Fair Profit for Coin Founders

[GSnak]

the coin they worked so hard to launch.

Been a while since I've seen that.

[Vlad2Vlad]

the coin they worked so hard to launch.

Been a while since I've seen that.

I'm not a programmer.  I just assumed it took quite a bit of programming otherwise why wouldn't everyone here launch their own coin.

[TheSpiral]

I'm not a programmer.  I just assumed it took quite a bit of programming otherwise why wouldn't everyone here launch their own coin.

Integrity.

[Vlad2Vlad]

I'm not a programmer.  I just assumed it took quite a bit of programming otherwise why wouldn't everyone here launch their own coin.

Integrity.

Well, I gotta at least figure out how to launch the charity coin, orphanCoin.  If it's that easy I don't care about making money from that one.

[Vlad2Vlad]

So how many bitcoins bounty do I have to put out there to get a programmer on here to prepare a coin for me to launch?

I haven't a clue.  But you guys make it sound like it's easy.  There's gotta be programmers on here for hire.  Like mercenaries, only with brains and a keyboard.  Lol.

[The Goat Master]

devs should get a certain percentage...

[Vlad2Vlad]

devs should get a certain percentage...

I agree, I think that's the most fair way to do it.

[fishy]

I can't stop staring at your rig.  I saved it on my ipad.  Crazy.  I wish I had money to build a quarter of that.  That's just crazy.

can I see the pic?

[Vlad2Vlad]

I can't stop staring at your rig.  I saved it on my ipad.  Crazy.  I wish I had money to build a quarter of that.  That's just crazy.

can I see the pic?

It's on the last page, page 3.

[xan_The_Dragon]

There is no good way to do it. I believe in no forced allocation to the founder because its bad for a coin, but at the same time i think people need to get something out of it (if they innovate) in order to motivate them to innovate

[WindMaster]

So how many bitcoins bounty do I have to put out there to get a programmer on here to prepare a coin for me to launch?

I haven't a clue.  But you guys make it sound like it's easy.  There's gotta be programmers on here for hire.  Like mercenaries, only with brains and a keyboard.  Lol.

Not trying to be rude.  But I think a lot of people are already thinking it but no one is saying it.  It does not sound like you're a good candidate to be launching a coin.

I Simply don't have the money to launch a charity coin.  I'm not working a regular Job and I have 2 kids. I'm struggling.  That's what I meant. I thought if I had success with a for profit coin then i could easily launch a charity coin. 

I'll stick to my 9 to 5 at the bank and keep my life simple instead of neglecting my family pulling 16 hour shifts trying to launch a coin with no guarantees or success.

And I also think the ETF is gonna create a craze and push bitcoin past $1,000 by next year but of course that's crazy talk at this point.  But everything I know about investing tells me there's a high probability of that happening by next year.

You're trying to launch a coin for all the wrong reasons.  Polluting the alt-coin world with another coin so you can solve your own financial woes through a get-rich-quick scheme certainly isn't the right path here.  Altruism is important for people to trust the developer's motives.  Altruism is not communism as you suggested earlier in the thread.

If you are indeed a successful investor, why are you in the financial predicament you're in?  Are you working a 9 to 5 bank job, or are you not working a regular job?  There's no faster way to financial doom than to follow the advice of a broke investor.

[solracx]

OP = Original Post.  IE the one you made to start this thread.  

Just wondering.  Just from your wording about certain things.  Are you a programmer?  Or do you have much programming experience?  Or are you thinking about hiring someone to create the coin for you?

Since you are looking for innovation for your coin.  What ways are you things about innovating the coin?  Are you planning on doing more then changing the name of Litecoin to your name??  If that's all your doing, how much do you believe you should get for developing the coin?  Or are you talking more from the perspective of working/developing the coin to be better accepted in the Fait/banking world as a payment option?  

The reason your getting so much negativity is until you can show your different from the 99% of other developers, your categorized in the same group as the rest of them.  Many/most don't do enough to not deserve the answer that is leading in your poll.

Since it's your coin, the ball is really in your court.  Pay yourself as much or as little as you want.  Premine it as a developer fund if you feel like.  If you prove your worth it, people will put their trust in you and mine for your coin.

I'm an economist, so I'm different from 99% of the current developers.

I have only known about crypto-coins for 3 months now and I'm blown away.  People don't realize what they have here.

Bitcoin is just an infant and its gonna grow up faster than the dot com boom. All laugh at the Bitcoin ETF application and the pros think they'll never get approved by the US govt but I'm 100% certain they will, and that will change everything.

That will be phase 2 - alt coin hyper drive.  That will happen next year.  I want to get my own coin launched before that happens cause at that point there's gonna be over 300 coins on the market and dozens of new ones per week.  

This is the final days if you wanna get noticed but I can't program and I'm low on money since I'm not working a regular job right now.

But I want to launch a great coin, and that won't be cheap or easy.

I agree with you that there will be 100's of new coins.  But people have this tunnel vision that all coins will have to be like Bitcoin.

I think it will be the other way around, not all coins will be like Bitcoin and Litecoin.  In fact, we will see coins were mining is just not available to the public.  We've seen the first of that come out in Tradecoin.   ZenithCoin is like previous coins with a percentage allocation.   I am betting that in the long term, coins with an incentive for developers will eventually win out over pump and dump coins.


You are an economist, and clearly you see the lack of incentive for most developers to maintain a coin.   

Anyway if you are interested in creating a coin,   I can do that for you.  But first you need a good idea.

[solracx]

Well, you're presuming the price of bitcoin will stay at $100 or drop while difficulty will go to 100 million.

That's a possibility but I think based on the fact that I'm certain the ETF will get approved (and I seem to be alone on this) that bitcoin will skyrocket later this year and especially next year so now is the time to buy mining rigs cause if I'm right there's gonna be a 1 year wait. 

And I also think the ETF is gonna create a craze and push bitcoin past $1,000 by next year but of course that's crazy talk at this point.  But everything I know about investing tells me there's a high probability of that happening by next year.

If that happens then the mining rigs I bought will be worth their weight in gold, literally.

You have to take some educated risks if you're gonna make it big and that's what I'm doing.  I do realize this is a very high risk at this point as no human on earth thinks Bitcoin will hit $250 next year let alone $1,000.

Good luck.

It's not about taking risks, the point was, you could just buy lots more Bitcoin for the same money right now, instead of waiting for asics to arrive, by which point difficulty is going to skyrocket, which means for the lifetime of your purchased BFL, it would never mine as many bitcoin as if you just use the purchase money to buy bitcoin when the price is low. If bitcoins disappears, your asics are useless, so it's the same as buying bitcoin.

I also got into bitcoin just 3 months ago, but I decided to build this, instead:


Reason:

• I can still buy bitcoin anytime I want with my litecoin
• I don't waste time waiting for anything while difficulty sky rockets
• If everything bursts, I can still recoup 60% of my investment selling hardware

Nice case... what is it made of?

[mercSuey]

25% of minted coins allocated towards the devs is absurd.  I was thinking 1 to 5% at most.  I'd actually feel more secure knowing devs were devoting 100% of their time working on the coin, instead of trying to fit in the time around their day job.  Personally, I find it a bit worrying when LTC devs need to post fund raiser thread on this forum.  But hey, that's just me...

[Vlad2Vlad]

Yeah, I can't believe the guy made that.  He must be an engineer.  I've just never seen anything that nice and professional as far as GPU miners.  And for only $18,000, he must have gotten some deals cause I figured minimum $25,000.

He should get all his money back in probably 6-9 months off LTC Coins.  That's the best investment there is.  Well, ASIC machines are better but it may be Christmas before I get mine and by then who knows what's gonna happen to bitcoin and without bitcoin those ASICS are worthless.

[Vlad2Vlad]

25% of minted coins allocated towards the devs is absurd.  I was thinking 1 to 5% at most.  I'd actually feel more secure knowing devs were devoting 100% of their time working on the coin, instead of trying to fit it in the time around their day job.  Personally, I find it a bit worrying when LTC devs need to post fund raiser thread on this forum.  But hey, that's just me...

How can they devote 100% of their time to a coin on 5%?  Most of these guys are educated making at least $70,000 per year.  At 25% it may be worth it but at 5%, no way.

That's what I was trying to say.  If devs get paid right they're more likely to promote the coin more then miners will come out ahead.

[mercSuey]

25% of minted coins allocated towards the devs is absurd.  I was thinking 1 to 5% at most.  I'd actually feel more secure knowing devs were devoting 100% of their time working on the coin, instead of trying to fit it in the time around their day job.  Personally, I find it a bit worrying when LTC devs need to post fund raiser thread on this forum.  But hey, that's just me...

How can they devote 100% of their time to a coin on 5%?  Most of these guys are educated making at least $70,000 per year.  At 25% it may be worth it but at 5%, no way.

That's what I was trying to say.  If devs get paid right they're more likely to promote the coin more then miners will come out ahead.

But then again, if dev team is open and it keeps growing with skilled people, then this works as well.  Hence peer to peer on all facets. 

[Vlad2Vlad]

25% of minted coins allocated towards the devs is absurd.  I was thinking 1 to 5% at most.  I'd actually feel more secure knowing devs were devoting 100% of their time working on the coin, instead of trying to fit it in the time around their day job.  Personally, I find it a bit worrying when LTC devs need to post fund raiser thread on this forum.  But hey, that's just me...

How can they devote 100% of their time to a coin on 5%?  Most of these guys are educated making at least $70,000 per year.  At 25% it may be worth it but at 5%, no way.

That's what I was trying to say.  If devs get paid right they're more likely to promote the coin more then miners will come out ahead.

But then again, if dev team is open and it keeps growing with skilled people, then this works as well.  Hence peer to peer on all facets. 

My thoughts exactly.  Obviously if the dev is a scammer he's not gonna grow the talent so that's when you abandon his coin but if he shows real effort in growing that coin then they deserve the 25%. That's not a lot of money unless the coin actually takes off. That's why most of these guys have full-time job.

If I get a job back at a major bank I can't quit that kind of money for a piddly coin which pays me $500 per month. That's what 5% would probably equate to for most of these coins.  And that's if they dump all their coins. 

If I had my own coin I wouldn't want to do that, I'd want to keep a big portion for the future.

[Vlad2Vlad]

Can somebody tell me what I expect to pay a guy like hazard for prepping a coin for launch, for me?  I know nothing about programming. TIA.

[Vlad2Vlad]

There is no good way to do it. I believe in no forced allocation to the founder because its bad for a coin, but at the same time i think people need to get something out of it (if they innovate) in order to motivate them to innovate

My thoughts exactly.  If there's a real inventive we'll start seeing real teams of developers come on board.

This is what I think a bitcoin ETF will do.  Much more but this will be one huge positive. It will bring in a different class of developers.  Super devs.  Then you're gonna see crazy good innovation and those guys will demand huge % and they'll deserve it.