i personally like to open up the discussion if murraycoin is planning to become a full on charity coin or also a way for merchants to pay with coin?
R ight now 250k murrays are in the pot, however once this is paid out? What will be next?
How do we keep adding to the charity pot? How do we keep investors interested in not only investing but also adding to the charity. How do we stop people from dumping on murray once it does go popular,
and when do u decide to pay out those 250k. What is your target for selling thse coins and how will u sell them? U might have mentioned this before....
First of all, we expect Murraycoin to be like any other coin as far as ways it will be used...with the added focus on charity and, hopefully, the ultimate promotional power of Bill Murray getting on board. We have plans for an online store, fundraisers, auctions, etc but we need to secure Bill Murray's full endorsement in order to really make this coin special.
One way we will continue to raise donations for the charity is through the mining pools. Almost all of the Murraycoin pools are donating a percentage to the fund. (For example, FusionHash has guaranteed a minimum of 0.5% for life.) Beyond that, the sky is the limit. We have had discussions with the Murray Bros. Foundation regarding your same question and it didn't take long to get their wheels spinning as well. One idea I mentioned was that Bill could promise to bring up Murraycoin while on The Late Show With David Letterman, for example, if certain donation milestones are reached before the show. Obviously every time something like this occurred, it would increase Murraycoin exposure and likely directly increase the value - this gives double incentive for people to donate. The most successful fundraisers are the ones where the donators get something back out of it. Another idea one of our team members had was that Bill could create a Vine account (or something along that line) and release a hilarious video mentioning Murraycoin every time we hit certain donation milestones. These milestones could even move around depending on whatever he feels like. Of course we could also sell autographed merchandise at murraycoin.org for Murraycoins which would all go into the charity fund. When you stop to think about it, this could literally be one of the most powerful fundraising tools in history. I'm telling you guys - it's only a matter of time before celebrities and philanthropists in general begin to adopt this technology. It's so easy to send funds to/from anywhere in the world and it's also a great way to attract new people to cryptocurrency. Having a spokesperson people love is key to helping the general public understand crypto and all of the great aspects of it that they've never even heard about - right now, the media is still in the fear/negative stage. The news loves to report negative stories in general because for some reason that's what people prefer. Negative stories bring in ratings and attract more attention - people are drawn to negative stories like a moth to a flame and it's so much easier to reject a new idea than to be open to it. We heard the same garbage about the Internet and Email at one point too - now it's bitcoin. If this all plays out like I think it will, the Murraycoin Project will start knocking down walls and change the world of both cryptocurrency and fundraising forever. Think about it: if Bill Murray popped in on a single episode of The Late Show next week and publicly endorsed Murraycoin, the value would skyrocket overnight - they would probably be looking at over $250,000 worth of Murraycoins in their fund within 48 hours of the appearance. The strategy of making Murraycoin promotion and incentive to donate is powerful because the foundation receives more donations and the following promotion helps raise the value of said donations. This is an unprecedented opportunity for everybody involved. Imagine how many "$500/plate dinners" and "50/50 ticket sales" it would take to raise what this could do in hours - Bill Murray thinks outside the box when it comes to fundraising and that's just one more reason why he's the perfect celebrity to lead the pack on this.
The foundation can do whatever they want with the Murraycoins - if they want to go dump them all on an exchange at some point that's their right to do so. However, based on our conversations thus far, they would prefer to have us assist them on decision-making here. The initial plan was that they would sell the Murraycoins on their own website via paper wallets for ~$1/MRY initially. This way, it would be easy for anybody to go purchase the paper wallets without first needing other currencies to exchange. We will cross that bridge when we get there but, regardless, the coins are theirs and they make all of the decisions regarding their use. On that same note, we can't prevent anybody from dumping their Murraycoins...but who cares? Murraycoin has potential like nothing else before it and there's nothing that indicates a dump would do much damage if we have Bill Murray on board.
At the end of the day, it's all speculation. One step at a time. Yes, the potential is huge. Yes, we are likely making history here. Yes, there will certainly be people that dump at some point. Yes, this is the closest anybody has come to having a celebrity-endorsed cryptocurrency. The bottom line is that without Bill Murray promoting this thing, we will certainly need to restructure the business model and expectations will have to be lowered. While I don't think this is likely, we cannot rule out that possibility. However, we are really confident we will pull this off and, the second we do, the world will begin to realize just how awesome Murraycoin is. It's so much more than a coin.
Hang in there guys - I'm not going to let you down.
