What a truly epic thread... So many good points it is making my head spin. I think I can make killer videos, just about this discussion.
Anyway, My 2 cents.
1. While dilution has its own concerns, I think the counter opinions trump it.
a) We need to go hard or go home, or someone else will come and blow our space up. We don't want to be 2nd best in the space that we (I use that term generously... more like you) invented. My experience is it is common for technologists to think great products sell themselves. They never do in reality. Money for marketing needs to come from somewhere. Be it dilution, dev funds, or other. So you need to have a strategy for it no matter what the proposed marketing plan is... Be it referral program or other. So what is BTSX's strategy for funding marketing? You have to have one or you are toast to someone who does.
b) The dilution of shares to buy assets(people, customers, employees, marketing) is perfectly reasonable business behavior. Moving forward Arhags point about a constitutional amendment process (AKA hard fork or not) should be how it is handled. Put it on the endless list of things for Devs to do.
2. We have the opportunity to do some amazing ground breaking stuff here. Not necessarily now, but its fun to think about what is possible. Just for shits and giggles imagine doing a proper acquisition. Imagine buying a company like Bitpay or coinbase through share dilution. Possibilities are amazing.
3. I think a bitusd drop (think referral program)is a great way to get bitUSD's in peoples hands but of course the devil is in the detail. You want the right people for the least cost.
4.I love referral programs because they are the least risky form of marketing. You only pay once you have a result. The key is to clearly identify your result so you are happy when you pay. I think Stan's suggestion of being a bank first and later a currency is profound. The goal of the referral is to get people to buy and hold bitUSD.
There seems to be 2 main attractions to holding bitUSD:
A)There is talk of bitUSD holders earning interest, but I must confess I do not understand this process or how this interest rate is determined. Can someone please explain this so I get my head around it.
B) Your money is collateralize 200%. This is huge. I know there is a huge market for this. I know one wesbite.
www.sovereignman.com that has over 100,000 free subscribers, and 5,000 paid subscribers to subscribe to find out things like where is the safest jurisdiction to store your money. At present his best advice is to get an account in a Singapore Bank because they are capitalized at 25%. And because you can hold 3 assets: gold Singapore Dollars and USD. They still pay near zero interest, and you have to physically fly there to open an account, and they charge fees (min $5/month. Plus you have to declare it on your FBAR form and everything else. If the bitUSD interest rate is close to 5%p.a. then this is by far the best coolest bank in the world.
5. And finally MethodX's suggestion of integrating with OB was great. Although this seemingly contradicts my above praise of "Be a bank first" This union would be perfect. OB would love to promote it self with: Sign up and fund your OB account with $100 bitUSD and we will give you $5bitUSD now. This is exactly the closed crypto world where bitUSD will flourish.
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