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Quote from: mdw on May 28, 2014, 08:50:48 amHi all, noobie noob here. Figured I'd offer my two cents instead of just lurking.Welcome to the community!QuoteFirst of all take this with 84,000 grains of salt, as the so-called Namecoin community is really a collection of unrelated groups. I'm sure that my opinions are at odds with many who also have an interest in Namecoin and other nextgen DNS projects.An airdrop is not going to be of much interest to me, except for the temporary interest generated by the prospect for making a quick buck. Even if there's some profit to be made, I'm hanging onto my NMC. Like many others, I do not hold a bunch of NMC as an investment in the currency, but rather to use in future. In the longer term I'm swayed by the vision, features, and community. Kudos again toast and others. I have loads of questions, but I think more reading is required first.I can understand your decisions, however, I currently see absolutly no development in namecoin (i am not speaking about price, but about tech development)Further, no marketing, no intentions to introduce namecoin to other players, no lobby, just sitting there. That's my feeling, please tell me if I am mistaken.
Hi all, noobie noob here. Figured I'd offer my two cents instead of just lurking.
First of all take this with 84,000 grains of salt, as the so-called Namecoin community is really a collection of unrelated groups. I'm sure that my opinions are at odds with many who also have an interest in Namecoin and other nextgen DNS projects.An airdrop is not going to be of much interest to me, except for the temporary interest generated by the prospect for making a quick buck. Even if there's some profit to be made, I'm hanging onto my NMC. Like many others, I do not hold a bunch of NMC as an investment in the currency, but rather to use in future. In the longer term I'm swayed by the vision, features, and community. Kudos again toast and others. I have loads of questions, but I think more reading is required first.
Any sharedrop that takes place should not be instantly received or redeemable.If done, I would like to see the drop amounts to each address be staggered over a number of blocks to remove the possibility of a market dump as well as building interest over time - maybe even allowing a higher % redeemable if the address is kept in a live wallet or Keyhotee - I would also prefer that redemption should require downloading the DNS client as well as Keyhotee with some kind of Bitshares DNS informational click-thru (if possible).
many people who are not interested in this project will hold coins. I would prefer the give them to people who has an interest.
Finally, I am not sure I understand why 10% should be kept from the developers.This is too technical for me so my reasoning here could be completely wrong but I would like to know what the 10% kept by the devs would help for. This might cause comments like a premined coin where the devs are keeping 10% which they may dump in the market whenever the DAC is profitable...As far as I understand once the code is released the DAC starts working. If someone wants to improve the code or make something else he could do so and allocate shares to whichever community he likes. It is up to us believing in .p2p success not to allow this, by upgrading this code and promote .p2p to everyone else.
I am agreeing with the above. The airdrop may just cause a sell-off of the 20% reducing the price for AGS/PTS holders. Or Namecoin users may take an interest when it appreciates. So they would be getting some free utility to sell or keep (but theres no add of early adopters).There also may be a lot of namecoin on exchanges (think mt.gox) so the exchanges will be collecting a good portion of BitsharesDNS and they will most likely sell it (as they are not in the business of speculating).We could say we will educate the Namecoin market about the snapshot. But if we spending time/money educating the market about bitsharesDNS, why still give away free shares.I dont think giving away 20% will produce added value of more than 20% making this a bad investment. The dev funding is coming from PTS/AGS holders and dev allocated bitsharesDNS future shares. The people paying for the DAC, giving up their time and speculating on the future of the DAC industry should be rewarded.I see the point of doing a Namecoin airdrop, however there are disadvantages and we would need to work out the value added which needs to be slightly greater than the % given away.
If you don't already own NMC it will still be cheaper to buy AGS or PTS.If you DO already own NMC then we are betting that giving you free stuff will cause you to educate yourself and then hold your nameshares.
Quote from: Avant on April 15, 2014, 02:34:08 pmI only see this make namecoin more valuable, and convince the namecoin owner hold namecoin more tightly.If you don't already own NMC it will still be cheaper to buy AGS or PTS.If you DO already own NMC then we are betting that giving you free stuff will cause you to educate yourself and then hold your nameshares.
I only see this make namecoin more valuable, and convince the namecoin owner hold namecoin more tightly.
Quote from: toast on April 11, 2014, 05:54:20 pmQuote from: donkeypong on April 11, 2014, 05:53:15 pmThat would be cool, of course setting a time limit (1 year?) on the drop-coins.There is automatic 1 year 5% penalty... so a small source of dividends for a long timeI think it should be a little more drastic. The airdrop is designed to get more people, who are more likely willing to participate in this, interested in this. If, in a few years, it becomes big and some Namecoin holder realises that and then breaks out the wallet to claim some free money - well thats not our target. We want people to be interested to make it a success, not award it to freeloaders who become bothered after it is a success.
Quote from: donkeypong on April 11, 2014, 05:53:15 pmThat would be cool, of course setting a time limit (1 year?) on the drop-coins.There is automatic 1 year 5% penalty... so a small source of dividends for a long time
That would be cool, of course setting a time limit (1 year?) on the drop-coins.
Everybody who has ever eaten a “free sample” at the grocery store obviously knows the power of such primal marketing. But Delulo has a monumental idea here to modernize our free sample distribution method (create a half-life).Applying a half-life here will assure that those less interested in their “free gift or airdrop” will be less likely to manipulate the price of BitsharesDNS later (when the market cap gets huge).To the media, it will look as if our airdrop is more generous than it really is because we say that we are giving away 5-10% of BitDNS, but in reality, maybe only 3-6% actually claim their “free gift.” And by the time a couple weeks pass, then it will no longer be a news story, so why should we still want to be giving away “free promotional coins.” And who wants to be answering emails about people who are pissed off that they can’t get their “free coins!” You need to cap the timeframe if you want to simplify the technical hassle of the distribution process as well (that is another legitimate excuse to tell the media).No media person can spin this negative because the people who missed out on the offer can just go purchase these BitDNS shares on an exchange if they really want them, and the fact that that they did not redeem them within the 2 week window shows any reader that they were not really that interested after all. So there can be no negative publicity for doing this, plus it will save us from giving away more of a stake than we need to.Definitely have maximum caps at addresses over 100 BTC/NMC etc. If the Winklevoss kids want to maximize their free gift, then let them take the time to get out of their Corvettes and move their bitcoins to multiple wallets, then they can take full advantage of the offer. Otherwise, it’s a “rich get richer” scenario that we legitimately can say that we are purposefully avoiding unless the media wants to vilify Robin Hood (us). Just realize that the media will not give us negative press for this lest they look like they are supporting the establishment. Speaking of media softballs:Here’s another idea, design your airdrop plan in a way that will automatically create softball media questions for you. For example, I would give 3% to Namecoin holders, and 2% to Bitcoin holders. This will beg questions from the media such as:Why are you giving less to Bitcoin holders than Namecoin holders? (that will give you the opportunity to teach the media about the differences between Namecoin vs Bitcoin vs BitsharesDNS).Basically you can construct your media interview based on your method of airdrop construction. So that all you will get is softballs without having to defend any actions perceived as "selfish."Just remember the big overall “airdrop” purpose picture:The goal or function of the airdrop is to get media buzz and pique the interest of a target market (get a few coins into the hands of those who are actually using them). Our goal here is not to create fair distribution but to make it more difficult for a BootlegBitsharesDNS clone to snipe our target audience after we release our application. But we don’t have to tell the media that now do we? To them it’s all charity, and efficient target marketing (no matter how little money we choose to spend on it).This airdrop serves 2 purposes:1. The media can’t spin a negative story no matter how little of a stake we are giving away (because a 1% BitsharesDNS stake could be worth millions of dollars, but you won’t know until the market opens) because we are being more than generous by giving away free samples. And after the market opens, if it looks like the BitsharesDNS shares are not worth much money (the media won't even be interested in a story at that point), then it will discourage copycat BootlegBitsharesDNS airdroppers because it won’t look like they can make much money in our space. But if the 1% stake that we gave away is indeed worth a million dollars (the media will still be knocking at your door), the copycat airdroppers will be late to the party; and by airdropping any clones onto our target audience (who will already have a significant stake in the original BitsharesDNS application) they will only be spreading FUD because why would legitimate players be interested in a illegitimate game. In other words:2. We cannot get scooped by the first clone who chooses to fork BitsharesDNS and release a large percentage of BootlegBitsharesDNS onto our target demographic before we can have the chance to get them interested (because we already piqued their interest). An airdrop (free samples) is essential marketing that is designed to circumvent the copy cat “redistribution” business model. Because even though the copy cat redistributer will be indeed giving away a whole lot more BootlegBitsharesDNS, the end users will already have “legitimate” BitsharesDNS in their possession that is already worth some actual amount of $money, where the redistributed BootlegBitsharesDNS have no value (in the absence of an actual market), and is perceived as such until a market for it is created. Therefore, that fact that we are releasing BitsharesDNS in small batches does not change the fact that we are making the adoption of BootlegBitsharesDNS exponentially more difficult because: who will be interested in a second market for BootlegBitDNS when they already have a stake in the first market (legitimate) BitDNS that has more current value.
I like the idea of honoring namecoin holders with a small percent and adding a half life to their position. I think that adding a half-life to all genesis block positions to encourage people to download the wallet and start securing the network / finding bugs. Perhaps something as simple as losing 10% per month if you do not claim your funds in the genesis block.If you wait a while you still get something, but eventually the free give aways end.I would then recommend that you give some to everyone with BTC and NMC.... this process works better if you have an easy to use wallet on launch and can use the news to generate solid first impression. Perhaps a better alternative is to give them 10% but not let them sell for 6 months. Then they will see it grow and be less likely to sell.
Ah, the bytemaster seal of approval.All opposed??
Quote from: toast on April 11, 2014, 05:51:28 pmMost recently we're thining 45/45/10 PTS/AGS/Devs. So 35/35/20/10?That sounds like way to much to me for Namecoin given that this just serves to raise interest with Namecoiners. Their interest would be raised similarly with 5% or 1%. Also this might then seem as DNS shares are not worth much so they can be given away easily and as if we are desperate for Namecoin holders...
Most recently we're thining 45/45/10 PTS/AGS/Devs. So 35/35/20/10?