Hello everyone. I'm sorry I had to take a break yesterday. I've been going 100mph the last couple of days to put this thing together and get involved with the community. I'm back though now so lets get down to business
I like your videos and I particularly like your on screen presenting style, from the other video of you I have seen. Our community needs more people with your enthusiasm and creativity. I would vote for you as a delegate just to have you working full time on the BitShares branded videos btw.
Let's get down to some questions:
Can you give us a full history of your project? It looks like a lot of this content was created for previous pitches elsewhere. What worked, what didn't work etc in the past? How have you come to where you are now etc?
Do you actually have any of the technical aspects worked out yet, or is this more of a vision of what could be? What happens if some of the things you have envisaged are just not possible? I would highly recommend working these details out in a white paper asap if not done already. I fear you have mainly approached this project from the content creation side and not the technical side.
Some thoughts I have had previously in regards to creating my own video DAC that are relevant to this project are: Where will the content be stored, how will it be accessed, how much will this storage cost and how will these costs be handled by the DAC? Is data stored on a centralized or decentralized solution? What about data redundancy? What cut does the DAC take of the purchases? How will the cost of an existing CMS be managed or will a brand new CMS solution need be designed and built? Can anybody upload anything? If so, how will the legal side be handled such as DMCA take downs etc? If not, how will you decide what content is to go on the platform, who decides, how are they paid? Is playout limited to web streaming only?
Also, do you have a team assembled or in mind already? How many people do you think this would take to make? What sort of timescales etc? This is a very ambitious project!
Thanks Ed I appreciate the constructive criticism and the questions. They help move us forward. It would take a book to give a full history of what has transpired over the last 5 years with this project idea. It most certainly did not start out as what is shown today and took a million iterations. The content was created for the Sollywood TV/Sollars idea similar to what Ethereum did for their idea. My primary background is not programming so I had no idea how it would be built I just knew the business model was there and if it could be built it would be awesome.
Unfortunately I spent most of my time pitching to the wrong individuals (VC / Angel Investors). I should have been here and I probably should have done a crowd-sale or kickstarter much earlier. But no use in crying over spilled milk. I dropped the ball on that due to misplaced priorities (computer science degree). But now I'm focused and reworking it now that I've found a product/community fit
There is no tech involved at this point besides the BitShares proto-chain as a starting point. This is the vision of what could be. The business model video gives a very doable starting point. And it would be more realistic to start with the payment system portion, sign in login, UIA etc similar to ChangeTip than to go all out and start building a YouTube.
Anything is possible you just need the team to do it. So I plan to sell the vision until we have the team. As the immediate action chapter
suggests and DataSecurityNode pointed out I will continue to make consistent videos for BitShares and BitShares Video DAC until our team is assembled. I will report as described there.
If Ethereum can start with 2 guys (who didn't know what they were talking about), a 10 minute video and a white paper that is completely irrelevant today. I think I can sell Sollywood TV and Sollars and Sense powered by BitShares and gain a team to actually do it.
BitShares started in a similar way also. A guy who didn't know what he was talking about and now he turned out to be right. In the same way Ethereum is turning out to be right too but that's only because now they have a team and not just the 19 year old wonder kid (who I love by the way
). But never forget how it started. No one builds anything on their own. Just doesn't work that way. Its a growing process and I've come to realize that.
The thing that counts is the idea is rock solid and profitable.
I do not have a team assembled in mind but I believe a crowd-funding campaign (similar to BitShares Music/Ethereum hybrid) could get this project the funds to assemble something in the beginning. At the very least a 100% delegate would be monumental to my content creation at this point. There is angel List
a bunch of places to recruit from and I do not plan to poach core devs of BitShares. But the crowd-fund / Share-dropping / child DAC discussed in this thread by arhag could be very useful to us.
I'll do your questions at the bottom separately.
Are you open to rebranding discussions?
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That's interesting... I've had this conversation before
If you are directing that at the Sollars and Sense/Sollywood TV brand fair enough. If you have an argument that could have convinced Walt Disney, Sam Walton, John Deere, Harvey Weinstein, Amber Crombie and Fitch, Air Jordan, Calvin Klein, Henry Ford, Jacuzzi, Ferruccio Lamborghini, and a million other successful brands derived from their real life owners to change then I actually want to hear it.
Or do you mean rebranding of "BitShares Video DAC"? Either way lets talk.
My first reaction is that this is a very ambitious project and realistically far more than one man can accomplish working alone - even in the beginning.
You will need a team. How are you going to pay them, even minimally, so that they can cover rent and food? In other words, let's see a preliminary budget and estimates of how much money you will need at each stage of the project. Not just for labor, but for whatever you are going to need as the project develops (ie. such things as office space, equipment, websites, advertising, servers, etc.) If you run out of funds before you get a cash flow to cover ongoing expenses it could turn out to be another broken dream.
Have you got an inventory of what skills you are going to require, besides your own? For instance, you are going to need a dev or devs to do coding for parts of your project, yes? I hope you are not planning on poaching any of our core devs? You are going to need to find and perhaps partner with such talent.
Please don't let me discourage you. I just want to see financial plans fleshed out much as Edilliam wants to see the technical plans fleshed out. It is an awesome vision, but needs the discipline of a business plan of the quality you would take to hard-hearted venture capitalists. This will help you immensely.
Thanks onceuponatime. I need this constructive criticism. You are exactly right. I need more than a team. I need a community and community endorsement. This will be no small feat. And that is why I brought it to the BitShares community (openly). It could use a project of this sort for its technologies and bolstering up its unique image and I could use the backing and crowd-funding/100% Delegate to begin this project.
Like DataSecurityNode suggested I'll be producing videos for BitShares to promote bitshares while I work on the funding for this new Bitshares Video DAC project. I will not just be sitting on my ass, promise
Some people want to sit on delegate pay and pray for others to produce their rocket. I actually want to build a rocket to go to the moon. Yes I will need a team but as I wrote to Ed that team will not be poached from Core Devs of BitShares. What is mostly needed from BitShares is funding. The utilization of stored funds to a project which can increase its value and market cap. That is how we grow. That is this project. That is why I plan to do the crowd-funding in addition to the delegate. I believe if more people knew about this project they would be willing to fund it in the same way we funded BitShares Music.
Its funny that you mentioned that budget onceuponatime
You made me remember I've got one with all if not 95% of what you requested. Since you mentioned it I want to discuss it with you first before I present it to the larger community. Its an excel document. I'll PM you and Ed.
You do realise that registering a delegate has a big fee, and that refunds aren't possible?
My main concern here, is that you're underestimating the costs and resources needed for a Video DAC.
Hello graffenwalder. Thank you for your concern. It shows that you want individuals to be realistic about expectations with receiving a 100% delegates from the community. I appreciate that. I actually have quite a lot of support for my delegate bid at this time which I believe will continue to grow as the months unfold and this new project gets out.
I'm not going anywhere. BitShares is stuck with me and we are going to get this damn larger market cap with its real value proposition. Not the one it thinks it needs to be now.
In my opinion its simple BitShares can either try and do what Bitcoin is doing or it can believe in itself and its value proposition and gain a larger market cap. The history of technology progress should show you can't have both.
But may be I'm wrong and this will be a miracle.
Thanks for you proposal!
As you plan to make sollars and Sense a UIA do you know what legal requirements you have to fulfill since you would have to hold customer funds as collateral (the money (USD, BTC, BTS) customers give you to buy Sollars and Sense)?
Did I understand this correctly. You want to start with a UIA as a currency for your platform (for purchasing video content, correct?) - the Platform at this stage would be hosted on a central server. The long term plan though is to make the platform into a (decentralized) DAC, correct? And so Sollars and Sense might not be a UIA anymore but a market pegged asset? How would this DAC work?
No I do not know the exact details but I cannot imagine it is any different than Flattr, ChangeTip, or any game company like MMOGA or gift cards that give individuals some sort of virtual asset for cash.
I simply want to start in a way that is beneficial to people who actually want to see this project move forward and help BitShares. I'm not Super Man I'm only Solo-Man
Yes the platform will be built for centralization as there is no need to decentralize at this point. Decentralization is not always a feature in every instance some times its a pain and overkill. Sollywood TV/Sollars is not trying to disrupt the world and all that other jazz. BUT the tech that powers it will all be open-sourced and freely available for anyone to use.
So eventually if people believe a decentralized version is necessary or it turns out from analyzing the business model in action that decentralization is a better model for some features like BitTorrent Live stream. Then we can go that route.
But in the short-term decentralization is a hindrance to building a unique Sollywood content experience.
Decentralization comes in the open source component not in the starting architecture. But that may change in the future. So yes in a way you are correct. The long term plan is to make BitShares Video DAC into a decentralized DAC.
I do not know what Sollars will be in the future. But now I just don't see it as a market-pegged asset in the bitUSD $ense and never really have. I mean it could obviously work that way but then it would serve a different purpose. Some may disagree with that but that again is why the project is open-sourced so if people have other ideas they can implement them.
Sollars will be a centralized currency artificially market-pegged to the Dollar.