talking about how the devs are losing their motivation, that they dont feel like putting in the extra effort like they used to
PLEASE just give a detailed breakdown of [what] they need, LIKE A REGULAR COMPANY
Before we all started chasing BCX and TFM's shiny new objects, discussion was underway about reaching funding goals.
Since we have some time to kill before the moment of truth, let's get back to that.
A 1% devtax on mined blocks (excluding tx fees) would provide devs with motivation for putting in continuing/extra effort.
In addition to previously listed items, we should consider keeping funds in reserve to pay for bug bounties and network defense (IE VPS rentals to host known good nodes while under attack).
I proposed a "retroactive pre-mine" in the form of a Bootstrap Block containing 1% of all XMR, which is 184,000 coins.
The 184k XMR/$300k it provides seems sufficient to fund the following to at least alpha testing:
$100k - refactor codebase
$50k - security audits
$50k - integrate DB
$25k - complete I2P
$25k - Official Wallet
$15k - bug bounties
$15k - p2pool
$15k - trustless web wallet
$5k - network defense fundAre these numbers too high, low, or just about right?
I'll share some of my personal thoughts. The core team has not really addressed this as a group.
DB seems a bit high if it doesn't include work already done (although some of that has been paid for out-of-pocket by the core team and should ultimately be repaid out of the dev budget).
p2pool seems low especially given ongoing development. (This is not a modification of the existing p2pool, which is largely unmaintainable, but a new solution based on some of the same concepts.)
$5K "network defense fund" might well be small if the attackers are better funded than that or multiple attacks occur, both of which are entirely plausible.
Other needs will undoubtedly appear, beyond a low level of ongoing maintenance that can be paid out of 1% of block rewards, at least at current prices.
In genreal I would suggest that if we are going to do this, that we just go ahead and make the "post-sale" bigger, provide for a larger fund that can be used on a more ongoing basis to hire expert developers and generally ensure that the project is adequately funded going forward. As a benchmark, how much funding did VIA raise? Funds that turn out not to be needed can be returned to the community in some manner tbd.
MEW is also working on a funding model based on memership fees and dev donations, so that should be factored into it. MEW is being launched Tuesday, according to the recent post, so more information should be available then.
Of course with more funds in an account intended for longer-term use there is more responsibility to ensure it isn't wasted or stolen so issues like oversight (as we previously discussed a bit) come to the fore.
Thanks for keeping going with this, and especially not being too distracted by attempts to distract us.