Sounds like your wife is a net drag on investors profits. I would hire everything out if I were you because you cannot use your wife as an excuse for charging insane rates.
That is a great idea - I've thought about doing some bounties, and it is likely that there will be some. Bounties have their own set of problems though, since somebody might work many hours and not get paid because somebody else collected first. Or, you have to offer the bounty to just once person who might not do a good job. Still, I would LOVE to use the Exodus Address funds to pay somebody else to work on this! Group bounties? Appoint a bounty leader, have them distribute accordingly to whoever they work with? This would have to be reputation based I imagine. Sounds like your wife is a net drag on investors profits. I would hire everything out if I were you because you cannot use your wife as an excuse for charging insane rates.
Yeah, the optimal thing for the project's success would be for Willet to divorce his wife, because he would have much more free time and less liabilities. Luckily (or unluckily, depending on your perspective), he has other priorities except MasterCoin, including (gasp), his wife's happiness. the guy still has kids! |
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Sounds like your wife is a net drag on investors profits. I would hire everything out if I were you because you cannot use your wife as an excuse for charging insane rates.
agreed, though I understand the trickiness of the situation. As the 'Eight of Eights', the power card of power cards, the Eight of Spades has the heaviest burden and obligation to use his or her power for good. All of them are tempted to take this power and use it to escape from their fears and avoid facing themselves from time to time. They are here to work and make a contribution and ultimately this must take priority above their romantic life. These are the workers and the workaholics of the deck. Their power is expressed through action and the force of their indomitable will. |
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So even if it is a hoax, how many people will believe it anyways? Could the hoax still bump the price up?
People still think btc is illegal in thailand. Hence why a press release stating, "BITCOIN TO RISE TO $1,000,000" needs to be published.  I guess that does not sound believable enough though. Believable enough to me :p In the mean time, work on getting your small business owning friends and family to accept bitcoin.... bitpay/coinbase makes it super easy without the currency exchange rate risk. |
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The problem is that until demonstrated otherwise, remaining funds = original funds - funds paid to yourself. So in this case you still keep all of your funds and some of other people's funds.
Specifying in advance what is the salary you intend to receive for full-time employment in this (which AFAIK you have not yet done) will be helpful.
I don't plan to take a salary at all, given the funds currently raised. How much money I withdraw for work on this project will be a negotiation I have with my wife in order to secure time that would normally be devoted to giving her a break from the kids and household chores or taking her on vacation!I think it likely that the price per hour will have to be on the order of "overtime pay" in comparison to my current day job in order to secure her approval. I don't want to make any promises, but I doubt I will burn through even half of funds contributed to date in order to get to feature complete. Again, I haven't actually done this negotiation with her yet, and forecasting how long software projects will take is notoriously tricky! That's what I figured as well. Perhaps she should look at it like a long-term investment as well, just in terms of your time and her time with you. She would stand to gain from seeing the success of this through, no? The "overtime pay" concept, while I understand it, is tricky to me for that reason. |
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one word: overpaid
with your narrow vision maybe. LOL If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years. thats not the point the point is fair price $200M set aside for a 10+ year grand scheme that might not have fiat returns and progressive fiat expenses for awhile isn't unreasonable. |
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Hate to say "I told you so" but...oh no wait...I don't hate it at all. It's incredible the level of faith you people have in old media. Even now, you people are posting here with notions like "Oh, but this is the media. They would never just publish on rumour right? There has to be something more to this!" Unfortunately, when you want to be the first to press, you will publish on rumour and yes, journalists do this a lot more often than the public realizes.
People who posted that someone would lose their job over this and that the story must have been true because no one would risk their job like that...also getting it wrong. There may be a meeting and someone may be scolded but this isn't like reporting the wrong sex of the royal baby; this is a story on bitcoin rumours. A story with niche appeal. In other words, no biggy. Unfortunate, undesired and unprofessional sure but also unsubstantial in its effect on general credibility.
Seriously, why the hell do some of you think the mainstream media prints gospel? If it's "because they're the established media" then you should give your head a shake and think a little more critically.
I just had some faith in journalistic integrity, especially for someone that graduated from the University of Edinburgh in journalism. It's okay though, my heuristics have adjusted accordingly. |
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How do you see MSC playing out upon release? As in, what are scenarios for distribution and success?
Also, does it matter how many initial buyers/MSC holders that you have in terms of distribution? Would more hands at the beginning help its success?
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what do you think is the fairest way for you to use the funds that will be available to use provided by 1exodus?
I plan to use the Exodus Address funds like a "MasterCoin Foundation". They will be spent to further the interests of everyone who purchased MasterCoins. For instance, I hope to buy a laptop suitable for development work on MasterCoin, which I will probably use those funds for. Also, my wife probably won't give up my time on weekends or sacrifice our vacation days unless I can show her U.S. Dollars in our bank account as a result. Sadly, she does not trust bitcoins one whit  Perhaps when the time comes you could have a messaging thread between those that have risked their money in 1exodus so that discussion of your usage of the funds can be facilitated. Transparency and all that. |
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^ It makes business sense even if isn't true. And that should be enough.
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It appears that my method of funding this project is still quite contentious. I want to address a couple of those issues further: - Some of you seem to think that my own money is not at risk if this project fails. That is not true. If this project fails (probably because somebody else does something similar, but does it better and/or faster), I would return any remaining funds to investors. I would get a partial refund just like everyone else.
- I modeled this fundraiser like a kick-starter, but investors are motivated similarly to angel investors (venture capitalists investing in early stage companies). The risk they are taking is very high, but the potential reward is very high as well.
- The risk I am NOT taking is the risk that this is all just a scam. I don't think there is anything I can do about that imbalance, other than just making it really clear this is not a scam.
I hope I haven't given anyone the impression that they shouldn't criticize my fundraising method. I merely wished to say that if someone else has a better way to do it, they should go for it! what do you think is the fairest way for you to use the funds that will be available to use provided by 1exodus? |
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one word: overpaid
with your narrow vision maybe. LOL If I had billions, with that clout I would choose to do so many things, one of which would be to do what this article theorized. $200M could be multiplied rather quickly if invested in various avenues provided by Bitcoin. ROI would be in the time frame of a few years. |
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In light of that, I do agree that it is very unlikely now, and more importantly, any faith in the press (and high academia for that matter) i had left is now kaput.
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Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously. |
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Either way, false or not, this should bring very interesting discussion to the table for monied people as to what is possible. There is a very serious first-mover advantage for the first big group investing in bitcoin that takes it seriously.
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This really does make me think about the Paypal rumour though...
I do think it's more likely true than not, and that was on day 0 of the rumor when I first heard about it. It'd make so much sense. Old Paypal founders already invested $2m into Bitpay. The Paypal CEO (or president?) already said he was looking into Bitcoin. The reddit post was removed pretty quickly (possible company letter threat? I don't know why a troll would remove a troll post if they didn't work at Paypal). It'd be easy for them to do so—they have the infrastructure needed to bring bitcoin into the mainstream. Why the hell not? Makes perfectly good business sense! Especially if Bitcoin has the potential to ruin their business model if they didn't adopt it! 'Sides, they already work between dozens of currencies, what's bitcoin to 'em? Yeah me too, plus trolls have a certain "feel" to them and TheInsiderMan just didn't have it. Damn I don't even want to go to sleep right now, I want to watch New York wake up... They're going to be unhappy when they have to get used to the fact that Bitcoin doesn't simply operate from 930-4  |
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the amount of ignorance i have run into recently is astounding. it's almost like i'm back on GameFAQs
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This really does make me think about the Paypal rumour though...
I do think it's more likely true than not, and that was on day 0 of the rumor when I first heard about it. It'd make so much sense. Old Paypal founders already invested $2m into Bitpay. The Paypal CEO (or president?) already said he was looking into Bitcoin. The reddit post was removed pretty quickly (possible company letter threat? I don't know why a troll would remove a troll post if they didn't work at Paypal). It'd be easy for them to do so—they have the infrastructure needed to bring bitcoin into the mainstream. Why the hell not? Makes perfectly good business sense! Especially if Bitcoin has the potential to ruin their business model if they didn't adopt it! 'Sides, they already work between dozens of currencies, what's bitcoin to 'em? |
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