So many thoughts...
That is a great idea to add to the bounties as well! I may look into doing something like that once I am done with the "official bounty" thing. I will have to look into more of how things work on the back end to do something like that, but it is a really good idea. There are going to be things that people want to have done that won't get picked up by the official group, and they should be able to fund it themselves.
Chad
Forgive me for posting this plan here, but I don't have access to Devtome. I have been working on it over the last few hours and think it is relevant to the discussion. Let me know what you think
Devcoin Bounty Engine
Introduction
Devcoin’s model of paying out shares of coins for creative, technical and administrative work has a few barriers in its way if it wishes to extend beyond a few people that make up the current community. As of today, the process for suggesting what will be paid out consists of a member of the bitcointalk community writing on the forum with an idea for a proposed bounty. Other members may then discuss the idea and an Admin will finally validate the idea into a bounty by posting it on the Devtome bounty page. This process is cumbersome, needlessly complicated and does not allow for a democratically popular vote. If we wish to move Devcoin forward, we need to have people trust that bounties are not being created out self interest but instead to expand public domain and open source material.
I propose creating a website that functions as platform for people to propose bounties and vote for which they want to see move forward.
Bounty Engine
From here forward, I shall refer to the this website as a bounty engine seeing as how it functions an engine of creation.
Model
This idea for a bounty engine is modeled after bountysource.com, a website that helps complete open-source projects by allowing people to propose bounties.
Summary
The Devcoin bounty engine will allow for bounties to be proposed by active users. These proposed bounties will then be voted on by the members of the community. If they pass they are allowed to be funded by members of the community directly as well as shares of Devcoin blocks. If a person is able to complete the project proposed in the bounty the community will then decide whether the project meets the specification original proposed. If so, the bounty is awarded.
Proposing a Bounty
Any active member can propose a bounty (see below in bounty funding for the definition of active member.) A bounty proposal must be no longer than 150 words and written with clear objectives. Once a bounty proposal is created the week long vetting process begins. Under the bounty proposal description is a “pro column” and a “con column”. Members of the community can place comments in either the pro or the con column with their opinions. These comments get voted up or down, so that the most popular comment for and against the creation of this bounty are at the top of the respective columns. At the end of the week the most valuable comments for and against the proposed bounty should be visible at the top of the columns.
Voting
Any active member can vote. Voting is open for a week. For a bounty to pass, it needs a total of half the points equal to the number of active users at the time the voting starts. For example, if there are 100 active users at the time voting begins, you will need 50 points by the end of the week. A “yes vote” is equal to +5 points and a “no vote” is equal to -4 points. Therefore, at least 10% of active users need to participate to get a vote passed. If, for example, there were 100 active users and everyone were to vote, 50 yes and 50 no, the vote would just barely pass will 50 points. Once voting is complete and a proposal has passed it becomes a bounty.
Bounty Funding
Bounties are funded in two ways, community funding and share funding.
Community Funding
Signing up to be an active member requires paying at least 1000 Devcoins for 30 days in advance of it begin spent. In other words, to become an active member you must pay at least 1000 Devcoins every 30 days (or 12000 a year) with that money being spent on bounties throughout the next 30 day period. You can always pay more if you want to fund more projects, but 1000 Devcoins a month is the minimum.
When you put your initial 1000 Devcoins in an active user account you must choose at least one bounty to which you wish to contribute.
Every second 0.00037500 Devcoin is subtracted from your 1000 Devcoins and go into you bounty(s) of your choice. I’ll call this drip system funding. You can choose up to 6 projects you wish to fund simultaneously.
If you choose 1 it is for each bounty: 0.00037500
If you choose 2 it is for each bounty: 0.00018750
If you choose 3 it is for each bounty: 0.00012500
If you choose 4 it is for each bounty: 0.00009375
If you choose 5 it is for each bounty: 0.00007500
If you choose 6 it is for each bounty: 0.00006250
Over a 30 day period this is 972 Devcoins, with 28 Devcoins remaining for transaction fees.
The idea behind drip system funding is that the price of the bounty is incrementally increasing and allows for a more dynamic feel and encourage people to fund bounties as well as complete them.
If dripping is stopped for more than a week, meaning no one giving the bounty any money, the bounty is closed and the coins are spread to all open bounties. (I don’t for see this happening very often since it doesn’t take much to keep a bounty active. It would help bounties from remaining open for years without any activity.)
Share Funding
Beyond community fund, coins can also come from shares paid out by the Devcoin blockchain. A certain amount of funding can be extended to the Devcoin bounty engine much like it is to Devtome and split among open bounties. How this might be funded would take some more careful consideration.
Claiming a bounty
If you feel like you have fulfilled the requirements of the bounties you can submit your bounty claim. Once a bounty claim is submitted, admins verify that the bounty had been completed. (This could eventually also be done by voting or some other democratic method) The bounty is left open for a week after it has been completed to let other people submit bounty claims for second and third place. If for any reason the first bounty claim did not satisfy the bounty specifications, the bounty will be award to the runner up. The payout scheme for bounty claims submitted before the one week deadline are as follows:
1st and only legitimate claim: 100% of bounty
1st legitimate claim with runner up: 75% bounty, runner up: 25%
1st legitimate claim with runner up and third place: 70% bounty, runner up: 20%, third place 10%
Projects that can be funded with this model
The Devcoin bounty engine would not just be limited to open source code, but allow for all sorts of creative projects to be funded. We can imagine a future where a lot of small scale public projects are funded through this format.
Why Devcoin?
It’s value is low enough that it can work mathematically.
It already has an existing bounty system in place that can be utilized to make this bounty engine work.
Conclusion
The preceding plan is just one way that this can all come together. Though many have put together ideas for ways bounties can be created, I hope that by being more specific I can move this discussion to the next stage.
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