BitShares Forum
Main => Stakeholder Proposals => Topic started by: fav on March 03, 2015, 11:00:54 am
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Please vote for bts:del.fav Thread: https://bitsharestalk.org/index.php?topic=15094
Funded: 60 / 60k
I think it would be a nice approach to get more funds and support more projects with a delegate than with my marketing initiative alone.
Here's my proposal
Delegate Payment Split:
~5% maintenance (need help on this one)
15% to my own marketing initiative ( https://bitsharestalk.org/index.php?topic=14554.0 )
10% converted to BitUSD
70% to Online and Offline marketing/initiatives/sponsorships/meetings
I want this fund to be as open and broad as possible.
Everyone can request funds, and will receive BitShares/BitUSD after I verified their cause.
Also, there is a good chance I will be able to convince some ad-networks to check BitUSD/BitShares if I frequent their services. They usually follow the money :)
New: started a 10 BTS Giveaway to new users, which I would sustain with the payment: https://bitsharestalk.org/index.php?topic=14780.0
Crowdfund BTS: fav-community
(http://i.imgur.com/vOsYLJO.png)
Fund-Raise Period: 30 days
Please do not send less than 1000 BTS.
Crowdfunders will be paid back 100% of their investment IF the funding is successful AND our delegate is voted in.
In case we do not reach 60k BTS within 30 days, every investor will get back their investment.
Note, this is to test waters with the community to see if there is interest in this kind of work and to increase the chance to get voted in.
Investors: favdesu (10000 BTS), cass (10000 BTS), infovortice2013 (10000 BTS), btswolf (20000 BTS), chryspano (10000 BTS)
Status Update Channels: This Thread - Twitter: @btsfav - bitmessage broadcast: BM-NBeDCo6xZScRxMxSW1ohgfE1TCkPC1bk
Looking forward to your input and ideas!
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Welcome back, favdesu. Nice to see some old names returning.
This is the sort of campaign that can only work with a trusted member of the community. Your escrow services in the past to facilitate PTS sales has demonstrated your integrity in handling funds.
I'll be throwing in for the community delegate.
+5%
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Welcome back, favdesu. Nice to see some old names returning.
This is the sort of campaign that can only work with a trusted member of the community. Your escrow services in the past to facilitate PTS sales has demonstrated your integrity in handling funds.
I'll be throwing in for the community delegate.
+5%
thanks a lot for your support! +5%
I feel like now is the best time to help bts grow, I'm ready to dedicate all my free time to it :)
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PM!
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I'll fund it with 50k BTS ...!
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
oh just noticed, if delegate won't get voted in ... i will loss my funds ... mh...
I don't have a problem with prefund a delegate but i don't take the risk for the delegate!
So sorry, i'll fund it then with 10k BTS ... the amount i can get over…! Sry for this...
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
oh just noticed, if delegate won't get voted in ... i will loss my funds ... mh...
I don't have a problem with prefund a delegate but i don't take the risk for the delegate!
So sorry, i'll fund it then with 10k BTS ... the amount i can get over…! Sry for this...
alright, thanks anyways! 40k left :)
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
oh just noticed, if delegate won't get voted in ... i will loss my funds ... mh...
I don't have a problem with prefund a delegate but i don't take the risk for the delegate!
So sorry, i'll fund it then with 10k BTS ... the amount i can get over…! Sry for this...
alright, thanks anyways! 40k left :)
sent !
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
oh just noticed, if delegate won't get voted in ... i will loss my funds ... mh...
I don't have a problem with prefund a delegate but i don't take the risk for the delegate!
So sorry, i'll fund it then with 10k BTS ... the amount i can get over…! Sry for this...
alright, thanks anyways! 40k left :)
sent !
note that this was my main idea. to spread the risk and involve the community = more guaranteed votes :)
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I'll fund it with 50k BTS ...!
+5% +5% +5% thanks a lot for your support!
oh just noticed, if delegate won't get voted in ... i will loss my funds ... mh...
I don't have a problem with prefund a delegate but i don't take the risk for the delegate!
So sorry, i'll fund it then with 10k BTS ... the amount i can get over…! Sry for this...
alright, thanks anyways! 40k left :)
sent !
note that this was my main idea. to spread the risk and involve the community = more guaranteed votes :)
yup got it :)
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I think the marketing initiative behind this delegate is good, I think your intentions are pure, and I also think that it is reasonable that you want to spread the risk of registering a paid delegate. However, the bonus is setting a bad precedent. Giving a bonus is essentially equivalent to buying votes, directly with the shareholder subsidies that these purchased votes bring. While this particular bonus (+10%) is not very much, what is stopping others from giving +100% bonus? Or more? The more incentive people have to "invest" into a delegate, the more people will do so, and the more guaranteed votes there will be.
This is a slippery slope that we do not want to ride down.
The risk of creating a delegate is on the shoulder of the creator, however the risk of electing a paid delegate is on the shoulders of 100% of the stakeholders. Offloading the creator's risk onto a small subset of the shareholders while simultaneously offering them a bonus reward for this risk creates an imbalance of incentives, and makes the shares of every shareholder who did not "invest" in a paid delegate who was elected this way redistributed to those who did "invest".
At first glance you might think, "well, if they are not elected, then the invested shares of every delegate investor are then redistributed to the rest of the shareholders!". This is true, however since delegate investors have incentive to vote in these bonus-giving delegates, as well as lobby for their election; they have "guaranteed votes".
Consider this post as an immune system reaction. Set a precedent and remove the bonus.
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I think the marketing initiative behind this delegate is good, I think your intentions are pure, and I also think that it is reasonable that you want to spread the risk of registering a paid delegate. However, the bonus is setting a bad precedent. Giving a bonus is essentially equivalent to buying votes, directly with the shareholder subsidies that these purchased votes bring. While this particular bonus (+10%) is not very much, what is stopping others from giving +100% bonus? Or more? The more incentive people have to "invest" into a delegate, the more people will do so, and the more guaranteed votes there will be.
This is a slippery slope that we do not want to ride down.
The risk of creating a delegate is on the shoulder of the creator, however the risk of electing a paid delegate is on the shoulders of 100% of the stakeholders. Offloading the creator's risk onto a small subset of the shareholders while simultaneously offering them a bonus reward for this risk creates an imbalance of incentives, and makes the shares of every shareholder who did not "invest" in a paid delegate who was elected this way redistributed to those who did "invest".
At first glance you might think, "well, if they are not elected, then the invested shares of every delegate investor are then redistributed to the rest of the shareholders!". This is true, however since delegate investors have incentive to vote in these bonus-giving delegates, as well as lobby for their election; they have "guaranteed votes".
Consider this post as an immune system reaction. Set a precedent and remove the bonus.
alright, no bonus!
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Thank you favdesu, you're doing the right thing :)
Once this is funded, you have my vote +5%
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started a 10 BTS Giveaway to new users, which I would sustain with the payment: https://bitsharestalk.org/index.php?topic=14780.0
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thanks to infovortice2013!
30000 / 60000 Funded now! :)
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Thanks to you, is great idea keep some delegates flowing over comunity ... sure will grow it. ;)
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can write some numbers of giveaways ect.. to win new users. i think is running good.
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I've sent you 20k.
11,111 BTS from my private account and 8,889 BTS from donations.btswolf (~100% of received donations for my recent lawyer expenses)
Initially I wanted to start my own delegate but now I spend so much time on the BTSwolf Project and social medias that I rather would like to apply on an existing Project fund like the fav-community delegate if possible.
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thanks to btswolf! 10k left :)
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10k sent
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10k sent
thank you! +5%