Well, yes in the short term, it would slightly inflate by adding more OCTO. If you are looking to offload some now, then it would hurt you. But at the same time this first year we are adding about half a million OCTO a month from mining. You can see there's more downward pressure at Bittrex than upward. Most of the sells are probably miners in my opinion. Until projects are launched or until there is any reason to give OCTO value we are dealing with the inflation and constant downward pressure.
The main reasons, though, that I'm against the burn is for perceptions from the outside, the possibility of constant late showers wanting to burn and the fact that any OCTO we have now should be used to help raise the value and ROI. Adding more to the burn does none of these.
Adding to the burn and gaining a few more people who may or may not even be active in the community does not help us necessarily. Unless they are just a superstar community member who does a lot for the coin and the community we just gave away some more OCTO to someone who is only looking to dump eventually.
Adding to the burn opens up that door we've already seen a few times where people are coming out of the woodwork wanting to burn. I get it. It sucks. But that's where we as a community should help. Many of us burned hundreds of thousands and some burned millions. If we held a burn, we wouldn't be doing a 1:1 trade anyways, more like a 3:1 to 5:1 trade off to fight inflating the total burn number. So, if they aren't going to even get their full amount, I think most of us are in a position to help make it right, if we can.
And speaking of making things right, and helping people, How many people here received DNOTES from that community as a generous token because they loved the Octocoin community and wanted to help since the devs screwed us? They should be the ones gaining some OCTO. How about the guys that helped out with the burn and the planning? The ones that created the burn address? Re-launched a block explorer with their own BTC? Robert at FoldingCoin who has spent countless hours of his time helping with a burn, assisting with training, skype calls, answering emails, correcting issues. My point is, there are tons of people here who have been active and pitched in a helping hand. Not that I'm calling people who are showing up late for the burn leeches, but I'm just saying, not only should we take care of them, but we should really take care of everyone that pitches in.
Just for clarification, that doesn't include me. I've already had some generous people in OCTO and other organizations just give me OCTO. So, i'm good. Thanks to those who did that. More than receiving the OCTO, just being appreciated for my effort is always good and helps keep my head up when things are stressful.
I think before the weekend is over, that i'll list a few addresses for donations. I know some have already sent me donations that will go to djslick. If you know someone that missed the burn and wants in on OCTO, please just PM me their names. Separate addresses will be set for different individuals.
Remember this, if we want OCTO to be valuable for all, there's a lot of work that has to be done. It's not going to happen overnight. And we are fighting a battle since we already have burned coins. Many don't understand that. But most coins that have crowd sales don't start with a community already holding almost 20 million of the 88.8 million total tokens. They assume we are waiting for the big rise and there will be a large dump that will kill their ROI. Every coin fights this in some way. But, there are things we can do to combat this. The best thing about tokens, is that you can sweeten the pot, with extra tokens that do other things. OCTO's crowd sale will include many tokens that do many different things so that they are invested in OCTO but have greater incentive to buy because they will receive a wide variety of tokens that they can use or even sell to others who may want to use that specific token.
We also have to consider that we still have to fund devs, use some OCTO to distribute for free as promotions, advertising, and even give some OCTO to people who sign up for the main projects websites. One way to draw users to play a game on the website will be that each signup has some OCTO to start with.
I hope most here agree with this. I know many have said they do. I haven't seen too many throw a fit for the other direction. And remember, this is not set in stone, if you disagree, say something. I think there is always a way to solve problems and that there are many people here with great ideas. So let's hear them if you have something better than what's posted
For now, I will proceed with setting up donation addresses as they come in. Each address will be open for one month. So anyone who wants donations will receive one months worth. They also have to give me their address within that month. Any one who receives donations and does not claim them with their Counterparty address by the end of that month, the funds will be held for a 1 week grace period before the donations will be sent to the dev fund address. And by dev fund address, that does not include me. That is an address with about 300,000 OCTO so far that will only be used to give to actual developers of the website, the code, etc.
Thanks guys! PM me those who are interested in receiving OCTO donations. I pledge to donate to each of them.
