Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 600. (Read 804702 times)

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Why not set different percentage for devs that depends on amount of IPO. For example, if ipo collects 100 btc devs get 15%, if 200 10%, if 300 5%. And another question, I think would be better to give more earlier investor. Start with 60-90% and decrease 2-3% every day. That would be really great.  

why?

Nowhere, we didn't post russian thread yet. Maybe little later will be posted.

Thanks for the interest. We will be announcing availability of beta units for developers here on Bitcointalk pretty soon, currently testing two different quad core boards.

where i can find russian thread?

i would be interested in such a solution. please keep me or the "community" up to date with this development.

I am also on the development team and will be available to answer questions and respond to suggestions as they come in.

In reference to long term commitment, I am indeed a long term investor specializing in next generation crypto assets. Ignoring the post-sale bubbles when pre-sale assets start trading, I have sold very little of what I have invested in. These projects require several years to fully develop and reach their true potential value. I have no intention of selling any of my stake in Crypti for a very long time.

Also, in a related project, part of the Crypti team is developing a quad core ARM based Linux box for secure storage and mining of Proof-of-Stake type coins. The box is designed for always-on use with low power consumption. It uses a network interface so it can be accessed by desktop or mobile device. We have Peercoin, Litecoin, and Bitcoin running, and are adding NXT. Skycoin is also running on the unit, as it will become the CPU unit for mesh networking nodes running the Skywire protocol.

Crypti will be loaded onto the ARM based unit as well, making it a turnkey Point-of-Sale system which is easy for merchants to set up.

Neo.op, thanks for sticking with us and having this conversation. Your comments and concerns have been heard and are appreciated. We want a vocal community and we want to work WITH that community, not against it.

As per your question about the start-up environment, it really depends on the company. That is why, typically, start-ups pay employees with equity in the company. This is what we are trying to accomplish with the 15% fund. I personally think any member of the development team would be stupid to try and cash in their stake at launch. From what I know of our team, the majority of us are long term investors and will hold for the foreseeable future.

We had previously discussed some form of vesting within our group but had tabled it for the time being. Now that it has been mentioned a couple times by community members, we are re-opening the idea of implementing some form of vesting, possibly using some type of Escrow to release funds based on time frames or completion of stretch goals. I am not making any promises on this front as it is still under discussion, but it is one of the many things we are reviewing.

As per one of my other posts this morning, we are also still reviewing the options for the 10% fund. You can see there where I mentioned some of the possible solutions we are throwing around. I would be interested to hear which one you would be most in favor of as well.

Hey Steady712! While it is just words, they are true words. We have a discussion in our developer board right now where we have several ideas being thrown around.

We are considering keeping the distribution how it is now, lowering the development percentage to 5%, dropping it completely in favor of possibly charging dues to members of the Foundation to help spur on development, and any other proposals we have seen or thought up. We had 2 or 3 new posts about it this morning when I woke up that I have yet to respond to.

To give you an idea, we have 3 separate boards in our Redbooth dedicated to discussing this issue in different manners with upwards of 60 posts on the matter.

Can I pose a question to you? Of the distribution models I mentioned we are discussing, which one would you be most in favor of? Do you have any additional ideas that you think we should consider?

Hey Prix, thanks for commenting! Let me try to respond and ease your concerns a little on some of these points.

1. Our team is actually fairly well distributed. Several of the programmers and the Creator, Boris, are from Russia. The creative design, engineering, community outreach, and several other aspects are being done by team members form America and Israel. So we tried to be considerate of everyone.

2. Let me be frank here. When we discuss salary, there are 2 reasons for this.

Reason #1 is because some members of any project will be hired for specific roles. For instance, you may hire someone who does interface design to come in and design a GUI for your web wallet. They will be paid a set salary. This person may not be added to the actual core team, but just hired for that one project.

Reason #2 is because several members of the community have posed direct questions about how the distribution will work for the launch, and so I felt it was important to clearly state the numbers. This wasn't because we are focused on the salary, as much as it was a function of trying to farther explain the distribution in realistic terms.

I assure you that Myself, Stas, Mike, Boris, and many of the others on the initial creative team behind Crypti are going to be providing major contributions and running the Foundation alongside the community for the long term. As I mentioned in a previous post, we intend to hopefully release a set of stretch goals to show what we plan to work on post launch.

While I can't guarantee all 9 current developers will stay with the project post-launch, as that is their decision, I believe we have a really strong core group that truly believes in Crypti. I can speak for myself when I say that I have put countless hours into helping design the core features of Crypti and I take a lot of pride in what we are accomplishing here. I know the majority of us feel the same way.

As per your comment about the developers having a stake, that is exactly how it is currently designed. We are all in this together and I plan to be right beside those of you who join the Foundation, trying to give Crypti the best possible future that we can. But, you don't just have to take my word for it. Our actions will show our dedication. Just stick with us Prix!

We are discussing the possibilities. We have ideas here but we also don't want to tie our hands too much as we might need to bring in or hire additional programmers to get all of our ideas accomplished.

We are also discussing putting together some "stretch goals", to use a kickstarter term, to show the community where we plan to take the coin as far as future development is concerned. These types of things will probably be a part of the launch of the official documentation and site for the Crypti Foundation that will be responsible for development as we move forward.

We are discussing some form of vesting to keep developers committed to the long terms, and in case we reach one, we will announce it towards the pre-sale start.

I am still looking at this and thinking about investing, I have no problem with the Devs getting paid, but could the payments be staggered to keep the Devs interest.

I would even go with a bigger % to the Devs.

I have been burnt MANY MANY times in the past, where after the coin is released the Devs have lost interest or motivation to innovate.

If you can cover and calm my concern with the above you can count me in.

Thanks in advance.

1. You then specify the approximate salary - these salaries are too high for Russia (even for Moscow), where, I believe, the main part of your team.
However, it's not important, I don't mind.
2. Pointing salary you give to understand that people work for money, not for the idea, they are not enthusiasts, they are not interested in the success, they just hired workers. I like another scheme - the developers have a stake and make every effort for the success of the coins to the share increased in monetary terms several times. I hope I'm clear outlined my thoughts.
Maybe I'm wrong, it's just my impression.
In principle, no difference of 10% or 25% you currently take. If developers do not have the desire to develop your product (I do not mean you, I don't know nothing about you and your team) there is already the size of the share will not matter.

As a result: no difference 10% or 25%, talk about salaries saddens me.

These are just words. Most of us are dissatisfied with the distribution method but is unlikely you change "the plan". Many greedy people ...

Grexx thanks for the correction, the valuations were way off . Though there is another thing to ponder (though again you can agree to disagree). Should a developer working in an entrepreneurial venture, specially in a start-up structure with no identifiable business revenue expect a full time employee salary?
Though I still sincerely hope crypti can do away with the 10% dev fund.

Actually, I take that back, these numbers are wrong due to you using 7,500,000 for the calculation instead of 75,000,000, which will be the actual distro to pre-sale investors. 

It should look like this:

A. 23 / 75,000,000 = 0.000000307 BTC ~ 0.00018 (Worst case scenario), (Total Market Cap: $18,000)
B. 143 / 75,000,000 = 0.000001907 BTC ~ 0.0011 (Average scenario), (Total Market Cap: $110,000)
C. 250 / 75,000,000 = 0.0000033 BTC ~ 0.00198 (Best case scenario), (Total Market Cap: $198,000)

Let's break down the distribution in these scenarios to determine how much funding would be.

75,000,000 Pre-Sale Value

A. 75,000,000 x $0.00018 = $13,500
B. 75,000,000 x $0.0011 = $82,500
C. 75,000,000 x $0.00198 = $148,500

10% Future Development Fund

A. 10,000,000 x $0.00018 = $1,800
B. 10,000,000 x $0.0011 = $11,000
C. 10,000,000 x $0.00198 = $19,800

15% Salary to Developers

A. 15,000,000 x $0.00018 = $2,700
B. 15,000,000 x $0.0011 = $16,500
C. 15,000,000 x $0.00198 = $29,700

Now this would be assuming we gain no value after the initial pre-sale, which would be counter to proven examples. We have seen an increase of anywhere from .8x to 40x (NXT) the initial pre-sale valuation. 2x-4x seems realistic for more recent launches in which case I would draw possible similarities and assume we might see a similar evaluation.

In order to see the numbers you mentioned previously, to reach that $0.01 valuation, we would have to see an initial amount raised of the 143+ mark and a 10x increase in valuation post-launch, or we would have to raise 1500 BTC in the pre-sale (in which case I think we would throw all investors a giant mega party!).

I'm not saying this is impossible, as it could very well happen if interest is high, just clarifying the numbers.

Even having said all of that, we are still taking all suggestions under consideration and trying to determine if we should adjust the launch distribution.

I'll look at this!