New Stealth Transfer Worker ($1000)

[twitter]

I would estimate it would take about 1 month of effort. Allowing for various delays etc, I would guess 6 weeks from the time we start on it.

But it is software, I wouldn't want to be penalized for taking longer than 6 weeks.

Would that put a hold on things like updating the API or just remove resources? If it's removing resources, what percentage would other projects suffer? Also, what about an up-front payment and then rest in escrow (if that's possible) once the work is successfully delivered?

This is also something I am discussing with Stan:

2.. I can then wire Cryptonomex $45,000 so that you can begin the process of gathering the materials and personnel to fulfill the (contract?). Hopefully this would involve you adding to capacity such that other worker proposals voted on are not delayed. Otherwise the firestorm in the Forum will be unbearable.

#sharebits "onceuponatime" 66 OPENSESAME

[bytemaster]

We just hired a new developer.  We have a lot of customers competing for our attention right now.  We are attempting to add capacity responsibly.

If it comes down to prioritization of scarce resources we will do whatever pays the most first (ECON 101).   

[onceuponatime]

I would estimate it would take about 1 month of effort. Allowing for various delays etc, I would guess 6 weeks from the time we start on it.

But it is software, I wouldn't want to be penalized for taking longer than 6 weeks.

Would that put a hold on things like updating the API or just remove resources? If it's removing resources, what percentage would other projects suffer? Also, what about an up-front payment and then rest in escrow (if that's possible) once the work is successfully delivered?

This is also something I am discussing with Stan:

2.. I can then wire Cryptonomex $45,000 so that you can begin the process of gathering the materials and personnel to fulfill the (contract?). Hopefully this would involve you adding to capacity such that other worker proposals voted on are not delayed. Otherwise the firestorm in the Forum will be unbearable.

[TravelsAsia]

I would estimate it would take about 1 month of effort. Allowing for various delays etc, I would guess 6 weeks from the time we start on it.

But it is software, I wouldn't want to be penalized for taking longer than 6 weeks.

Would that put a hold on things like updating the API or just remove resources? If it's removing resources, what percentage would other projects suffer? Also, what about an up-front payment and then rest in escrow (if that's possible) once the work is successfully delivered?

[bytemaster]

I would estimate it would take about 1 month of effort. Allowing for various delays etc, I would guess 6 weeks from the time we start on it.

But it is software, I wouldn't want to be penalized for taking longer than 6 weeks. 

[fav]

CNX should just start the kickstarter.

@onceuponatime could give smaller investors 7 days time to buy equity and then buy the remaining shares.

make sense?

[twitter]

i can invest 10%of the cost it is a essential feature for financial business   

[onceuponatime]

First of all a big thank you to onceuponatime. He is a very well known supporter of bitshares and has my full support! for everything you have done to bitshares so far!!

Secondly I like also the idea of UIA. Let everyone who wants to participate in this buy the UIA by supporting the project. This way onceuponatime will share the risks but also the profits. CNX will get it done and the rest will be history. The UIA holders should receive a very big % of the fees. I would say something like 90% at least.

Either way whatever you decide is good for me as long as it is gets done. So I just have one question that I don't see anyone addressed yet...

If CNX gets the $45k funding via onceuponatime or via crowdfunding and various investors, @bytemaster ,  how long will it take to finish the project?

I had the same thought that I put to Stan:

5. I would appreciate an ETA on the project if you received advance payment ($45,000) in full. You will of course pad this somewhat  , so then a delay penalty should probably kick in for each week over the ETA.

[mf-tzo]

First of all a big thank you to onceuponatime. He is a very well known supporter of bitshares and has my full support! for everything you have done to bitshares so far!!

Secondly I like also the idea of UIA. Let everyone who wants to participate in this buy the UIA by supporting the project. This way onceuponatime will share the risks but also the profits. CNX will get it done and the rest will be history. The UIA holders should receive a very big % of the fees. I would say something like 90% at least.

Either way whatever you decide is good for me as long as it is gets done. So I just have one question that I don't see anyone addressed yet...

If CNX gets the $45k funding via onceuponatime or via crowdfunding and various investors, @bytemaster ,  how long will it take to finish the project?

[NotSmart]

I would also strongly recommend that we open up this deal to "crowd fund" a UIA with a buyback plan. This way onceuponatime can diversify his risk and we can have an "equal opportunity" policy.  I don't want anyone accusing us of playing favorites.  By being equal opportunity we should auction it off.  Raise as much BTS as possible to fund it and then burn the rest.  This way the network gets a proper market-determined-price for this revenue stream.

This sounds like an ideal plan. My only addition would be  work in USD, at least it will make them useful. If you cant use your own price stable product when you are writing all in $ then its pointless expecting others would.

[xeroc]

That's what I am hoping for as well .. a better API could help here

[Riverhead]

One problem I see with the UIA-based crowdfuning is that if you sell your UIA for BTS your will only have to sell your BTS eventually to cover your costs .. that downward pressure aswell ..
otherwise, if you sell your UIA for USD people need to bootstrap the USD markets which will hinder your crowdsale .. but improve liquidity (slowly) and make the crowdsale easier from legal POV .. or am I missing something?

The value of the UIA would be based on the expectation of future revenue. If you sell your UIA for BTS someone had to buy that BTS to purchase the UIA. IMHO that's a wash in terms of market pressures. The issue with the USD market we are betting is short term teething and will eventually be liquid enough to absorb a UIA sale.

[xeroc]

One problem I see with the UIA-based crowdfuning is that if you sell your UIA for BTS your will only have to sell your BTS eventually to cover your costs .. that downward pressure aswell ..
otherwise, if you sell your UIA for USD people need to bootstrap the USD markets which will hinder your crowdsale .. but improve liquidity (slowly) and make the crowdsale easier from legal POV .. or am I missing something?

[abit]

I really do not get 'the no lifetime fees' crowd.

What is up with you people? Someone making too much money, according to you?

If yes go pay it yourselves, or get up and organize it as a UIA funding that you can buy into...


PS
And keep in mind that I say that while I have only 3 prime suspects for this secret investor - CNX being one of those.

So I've been thinking a lot about this and, like most things after further consideration, my opinion is evolving. Stan's parking garage metaphor is good.

I like the idea of crowd funded UIA to pay for features even if it is a crowd of one. It may play out like this (which may have already been posted..this thread really blew up quickly)

1) Someone wants a feature and gets in contact with developers - in this case CNX
2) CNX says they'll do it for $45k and creates a UIA with a market cap of $45k
3) The UIA earns all fees generated by the feature (minus standard network fees) for life
4) The UIA can be bought entirely by one person and they would earn all the royalties.

This gains the following:
1) The person(s) that paid for the feature reap the rewards whenever it is used forever.
2) The engineering resources to maintain the feature going forward are fungible.
3) Since a UIA is liquid it gets away from the "issue" of one person receiving royalties forever.

IMHO this is the perfect solution to crowd funding features, rewarding those that are taking the risk, and leveraging the existing platform to make it all happen.

This way would be perfect if automatic-dividend-distribution is implemented.
Anyway thanks to @onceuponatime.

[Riverhead]

I really do not get 'the no lifetime fees' crowd.

What is up with you people? Someone making too much money, according to you?

If yes go pay it yourselves, or get up and organize it as a UIA funding that you can buy into...


PS
And keep in mind that I say that while I have only 3 prime suspects for this secret investor - CNX being one of those.

So I've been thinking a lot about this and, like most things after further consideration, my opinion is evolving. Stan's parking garage metaphor is good.

I like the idea of crowd funded UIA to pay for features even if it is a crowd of one. It may play out like this (which may have already been posted..this thread really blew up quickly)

1) Someone wants a feature and gets in contact with developers - in this case CNX
2) CNX says they'll do it for $45k and creates a UIA with a market cap of $45k
3) The UIA earns all fees generated by the feature (minus standard network fees) for life
4) The UIA can be bought entirely by one person and they would earn all the royalties.

This gains the following:
1) The person(s) that paid for the feature reap the rewards whenever it is used forever.
2) The engineering resources to maintain the feature going forward are fungible.
3) Since a UIA is liquid it gets away from the "issue" of one person receiving royalties forever.

IMHO this is the perfect solution to crowd funding features, rewarding those that are taking the risk, and leveraging the existing platform to make it all happen.