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FUNDING REQUEST - hashrate.org NXT Promotional Fund  
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Author Topic: FUNDING REQUEST - hashrate.org NXT Promotional Fund  (Read 1636 times)

pf

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FUNDING REQUEST - hashrate.org NXT Promotional Fund
« on: April 12, 2014, 08:48:16 pm »

Hi all!

I am going to set up a hashrate.org NXT promotional fund that will be used to pay for getting actual news releases released once the site is finished being under development.  (this is about $499 plus taxes)

I will also use the fund to offer 'rewards' to miners randomly, to draw additional hashrate to the pool the same way that the Blackcoin pool has been doing so successfully.  By offering bonus amounts to the miners, it will be possible to draw multiple gigahash of mining power and then that power will directly reinvest into the ecosystem every day when it liquidates all of the altcoins.  I would like to be able to include this fact in the news releases and in a promotional blitz.  I would like to be able to announce that the promotional pool of NXT is a considerable amount (say, 200,000 NXT) and will be paid out to random miners at no more than a 10% bonus on top of the NXT that they earn from the pool per day.  This guarantees that for every 1 nxt given out to the miners, that the miners will have had to mine enough altcoins to buy at least 10 worth of NXT with their mining efforts).

This will also need all of your help in doing the promotional blitz - I want to get images lined up, flyers lined up, it will need everyone's efforts to spread the news of NXT to everyone that they know via forums, twitter, real life.  I'd like to know first of all if anyone else is interested in helping to support this?
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salsacz

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #1 on: April 12, 2014, 09:03:22 pm »

I'll help with editing the news releases and sending them to the media sites, crypto sites and forums
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Eadeqa

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #2 on: April 12, 2014, 09:05:29 pm »

Great job on the hashrate.org .

This should be funded

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joefox

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #3 on: April 12, 2014, 09:05:51 pm »

Hey pf,

Would you be so kind as to structure your request in this format?

Your proposal is interesting but it leaves many questions unanswered.

Is your plan to recover the costs of hashrate.org, and then use the remainder to pay bonuses?

What other means of cost recovery do you have in place?

At current rates of payout, how long would the fund last based on the 10% "random" bonus payout you suggest?

Who is going to create images, flyers, etc.?  The Marketing Committee is not set up to take on this work, though individuals MAY offer assistance... so you should include a budget item for this work in your proposal, which you can use to compensate someone for the creation of these things.

Thanks, and nice idea!


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kodtycoon

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #4 on: April 12, 2014, 09:27:35 pm »

Great job on the hashrate.org .

This should be funded

+1
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pf

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #5 on: April 12, 2014, 09:32:29 pm »

I will put together this request in the format you have requested, sure.

The media releases and stuff that I would like to put together would be this package: http://service.prweb.com/pricing/package/financial/
It's $499, and it costs extra to have them assist with the actual drafting and editing of the release as well.
It's the same package that the Blackcoin  folks used to get all of the publicity that their Blackcoinminer.com site got.
  I would want the news releases to highlight the unique features NXT has, go over how it is essentially Bitcoin 2.0 (the Future is Nxt).  The news release would also highlight how there is now an opportunity to be able to mine for NXT for the first time, and even have the chance to win additional NXT coins as a bonus on top of the mining profits.

The site currently is sending out around 10-15K NXT per day to the miners (although if this was anywhere nearly as successful as the blackcoin pool, this would go up greatly).  a 10% bonus on top of that would be 1000-1500 NXT per day, although I wouldn't expect to pay the bonus out to every miner.  I also wouldn't have to be the one to coordinate the actual promotional fund NXT, that could definitely be a third party.  I could send them a nightly export of the miners earnings, and even give them the NCLI.sh script that I use nightly to send out the payments.

I will get together some numbers and stuff once I go through and put together the official request. :) I also expect to have the site ready for mainstream use within just a couple of days.

I have been running the site at 0% fee while it is under development.   Currently it's costing me around $175 a month for the hosting for the various machines that make up the pool (I've been paying those costs out of pocket., it's been very much a learning experience thus far.)  My plans for the pool in the long term are to finish developing a standalone javascript mining application that will be able to be downloaded and used on any computer platform (pc, Linux, mac) that will simplify the whole mining process.  Sorta a simple download and click "start mining for NXT" functionality, without having to have the user know what CGMINER or altcoin mining is or any of that.  Something simple enough that anyone can use. 
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pf

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #6 on: April 13, 2014, 04:32:26 pm »

- revising, will open new thread in correct format -
« Last Edit: April 13, 2014, 08:34:13 pm by pf »
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punkrock

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Re: FUNDING REQUEST - hashrate.org NXT Promotional Fund
« Reply #7 on: April 14, 2014, 08:00:20 pm »

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