Decisions on 9 million common fund

[NxtChg]

So what is your suggestion if the community wants to spend right now ? I want to know so i can add it to the poll.

Well, I've already suggested. And it doesn't matter whether BCNext wants to do it or not.

If he decided that this fund is now the property of the community, then he has to obey what community will decide.

And if it decides to make him choose the winners for the next round of bounties, then he must do it because of his own prior decision to delegate this decision to the community.

You following the logic here?

[1714993127]

1714993127

[1714993127]

1714993127

[utopianfuture]

So what is your suggestion if the community wants to spend right now ? I want to know so i can add it to the poll.

Well, I've already suggested. And it doesn't matter whether BCNext wants to do it or not.

If he decided that this fund is now the property of the community, then he has to obey what community will decide.

And if it decides to make him choose the winners for the next round of bounties, then he must do it because of his own prior decision to delegate this decision to the community.

You following the logic here?

don't think so. I won't do and don't have to do anything if i don't want to. The same with BCNext. You can persuade him though. Try it.

[NxtChg]

I won't do and don't have to do anything if i don't want to.

But you want the community to decide, right?

Anyway, this is a pointless argument. People will keep making the same mistakes over and over again. So, I guess, committee it is.

I'll go buy more popcorn for the ensuing battle for half a million bucks...

[msin]

I would say that we allocated at least 6Mil for Dev.  If you build it, they will come.  I really don't see a reason to allocate more than 1-2Mil for Marketing/PR.

[utopianfuture]

I won't do and don't have to do anything if i don't want to.

But you want the community to decide, right?

Anyway, this is a pointless argument. People will keep making the same mistakes over and over again. So, I guess, committee it is.

I'll go buy more popcorn for the ensuing battle for half a million bucks...

I want to freeze the acc. It is just my opinion though.

[bybitcoin]

yeah, thanks klee..

..he probably got his cold from ByBitcoin

May I know about whom are you talking? Since your post has not the quote link and this thread is almost unreadable, already hard to follow any discussion.

Still if you are referring to maco, I didn't give him any cold. I guided him for collecting more help, and he sent me a pm thanking about my guidance (not a sign of it being the irony).
We have about 148383 Nxt remained in our pool, naturally I can not be positive to any single bounty requests being directed to me, that's why I locked our bounty thread. Still I like maco's project and may add to his basket if others help too.
BCNext has control over 13M unclaimed free Nxt coins, still his method of awarding has been a single hunger game. I know dozens of other big holders who have contributed zero help to Nxt project overall (no objection, just the fact). At least BCNext can bring in more constructive bounty settlements for those 13M to help the project going on (he said once that he has invested 1BTC himself, so he has a ~50M stake himself, and no need to let him have those 13M as well, I am sure he doesn't want them personally too).

About Cunicula, yes not a single news or message from him so far, though I recalled for his updates several times.. we paid him 600K (300K from me, 150K from klee and 150K from CfB)... I wouldn't judge him yet, as the others said, he might be dealing with some real life issues. We can say more in one or two months..

this is not correct BCNext has stated we have to deal with them he would put them on an account.

The community is searching a solution on how to administer the unclaimed coins.

The idea is to do it with multisig, 3 multisigs and 2 backups will be chosen from the community. We have to vote for what purpose we will use them. 3 multisigs will sign to set the NXT free.
_________________________
NXT community,

If you are a candidate to administer an multisig for the unclaimed coins.

please fill your BTT name in this doc. we will vote 3 people to administer an multisig and 2 backups.

always three sigs are needed

https://docs.google.com/spreadsheet/ccc?key=0AsrKGhOkVcFpdGl5dFBBSGtoeWNNYW83dlhFeGFXYkE&usp=sharing


Pin

___________________________________--

please come discus important matters such as what with unclaimed coins

and how to implement voting system

https://forums.nxtcrypto.org/viewtopic.php?f=2&t=530

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=529#p2203

There should be a topic like this on nextcoin.org also.

Pin

(in the case if we want to make a pool of that 9M to supply future bounties and reward programs as suggested
by Pinarello in his quote to my previous posts):
I know some of you may hate me for saying this but we need some big leader or holders in the voting list.
It will be much healthier if at least one or two big holders (like klee, Pouncer, or Come-from-Beyond) be
among the selected 9M pool holders to assure future safety of the pool when and if the price skyrocket.
I decided first to include my name among candidates but then changed my mind and deleted my name because
of personal reasons (it takes too much time and responsibility to hold a bounty-reward pool).

All in all without at least one big holder-leader, multisig feature won't feel that trusted in the eye of the community.
What I say is not related to any person included in the candidates list, don't take it as an insult or accusation, having
at least one rich nxter among the multisig pool holders assure things safer in general.

[NxtChg]

I would say that we allocated at least 6Mil for Dev.  If you build it, they will come.  I really don't see a reason to allocate more than 1-2Mil for Marketing/PR.

+1

[oliviern]

and what if the nxt community IS the committee ?...

nxt api could be used/hacked to make a poll system, with messaging included. Any user could create a poll for a project with reward. If there is enough votes (% of the community ?), the project is launched. Moreover, it could be possible to add api calls to register apps, returning a unique app/project token-id, which allows to count numbers of registered users and votes for each app/projects afterwards, and gives the winner of the award.

Don't know exactly how this could be done now, but couldn't this be added to the API2 ?

The voting system could be designed to do such thing. And that's the idea behind the choice of freezing the fund until we have the infrastructure to do so in place

But if the community insists on spending now, there is no other way except forming a committee.

Fine. I understand better the debate. Happy to know this kind of behavior is planned.
Then, this poll % could be used to set the destination of those 9M nxt... ( i.e for now : 22% frozen, 8% back to genesis,57% to fund projects,...)

This way, everybody is happy, and there will be no fight anymore on our small planet

[erik__]

Put it in the bounty program.  Use a portion to reward development teams if the 90 day simple moving average price breaks above certain targets ($.10, $.25, $.50, $1.00, $1.50, $2.00, $5.00, $10.00).  Incentivize the teams.

[Uniqueorn]

I would say that we allocated at least 6Mil for Dev.  If you build it, they will come.  I really don't see a reason to allocate more than 1-2Mil for Marketing/PR.

Totally ignoring the fact that it is the PR and marketing that grows the community which ends up building the ecosystem

[Mistafreeze]

I would like to request that it all be sent to me, to be spent on hookers and blow.

I have to keep moral up, you know?

 

[salsacz]

What could a PR commitee do with the funds, just a quick idea, feel free to comment:
60 articles, 50 infographics, conferences fees, tournaments, videos, translations....

We can always give less to the giveaways and more to the articles.. However it is important to have the right infographics before any giveaway

I think anything between 2-3M should be fine

Someone suggested a creation of the PR Commitee and many people voted for me to lead it, here is my proposal, about people, who might be there. These people would have to agree on using money from the table in the picture.

Salsacz (campaigns, viral marketing, media, people, universities... "organizing" all what is in Media topic) - Bitcointalk, all other forums
NiftyNikel (people) - nextcoin
Uniqueorn (people) - nextcoin
Utopianfuture (articles, people, science world) - Bitcointalk
opticalcarrier (scienceworld?)

? Joefox (texts) - wiki, Bitcointalk
? Anon136 (science world)
? Klee (belongs to the dev commitee)
? Damelon

[msin]

I would say that we allocated at least 6Mil for Dev.  If you build it, they will come.  I really don't see a reason to allocate more than 1-2Mil for Marketing/PR.

Totally ignoring the fact that it is the PR and marketing that grows the community which ends up building the ecosystem

It's a factor, but good development features and clients are the ecosystem.

[tk808]

At this point, Nxt needs a lot more PR and hype. Start spending the funds on the community and awareness of NXT. Even just 1 Million NXT could go a long way.

Set up a time table for when each million is disbursed and to who/what. The dude who posted the chart has the right idea.

[salsacz]

At this point, Nxt needs a lot more PR and hype. Start spending the funds on the community and awareness of NXT. Even just 1 Million NXT could go a long way.

Set up a time table for when each million is disbursed and to who/what. The dude who posted the chart has the right idea.

thank you, here are "my" plans, if community agrees, those will be "our" plans:
https://bitcointalk.org/index.php?topic=412243.msg4555415#msg4555415

[VST]

Convert to fiat over a period of time and donate to a charity of the community's choice.

[pinarello]

...there is no other way except forming a committee.

Let's not make such definitive claims please.

So what is your suggestion if the community wants to spend right now ? I want to know so i can add it to the poll.

"Form a funding committee and start to spend them now" that is what you have used in the poll, I would have used 3 multisigs, coz if that statement wins, we can go vote again for forming that committee.

Pin

[bithic]

I want to freeze the acc. It is just my opinion though.

Why do you want to freeze the account? Do you foresee a greater need for funding in future?

[msin]

Why don't we designate 6Mil for immediate development of clients, features, mobile apps, etc up to the April time frame. We can offer larger bounties like 250k-500k and get some seriously good programmers on board with a vested interest in Nxt (they will continue to help in the interest of their stake).  Then we can spend the 3Mil on website, marketing, tradeshows, etc..

[salsacz]

Why don't we designate 6Mil for immediate development of clients, features, mobile apps, etc up to the April time frame. We can offer larger bounties like 250k-500k and get some seriously good programmers on board with a vested interest in Nxt (they will continue to help in the interest of their stake).  Then we can spend the 3Mil on website, marketing, tradeshows, etc..

the numbers say it too - 52 for spend now and 22 for some freeze.

I would say: developers could take 6 mil now, marketing can take 1 mil now to pay something to translators, article authors, graphics, conferences and in April marketing can take remaining 2 mils and begin with promotional giveaways, gaming tournaments, etc