Overview:Sponsored by:
XMG - Coin of the Magi.PoB (proof of biking) is a way to show support for the environment while helping grow the use of cryptocoins. Cryptocoins need a basis of economic activity to support their value and there really is not much traditional work involved in building and maintaining a cryptocoin. This is a way for anyone with few barriers to entry to get involved in cryptocoins.
How this works:This is an incentive payment for activities to help the growth of the coin that can be open to any cryptocoins that are of interest to anyone. Just like PoW and PoS, PoB operates to build and support a block chain through an economic activity. I'd like this to be run and supported by the community that is involved in it. These recommendations can be modified by the community as they see fit. Together we can go much farther than anyone alone could do and it will share the load.
Getting started with PoB:To get started post a picture of your bicycle (or shoes for those with no bike or just state your interest for those with no camera) to this bitcoin talk thread for proof of biking and make the commitment to walk, bike or use public transportation as much as possible for one week. Make sure the PoB pot your enrolling in is currently open for new members and if multiple pots are offered make sure you get signed up for the coins that interest you. At the end of the week post your results, how things went, any issues etc. Each week the “pot” will be divided up between all the participants up to a maximum determined by the sponsor that started the “pot”. If you want to stay involved in additional weeks you will need to make a small donation to a pot you enroll in or ask for donation support from local bicycle stores, friends, Bill Gates, etc. Results are posted on an honor system and you can propose a percentage reward based on your commitment. The main thing is to have fun and not get too hung up about who drove who's kids each day to school in the SUV.
How to run a weekly donation pot: Announce the dates the campaign will run over and give some time for people to sign up prior to the start. Let people know what type of coin is offered and use some type of identifier for enrolling if need be. Keep track of the people that show interest and their results. Split the pot fairly between everyone. If there are some special rules like a maximum amount you wish to give to everyone or a limit to the number of people that can sign up please let everyone know in the initial posting. A publicly visible spreadsheet can be used to show the participants but it is up to you how you want to do things. You can request special donations to a tip address to help with your time involvement or state clearly your intentions around the way the funds will be split in your posting.
How to donate:If your a business or individual not involved already with cryptocoins you can purchase cryptocoins from any number of exchanges and donate directly to a currently running PoB pot or you can start one yourself. You can introduce yourself by a posting or send a personal message to the PoB pot organizer and advertise the event. Guidelines: Choose coins that have a block explorer where everyone can see the amounts deposited to the address. Large donations are best spread out a bit over a few different pots unless you want to make someone really happy or expect to generate a lot of interest in the event.
Why get involved:It is healthy for you and the planet. Bike riding, walking and cryptocoins are fun (if they aren't fun for you then perhaps you should try something else). The act of giving and receiving is a basic way that communities of like minded people form and things have historically been done. It is a very effective way of getting something of value without mining metals from the earth or depleting too many resources. Besides standing out on a corner with a sign can you think of a less environmentally tasking way to move value back and forth? (Actually printing and making paper cash could be more environmentally tasking but that's debatable)
If you want people to enjoy and use your product you need to get interest in it started. It is a very simple economic activity that combines word of mouth advertising with enjoyment.
With the huge overnight growth of cryptocoins we are seeing that the conventional rules of supply and demand are not holding up too well. Thankfully the strict rules of scarcity and control, which had worked historically for so long, are being replaced. With open source software we are finding that there is no shortage of coins as new types of coins are constantly being built. Cryptocoin mining activities can be done in various ways with little additional investment in some cases. Supportive communities on the other hand are difficult to build as coin after coin is mined and then discarded. This is one way to show support for a coin that you like and build value for the community and additionally yourself.
Video:
PoB
