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Main => General Discussion => Topic started by: fuzzy on November 14, 2015, 07:54:36 pm

Title: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 14, 2015, 07:54:36 pm
ShareBits
UIA Crowd Donator Drive

I am pleased to approach the community today to outline a wonderful opportunity to donate to and own a stake in yet another foundational BitShares project: the BitShares Powered ShareBot and its associated token, the ShareBit. Beginning humbly on our own Bitsharestalk forums, enabling each community member to send and receive both bitAsset and UIA shares to one another, the bot and its bits are planned to expand into other social media platforms in various nooks and crannies on the internet.  This is just the beginning however. 
There are many steps/phases to what is planned to be constructed, but this is one of the foundational components necessary to construct them.  And you are here for the groundbreaking ceremony--how wonderful it will be to know you were part of history!
The power of the ShareBot makes it possible for real grassroots referral gathering by enabling our community to bring on referrals via tipping on social media and nearly anywhere else, including email lists and many others.  When gaining adoption, this UIA and the entire ecosystem around it will enable individual community members to gain cashflow income from transaction fees directed toward ShareBit holders.  For this Crowd-Donation Drive, we will be distributing 50k ShareBits (20% of total supply) to raise $9k in funds.  When this goal is reached, an additional 100k ShareBits (40% of total supply)will be distributed via sharedrop to Brownie and BTS holders.  Please read specifics below.

ShareBit Distribution Overview
Total Supply of ShareBits will be 250k (40% Founders, 40% Community, 20% Crowd Donations).  This will be split up as follows (see diagram 1.1): 

(http://i.imgur.com/C3hIhYG.jpg)


Founders (Seed Funders)
Founders were the initial individuals who put together their own funding to ensure the beginnings of the ShareBot could be shown to the community before asking all of you to participate in the funding of this project.  They felt it was important to take the risk to show you the value of the bot before asking others for donations.  Total Supply of ShareBits for Founding backers is 100k (40% of 250k total--see diagram 1.1).  This will be split between CCEDK and Beyond Bitcoin as follows (see diagram 1.2): 
40% Beyond Bitcoin, 60% CCEDK

(http://i.imgur.com/p2f9YgU.jpg)

BitShares Community ShareDrop
Total Supply of ShareBits for Community Sharedropping is 100k (40% of 250k total--see diagram 1.1). 
This will be split between BitShares (BTS) and BROWNIE.PTS as follows (see diagram 1.3): 60% BitShares (BTS) and 40% BROWNIE.PTS.  This ShareDrop total is conditional on full funding[/i] (see diagram 1.4).  The higher percentage of funding reached, the higher percentage of the 100k Community “ShareDrop Pool” will be ShareDropped on BTS and Brownies.  This will be up to 100% see diagram 1.3.. 
Full Funding is nearly guaranteed as we have intentionally started out smaller.  In fact, we are already roughly halfway to completing funding at present, so it is highly likely the ShareDrop will occur, as seen below in Diagram 1.3[i/]:

(http://i.imgur.com/qBiMEZV.jpg)

Crowd Donators
Crowd Donations are a means for us to open the funding (and future expansion of the platform) to the community. We are putting up 50k of the ShareBits up for sale for a total of $9k ($.18/each).

(http://i.imgur.com/RNDHW6e.jpg)

Fee Distribution

The beautiful thing about the Sharing Economy is that it enables us to Share with one another and earn capital from empowering ourselves with p2p Sharing/Tipping/Funding solutions.  As the ShareBot is one of the foundational elements for many of these solutions, we have approached this task as a means of empowering our community and incentivizing participation through the distribution of fees earned by the service. 
Fees will be earned in two ways:
1. Account upgradation - we get 80 percent of the transaction fee (don't we? )
2. Transfers (withdrawals and deposits)
The ShareBot fee distribution is intended to be sent out with the following breakdown:

(http://i.imgur.com/zCMQdms.jpg)



How can I donate??
We look forward to working with you and opening up the avenues for grassroots marketing and referrals in a way that empowers everyone--including ourselves--to leverage the Referral Program in a way that will ensure the ecosystem grows to be robust and lean, while enriching everyone who has supported our efforts to turn a single-tier referral system into one that will kickstart grassroots adoption of the Fastest Blockchain in the world:  BitShares.  Our efforts will bring a new angle to the term “Share” with respect to the BitShares economy, however.  ShareBits are intended to be the foundation of this extremely important (yet often overlooked) perception of the term “Share” in our ecosystem--as an action and a foundation for the “Sharing Economy”.  We look forward to bringing fellow “Sharers” onboard, and helping ensure profitability to those involved. 


***************************************************************************************************************************************************************************************
Instructions for Donating
***************************************************************************************************************************************************************************************
We can accept bitUSD, bitCNY, BTS and BTC at present (bank wires acceptable on a case by case basis). 
Please send all bitUSD, bitCNY, BTS donations to acct: browniedistro w/ the following memo format:
From (enter forum name here) for ShareBits Donations, (enter date)
***************************************************************************************************************************************************************************************
Please send all BTC donations to acct: 18Eby3193CizDMPb9cHE2q7GDWuj5V36Xj 
And a pm with the link to the tx (for BTC) with the following Subject: ShareBits Donation, (enter date)
***************************************************************************************************************************************************************************************
Can I use it before I donate so I know what I'm getting? 
-Yes.  This bot is currently being tested on the forums (https://bitsharestalk.org/index.php/topic,19568.0.html):
-For help setting up and funding the bot, please see Tutorial 1 (https://www.youtube.com/watch?v=0Y5Ws1xqZS8) and Tutorial 2 (https://www.youtube.com/watch?v=OzDFUfYB49Q)

When will I get ShareBits?
-Our first priority is giving the bot the testing and core functionality it needs.  During that period I ask that everyone consider making their own UIA and tip it to people to help us test.  The faster we debug, the faster it gets polished!  We will not be giving a specific date on the release of the token, but we will be pooling the tx fees that are going to token holders and will release them as a lump sum (or buy them at a certain price) when the token is distributed. 
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 14, 2015, 08:24:42 pm
**Note**
Once we receive full funding, all donations that come in after the $9k goal is met will be returned within 1 week of being sent.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Akado on November 14, 2015, 08:28:01 pm
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Shentist on November 14, 2015, 09:03:24 pm
do i understand it correct that beyoind and ccedk gets fees directly and via sharebits?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: rgcrypto on November 14, 2015, 09:15:26 pm
I will definitely use this service and if I can unlock my funds before it's too late.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 14, 2015, 09:16:26 pm
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Yes, you will be able to tip any bitshares UIA or bitassets.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 14, 2015, 09:17:32 pm
do i understand it correct that beyoind and ccedk gets fees directly and via sharebits?

Yes, that is what was agreed upon in our meetings.

Perhaps @Freebieservers and @ccedk would like to comment further. 
The current breakdown for this, however, is:
20% of tx fees to BTS
15% of tx fees to CCEDK
10% of tx fees to Beyond Bitcoin
55% of tx fees to ShareBits
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Akado on November 14, 2015, 09:22:56 pm
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Yes, you will be able to tip any bitshares UIA or bitassets.

You missed the first question.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 14, 2015, 10:37:21 pm
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Yes, you will be able to tip any bitshares UIA or bitassets.

You missed the first question.


Answered in the first post after the ANN. Donations post $9k will be returned to sender in about a week.

Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Akado on November 14, 2015, 10:40:48 pm
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Yes, you will be able to tip any bitshares UIA or bitassets.

You missed the first question.


Answered in the first post after the ANN. Donations post $9k will be returned to sender in about a week.

I'm talking if we dont reach the 9k. You're talking if we go above 9k.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 14, 2015, 10:44:18 pm

Answered in the first post after the ANN. Donations post $9k will be returned to sender in about a week.

I'm talking if we dont reach the 9k. You're talking if we go above 9k.

/Facepalm - sorry my bad.

Next question: If I hypothetically donate enough to get 1% of the 250k ShareBits would that mean I would get 1% of the 44% of the fees allocated to Sharebits, or, in other words, owning 1% of the 250k would be earning 0.44% of all fees generated by the enterprise?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: luckybit on November 14, 2015, 10:49:05 pm
 +5% +5% +5%
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Shentist on November 14, 2015, 11:44:32 pm
if i did the math correct you are selling 11% of the fees is this correct?

so the project ist worth 100.000 USD?

so, what i miss is the businessplan. so will tipping in the future cost something? or where are all the fees are coming?

2. for what do you need the money?
3. how much was put in from the founders?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: tonyk on November 14, 2015, 11:55:32 pm
if i did the math correct you are selling 11% of the fees is this correct?*

so the project ist worth 100.000 USD?**

so, what i miss is the businessplan. so will tipping in the future cost something? or where are all the fees are coming?

2. for what do you need the money?
3. how much was put in from the founders?

-*8.8% as of late...the graph changed.
-**was about 82K , now to a solid 102K
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 12:50:37 am
if i did the math correct you are selling 11% of the fees is this correct?

so the project ist worth 100.000 USD?

so, what i miss is the businessplan. so will tipping in the future cost something? or where are all the fees are coming?

2. for what do you need the money?
3. how much was put in from the founders?


1)
were selling 80% of the fees, distributed as such:

55% to shareholders
35% to ccedk
10% to beyond bitcoin

the other 20% covers bitshares network fees and any remainder is allocated to shareholders.

250k ShareBits shares are issued, we are are selling 50k of the 250 for this crowd funder, the amount were asking for is 9 thousand usd

0.18 per sharebit

this puts the valuation at roughly 45 thousand usd.

2) this is the breakdown as such:

Work so far: 40~ hours @ 60$ / hour: 2400
Work planned: 40~ hours @ 60$ / hour: 2400
Server Cost for 1 year: 1200$
Ongoing Maintenance Costs ~20 hours per year: 1200
Additional Features for CCEDK ~30 hours: 1800

Total: 9000


work so far:

forum crawler bot
web front end
custom images / logos
misc maintenance

work planned:

reddit (done)
twitter (done)
facebook (done)
mumble (done)
disquis
medium
other social media platforms

additional features for ccedk:

fiat integration
open ledger api support
ccpayt integration


3) 2.4k usd from the founders was used to pay for 40 hours of development.


Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 15, 2015, 01:00:28 am
Ronny and I paid freebies team the money we paid to ensure we had something to show the community before asking for donations.  This was very important for us because it is important to prove to the community we are willing to take the risk to prove the projects value...before asking the community to take that risk.  This is the intent whenever possible.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: tonyk on November 15, 2015, 01:03:32 am

1)
were selling 80% of the fees, distributed as such:

55% to shareholders
35% to ccedk
10% to beyond bitcoin

the other 20% covers bitshares network fees and any remainder is allocated to shareholders.

250k ShareBits shares are issued, we are are selling 50k of the 250 for this crowd funder, the amount were asking for is 9 thousand usd

this puts the valuation at roughly 50 thousand usd.


This is some fuzzy math...no pun intended.



   9K / (20%*80%*55%)   is still 102K -ish, just  as before.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 01:12:00 am

1)
were selling 80% of the fees, distributed as such:

55% to shareholders
35% to ccedk
10% to beyond bitcoin

the other 20% covers bitshares network fees and any remainder is allocated to shareholders.

250k ShareBits shares are issued, we are are selling 50k of the 250 for this crowd funder, the amount were asking for is 9 thousand usd

this puts the valuation at roughly 50 thousand usd.


This is some fuzzy math...no pun intended.



   9K / (20%*80%*55%)   is still 102K -ish, just  as before.


that makes no sense at all?

35 + 55 + 10 = 100

20% of that goes to bts fees...

whats not clear here?


Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: tonyk on November 15, 2015, 01:18:19 am

1)
were selling 80% of the fees, distributed as such:

55% to shareholders
35% to ccedk
10% to beyond bitcoin

the other 20% covers bitshares network fees and any remainder is allocated to shareholders.

250k ShareBits shares are issued, we are are selling 50k of the 250 for this crowd funder, the amount were asking for is 9 thousand usd

this puts the valuation at roughly 50 thousand usd.


This is some fuzzy math...no pun intended.



   9K / (20%*80%*55%)   is still 102K -ish, just  as before.


that makes no sense at all?

35 + 55 + 10 = 100

20% of that goes to bts fees...

whats not clear here?

I cannot easily tell what is not clear to you...let's take it slow

50K/250K = 20%
20% of 55% is 20%*55%
80 % of that is 20%*55%*80%

9000/(20%*55%*80%) = 102,272.7272 valuation
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 01:25:57 am

1)
were selling 80% of the fees, distributed as such:

55% to shareholders
35% to ccedk
10% to beyond bitcoin

the other 20% covers bitshares network fees and any remainder is allocated to shareholders.

250k ShareBits shares are issued, we are are selling 50k of the 250 for this crowd funder, the amount were asking for is 9 thousand usd

this puts the valuation at roughly 50 thousand usd.


This is some fuzzy math...no pun intended.



   9K / (20%*80%*55%)   is still 102K -ish, just  as before.


that makes no sense at all?

35 + 55 + 10 = 100

20% of that goes to bts fees...

whats not clear here?

I cannot easily tell what is not clear to you...let's take it slow

50K/250K = 20%
20% of 55% is 20%*55%
80 % of that is 20%*55%*80%

9000/(20%*55%*80%) = 102,272.7272 valuation


i mean heck we would totally take a 100k valuation but your math is a bit off,

Quote
20% of 55% is 20%*55%
80 % of that is 20%*55%*80%

20 % of 55% what? where are you getting this?

 anyway could you not derail this thread? im sure people want to discuss the topic
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 01:26:09 am

I think you're making it more confusing than it needs to be. I think your conflating valuation with revenue splits?

$9000 from 50k shares is $0.18/share.

250k shares @ $0.18/share = $45,000
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 01:27:34 am

I think you're making it more confusing than it needs to be.

$9000 from 50k shares is $0.18/share.

250k shares @ $0.18/share = $45,000

amen bro
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 01:28:01 am
anyway could you not derail this thread? im sure people want to discuss the topic

IMHO this is on topic. Asking for donations at a fixed price per share means the project has a valuation. Extrapolating that valuation is an import metric to those who are deciding if, or how much, to donate.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Shentist on November 15, 2015, 01:50:58 am
still on topic and

@Riverhead

tonyk is absolutly right on the valuation.

250.000 shares get 55% of the fees - so the total project is worth 100% and not just the 55% shares.
Total valuation is :  $ 81.818

this is the reason why it is to complicated. I dont get it why not everything is converted into shares, so it is easier to decide for investors to chip in.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 02:02:32 am

@Shentist I think you too are conflating revenue splitting with valuation. There are 250k shares for everyone at $0.18/share. How the revenue is then divided up is a different set of numbers. Since there isn't any revenue yet there's no way to add that into the mix.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Shentist on November 15, 2015, 02:14:42 am

@Shentist I think you too are conflating revenue splitting with valuation. There are 250k shares for everyone at $0.18/share. How the revenue is then divided up is a different set of numbers. Since there isn't any revenue yet there's no way to add that into the mix.

if you see it this way - ok!

Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 02:16:11 am

@Shentist I think you too are conflating revenue splitting with valuation. There are 250k shares for everyone at $0.18/share. How the revenue is then divided up is a different set of numbers. Since there isn't any revenue yet there's no way to add that into the mix.

if you see it this way - ok!

What am I missing? This is much more your bag than mine.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: tonyk on November 15, 2015, 02:20:15 am
well I can put it mildly or TK style?

OK "mildly", I hear from the room

The tokens are valuated at 55k -ish.

The project at 102K


PS
Both are very reasonable numbers -   10Mil tips volume per year, at 0.1% fee and we have a golden valuation at 10% return per year....ok 5% for the share bearers but still, who here thinks  10mil is a number worth talking about?
and fuzz do not tell me you will get those numbers in LM memberships sign ups - I know you will.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Empirical1.2 on November 15, 2015, 02:45:35 am
I think the confusing thing for me is this diagram.

CCEDK & Beyond Bitcoin own 40% of ShareBits. (100k of 250k ShareBits)

So does that mean they are getting 40% of the 44% (PInk) and another 28% (black) and 8% (blue) of total fees?


(http://i.imgur.com/zCMQdms.jpg)



The power of the ShareBot makes it possible for real grassroots referral gathering by enabling our community to bring on referrals via tipping on social media and nearly anywhere else, including email lists and many others.

This is similar to what helped Dogecoin gain some traction, social media tipping.

Do the ShareBot founders have an opinion on the transfer fee issue? It seems a transfer fee of $0.2 would make tipping/sharing to a wide audience cost prohibitive. The minimum tip would have to be $0.5 just to translate into a $0.1 tip. (As it would cost $0.2 to send and at least $0.2 to claim) Or are you tipping via a UIA?

Either way I think it's a good initiative and is showing how the ability to split fee revenue has lots of possibilities. Good Luck.

Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: ebit on November 15, 2015, 03:24:23 am
 +5%
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 03:26:51 am
this is the reason why it is to complicated. I dont get it why not everything is converted into shares, so it is easier to decide for investors to chip in.

After thinking about it more it looks like these shares are not equity stake but a profit sharing bond of sorts. The amount of funding desired is therefore meaningless in determining valuation - only IPO price.

Thank you tonky and shentist. I still think it's a great project and a good buy in price - just not as straightforward to evaluate as I had first thought.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 15, 2015, 04:12:51 am
I am personally open to working with the community to find a more acceptible proposition/distribution.  This needs to be used and I want to ensure that happens. 

I honestly had this set as a pre announcement beforehand but changed the name to "announcement". 

This is a place where it is important to talk with the community.

So please give me thoughts and ideas! 

Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Riverhead on November 15, 2015, 04:43:07 am

I think everything is just fine, Fuzzy. I was only trying to get the numbers worked out in my own head.

Best not to tweak anything at this stage IMHO. You'll never get agreement from everyone and what is here is just fine.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 15, 2015, 05:41:28 am

I think everything is just fine, Fuzzy. I was only trying to get the numbers worked out in my own head.

Best not to tweak anything at this stage IMHO. You'll never get agreement from everyone and what is here is just fine.

It might not be a bad idea instead to add a "buy back" mechanism instead of fees going out to these tokens.  Then we could essentially send them to a "burn" address of sorts.  Then the supply would decrease and it would even out the issue that I think is the primary one (and is GOOD that it was brought up): that of the % of fees distributed.  @Riverhead I still don't think it is that bad either--kind of makes me think of what John Underwood said when answering the question about dropping on brownies (and i'm paraphrasing...not quoting):  We need to think bigger and beyond just what we are receiving in terms of tokens...we have a chance to make a REAL CHANGE here! 

Now with that said, even if we keep to the current model, I expect a reasonable level of divestiture over time...so the amount of fees going to initial founders will likely get lower over time while the holders of the tokens increase in number.  Also (and I can only speak for myself here) any funding I receive will likely end up going to helping build Beyond Bitcoin (bitshares) in various forms (better mic, better pc, more funds to go toward toward tools for future beyond bitcoin guest speakers/moderators...etc). 

One final note:  if bugs come up or we want to expand features, it will be FAR more easy to fix them or expand this bot's feature set if we have it a bit more centralized in terms of cash flow around those who have organized (and bought in) in the earliest (and most risky) stages.  So it isn't entirely a bad thing from my perspective to have a good bit more centralization early on while we make sure everything is polished and beautiful.  That is, of course, unless all those getting sharedropped tokens (because of the investors) and those investing also want to help pitch in to ensure those bugs get fixed and features expanded after the fact (but that just doesn't seem to make sense to me). 

What are your thoughts? 

Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: CryptoPrometheus on November 15, 2015, 06:15:30 am
@fuzzy @kuro112 @ccedk

Great Initiative!

I saw fuzzy mention that the OP was only a pre-proposal, so maybe some of these questions can't or don't have answers yet, but I figured I would just rattle them off anyways.

Here goes:

1)  Will this project be closed source, or open source and licensed? If it it closed source, will there be a transparent way to audit that everything is working properly?

2)  Do you plan to ever dilute the Sharebit UIA to more than 250k in the future? Who will be the official trustees?

3)  Do you have any built in mechanism for funding future development of the bot? For example, do you plan to allocate a percentage of the referral income towards ongoing development? In your breakdown I saw $1200/year for maintenance fees, but I don't remember any mention of an ongoing development fund.

4)  I'm very interested to hear about how do you plan to implement dividend payments to UIA holders (high level, of course ;))

5) Last - out of curiosity, If you end up sharedropping ShareBits UIA onto BTS and Brownies holders, how much is that going to cost? Aren't there like 60,000 addresses? That's a lot of transaction fees!

All in all, I think this project has a lot of potential, if done correctly. I am no expert on the "correct" way to do this, but I am very encouraged by the way you are approaching it so far.

Edit: One final question I have - how will the project be governed? Will ShareBits UIA holders have a say in any decision making processes going forward, or will it be "centrally" governed by Beyond Bitcoin and CCEDK? My personal (unsolicited) opinion is that it would have a much higher chance of success if you did not try to formally involve the token holders in much (if any) of the decision making processes. I know this isn't even possible yet (until hopefully FMV releases their UIA voting software), but nevertheless I am wondering about how you envision the tipbot to be "governed", i.e. who is pulling the trigger on major and minor decisions?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: mf-tzo on November 15, 2015, 11:08:16 am
 +5% +5% +5% nice!
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 15, 2015, 02:19:24 pm
**First and foremost---I am speaking only for myself here and if you want @ccedk @kuro112 @emailtooaj @Freebieservers to give their opinions, they will have to speak up themselves because it is unfair to them for me to put words in their mouths so-to-speak.


1)  Will this project be closed source, or open source and licensed? If it is closed source, will there be a transparent way to audit that everything is working properly?
This is up for grabs but currently it is closed source.   It could be opened up, but I would prefer not at this moment.  Licensing, however, would be something for which I would press. 
 
2)  Do you plan to ever dilute the Sharebit UIA to more than 250k in the future? Who will be the official trustees?
It is possible.  If the community feels that a feature being added would be worth another Crowd Donation for, say, 20k more ShareBits to receive the money to add a feature in.  Of course, it might also be possible for us to add functionality and charge for it to be added.  My honest thoughts though are that after 1 year this ShareBot and its ShareBits will be so big that this ShareBot will become huge, will earn us more than enough to pay for the basic updates, maintenance, additions...etc.  Because of this value other services will likely want to pay to have their services integrated (and part of these payments could actually be given as a "bonus" dividend payment/token buyback).

3)  Do you have any built in mechanism for funding future development of the bot? For example, do you plan to allocate a percentage of the referral income towards ongoing development? In your breakdown I saw $1200/year for maintenance fees, but I don't remember any mention of an ongoing development fund.
The idea is largely to use the tx fees received to help pay for that maintenance.  The “ongoing” development fund would likely be more of a pool of money that we hold and use as needed because as much as you want to plan for something…in the coding world it often doesn’t matter what is “planned”.  Far better to save funds and use them for emergencies.  I am also pretty certain that CCEDK and myself would be interested in helping pitch in if it was completely necessary ( for instance if the community for some odd reason doesn’t want to fix it or add what we may truly believe to be a killer feature).  But then again, we are giving a very large portion of this bot to the community so I would be stunned to see them not support a little worker proposal funding here or their to make sure it functions and grows as they want it to.

4)  I'm very interested to hear about how do you plan to implement dividend payments to UIA holders (high level, of course ;))
Payouts on a regular schedule.  This might be daily, weekly, bi-weekly, monthly….etc. 


5) Last - out of curiosity, If you end up sharedropping ShareBits UIA onto BTS and Brownies holders, how much is that going to cost? Aren't there like 60,000 addresses? That's a lot of transaction fees! 
This is a question that I am very glad you brought up.  Let’s ask @kuro112 and @hybridd what they have to say.  From my perspective, though, it is more important to give everyone in the BitShares community a valuable stake in ShareBits because it embodies everything they need to successfully earn referrals from across the most heavy traffic social media and other sites.  This means that the cost is worth it...and it will at the very least be substantially lower since the account sending them will be a lifetime member account :)


Edit: One final question I have - how will the project be governed? Will ShareBits UIA holders have a say in any decision making processes going forward, or will it be "centrally" governed by Beyond Bitcoin and CCEDK? My personal (unsolicited) opinion is that it would have a much higher chance of success if you did not try to formally involve the token holders in much (if any) of the decision making processes. I know this isn't even possible yet (until hopefully FMV releases their UIA voting software), but nevertheless I am wondering about how you envision the tipbot to be "governed", i.e. who is pulling the trigger on major and minor decisions?
Governance of the project shouldn’t be too much of an issue as the only real decisions needing made would tend to be neutral decisions that would benefit all users via maintenance or upgrades.  Here are a few things I can think of that would need a few individuals to make a final decision:
A)  To ensure ease of use improves
B)  When to upgrade/update
C)  If a feature is needing added (for instance…making the ShareBot work with, say, joomla), a community member could pay out of pocket or ask for a worker proposal to pay for it to be added.
D)  Whether fee distribution needs to change in some way due to a number of factors.  Personally I feel it is partially my job to try to get these things covered and as such I am going to be working to ensure it goes as smoothly as possible.
However, after a year of this bot being used, it will likely be bringing plenty to help pay for these fees.  In addition, since this bot is specifically being used by bts community and will be sharedropping so heavily onto them, I am also not against a worker proposal helping pay for some of the most vital or community-backed changes/maintenance/upgrades if they are required and the bot is unable to make it 1 year without needing those updated.
I say this because beyond bitcoin has run very very lean for the past nearly 2 years---having a delegate pay us approximately $500-700/mo for somewhere in the realm of 6-9 months and has arguably brought some of the greatest value and uniqueness to the BitShares ecosystem  (I mean everyone just ask yourselves if BitShares would be the same without Beyond Bitcoin and I am pretty sure most would say it wouldn't be).  We have shown time and time again that we use less money than we should and bring lots of value to the table for it. 
In my mind, at least, the community who gets sharedropped on will likely be willing to look at situations and make decisions on whether or not to help fund it.  But it is definitely in their best interest to do so…because they basically have a better version of some other crypto-talk competitors that bitcoin has just waiting for them to support and build it up.  BitShares having something equivalent to LTB that is born and NATIVE to the bitshares environment (which no other crypto-talk shows do) is priceless. 
If we can expand and have our own community’s project managers/reps holding hangouts and various other initiatives, you will see beyond bitcoin become what it was truly meant to be.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: openledger on November 15, 2015, 02:46:47 pm
 +5% +5%
Title: [ANN]Now Open: ShareBits CrowdDonations
Post by: carpet ride on November 15, 2015, 03:37:15 pm
Just checking that I see how this works.  If I share an asset with a random girl on Twitter, then she clicks my link, claims the asset and passively joins my referral network.  The ShareBot also takes .1bts which it adds to the cost of transfer.  Is this correct?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: openledger on November 15, 2015, 04:49:10 pm
ShareBits.io's Launch Bringing 'Crypto' Technology To Mass-Market Solutions

To support the BitShares community in making the Sharebits make a difference out there in the real world, and allow an increasing amount of new interested parties, users and projects enjoy the Bitshares 2.0 platform Openledger, the Sharebits has managed to get a space in the Forbes window, I hope you all enjoy and will help spread the news. Lets give this article a warm welcome with lots of twitter love, facebook and linkedin mentioning as well as Reddit upvotes etc, and then once you are done, you can start tipping all the connections you has managed to bring this message out, by simply sending a tip via the new BitShares project Sharebit.io

Enjoy, and lets get the fun started :)

http://www.forbes.com/sites/rogeraitken/2015/11/15/sharebits-ios-launch-bringing-crypto-technology-to-mass-market-solutions/
Modify message
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: bang-king on November 15, 2015, 06:32:02 pm
it's my first time sending donation.  I have bts so how to i donate?  and what is memo?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 15, 2015, 07:17:41 pm
ShareBits.io's Launch Bringing 'Crypto' Technology To Mass-Market Solutions

To support the BitShares community in making the Sharebits make a difference out there in the real world, and allow an increasing amount of new interested parties, users and projects enjoy the Bitshares 2.0 platform Openledger, the Sharebits has managed to get a space in the Forbes window, I hope you all enjoy and will help spread the news. Lets give this article a warm welcome with lots of twitter love, facebook and linkedin mentioning as well as Reddit upvotes etc, and then once you are done, you can start tipping all the connections you has managed to bring this message out, by simply sending a tip via the new BitShares project Sharebit.io

Enjoy, and lets get the fun started :)

http://www.forbes.com/sites/rogeraitken/2015/11/15/sharebits-ios-launch-bringing-crypto-technology-to-mass-market-solutions/
Modify message

can they share some UIA's on those platforms?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Xypher on November 15, 2015, 07:23:22 pm
ShareBits.io's Launch Bringing 'Crypto' Technology To Mass-Market Solutions

To support the BitShares community in making the Sharebits make a difference out there in the real world, and allow an increasing amount of new interested parties, users and projects enjoy the Bitshares 2.0 platform Openledger, the Sharebits has managed to get a space in the Forbes window, I hope you all enjoy and will help spread the news. Lets give this article a warm welcome with lots of twitter love, facebook and linkedin mentioning as well as Reddit upvotes etc, and then once you are done, you can start tipping all the connections you has managed to bring this message out, by simply sending a tip via the new BitShares project Sharebit.io

Enjoy, and lets get the fun started :)

http://www.forbes.com/sites/rogeraitken/2015/11/15/sharebits-ios-launch-bringing-crypto-technology-to-mass-market-solutions/
Modify message

can they share some UIA's on those platforms?

Yes, UIA tipping will be possible on every platform we support.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 09:53:11 pm
it's my first time sending donation.  I have bts so how to i donate?  and what is memo?

@bang-king

Quote
Please send all bitUSD, bitCNY, BTS donations to acct: browniedistro

use memo: For sharebot


To those who have contributed thus far, we got some social media integration up, a forbes article featuring us, and were producing more features every day!

thanks so much for your support, we will continue delivering awesome features as long as you need them :)
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: bang-king on November 15, 2015, 11:44:41 pm
@kuro112 I donated but I put the btstip.io tip code in the memo.  :(
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 15, 2015, 11:49:04 pm
@kuro112 I donated but I put the btstip.io tip code in the memo.  :(

haha no problem bro, we saw your donation, thanks so much for your support!

look out for more updates as we refine the business model and numbers, add more valuable features and bring large volume users onto our platform.

we have a long way to go, but thanks to @hybridd @fuzzy and @ccedk we are taking the market by storm, so you know, shareholders rejoice :D


on a side note, look our for the dates on our sharedrops, we know you guys are looking to get in on the action and we will update you soon.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: alt on November 16, 2015, 12:01:57 am
I like the project.

But I don't like the idea airdrop to community.
If your business can success, it's the best reward for community.

you need keep more shares for next fund, encourage your future team member,
if you keep less than 50%,  you'll lost motive power for the project.

you should ask venture capital instead of crowdfund, less than 10% shares for crowdfund is acceptable.

I don't want to say but it's the fact, most BTS are hold by speculators, they will have no contribute to your project.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 16, 2015, 12:23:22 am
I like the project.

But I don't like the idea airdrop to community.
If your business can success, it's the best reward for community.

you need keep more shares for next fund, encourage your future team member,
if you keep less than 50%,  you'll lost motive power for the project.

you should ask venture capital instead of crowdfund, less than 10% shares for crowdfund is acceptable.

I don't want to say but it's the fact, most BTS are hold by speculators, they will have no contribute to your project.


thats honestly a really valuable perspective and one we hadnt completely considered, we will be discussing it.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 16, 2015, 01:11:08 am
I like the project.

But I don't like the idea airdrop to community.
If your business can success, it's the best reward for community.

you need keep more shares for next fund, encourage your future team member,
if you keep less than 50%,  you'll lost motive power for the project.

you should ask venture capital instead of crowdfund, less than 10% shares for crowdfund is acceptable.

I don't want to say but it's the fact, most BTS are hold by speculators, they will have no contribute to your project.

I appreciate the input alt :)

We did this because it helps bitshares holders if their is a culture that forms around the token that essentially makes outside crypto holders realize that holding bts will be highly likely to give them stake in other, future associated projects. 

Imagine, for instance, if every bitcoin holder was sharedropped a portion of every new innovative token that came out.  Just imagine how many people would want to hold btc it this was the case for btc.  Do you really think it would harm btc and crypto? I personally think people would begin focusing on the technologies underlying the tokens they receive and would be far more likely to be strong hands.

But not only that...brownie holders are going to hold many as well...and we fully expect they will help drive future sharedrive initiatives and inspire bts holders to follow suit ;)
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 16, 2015, 01:34:10 am
I like the project.

But I don't like the idea airdrop to community.
If your business can success, it's the best reward for community.

you need keep more shares for next fund, encourage your future team member,
if you keep less than 50%,  you'll lost motive power for the project.

you should ask venture capital instead of crowdfund, less than 10% shares for crowdfund is acceptable.

I don't want to say but it's the fact, most BTS are hold by speculators, they will have no contribute to your project.

I appreciate the input alt :)

We did this because it helps bitshares holders if their is a culture that forms around the token that essentially makes outside crypto holders realize that holding bts will be highly likely to give them stake in other, future associated projects. 

Imagine, for instance, if every bitcoin holder was sharedropped a portion of every new innovative token that came out.  Just imagine how many people would want to hold btc it this was the case for btc.  Do you really think it would harm btc and crypto? I personally think people would begin focusing on the technologies underlying the tokens they receive and would be far more likely to be strong hands.

But not only that...brownie holders are going to hold many as well...and we fully expect they will help drive future sharedrive initiatives and inspire bts holders to follow suit ;)


the sharedrops are a great way to give back and motivate people to contribute ideas and time to help out for sure,

also we will be doing a buyback so dont forget that ^^
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 16, 2015, 04:32:02 am
I like the project.

But I don't like the idea airdrop to community.
If your business can success, it's the best reward for community.

you need keep more shares for next fund, encourage your future team member,
if you keep less than 50%,  you'll lost motive power for the project.

you should ask venture capital instead of crowdfund, less than 10% shares for crowdfund is acceptable.

I don't want to say but it's the fact, most BTS are hold by speculators, they will have no contribute to your project.

I appreciate the input alt :)

We did this because it helps bitshares holders if their is a culture that forms around the token that essentially makes outside crypto holders realize that holding bts will be highly likely to give them stake in other, future associated projects. 

Imagine, for instance, if every bitcoin holder was sharedropped a portion of every new innovative token that came out.  Just imagine how many people would want to hold btc it this was the case for btc.  Do you really think it would harm btc and crypto? I personally think people would begin focusing on the technologies underlying the tokens they receive and would be far more likely to be strong hands.

But not only that...brownie holders are going to hold many as well...and we fully expect they will help drive future sharedrive initiatives and inspire bts holders to follow suit ;)


the sharedrops are a great way to give back and motivate people to contribute ideas and time to help out for sure,

also we will be doing a buyback so dont forget that ^^

Yep^ :D
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 16, 2015, 04:41:14 am
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Very sorry @Akado. I was not intentionally ignoring your questions.

1) If we dont receive 100% funding (which is so highly unlikely that i almost feel it is a bit of a waste of time to cover), their will be a reduction in the amount sharedropped on BTS and BROWNIES by the % unfunded.  So for instance if we are missing 10% of the crowdfunder donations required, we will take 10% of the Sharedrop off of the community.  This is to incentivize people to get others onboard and help significantly inprove the chances of a full sharedrop of NEARLY HALF of the ShareBits.  However, i can say i will likely go sell some of my silver to pay it myself if that happens for some reason...so it is highly (almost nonexistent) in likelihood.

2) yes.  The idea is that we want to open it up to enable people to send ANY bitshares UIA and bitassets.  This bot very well might even allow us to later on send other tokens like peercoin, btc, ether...etc. but that would have to be verified with the rest of the group. :)
However, one final note...if we were to have the ability to do something like the decentralized exchange that enables people to insert peercoin and get a UIA for it that is traded on the bts decentralized exchange, then it is pretty much guaranteed any coin our community adds will be Shareable using the ShareBot. ;)
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 16, 2015, 08:54:24 am
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Very sorry @Akado. I was not intentionally ignoring your questions.



2) yes.  The idea is that we want to open it up to enable people to send ANY bitshares UIA and bitassets.  This bot very well might even allow us to later on send other tokens like peercoin, btc, ether...etc. but that would have to be verified with the rest of the group. :)
However, one final note...if we were to have the ability to do something like the decentralized exchange that enables people to insert peercoin and get a UIA for it that is traded on the bts decentralized exchange, then it is pretty much guaranteed any coin our community adds will be Shareable using the ShareBot. ;)


honestly nothings stoping us from doing that as is, we could technically support any crypto at all.

currently we do not however, only because the daemons required and the security concerns with holding coins on a non decentralized network.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Akado on November 16, 2015, 09:56:16 am
What if the 9k isn't reached, let's say you get 5k, will the 50k sharebits be distributed through the donators as well? meaning each person who donated gets more share bits?

One thing I might have missed or you didn't mention, people don't need to tip ShareBits, they will be able to tip bitUSD, bitAsset BEER, bitAsset COFFEE, bitCNY, etc, right?

Very sorry @Akado. I was not intentionally ignoring your questions.

1) If we dont receive 100% funding (which is so highly unlikely that i almost feel it is a bit of a waste of time to cover), their will be a reduction in the amount sharedropped on BTS and BROWNIES by the % unfunded.  So for instance if we are missing 10% of the crowdfunder donations required, we will take 10% of the Sharedrop off of the community.  This is to incentivize people to get others onboard and help significantly inprove the chances of a full sharedrop of NEARLY HALF of the ShareBits.  However, i can say i will likely go sell some of my silver to pay it myself if that happens for some reason...so it is highly (almost nonexistent) in likelihood.

2) yes.  The idea is that we want to open it up to enable people to send ANY bitshares UIA and bitassets.  This bot very well might even allow us to later on send other tokens like peercoin, btc, ether...etc. but that would have to be verified with the rest of the group. :)
However, one final note...if we were to have the ability to do something like the decentralized exchange that enables people to insert peercoin and get a UIA for it that is traded on the bts decentralized exchange, then it is pretty much guaranteed any coin our community adds will be Shareable using the ShareBot. ;)

No problem, thanks for the reply. I also think what you're doing with 1) is the best strategy because of what Alt mentioned (dunno if it was on this thread). Kuro read it and knows what I'm talking about.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: carpet ride on November 18, 2015, 02:24:36 am
sorry if this is located in this thread somewhere ... but how does the tipping bot interact with the referrals?
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on November 18, 2015, 06:24:58 pm
sorry if this is located in this thread somewhere ... but how does the tipping bot interact with the referrals?

Referrals are something that we are currently waiting to implement.  At present we are testing core functionality.  Then we will be able to dig more into the referral system.  We are currently looking into it, but would love to have it so there is a way to enable you to Share with a new user and when they go to retrieve them, they are referred by A) the user or B) by the system. 

If it is A (the user), then it would take a small cut of the fees generated for system maintenance and to provide buyback/dividends for the ShareBits. 
If it is B (the system), then likely all but a small % of the referral fees generated would go to the token holders. 

*****NOTICE******
http://sharebits.io/Home/Claim?cid=441&code=PcoKniWubzOqIlgi
Please check this link and post feedback.  The first person to do so will receive a second tip for helping us test!
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: Frodo on November 24, 2015, 09:06:22 pm
Just curious, would it be possible to build payout systems (e.g. for miningpools) using sharebits? Is there a way to send tips via API calls? Could eventually be a simple way to implement manual withdrawals without having to track anything yourself.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: kuro112 on November 25, 2015, 04:38:34 pm
Just curious, would it be possible to build payout systems (e.g. for miningpools) using sharebits? Is there a way to send tips via API calls? Could eventually be a simple way to implement manual withdrawals without having to track anything yourself.

it is very possible yes, we do not CURRENTLY support a public api however its super doable, and the 'tip' system and certainly be used to payout users in a programmatic way.
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: fuzzy on February 04, 2016, 04:18:27 am
@kuro112 I donated but I put the btstip.io tip code in the memo.  :(

its ok bang-king :)
i got yours a long time ago and have it in the spreadsheet
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: bang-king on February 04, 2016, 06:42:54 am
 +5% +5% +5%
Title: Re: [ANN]Now Open: ShareBits CrowdDonations
Post by: valtr on February 04, 2016, 09:11:36 pm
Is the project still opened for donation or not?