Excited to see what you've created!
Essentially the $130,000 fundraiser-loan allows the community to "buy" an MIT license. Do I understand correctly?
Assuming BTS stays around 1 cent, 4 delegates would make $130k in 25 months.. what are the plans for your delegates at that point?
You say hard-coded delegates.. users will still be able to unvote, right?
Exactly roadscape! After talking to many potential stakeholders it seems that an MIT license would do the most good, but we need to cover our costs so far. We've been investing most of our company's margin into Moonstone so far.
We hope that with the introduction of a much more user friendly (and modular) wallet, BitShares might increase in market cap pretty quickly. After all, nobody I know with large BTS holdings has used the current wallet due to several issues. Potentially new users are also put off by the current wallet issues. Moonstone is a light wallet, so no blockchain syncing needed.
The hard-coded delegates won't be able to be unvoted on the wallet until our goal is reached. However, anybody could fork the wallet and put it out there without the hard-coded delegates. We believe though that due to our added value such as identity verification for external exchanges, as well as encrypted storage of config and wallet files users would prefer our official version.
Nice fundraising ideas with the ious .. as roadscape mentioned .. what will happend after ious are bought back ... or .. what id the hardcoded delegates wont make it into the top 101?
Very good question. Once the UIAs are bought back we intend to make the delegate vote opt-out. Any further delegate income will be subject to normal delegate voting.
The hardcoded delegates not making it into the list is a risk, but also an opportunity for the donors. The way we look at this is that the donors would start promoting the wallet and our delegates based on rational self interest. Very much the way Bitshares people promote Bitshares itself. If the delegates don;t make it we will also announce a max buy-back period for the UIA, probably 50 Months or so.