How does this work?The network effect. We’re all familiar with it. The internet, social media, and telephones are all networks at their core. As more members join the network, its value increases for all.
The same is true of COG. As COG’s numbers grow, its network becomes more valuable to advertisers. This revenue is then distributed in bitcoin to COG members. The more members in COG, the more revenue all members can potentially earn.
COG is a cooperative that provides members with the best applications and services in the Bitcoin marketplace. COG members receive free access to world class Bitcoin applications, revenue sharing, and exclusive discounts with partner merchants.
Learn how COG works & how to get involved.In the digital age, many notable web-based companies have generated billions of dollars in yearly revenue from advertisements alone. These companies are able to earn this revenue because they control enormous networks made up of millions of users like you and I. Users provide value by signing in millions of times a day, but until now haven’t seen a dime of the revenue that they have played an integral role in building. COG is changing that. Our business model is centered on giving back to the people that are responsible for our success: you, the users that make our network valuable.How does COG work?COG members are part owners in the cooperative. All members are entitled to & will receive a portion of COG’s revenue in bitcoin. How much bitcoin you receive is based on the number of COG Patronage Points you earn.
+5%
I like seeing things going in the next level. Not sure how we take it from here and what's need to be done but I like it
+5%
I like seeing things going in the next level. Not sure how we take it from here and what's need to be done but I like it
Couldn't this be set up and run by you as a delegate? It would need zero fees, and would be easiiy voted in for that reason.
+5%
I like seeing things going in the next level. Not sure how we take it from here and what's need to be done but I like it
Couldn't this be set up and run by you as a delegate? It would need zero fees, and would be easiiy voted in for that reason.
Please elaborate what exactly needs to be done and I will do it! Or were you referring to luckybit?
I thought so...Someone proposing me to be a delegate for something like that just didn't seem right..my skills are limited..lol..I'm not currently a delegate. Also I don't have the legal expertise to pull it off. We should at least elect someone who has gone to law school or who is a lawyer to set up the organization and that person would not be me.
I'm not sure I understand the proposal completely. My initial thought is I want to focus on the purity of what Bitshares is trying to achieve, and I don't like being bombarded involuntarily with advertising. If it were a feature I could turn on and off as I please, and I earned something when it was on, then I don't think I could have any complaints.
+5%
I like seeing things going in the next level. Not sure how we take it from here and what's need to be done but I like it
Couldn't this be set up and run by you as a delegate? It would need zero fees, and would be easiiy voted in for that reason.
Please elaborate what exactly needs to be done and I will do it! Or were you referring to luckybit?
With their shared ownership, cooperatives serve their members’ needs democratically. They offer each member-owner a vote in board elections and a say in the running of the business, thus establishing a greater degree of mutual responsibility and accountability than in investor-owned companies. Member-owners answer to one another rather than to outside investors, and that interrelationship tends to minimize fraudulent, deceptive and damaging behavior.https://en.wikipedia.org/wiki/Consumer_cooperative
Investor-owned firms, on the other hand, operate with built-in conflicts of interest as investors dictate the direction of the business and often sacrifice quality or ethical standards to guarantee higher returns. This happened recently on an unthinkable scale in finance and housing. Yet the investors in companies like AIG have escaped with a clean conscience, because they don’t feel any direct connection to the foreclosures on people’s homes that AIG’s actions wrought.
This wouldn’t–and didn’t–happen with cooperatives. Co-ops don’t have an inherent conflict between their investors and the customers they serve. Their owners are the people who use their services. This personal involvement makes gambling with their fate much less attractive. The only way an individual’s fortune will grow is if the cooperative grows; a loss for the cooperative is a loss for each individual. Co-op executives don’t have the incentive to pilfer their businesses that executives at investor-owned firms do.
Consumer cooperatives are enterprises owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members.[1] They operate within the market system, independently of the state, as a form of mutual aid, oriented toward service rather than pecuniary profit.[2] Consumers' cooperatives often take the form of retail outlets owned and operated by their consumers, such as food co-ops.[3] However, there are many types of consumers' cooperatives, operating in areas such as health care, insurance, housing, utilities and personal finance (including credit unions).http://www.differencebetween.net/language/words-language/difference-between-cooperatives-and-corporations/
In some countries, consumers' cooperatives are known as cooperative retail societies or retail co-ops, though they should not be confused with retailers' cooperatives, whose members are retailers rather than consumers.
Consumers' cooperatives may, in turn, form cooperative federations. These may come in the form of cooperative wholesale societies, through which consumers' cooperatives collectively purchase goods at wholesale prices and, in some cases, own factories. Alternatively, they may be members of cooperative unions.[4]
Summary:
1.A corporation exists as a legal entity where it can sue or get sued while a cooperative does not.
2.A corporation has limited liability while a cooperative does not.
3.A corporation must deliver returns on investments while this is not a must for a cooperative.
4.A corporation is run by a centralized management under a board while a cooperative is run by the members.
5.Shares of a corporation are transferable while those of a cooperative are not.
Read more: Difference Between Cooperatives and Corporations | Difference Between | Cooperatives vs Corporations http://www.differencebetween.net/language/words-language/difference-between-cooperatives-and-corporations/#ixzz3H0gBTIlX
Luckybit, thank you very much for all the below information.This is a good thing. It means less work for lawyers and easier to make an organization which has an international base.
This is my first feedback.
1. In European countries as well in the US the law is pretty much the same for the cooperatives. In my country a bit more archaic compared to the US, but pretty much the same rules apply.
2. Once BTS is fully run we will need to have a detailed description of the business, its purposes, procedures, detail of how new capital injections from external partners is treated with shareholders agreements etc etc..KYC and AML is not much of an issue as long as we take the necessary precautions and measures.I agree on this but I'm not a lawyer so I cannot say much more.
3. We would probably need a white paper to properly explain all the details at some point. This can be then presented to a lawyer who will do all the necessary and form the company.This part is something we can do with community involvement. If the community thinks the benefits of having a cooperative are worth it then let's step forward with a whitepaper.
4. Lets see who else will want to be a member and how many from the community are in favor to be part of the cooperative. I don't see much participation from others so I don't think there is any point in making a cooperative with 5-10 people.So far polls are in favor of it but a lot of people are confused as to why it would be needed or what it's purpose is. People don't understand what a cooperative could do or why it is needed.
Let me know if you think there is anything else I should ask my lawyers or if there is anything else I could do at this point to make this happen.Thanks for your feedback.
Yes fully agree with everything that you say. Obviously we need a white paper first.
i like the *patron* idea +5%