I know OG gets 0.5BTC meaning more key holders, more money to pay every month.
I think the current BTC0.5-per-month fee is ridiculously high and having 7 treasurers wouldn't require paying each one a similar fee.Probably BTC0.02 or BTC0.05 for each one would be more than enough.
In my opinion 2-of-3 isn't enough (but still much better than now of course).
Why is a recurring fee even necessary? Don't get me wrong, I wouldn't turn a fee down if someone offered me it but it doesn't seem like it's essential for doing something that requires no effort once it's been set up. Is OG still being paid 0.5 a month? I know many people like to do things in bitcoin around here but this is why paying things fixed in fiat often makes much more sense, especially if it's a long-term arrangement. It's obviously worked out great for OG but not for the forum and could get much worse.
I think the current BTC0.5-per-month fee is ridiculously high and having 7 treasurers wouldn't require paying each one a similar fee.
Probably BTC0.02 or BTC0.05 for each one would be more than enough.
I think it would even be better to peg the fee to the US Dollar rate. From what I can tell... BTC's volatility seem to be back.Probably BTC0.02 or BTC0.05 for each one would be more than enough.
So we better stop compering fiat with Bitcoin :-D
So you're perfectly fine to do long-term deals in fixed in bitcoin? 0.5 a month was probably mere hundreds when it was initially given. Now it's literally thousands.
OgN has shown himself to be able to be trusted with the money -- he has not touched the money, even as its value exceeded $10 million, this is true even if you need to ask probing questions when relying on information provided by him.
Well I think the ultimate confirmation of that would be if/when he sends it back (and not saying he wont). Can't remember the guys name but there was one treasurer who was refusing to send the money back initially because his 'wife' was holding his hard drives to ransom or something because someone had said something "she" didn't like here. Obviously complete bullshit and he was just annoyed but he did return them in the end once he'd calmed down which I'll give him credit for.
If there's going to be a multisig treasurer system, wouldn't it make sense to only pay the treasurers for their services after the funds have been paid back?
Well they could still refuse to send it back if the money was more than they were owed in fees.
If you were to rely on the fact that two "people" are truly separate people, you will have difficulty verifying this information. First you need to verify they are two distinct people, but this is difficult because locations can easily be faked. Next you need to evaluate if the various keyholders have existing business or personal relationships that might conflict with the assumption the keyholders will not collude to steal the money. Two people that run a business venture together are going to be similar to being one person as they are likely to be loyal to eachother, and their financial success not only depends on the others' reputation, but also their financial situations are likely to be similar and will depend on how successful their venture is. The same is true if two people later form a venture after becoming a stakeholder. if two people have frequently traded with eachother, or are otherwise friendly, they may not disclose an (unsuccessful) attempt to collude to steal funds as a "joke" or would not otherwise report such an attempt.
I've suggested previously to look for people who already have a very high reputation amongst the community and have a history of holding and returning large amounts of money in the past (people like Dooglus etc). People who are already multimillionaires and have businesses here with reputations to keep are unlikely to run off with money they've been entrusted with. Alternatively and to rule out any shenanigans, maybe it's better for thyemos to just hold the money himself in maybe a safe deposit box and get some sort of legal contract drawn up in case of his death (or whatever) that the money will then be sent to certain trustees or to certain trustees multisig walllets.
If theymos thought there was a need to change up the way things have been done, i'm sure it would have been done by now. I'll would almost guarantee that he has the home address and real name of OGNasty in case something like theft were to happen.
He's mentioned in the staff forum that it's a concern. Probably just on his huge list of "to-do's" around here but I guess it should be prioritised.
