Non-IPO project funding?

[coinsolidation]

I'll get back to you later, I've got some things to do.  

No rush, you aren't required to reply again Thank you so much for your input so far.

Yeah it seems like we may agree to disagree on that point (PoW/ASICs.) I could go into further detail, but it's probably nothing that you don't already know.

I'm interested to hear what you'd propose yourself. If you had to pick a proof and algo what would they be?

edit: reasoning, compromise to achieve the end goal is the aim, I believe we both want to achieve the same end goal, thus interested to hear viable alternatives.

[CoinHoarder]

I'll get back to you later, I've got some things to do.  

No rush, you aren't required to reply again Thank you so much for your input so far.

Yeah it seems like we may agree to disagree on that point (PoW/ASICs.) I could go into further detail, but it's probably nothing that you don't already know.

I'm interested to hear what you'd propose yourself. If you had to pick a proof and algo what would they be?

edit: reasoning, compromise to achieve the end goal is the aim, I believe we both want to achieve the same end goal, thus interested to hear viable alternatives.

I am biased obviously, but I like purely PoS coins that are fairly distributed as I had mentioned earlier.

I went a little further in depth and started a thread about it if you would like to read more: https://bitcointalk.org/index.php?topic=675333.msg7647833#msg7647833

Mostly the only grudge people have versus Nxt is that it was "unfairly" distributed. I think solving that issue would make it more popular.

[coinsolidation]

I'm running the Bitmark project, which should serve to benefit the crypto currency sector.

After taking feedback from the community I've worked out a fair long term development fund.

The project is currently in need of urgent (minor, one off) funding in order to keep momentum and pay for some resourses. I've already put out details and an alternative proposal to IPO funding.

Do any of you have alternative approaches that may be viable?

Is anybody willing to take a small punt on a legitimate project?

Thank you for any advice.

Clarifications

I must be honest in what I will have at my disposal:

• a) A development fund of the currency from the 0.250% block tax
• b) An amount of personal coins which I will be legitimately mining myself
• c) I'm a working man with an income which varies from month to month, some months it has more disposable income than others

I've calculated the cost of all resources needed to be about 0.6 BTC.

In return I could offer a portion of A for an agreed time.
Also, If required a percentage of B for an agreed time.
In the worst case, should the project have zero value I could recompense from my personal income.

A+B have an unknown value, which we must assume to be zero, but that we hope to be higher.

Perhaps part of the problem is that this is not a pump and dump with "10000% gains tomorrow!", it's a long term development project who's value will be earned rather than presupposed.

If it helps any, part of the project entails making a clone-able reference implementation available to the public so that we can have clones which at least use a stable new codebase, hopefully that alone has some value.

----

I could suggest a get out clause where if the bitmark supplied hasn't reached a valuation exceeding the investment by an agreed date and the donator feels uncomfortable holding them longer, I personally guarantee to pay back USD amount investment + xx% as a minimum return on that date, in return for the bitmarks back.

---

Give credits to donators somewhere in the client (in the about screen showing current version etcetra) and on the website.

Special thanks to CoinHoarder for his valuable contributions to the discussion

The bitmark project is progressing well, with the first reference implementation technically complete.

The quoted issue is urgently needs addressed. Can anybody offer any further insight, or help?

[CoinHoarder]

Create a service such as this for your new crypto currency, and set the fee to where it goes straight to the development fund: http://www.vericoin.info/veribit.html

[deepcoreotc]

I have read many of your post.  It seems that you have seriously put great thought into creating an actual currency.  The meaning of currency that I use here is as follows: A unit of account. A medium of exchange. For which the intended use of said currency is to facilitate the exchange of good(s) and/or service(s) on a day to day basis by people in a community, on a peer to peer, local and/or global level. 

There are many other examples in post that you have submitted that will support my statement that you get what a currency's functions are.  Yet this analysis is beyond the scope of this thread, and so I will be commenting on other of your post shortly.   

I will be contributing funds on your project.  I have one request.  Would you produce an itemized cost statement for the following:

Request for Funding
The total cost of resources for the first 3 months is 0.636 BTC, this covers:

    3 months of dedicated server for the project.
    Domain name
    2 base templates, a public facing informational template, and an "administration" style template similar to blackcoinpool.com/dashboard
    A small budget for leasedrigs to use on the testnet and to check block time generation as hashspeed changes rapidly, multipool diff drop mitigation


Thanks much , and I look forward in assisting in making this idea/project become a success over time.

Jay

[coinsolidation]

I have read many of your post.  It seems that you have seriously put great thought into creating an actual currency.  The meaning of currency that I use here is as follows: A unit of account. A medium of exchange. For which the intended use of said currency is to facilitate the exchange of good(s) and/or service(s) on a day to day basis by people in a community, on a peer to peer, local and/or global level.  

There are many other examples in post that you have submitted that will support my statement that you get what a currency's functions are.  Yet this analysis is beyond the scope of this thread, and so I will be commenting on other of your post shortly.  

I will be contributing funds on your project.  I have one request.  Would you produce an itemized cost statement for the following:

Request for Funding
The total cost of resources for the first 3 months is 0.636 BTC, this covers:

    3 months of dedicated server for the project.
    Domain name
    2 base templates, a public facing informational template, and an "administration" style template similar to blackcoinpool.com/dashboard
    A small budget for leasedrigs to use on the testnet and to check block time generation as hashspeed changes rapidly, multipool diff drop mitigation


Thanks much , and I look forward in assisting in making this idea/project become a success over time.

Jay

Thank you Jay

• Dedicated Server (i7/32gb + NAS storage): $80.15 x 3 totalling $240.45
• Themes x2 (user website, stats like blockchain.info): $45
• Domain Name: ~$11

Total expenditure is ~$300, or roughly 0.5 BTC accounting for fluctuation when converting to fiat and any minor fees incurred.

The remaining 0.1 to 0.15 BTC will be used to fund leased rigs for the test chain whilst developing Bitmark. Any rig budget remaining when Bitmark is launched would be used to mine on the main network, and create a dividend to be split between the developer fund and anybody who invested.

Today I have made the pre-release of bitmark/pfennig available (details here) for testing, perhaps you would like to take a look.

Please do let me know if you have any further questions, or any particular terms to the agreement.

dedicated server usage: publicly it will be used to host the website, a long term stable node, and the first dns seeder. Privately it will be used to cross compile initial releases, to test against pool software, and to build supporting tooling for Bitmark similar to blockchain.info, hence the higher specification of machine and not a generic VPS.

It will be a good day when the first Jerky is paid for with Bitmark!

update: 0.2 BTC donation received, only need 0.4 more

[coinsolidation]

A total of 0.4 BTC has now been donated. We now only need 0.2 BTC to reach our goal

[tobeaj2mer01]

A total of 0.4 BTC has now been donated. We now only need 0.2 BTC to reach our goal

If you raise an IPO, you can collect a lot of BTC

[coinsolidation]

A total of 0.4 BTC has now been donated. We now only need 0.2 BTC to reach our goal

If you raise an IPO, you can collect a lot of BTC

Please see this post for details on why we will be avoiding an IPO, as tempting as it is.

[coinsolidation]

A new proposal, we'll call it a reverse IPO for now https://bitcointalk.org/index.php?topic=660544.msg7764943#msg7764943

[DarkhorseofNxt]

Like evildave said, you can always use Nxt Ae to raise funds regardless its ipo or not. As long you have something solid and good thing in the making, the nxt community will lend their hands.