We are talking about distribution in the telegram chat, it would be great if all the community members could jump in. It's all to play for - the correct distribution has to occur though for the network to remain decentralized. So far there is no common solution to distribution problems.
There is no POW or POS in relation to this coin, so it has to be taken with a gentle approach. So I invite anyone to come in and talk about the distribution model because the community can really help with this.
https://t.me/SkycoinYes. The best solution is
- raise money from early investors through ICO, to fund development
- do most of the distribution through the network operation (while keeping the price per coin high; this will not be a "coin drop")
The people who bootstrap the network should benefit the most. Although the early investors will get 20x to 50x from the pop, from ICO to exchange listing. The earliest investors are already up 8x to 16x from when the coin was sold for 10 cents per Skycoin.
The current market cap is $4,481,768.
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https://coinmarketcap.com/currencies/skycoin/This means for early network/bootstrap, we would need to see another 50x to 250x increase in price/coin after the 20x to 50x ICO pop. To show a good return for the early network stakeholders. Which I think is reasonable.
We are only going to be able to do that, if the coin supply is kept tight. We can not do "free coins" raining from the sky and people dumping them for bitcoin the second they get them.
We have a responsibility to achieve a good return for the early investors, project sponsors and stakeholders. We have to look at not the distribution and whether it is "fair" or "decentralized", but look at the price per coin and then make sure that the people who bought coins in early rounds, do not end up losing money. As long as the price per coin goes up, no one will complain.
- The people complaining about the distribution are all people who do not own Skycoins.
- The people who own coins, want us to keep the coin supply tight and are indifferent about the distribution . They want to know that we will not do anything to drive down the price per coin
And the most important thing is that we achieve the project objectives and get the software working.
Coin Burn:If Skycoin has too much money and we need to do a "coin burn", we will sell $60 million dollars in coins and produce open source RISCV ASICs or will put a satellite into orbit with skycoin node for marketing. Or fund twenty software defined radio projects.
There are less retarded things to do, than throwing the coins in a hole and burning them for no reason.
Skycoin is already at 5% distributed, so the distribution issue is no irreverent.
- If every coin was dumped, then coin supply would only increase 20x from current value
- The Skycoin price could easily go up 20x or more from current value
- If the coin supply increased 20x and the market cap goes up 600x, then the price per coin has still increased 30x.
Our distribution policy is to sell off coins, then invest the money in projects that will increase or grow the equity of the Skycoin network and ecosystem.
Locking up coins or throwing money in a hole and burning it, is retarded as long as we have productive projects to invest in to build the equity of the network.
A massive distribution only benefits the pump and dump people who want coins to stir-fry. It does not work for a long term project or anything that has to be around in a year.
