I'd like peoples opinions on bounties. I think most observers of crypto can see that for most coins 5% of people do 90% of the work. Sure, lots of people post supporting messages in the threads, but when it comes to 'doing things', like setting up websites, running give-aways, setting up nodes, contacting exchanges etc it's a matter of rounding up the 5-6 usual suspects and hoping they don't get burnt out and disillusioned before the coin is airborne.
I have followed NXT and Qora closely, as well as many other coins, and it's always the same pattern - a few key people do most of the work, while the majority of stakeholders either do nothing, or offer 'posting support' without actually doing anything.
I'd like to suggest a bounty regime that recognises this pattern in crypto, (and life generally) - in group activities a few key people will do most of the work, and most of the time they don't get rewarded enough, and sometimes they get disillusioned and quit.
I'm proposing we consider distributing Kora in the following way:
50% - distributed equally to ~3000 webapp registration applicants 5% - goes to the registration webapp dev 5% -goes to the dev who clones Qora, and creates the Kora wallet applications 10% - goes to node bot bounties 5% - website & marketing
That's 75% for the 'core' functions, and to establish a community of ~3,000 users.
What I'm proposing is we keep the remaining 25% in trust to be distributed to the '5% of kora stakeholders who'll end up doing 90% of the work'.
We wont know before hand who those people are, but I'd like to think the Kora community as a whole could nominate, and then vote to award 1-2% 'power bounties' to community members who contribute day-in-day-out.
In the NXT community there are about 12 people who do MASSIVE amounts of work for the community, but there aren't any community bounties as such. They have the unclaimed monies & a community fund, but nothing like 25% of all NXT. That would be the equivalent of 250 Million NXT to distribute to guys like damelon, wesley, jl777, CfB, CIYAM etc etc!!
The same pattern is obviously at work in the Qora community now - 3-6 people are doing everything, and all Qora stakeholders can do is hope and pray they have big enough personal stakes to stay motivated long term. In the NXT community some of the biggest contributors have small stakes (hard to believe but true), and that's a long term problem for NXT.
I know it hasn't been done before, but I think it could overcome one of the biggest failure points for many coins - the people who do the most don't get rewarded, so they lose motivation, so momentum is lost, and the coin dies. Maybe that's what happened to Fairbrix (the scrypt coin BEFORE Litecoin that mysteriously died).
I think if Jean-Luc didn't have 50 million NXT from being an original stakeholder, NXT would probably not be doing so well. How lucky for NXT that one of the 8 guys to send a full bitcoin was a super talented Java dev with the ability to drop everything else and work on NXT full time. (if you're looking for a BCNext conspiracy theory, why choose the Qora dev when we've got Jean-Luc - a much better conspiracy theory).
I think having a war chest of 25% of all Kora coins for community voted 'power bounties' would ensure enough committed people have enough motivation to keep pushing Kora forward. We could keep the 25% in an escrow fund with a trusted third party.
What do people think?
I totally agree with you. I think that everyone can do something, the important is to know it BEFORE. I'm not a dev but count me in also for the dirty work ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Solomine - Blimey, actually forgot about that!
Dev, I don't think anyone has accused you of dumping, only the weak hands that got there stake early.
This is such a critical moment for this coin. The actions dev take this day could be very vital.
First of all I'm a Krypt Koin holder and I intend to stay one since I strongly believe in the community and dev. That's why I'm posting this, to clear the air.
If dev doesn't have this wallet issue as very high priority atm and let everyone know what's up quickly it can look very bad.
Some facts: * We are promised reward for sticking to our coins, not selling them for at least 30 days. This is what myself and many (probably most) is doing. So we hold and we have our wallets up and running. * Coin is launched on an exchange extremely quickly, before all stakes have even been distributed. The true motivation of the people publicly pushing for and celebrating this is unknown. We cannot know if one of them is dev himself (not an accusation, just a statement). * We do not know if dev might have registered more than 1 account (again, simply stating this fact). This is NOT a criticism of the distribution system which I think was handled perfectly. This kind of uncertainty is the case of all POS coins as far as I know, due to everyone being anonymous. * We cannot get a full view of anything going on yet since we do not have access to a blockchain (earlier promised to be avalible before any stake were distributed). * There have been a lot of dumping going on so far on the first exchange. Hopefully this is just by weak hands. But we cannot know for sure at this stage. * Synchronization to the network now seem to be suddenly not working for at least several people.
To remove any suspicion dev must act quick now. There must be a blockchain available and there must be a wallet fix so people can actually mint properly and sync to the network again. We need to set up some kind of wiki also. To actually get up some kind of documentation, for example how exactly is the POS supposed to be calculated and so forth.
Again, I do believe in this coin and have so far only bought more. Also like I said, I believe in the dev, otherwise I would not have invested extra money into it. So I do hope you take what I wrote here the right way.
I quoted this comment but I didn't read it like an accusation. Only one way to know each other better. From my side, I m sorry for the misunderstanding. I believe in this coin and dev is pretty active and kindly. Note: I think that we could keep voting in Mintpal. Here there is no risk to be added so soon ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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please add KryptKoin ., its a 100% PoS and 100% FREE , mostly the distrubtion is fair than other coin. the community is strong and most of us dont want to dump any coin and need more time to grow. if you have time , please read https://bitcointalk.org/index.php?topic=606809.0. thanks. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi1287.photobucket.com%2Falbums%2Fa627%2Fqinjuning1%2F4E0B8F7D_zps46a09b5d.png&t=665&c=MYn0_gflaD3tTQ) the Green can bring hope . +1 Excellent coin, community and dev. + 1000 very nice coin ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Of course!
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Wallet out of sync. Last received block(s) was generated 3 hour(s) ago.
This is such a critical moment for this coin. The actions dev take this day could be very vital. First of all I'm a Krypt Koin holder and I intend to stay one since I strongly believe in the community and dev. That's why I'm posting this, to clear the air. If dev doesn't have this wallet issue as very high priority atm and let everyone know what's up quickly it can look very bad. Some facts: * We are promised reward for sticking to our coins, not selling them for at least 30 days. This is what myself and many (probably most) is doing. So we hold and we have our wallets up and running. * Coin is launched on an exchange extremely quickly, before all stakes have even been distributed. The true motivation of the people publicly pushing for and celebrating this is unknown. We cannot know if one of them is dev himself (not an accusation, just a statement). * We do not know if dev might have registered more than 1 account (again, simply stating this fact). This is NOT a criticism of the distribution system which I think was handled perfectly. This kind of uncertainty is the case of all POS coins as far as I know, due to everyone being anonymous. * We cannot get a full view of anything going on yet since we do not have access to a blockchain (earlier promised to be avalible before any stake were distributed). * There have been a lot of dumping going on so far on the first exchange. Hopefully this is just by weak hands. But we cannot know for sure at this stage. * Synchronization to the network now seem to be suddenly not working for at least several people. To remove any suspicion dev must act quick now. There must be a blockchain available and there must be a wallet fix so people can actually mint properly and sync to the network again. We need to set up some kind of wiki also. To actually get up some kind of documentation, for example how exactly is the POS supposed to be calculated and so forth. Again, I do believe in this coin and have so far only bought more. Also like I said, I believe in the dev, otherwise I would not have invested extra money into it. So I do hope you take what I wrote here the right way. + 2
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KTK DAYLY REPORT MAY, 29 WHERE CAN I BUY? Waiting for Block explorer To solve Wallet POS mint problem
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My Swedish informational website is now up and running. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) Check it out at: http://www.kryptkoin-swe.comWill add link to block explorer as soon as it's up. Could be added to the daily report, testadimerlo. Sorry, I missed it before. Now it's ok, updated up. Thanks
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KTK DAYLY REPORT MAY, 29 WHERE CAN I BUY? Waiting for Block explorer To solve Wallet POS mint problem
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please add KryptKoin ., its a 100% PoS and 100% FREE , mostly the distrubtion is fair than other coin. the community is strong and most of us dont want to dump any coin and need more time to grow. if you have time , please read https://bitcointalk.org/index.php?topic=606809.0. thanks. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi1287.photobucket.com%2Falbums%2Fa627%2Fqinjuning1%2F4E0B8F7D_zps46a09b5d.png&t=665&c=MYn0_gflaD3tTQ) the Green can bring hope . Absolutely ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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KTK DAYLY REPORT MAY, 29 Waiting for Block explorer To solve Wallet POS mint problem
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KRYPTCOIN REPORT 28 May 2014 - Distribution first list - Complete - Distribution second list-Almost complete - Wallet updated Bounties & Development Fund list open - Added to sharexcoin - Added to Bluetrade Waiting for Block explorer
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Bounties & Development Fund
Bounties and Development relies on donations, so please consider donating a small amount of your stake to support KryptKoin.
KTK address: KF9q58HyXFSgDyA2JagQHra1f7UHV49aaF
Current donation list:
KryptKoin - 1000 (not sent yet)
Donated 1k KTK for development. Donated my 1K for development Status: 0/unconfirmed, broadcast through 25 node(s) Date: 28/05/2014 21:46 To: KF9q58HyXFSgDyA2JagQHra1f7UHV49aaF Debit: -1000.00 KTK Transaction fee: -0.01 KTK Net amount: -1000.01 KTK Transaction ID: ff108941ddcef2a36416a81f18ca872d53246f30bc1a4d1790ecd42eca6d305b
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KRYPTCOIN REPORT 28 May 2014 - Distribution first list - Complete - Distribution second list-Almost complete - Wallet updated Bounties & Development Fund list open - Added to sharexcoin - Added to Bluetrade Waiting for Block explorer
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KRYPTCOIN REPORT 28 May 2014 - Distribution first list - Complete - Distribution second list-Almost complete - Wallet updated Bounties & Development Fund list open - Added to sharexcoin Waiting for Block explorer
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KRYPTCOIN REPORT 28 May 2014 - Distribution first list - Complete - Distribution second list-Almost complete - Wallet updated Bounties & Development Fund list open - Added to sharexcoin If I miss something please quote this post and I'll add. I'll try to keep this report as much as I can. Please, if someone can handle the bounties & developement list. Count me for 1000 Krypt
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KRYPTCOIN REPORT 28 May 2014 - Distribution first list - Complete - Distribution second list-Almost complete - Wallet updated Bounties & Development Fund list open - Added to sharexcoin Waiting for Block explorer
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I like the original logo. I would keep it as it is now. This one you proposed looks similar to many recent coins. +1 Lets not start with a logo change, the other one looks good. To many coins swapping logos and wasting time on pointless crap! +1. This background color is too dark to give people a good impression and common, the original logo is better. if you have any promotion to do ( X11 , etc ) , we can donation KTK or BTC . I have to agree. This logo is nice but everithing we do, EVERYTHING, should be related to the acceptence of the people. The NAME and the LOGO are already half destiny of the coin. I m still waiting to know dev's plans. We can achieve good goals!!
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Good luck everyone who got their shares. I'm too late to visit the thread. Krypt may attract good trades when it hits exchanges. With number of coins and POS future, the stake holders don't fall for poor buy orders. I took some time to read the thread and find out, the dev took a lot of time to carefully select stake holders. The price is now entirely depends how the stake holders trade when Krypt is listed on exchanges.
Compare similarly featured coins trade values before selling Krypts. As far as I know about Free distributed coins, none of the coins have got good value. For example, COMM, SHARE, etc., First and last, the stake holders hold the key for the proper value of every coin.
To the dev, You have worked hard to bring Krypt to live. Why don't you continue your effort and make Krypt the first x11 or x13 100% POS free coin? My kind suggestion. If you can achieve, the price won't fall below 0.001.
Thanks for reading.
the first free x11 or x13 sounds good. And I also hope for something more ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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why Target is 23 seconds, not 60? Sorry for bad English
Target time is decreasing to keep block generation speed constant with growing number of miners. I need at least one hour to finish a level... maybe more... ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Miners hare heros here ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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when will this coin launch?
I'm confident people will be trading Kora tokens on the NXT AE within 6 weeks. Between now and then there's a lot of things we can do. I've been thinking of other successful coin communities I am aware of, and I'm trying to distil what makes those coins & their communities successful. What made Tenebrix & Fairbrix fail, and Litecoin succeed? Remember, Litecoin came AFTER Tenebrix & Fairbrix, so sometimes the first mover isn't the one to survive and thrive, and it's not just about the tech either (Litecoin & Tenebrix/Fairbrix were all scrypt based)! What gave Litecoin the X-factor? Obviously a major part of the answer comes from understanding the 'community' - the people involved with the coin - what they were doing, and how they were motivated. I want to learn the lessons from all previous coins so we can make Kora successful, like Litecoin. Some argue that people will not value something that they receive for free, and that's why recent 100% POS coins that have been given away free (Coffeecoin, ShareCoin, EnergyCoin, CommunityCoin, InformationCoin etc etc) will all struggle to survive as the stakeholders (and the dev) don't care enough to do what is necessary to survive in a competitive market. I want to explore these issues. Will a Qora stakeholder who paid for their stake be more active than a Kora stakeholder who got theirs free? Will Kora find 'leaders' to guide Kora in the future if everyone has an equal stake? One idea I'm toying with is holding an amount of Kora in trust (maybe 25%) for bounty rewards that the community votes on periodically. I've observed a few communites, and I see that most of the time the majority of tasks are performed by a small number of people. If we have a bounty fund, the community could vote to reward these big contributors. It's just an idea! Please feel free to make comments and suggestions, and help shape Kora ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I wanna say my opinion about the distribution's issue that you are mentioning. Yeh, free distribution includes the risk that many people go to dump very quickly, but let's see also the rest. Most cryptos are are linguistically doomed from the outset. They don't have a chance in hell of ever being anything other than a shit coin: smurfscoin, for example. What should you do with a coin with this name??? Do you wanna hold it? Energy coin: ok, let's save energy but what does it mean? You give a name to the coin and after, what? Why this coin is so named? Most cryptos are doomed just because dev give name without reason. Is so difficult to understand that the name of the coin is his unique and important project? Name is the destiny but no one understand this simple concept Coffee coin: good name, dev is still active and they are trying to make project. But imao you cannot go in the exchanges with an OP which language is half english, half chinese and half I don't know what. Because people don't believe in you and that's it. Community coin: ah, when I think about that I m still sad. Good name but very confused distribution and, as before, also here no one project followed the name. Ok, this is the coin of the community... but what does it mean??? Information coin has been just a " revenge" of those that didn't get the community coin stake. Information coin: what does it mean? Again, people give name and don't want spend neither two minutes tninking in something useful. Just make quickly money - but they do? Bah Sharecoin was surely the best. Fair distribution and the coin rised till 600 sat. Sharecoin didn't died for being free but only because the dev is interested only in the exchange Sharexcoin and not in the coin itself, that was just an instrument ( but he never asked to someone to invest, the coins were free and so I cannot say a bad word about them) Now I will hold krypt coin. Till now dev has been fantastic, fair and did a hard job. The name of the coin seems to be related to the enkrypted message, so it seems that there is a project behind. We ll see. Surely a lot of people will dump, but if there is a project, in my view the coin can succeed also if there is a free distribution - look at next So, don't make confusion between the free distribution and the total incompetence and no professional devs that are around here My two pence
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