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Author Topic: Crypto World Bailout Concept - Seeking Help  (Read 322 times)
GoldenFuture
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June 17, 2017, 10:46:29 AM
 #1

Hey guise  Cheesy

I'm coming to bitcointalk community to see if there is any support for my idea.

I think it would be beneficial for Bitcoin / cryptocurrency writ large and the entire world to do a "Crypto World Bailout" -- allow me to explain how I conceive this to play out, with the necessary support.
  • Devs coordinate to create a locked multi-wallet powered by a smart contract to not open to a certain future date, let's say 2/2/2022 for obvious reasons (marketing) but could be some other future date.
  • Crypto community publicizes the locked charity fund, which I like to call Crypto World Bailout.
  • Community members make small, periodic contributions to this fund over time.
  • While funds grow, the community is voting using some mechanism (suggestions welcomed) as to the eventual allocation of fund assets.

I'm hoping with the continued growth in the overall value of the crypto assets writ large, and with the deflationary effect this fund would have on the overall crypto economy -- if successful.... and with the publicity something of this magnitude would bring in --- I'd have to say it could be a great marketing concept for crypto as well as a great use case, morally for the world.

I know this is just an idea but I can do whatever is in my power to help get it off the ground. Specifically, I have marketing, copywriting, sales, Biz Dev and basic HTML / CSS web dev skills.

Please let me know if this is coherent and if anyone knows how we might go about getting a team together to put this into place. I have this image in my head of this fund being the thing that eventually stops hunger, homelessness and potentially ends central authorities writ large.  Shocked Shocked Shocked
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davis196
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June 17, 2017, 11:56:36 AM
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So basically you are talking about a cryptocurrency charity fundriser campaign.
I think that most of the cryptocurrency users are greedy and they won`t donate to charity projects. Grin
Are the "small,periodic contributions"going to be mandatory or no?
I like the "voting" concept.Such a charity project should be more democratic.
A crowdsale will do the work.Every contributor will receive a token,which gives him one vote.
The more tokens you own,the more influence you have about where and for what the funds should be used.

GoldenFuture
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June 22, 2017, 05:17:57 AM
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So basically you are talking about a cryptocurrency charity fundriser campaign.
I think that most of the cryptocurrency users are greedy and they won`t donate to charity projects. Grin
Are the "small,periodic contributions"going to be mandatory or no?
I like the "voting" concept.Such a charity project should be more democratic.
A crowdsale will do the work.Every contributor will receive a token,which gives him one vote.
The more tokens you own,the more influence you have about where and for what the funds should be used.
Nice,

Yeah, already that's more organized than I had it in my head. So, let's say we figured we could really help the world hardcore if we raised say 1 Trillion Dollars (insert Dr. Evil meme here). Could be less of course.

If we were shooting for the tokens to be worth $1 as they are redeemed for projects and we issued 1T tokens, the goal is to have at least 1T in the fund at the time it's cashed out.

It could be done a couple ways:
1.) Just set it as a smart contract that doesn't unlock until the fund is full of a large percentage of the outstanding token supply -- forcing the fund to be sold, publicized and hyped.
2.) Or, somehow set it so that in your vote you can trigger a sale event along with the vote somehow.
3.) Or, just set it to unlock at a set future date upon which the funds just automatically go towards the selected charities / projects after the fund is closed. This could end up being a new way of democratically voting for projects in a use case of replacing government for allocating "public" funds, which of course could be voluntarily contributed.

This sounds like a possible job for BTS and Graphene especially in light of what's going down now with ETH crapping out on ICOs. Until something better is available or BTC is effectively forked... or my $LDOGE stash appreciates substantially... we're going to need some sort of "distraction" if you will... to keep the press spin on Crypto positive.

I like the idea of the world bailout because it gets the whole world involved... think of India now hyping on BTC and badly needing a bailout. Hey India, it's coming!

I know 1 Trillion sounds like too much probably it is. But consider that if we start putting funds in at a approx. $3k BTC and it goes to even $12k by 2020 or 2022. We can unlock the fund with it having appreciated between 1% and 500% (I think my math sucks) depending on whether most of the funds come in early or late. So, let's say it was an average appreciation of 250% and my math was right. That would be us only needing to raise 400 billion. Right now, all of crypto's market cap is 112 B or so. I think it is at least conceivable that over the time between now and 2020 or 2022, we could lock up potentially nearly 400B in crypto if it appreciates enough.

Or just shoot for a smaller # like much smaller. 1 billion dollars is a good start but we could knock that out by Christmas.

Maybe that's the move. We just try to raise 1 Billion in Crypto by Xmas and buy a bunch of poor families turkeys, hams and toys. Hmmmm......  Undecided Huh Grin
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