Should I even consider running a 100% pay delegate.
I am testing the waters here, if this proposition is even possible now or ever.
I should be pretty notorious on this forum, so if you do not know me you probably have not dared to say anything remotely controversial... like ever.
Here is the pitch:
My pay -
100% paid delegate, keeping the minimum of BTS at the start. I am making minimum wage in US (the exact number will be calculated at the start of the delegate but something like $7.25/hr or at current rate $1242 mo. / 400 BTS/BTC = 3.105 BTC or 3.105/ 0.0000465 = about 66,775 BTS/mo.)
That amount is after income taxes. Additionally I do not feel qualified enough to run a delegate by myself at an acceptable enough level (I mean technically), so I will use the services of somebody else to run the tech part of a delegate for me. For this writing I assume this expense @ 3 times the non-diluted delegate pay-rate. Hopefully this will be less, we will see.
I just want to make one point clear. I expect to be paid the same amount of BTS in the future (after expenses). In other words I will start with the minimum take home wage and expect it to grow as the BTS grows.
Some development cost is to be expected in some phases of this project.
Services provided -
I intend to run several projects, aimed at benefiting the community by providing information, supporting the market peg and or testing concepts for the benefit of the BTS community at large. The projects I want to start out with are listed below. Most of them require some funding. I intend to provide the funding myself aka use my own funds to run those projects to begin with. Some of the projects will benefit greatly by the support of the community, and for those I will try to provide explanation how this can be achieved.Lets turn $1,000 into $1,000,000 (or at least 750K).
The idea is discussed at https://bitsharestalk.org/index.php?topic=11187.msg148176#msg148176
. I will provide the initial funds as well as info on the trades made on a regular basis. It should be fun and will also provide inspiration and keep the moral of smaller stakeholders high.
[additional funding needed $0 to $350] for the whole duration of the project.
[End date - BTS reaching $2.50/piece]Fast Tight bitUSD Peg
The general idea is described here https://bitsharestalk.org/index.php?topic=11002.0
. This asset/fund will benefit hugely if implemented on a larger scale, but my effort may be used as proof of concept.
The inner workings of the idea are to keep a call at the peg position and buying underpriced bitUSD and selling them at the peg while providing very tight sell price for willing bitUSD holders. The profitability of this strategy is undetermined in BTS terms (but believed to be profitable) but expected to be fairly profitable in bitUSD terms. Initial funding will be provide by me.
There will be up to 2 user issued asset for this idea to work:
- FastbitUSD sold at 1.0075 bitUSD [maintained by me with a sell amount determined by the inner workings of the fund]
- FastbitUSD bought at $1.00. For all FastbitUSD sold. Paid in BTS!
[It works like this for the customer. The customer has 1 bitUSD. He buys 1 FastbitUSD for 1.0075 bitUSD and sells it immediately for the peg amount of 1 BTS, paid in BTS.]SUPPORTFastbitUSD
SUPPORTFastbitUSD is an asset for the people that wish to support a tight peg. They donate $1 and receive 1 SUPPORTFastbitUSD badge/asset. If the operations of FastbitUSD are profitable (not guaranteed but expected) all SUPPORTFastbitUSD holders receive distributions as the profits of FastbitUSD, when the bitUSD market grows and matures.Perpetual Mobile Advertising Fund
The idea is described here:[link]
Generally instead of shorting bitAssets by themselves people donate to this fund. The fund shorts pretty much all of its BTS. It uses some of the profits from shorting bitAssets to fund out the marketing campaign(s). It is originally described here [link], but in general any marketing that grows the value of BTS).
The fund will hugely benefit from mass support and DAC wise marketing campaigns needing funding. Until such efforts are found - it will donate the vast majority of its profits to the available marketing projects as of the time of the distribution)
[The fund will start by not issuing any shares and will only use my personal funds as a proof of concept. It will proceed as by issuing user issued assets for donation purposes, no expectation attached]Trading bots
I have some ideas. Details might be coming, if the above goes at least semi-smoothly. Let just say that the Fast Tight bitUSD Peg idea above is fair easily converted to code as the trading follows pretty firm rules. This is just the beginning of what I have in mind
[disclaimer] The above is just a general statement of my ideas. While I believe all of them to be highly profitable and beneficial, no actually return is promised or guaranteed in any way shape or form]
Thoughts ,comments, and ideas are highly appreciated!