- Lottery players as a 'general' demographic are instant gratification junkies so the avg. one won't donate.
That is a good point. Which is precisely why increasing the value proposition while coupling it with the marketing could be a winner. Now mind you...the funds would be donated not necessarily by lotto players, but instead by communities and big boss hogs with substantial holdings. Why? Because it serves as advertising for all of them too...and in a way that makes it easier for lazy users to access without having to go to multiple faucets in order to get a stake. This would become one of the central DAC hubs for people who want to play and get a chance of winning a nice satchel of "consolation coins".
- It looks like everybody wins a lot with that model but I suspect only one coin will and it may not even be the coin that wins 20%. (By example LottoShares gave 10% to PTS and 10% to MMC which seemed fair and was probably coming from a fair place, but because MMC is only a $70k CAP if you like the LottoShares DAC you would have done better buying MMC to gain access to it. PTS would have lost by supporting and promoting it before the snapshot. Similarly in your model, whichever coin
gets the biggest % relative to their market CAP is the one that would support your diamond system I 'think', other coins may lose by supporting/promoting it.)
Good point, that could potentially be fixed by allowing them to "rollover" past donations into other DACs, meaning that 5th place in the lotto DAC could accrue donations over multiple DACs, and at the snapshot of each DAC, the top winners are reflected/honored in genesis block. 5th place in the last DAC might be 4th or 3rd in the next. At least thats my take.
- Lottery players want the coin with the biggest jackpots, so they will play with the highest CAP/Jackpot coin, a lotto coin that kept most of the shares for a strong supportive community would have a better starting CAP than one that was giving away too much free equity imo.
rationale noted. As far as betting for the coin with the higher market cap---betting will carry a reward equal to the risk (a higher mkt cap coin is like a higher denominated chip in a real world casino--say $500 chip as opposed to betting at a lower stakes $10 table)
As for equity I would suggest they are not giving it away for free: indeed, they are receiving a fair, easy and fun means of distributing (and advertising) their token(s) in a way that is similar to mining, but requires only that someone has
A skill and the willingness to use that skill to earn cash (which can then be turned into new "mining" chances). In return for the investment/donation, most of which are burned, they receive a stake in bitshares diamond gaming version of their tokens-called chips-constantly advertising their coin (CONSTANT advertising is effective advertising) as well as bitshares diamonds (diamondshares?). Their coins have also now been honored by invictus in a way that only bitcoin/pts was previously honored (more good PR for both sides). If we are talking about fairness, it doesn't get better imho. Maybe im wrong...
- In general if you're starting a crypto-currency the idea of fairness is very important, but as we move into DAC's & businesses it's going to be mainly about just having enough initial distribution to avoid manipulation and control. (Shareholders want profit and a coin that spends it's equity on development, marketing, customer service etc. will be a better business than one giving too much of it's equity away imo.)
Along with donating equity, they are also contributing to the capital needed to make bitshares diamond gaming a high echelon, polished experience (development). This high end experience will be associated with all tokens that helped fund development, and they gain from the buzz of being coupled with bitshares (Marketing). Invictus also gains a great deal by getting another opportunity to teach a broader crypto community about snapshots (customer education/service).
Also, it can be thought of as an investment in a project that is beginning to gain traction even with some of its most staunch nay sayers. Most coins have to pay bounties and do a great deal of coordination just to get a faucet up, running and stocked. A second barrier is that it is very unlikely a user will go to a faucet for .5 PPC, but if he has a chance to potentially win a 500PPC, 789NMC, etc... secondary reward from playing slots with diamonds, it is more likely he/she will show up (and play with diamondshares) It is also more likely that advertising people who win big and in a way that is much fairer than bitcoin will bring more users (that is wanted, right?). Plus storing all your coins in a bitshares wallet also helps protect the average user because Dan and the team worked hard to provide security best practices by default. So now you have a one stop shop where users can go to play and also diversify their portfolio of "altcoins".
However that's why I like BM's 10/10 80% released via delegates model or even a 25/25 50% via delegates model, because shareholders can see which ideas work best and move towards doing more of that for a lot of these coins.
I like BMs thoughts on this too, but I dont see how it is going to bring in allies from the altcoin world. If anythig I see wars over DPOS VS POW. And bitcoin has whales and much more funding than invictus...not sire if it is a battle worth fighting alone. Charles is right when he says ally with strength...how better to than to have a competition that awards the strongest bitcoin competitors?
Edit: Also if you were targeting lotto players and gamblers, we're close to the point where crypto-currency is becoming accessible enough that rather than targetting the sub-demographic of gamblers within alt-coin communities, you'd probably do better awarding it to members of gambling/lottery sites & forums.
Agreed here. The one thin that realky stands out about this DAC, however, is its ability to literally serve invictus as a means of creating buzz and demamd for stake in upcoming projects. As for bringing in other gambling site members--any people using standard online gambling would be very interested in significantly increasing their profits...if only they learn a little about crypto. Of course, then again...the coins those newbies will see and grow to trust early on will likely be the coins that have their own chips. If I am a holder of any of the winning coins, I am happy to know that new users of this service will see my coin as trustworthy just like bitcoin.
Also, domt forget...many potential developers come from tjese higher market cap communities...so interestimg them and including their coins will likely serve as a talent recruitment tool that could very likely turn I to new Dacs developed by altcoin devs, but still honoring pts/ags.
I also assume AGS/PTS gets a starting stake in that coin. So any other community would ask why would we donate money to help build a coin you are getting for free?
Because they are getting a stake in DiamondShares along with PTS/AGS, and playing with Diamondshares rewards users with a diversified number of active coins.