Bitcoin Forum
April 24, 2018, 03:53:07 AM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Poll
Question: What should we do with any left over stakes if we don't reach ~3000 stakeholders
Distribute to existing stakeholders
Use to pay for bounties & developers
Keep in trust for later distribution

Pages: [1] 2 3 4 »  All
  Print  
Author Topic: Kora:: What should we do with left over stakes?  (Read 5353 times)
Kora
Sr. Member
****
Offline Offline

Activity: 308
Merit: 250


View Profile
July 02, 2014, 12:10:10 AM
 #1

The Kora registration process is going very well, but it looks like we will not reach 3000 stakeholders. What should we do with the left over stakes?

I can see advantages from all options (and maybe we can split any left over stakes between two, or even all three options above), but I think the best option is 3. Keep in trust for later distribution

IMO we have 25% for power bounties, plus 5% for the core dev (plus a little extra bitcoin payment from me), and the webapp registration dev also has 5%, so I think we have dev bounties covered. I do want to encourage people to donate to the dev team though, but we have planned well for formal community bounties IMO.

In my mind the choice is between increasing the size of the stake for existing stakeholders, or keeping the remaining stakes in trust and opening up registrations later on when Kora is better known. I feel Kora has momentum now, and once we distribute Kora tokens on the NXT AE we will get a lot more exposure. I've already had approaches from some crypto media outlets, and I think in 2-3 months once nioccoin has had some time to lay out his future dev roadmap to the community, I believe Kora *could* have a sizable buzz around it similar to what NEM has now. If that does happen it would be so awesome to be able to open up registrations again for another ~1500-2000 stakeholders.

I believe by opening up registrations later on for a 'round 2' we *could* end up increasing the value of the round 1 stakes by a larger amount than if we distribute the left over stakes to existing round 1 stakeholders. IMO the real 'value' comes from the Kora community, and as stakes are free we need to expect a lot more passive bystanders than NXT & Qora have. For that reason I think having those left over stakes in trust for later distribution is the best option.

One of my non-negotiable Kora fundamentals is 'Kora stakes are free', so I can guarantee there will NOT be an auction or sale of any left over Kora stakes. That doesn't mean that we can't raise the bar a little and ask any interested people to 'contribute' in some way. The first round of Kora registrations included some tasks, but we weren't asking people to do any 'work' as such. If we opened up registrations again in 2-3 months for example, we could distribute Kora stakes based on a non-monetary contribution that doesn't advantage people from high exchange rate countries.

That is a key requirement for me. A small bitcoin amount to me, like 0.01 btc, IS NOT small to someone from a low exchange rate country, so having an auction for any left-over stakes is non-negotiable as far as I am concerned. We can however, ask that round two Kora registration users agree to contribute some "hours" to Kora. That could be promotion, writing, dev, artwork, slogan writing etc etc. Anything useful Smiley

Anyway, lets see what people think, and then we will decide as a community!

1524541987
Hero Member
*
Offline Offline

Posts: 1524541987

View Profile Personal Message (Offline)

Ignore
1524541987
Reply with quote  #2

1524541987
Report to moderator
1524541987
Hero Member
*
Offline Offline

Posts: 1524541987

View Profile Personal Message (Offline)

Ignore
1524541987
Reply with quote  #2

1524541987
Report to moderator
1524541987
Hero Member
*
Offline Offline

Posts: 1524541987

View Profile Personal Message (Offline)

Ignore
1524541987
Reply with quote  #2

1524541987
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1524541987
Hero Member
*
Offline Offline

Posts: 1524541987

View Profile Personal Message (Offline)

Ignore
1524541987
Reply with quote  #2

1524541987
Report to moderator
xyzzyx
Sr. Member
****
Offline Offline

Activity: 490
Merit: 250


I don't really come from outer space.


View Profile
July 02, 2014, 02:12:13 AM
 #2

I found I am the only person who voted option 2.
 

A more reasonable suggestion: what about combining 3 options?

For example : some for current stakeholders, some for devs, other stakes for Keeping in trust for later distribution


The unclaimed coins in Nxt were used for bounties to pay marketing, infrastructure, and developers.  I think it worked well.

"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
tobeaj2mer01
Legendary
*
Offline Offline

Activity: 1087
Merit: 1000


Angel investor.


View Profile
July 02, 2014, 03:28:22 AM
 #3

I prefer to the option "Distribute to existing stakeholders"

Sirx: SQyHJdSRPk5WyvQ5rJpwDUHrLVSvK2ffFa
Xpedite
Sr. Member
****
Offline Offline

Activity: 258
Merit: 250


DRAMA: Dumb Retards Asking More Attention


View Profile
July 02, 2014, 05:51:28 AM
 #4

I prefer to distribute them among all existing stakeholders. I believe that a percentage of coins reserved for development that is too high will not benefit the image of the coin. Too much coins in the hands of developers is always countered by suspicion...
On the other hand everyone should realise that a crucial aspect of a coin's future lies in continuing development!

So I think we should all commit to contribute to bounties if the coins get distributed over the existing stakeholders. ( I know , I 'm a little naive  Cheesy )

jcarl987
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
July 02, 2014, 06:15:18 AM
 #5

Can you add an option for a combination of 1 and 2?

CripLib
Full Member
***
Offline Offline

Activity: 175
Merit: 100

Crypto Liberty


View Profile
July 02, 2014, 04:08:55 PM
 #6

I prefer to distribute them among all existing stakeholders. I believe that a percentage of coins reserved for development that is too high will not benefit the image of the coin. Too much coins in the hands of developers is always countered by suspicion...
On the other hand everyone should realise that a crucial aspect of a coin's future lies in continuing development!

So I think we should all commit to contribute to bounties if the coins get distributed over the existing stakeholders. ( I know , I 'm a little naive  Cheesy )



It's true. Actually it was already expected that reaching the number 3,000 stakeholders would be not possible (if comparing with previous ipo examples).

Although keeping a small fair percentage for initial development IS necessary, there should be a distribution of these left over stakes among all already existing stakeholders. It is obvious that those stakeholders who believe in KORA will WORK for it, while those who are just willing to dump it will just dump, it's inevitable (and there's no way guess who is who).

INSTANT GAMBLING  .!..PRIMEDICE.... 0.91% HOUSE EDGE
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀▀▀▀▀▀▀▀▀▀▀▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄               HIGH BTC FAUCET EACH MINUTE!                    SELL YOUR SIGNATURE SPACE FOR BITCOINS!
THE WORLD'S MOST POPULAR BITCOIN GAMBLING WEBSITE
Snail2
Legendary
*
Offline Offline

Activity: 1358
Merit: 1000



View Profile
July 03, 2014, 12:10:28 PM
 #7

Maybe you could use the remaining coins for bounties and faucets...
... um... well, after giving away a part of it for existing stakeholders Cheesy. (Greed! Is that you?)
cryptonikus
Hero Member
*****
Offline Offline

Activity: 598
Merit: 500


View Profile
July 03, 2014, 01:16:01 PM
 #8

please add possibility for combination of options.

than, when it will win Cheesy , make another vote for percentual divisions, like 30% + 70%, 50% + 50%, 60%+40% etc. Cheesy

         ▄███████████████▄
       ▄██▀             ▀██▄
    ▄▄██▀                 ▀██▄▄
█████▀▀       ▄▀▀▀▀▀▀▀▄▄    ▀▀█████
██          ▄▀ ▄▄▄▀▀▀▀▄▀█▄▄      ██
▐█▌       ▄▀ ▄▀ ▄▄▄▀▀▀▄▀▀▀███   ▐█▌
 ██      ▄▀▄▀▄▀▀▄▄▄▀▀▀▀▀█ ▄█▀   ██
 ▐█▌    █▄▀▄▀▄█▀▀▀ ▀█▀ ▄▀▄▀█   ▐█▌
  ██    █▄▀▄▀▄▄█▀ ▄▀ ▄▀▄▀▄▀█   ██
  ▐█▌ ▀▄█████▀▄▄▀▀▄▄▀▄▀▄▀▄▀█  ▐█▌
   ██▌▀████▀██▄▄▀▀▄▄▀▄▀▄▀▄█▀ ▐██
    ██▌▀█▀▀█▄▀▀▄▀▀▄▄▀▄█▄▄█▀ ▐██
     ██▌ ▀  ▀███▄▄▄█████▀  ▐██
      ██▄      ▀▀▀▀▀      ▄██
       ▀██▄             ▄██▀
         ▀██▄         ▄██▀
           ▀██▄     ▄██▀
             ▀███▄███▀
               ▀███▀
.DeepOnion.
★ ★ ★ ★ ★  .❱❱❱ JOIN AIRDROP NOW!.
TOR INTEGRATED & SECURED
★  Your Anonymity Guaranteed
★  Your Assets Secured by TOR
★  Guard Your Privacy!
|Bitcointalk
Reddit
Telegram
|                        ▄▄▀▄▄▀▄▄▀▄▀▀
                    ▄▄██▀█▀▄▀▀▀
                  ▄██▄█▄██▀
                ▄██████▀
              ▄██████▀
  ▄█▄▄▄▄▄▄▄▄▄██████▀
██████▀▀▀▀▀██████▀
 ▀█████  ▄███████
  ████████████▀██
  ██▀███████▀  ██
  ██ ▀████▀    ██
  ██   ▀▀      ██
  ▀█████████████▀
TaijiBagua
Jr. Member
*
Offline Offline

Activity: 56
Merit: 0


View Profile
July 03, 2014, 01:19:06 PM
 #9

please add possibility for combination of options.

than, when it will win Cheesy , make another vote for percentual divisions, like 30% + 70%, 50% + 50%, 60%+40% etc. Cheesy

endless vote?  or a loop?  Grin

Get Daily Free SIGNs before too late (https://bitcointalk.org/index.php?topic=702583). T6VothE5aFM5ntMYnwCe2LMt5iAKBPuaY5
tonyk
Full Member
***
Offline Offline

Activity: 122
Merit: 100


View Profile
July 03, 2014, 02:27:01 PM
 #10


Kora,

If you chose # 3. i.e. to ‘ Keep in trust for later distribution’
Make those later stakes smaller and non-tradable for 3-6-9 mo.
You can do something similar with the extra stake if you chose #1 also.



Burakius
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
July 04, 2014, 12:17:57 AM
 #11

I can't seem to vote. But I think we should keep it as bounties etc. We eventually will have to pay people for some professional stuff. I know the community is great etc. in developing for free etc. But in the end no one has a stake they paid for unlike NEM. That's why I think it needs at least to have some kora coins in the bank to reward people.
EvilDave
Hero Member
*****
Offline Offline

Activity: 854
Merit: 1000



View Profile
July 04, 2014, 12:42:47 AM
 #12

I vote for give them all to me, but that might not be the popular choice.

Based on my previous experiences: keep them in trust to use for development + marketing bounties. You can never have a big enough warchest.

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
baxi
Jr. Member
*
Offline Offline

Activity: 33
Merit: 0


View Profile
July 04, 2014, 03:44:04 AM
 #13

Use to pay for bounties & developers
nikola384
Member
**
Offline Offline

Activity: 76
Merit: 10


View Profile
July 04, 2014, 04:29:16 AM
 #14

Split them between the 3 choices about equally.

wwdz99
Sr. Member
****
Offline Offline

Activity: 245
Merit: 250



View Profile
July 04, 2014, 07:09:59 AM
 #15

IMO  "Distribute to existing stakeholders" is better.

devphp
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250


View Profile
July 04, 2014, 07:16:20 AM
 #16

Destroy them.
testcoin
Sr. Member
****
Offline Offline

Activity: 449
Merit: 250


View Profile WWW
July 04, 2014, 08:45:53 AM
 #17

Option 3 is obviously the best one if you do want to stay long

Option 1 is a big NO, although I expect many existing stakeholders should have voted for it. However, this option will just continue to benefit a smaller group of people, and make the whole distribution even more unfair. It will surely make Kora no difference to other junk coins available elsewhere

Maybe you can consider to offer a little bit less for later distribution. That means a combination of 2 and 3 should work fine









CoinHoarder
Legendary
*
Offline Offline

Activity: 1400
Merit: 1003

In Cryptocoins I Trust


View Profile
July 04, 2014, 08:50:19 AM
 #18

I'm not an investor, but option #2 seems like a sensible solution. EDIT: OH I realized you can sign up for the IPO for free- good idea, I may go sign up myself.  Smiley

The more development funds for bounties and developers the better, and the more likely Kora will be a success.


Decentralized.Tech: Market Data, Portfolios, etc->Website->Thread->Twitter
CryptoHunch: A blockchain-asset-based tradable card game->Website->Thread->Twitter->Telegram
g3rszpi
Hero Member
*****
Offline Offline

Activity: 728
Merit: 500


View Profile
July 04, 2014, 10:10:14 AM
 #19

IMO is better to distribute for existing stakeholders. Why?
If you extend the registration phease, or keep open the registration for later, there will be more and more sockpuppets. By giving time to users they can figure out wich are the weaknesses of system and they can make sockpuppets without catching them.
On the otherside, if there will be much more stakeholders, there will be users who will keep the coin for looong loong time so there will be no movement of the coin, there will be no trades, moves on the market, and the coin could become dead. And by having less stakeholders, we can make a 'community' (wich is already forming thanks for the promotion and dev) wich can take care of coin, who can move it.
Also i hope there will be no pump and dump
atchoum6760
Legendary
*
Offline Offline

Activity: 1274
Merit: 1041



View Profile
July 04, 2014, 10:15:31 AM
 #20

I vote Distribute to existing stakeholders  Tongue
Pages: [1] 2 3 4 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!