Why are all bounties issued in Pts?
I have already stated this in one of discussions but it has gone without gaining much of attention.
I think this situation with bounties is no winning. That is, because some compromises were made from very beginning and now we are dealing with its consequences.
One of compromise is that all bounties are issued in Pts. First consequence is that developing participants are limited to these community members only. This is small community and very small portion seams interested and/or able to participate in development work. Second consequence is that same people are after all the bounties. I am not concern about them winning all rewords, but the funds being wasted on modest results with possibly big time delays. If the intention was for community to do all development work then it shouldn’t be raising any funds and rewording any bounties.
My understanding of the Angelshere funds is that this is money raised to be spending in best community interest not on its best skilled and most active parts.
What I am suggesting is for those bounties and/or sales contracts, to find the way to all thinkable labor markets. It doesn’t matter if you need to pay in Usd , BTC or PTS. After all, there are existing exchanges that could easily provide such kind of flexibility. And yes I know it would disturb the market of Pts but it would only be temporarily, before the market reaches its equilibrium. So I suggest more of strategic thinking instead of tactic one. More so I believe it would bring much benefit by providing broader attention and significant publicity.
My intention was to point out to above issues and hear other opinions related to above matter.
Everything we do is a balancing act. We must build the community that will build the ecosystem that will support the DACs that will make everyone's investments, including our own, pay off over time. To that end, what is best for our investors is finding the right mix of the following factors:
- We want to get top quality work done fast.
- Bounties were something we could put out there very quickly to get things moving.
- We will be adding Requests for Proposals (RFPs) to our methodology. These are more formal and take more time to release and evaluate.
- We want to involve the community and give them ownership in every way possible.
- We want to stimulate the formation of developers (individuals, team leaders and partners and competitors!) to support the ecosystem by setting aside work to get them started.
- We want to attract top developers from outside the community. Bounty availability will be a big message to all outsiders we meet in Miami - a way to get them to be insiders.
- The word needs to get out that we have grass-roots funding from a community that believes in what we are doing. Funding enough to guarantee a new-hire a secure job - secure enough to leave their current job. Miami is the first opportunity to communicate that message face to face to a high concentration of such people. Brian is pulling out all the stops to make that happen.
- We want to prefer those who believe in the cause. If you are willing to work for PTS, you understand their true value.
- Paying in PTS is preferable to selling the PTS to pay in something else. We don't need any artificial selling pressure in the market.
- People who believe in PTS and get paid in PTS often reinvest them in AGS, allowing them to be used yet again to build up the ecosystem for everybody.
- We want to try-before-buy. Bounties are a way to see what people can do. Consistent performers become job candidates.
- When a job is urgent, mission critical, or no sufficient solution is offered internally, then we go outside and hire "professionals." That's where the new bitShares logo came from.
- When we find a top performer who is willing we will hire them. Until then, we use bounties as a way to find top performers.
The optimum mix of all these factors is something we have to tune as we go. You can see examples of many of them during the two weeks
since AGS funding started to become available. It will take some time to find the right players, get them spun up, and have them start making an impact. Everything we do is calculated to maximize value for all investors. Sometimes one facet must sub-optimal so that the sum of all facets will yield maximum shareholder value. The ultimate growth of the value of PTS is a function of all these things, none of which should be neglected in the name of some short-sighted near-term benefit.
Remember, there is a Darwinian survival-of-the-fittest principle for investors and supporters as well -- not just for those who are engaging in a life-or-death struggle down in the arena. Some will fall away and lose out. Those who are strong and wise and patient will survive and thrive.