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1/2 of the MC fund already spent | 930k are reserved, so 320,000 NXT remain  
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Author Topic: 1/2 of the MC fund already spent | 930k are reserved, so 320,000 NXT remain  (Read 7346 times)

godt

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Webhosting is about 10$/year and domain too.
I don't trust hosting of $10 a year.
It is reality. Maybe 15 or 20 if you are in expensive company.
« Last Edit: May 11, 2014, 06:48:06 pm by godt »
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godt

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Webhosting is about 10$/year and domain too.
I don't trust hosting of $10 a year.
How many website do you run ?
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wesley

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25k NXT for QTBC for what ?

For http://www.nxtcommunity.org/ ?

And I think she also runs the twitter and facebook pages (not sure about it though)
Webhosting is about 10$/year and domain too.
I ask again. We pay 25K NXT for what ?

Design, adding new content, upkeep, converting entire to drupal, social media management, being there at a moment's notice to take care of things, ...
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godt

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25k NXT for QTBC for what ?

For http://www.nxtcommunity.org/ ?

And I think she also runs the twitter and facebook pages (not sure about it though)
Webhosting is about 10$/year and domain too.
I ask again. We pay 25K NXT for what ?

Design, adding new content, upkeep, converting entire to drupal, social media management, being there at a moment's notice to take care of things, ...
Design - 10-15K NXT is fair price for this design;
Adding new content - ordinary work;
upkeep - 0 NXT;
converting entire to drupal - about 4 hours work max. (once) - 4K NXT
social media management - <1k NXT
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Damelon

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Re: 3/4 of the MC fund already spent
« Reply #24 on: May 12, 2014, 10:28:33 am »

+ 25k/month for QTBC - if it will be for 12 months, then: 12x25k= 300.000

So remaining (non reserved) funds of the MC are: 353,760 NXT

AFAIK (as I made the proposal), this was for the coming THREE months, not 12.
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Damelon

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25k NXT for QTBC for what ?

For http://www.nxtcommunity.org/ ?

And I think she also runs the twitter and facebook pages (not sure about it though)
Webhosting is about 10$/year and domain too.
I ask again. We pay 25K NXT for what ?

Design, adding new content, upkeep, converting entire to drupal, social media management, being there at a moment's notice to take care of things, ...
Design - 10-15K NXT is fair price for this design;
Adding new content - ordinary work;
upkeep - 0 NXT;
converting entire to drupal - about 4 hours work max. (once) - 4K NXT
social media management - <1k NXT

Sorry, but am butting in here.
This discussion has been had one and a half months ago and was open for two weeks, ample time to post this if you felt this way: https://nxtforum.org/completed-applications/%28mc%29-proposal-to-immediately-fund-qbtc!/

You were already around at that time, so why post this now when the decision was made a month ago?

Also, QBTC does FAR more that you see on her site. As stated above, she has been hosting and working the social media for over six months now. She búilt our network of users ánd she continues to do so.

The only thing that she does not do is advertise this, because she doesn't want to. We dó and on that basis decided to fund her. You can see in the tread what she does and it's still not a complete list.

A lot of our funds have not been spent on short term projects, but on long term ones, so if it looks like we spend 2 million Nxt in three months, that is just not true.

Wiki support 300,000: 12 months
Faucet: a tool to use for as long as we will use it 25,000 (look up the faucet in approved, it's not your average faucet, but a very useful tool)
Bounties for conferences 110,000: Essential for visibility
Bounties for Speakers 600,000: for six months and *only* paid out when the speakers meet very strict requirements.
Bounty for the complete branding by Ideenfrische 100,000 (a bargain!): usuable as long as Nxt needs it.

All these bounties are long term. Disagree if you like, but we feel them to be very constructively spent.

Also: the Marketing Fund Committee is not mandated to spend the Nxt by itself. We only spend them on projects that are submitted to us. That is a returning confusion, but it was voted on by the entire community: https://bitcointalk.org/index.php?topic=423241.0




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allwelder

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MC need morefund for promotion
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TeamWealth

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MC need morefund for promotion

The question is, where would that money come from? One of the original stake holders feeling generous is really the only thing i could think of.
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Fatih87SK

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I liked the idea that the forging reward of a stakeholder could be donated to the MC.

But the stakeholder is the one who can agree on this.
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TeamWealth

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This is quick math, this may be off a bit. Based on the stakeholder has 50 million NXT so we have some easy round numbers for math and 50% of the 1 billion of NXT is forging.

It would be 10% of total NXT on forging, So 10% of all blocks.

In the past 100 blocks there has been 1201 total fees, 201 from normal transactions one from an asset on the AE.

Assuming about 800 blocks per day at 1201 NXT per 100 blocks so it would be about 9608 NXT per day so at 10% of it would be about 961 NXT per day at current rates over the past 100 blocks. Of course the vast majority of that comes from a asset being issued so the majority would probably be alot lower.

Im not sure that would be enough to get a decent amount to fund the marketing committee.

Remember this is taking alot of of stuff into assumption, i have no idea how much total NXT is being forged with so its a massive assumption, The only thing with real data is from the past 100 blocks fees.
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jl777

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This is quick math, this may be off a bit. Based on the stakeholder has 50 million NXT so we have some easy round numbers for math and 50% of the 1 billion of NXT is forging.

It would be 10% of total NXT on forging, So 10% of all blocks.

In the past 100 blocks there has been 1201 total fees, 201 from normal transactions one from an asset on the AE.

Assuming about 800 blocks per day at 1201 NXT per 100 blocks so it would be about 9608 NXT per day so at 10% of it would be about 961 NXT per day at current rates over the past 100 blocks. Of course the vast majority of that comes from a asset being issued so the majority would probably be alot lower.

Im not sure that would be enough to get a decent amount to fund the marketing committee.

Remember this is taking alot of of stuff into assumption, i have no idea how much total NXT is being forged with so its a massive assumption, The only thing with real data is from the past 100 blocks fees.
Forging revenues will not be enough to fund significant marketing activities. Forgings main purpose is to secure the NXT network, it will probably stay in the 1% per year range.

I think that NXT is entering a new phase...

Marketing needs to shift from a donation based model to a services model. There are now many companies on NXT AE, and they will gladly pay for marketing, especially if it is performance based. By promoting the various NXT companies, it in turn promotes NXT.

Why not form a NXT marketing company? Raise funds, charge for services.

James
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Eadeqa

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MC need morefund for promotion

The question is, where would that money come from? One of the original stake holders feeling generous is really the only thing i could think of.

Can we organize a donation campaign? If everyone puts a small amount, it might add up


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pf

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Why doesn't the MC invest in mining hardware and then mine for NXT with it?  Keeping all the profits from the hardware for the MC?

It would help ensure that the MC is a MC going forward.  Like one or two of the ASIC scrypt miners or something.
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joefox

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Why doesn't the MC invest in mining hardware and then mine for NXT with it?  Keeping all the profits from the hardware for the MC?

It would help ensure that the MC is a MC going forward.  Like one or two of the ASIC scrypt miners or something.

Why don't you invest in mining hardware, and give the MC your profits?  :)

I suppose we could look at it, but it has to be ZERO risk.  As stewards of the marketing committee funds, it would be irresponsible of us to put the community's Nxt at risk.  The venture would have to be guaranteed profitable., and the cost of hardware is not inconsequential.

One way to force the debate would be to put in a funding proposal.  At the very least it would give us a chance to look at the numbers and to vote on the idea after some discussion.

I can grind some numbers and create a proposal; you could help me review it.
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ChuckOne

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The Charity Hub proudly presents 20.9 NXTs to the Marketing Fund. Where to send?

https://nxtforum.org/news-and-announcements/chuckone's-hub/msg47721/#msg47721
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joefox

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The Charity Hub proudly presents 20.9 NXTs to the Marketing Fund. Where to send?

https://nxtforum.org/news-and-announcements/chuckone's-hub/msg47721/#msg47721

YAY! 

The keys to the MC Fund account are held in trust by neer.g, and the account address is NXT-RBR6-EFX3-TSSA-7SXEX.
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pf

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Why doesn't the MC invest in mining hardware and then mine for NXT with it?  Keeping all the profits from the hardware for the MC?

It would help ensure that the MC is a MC going forward.  Like one or two of the ASIC scrypt miners or something.

Why don't you invest in mining hardware, and give the MC your profits?  :)

I suppose we could look at it, but it has to be ZERO risk.  As stewards of the marketing committee funds, it would be irresponsible of us to put the community's Nxt at risk.  The venture would have to be guaranteed profitable., and the cost of hardware is not inconsequential.

One way to force the debate would be to put in a funding proposal.  At the very least it would give us a chance to look at the numbers and to vote on the idea after some discussion.

I can grind some numbers and create a proposal; you could help me review it.

I wasn't offering to host the hardware, although I am thinking of starting to offer that for miners if they are interested at all.  Mining hardware is as close to a guarantee of future profitability as you can get.  Those gridseed blade miners are down to $800 if i recall, and they're still bringing in nearly 0.01 BTC/day (so it take a while to ROI, but after that it would be a good way for the MC to have an ongoing amount of NXT to be able to spend on marketing).  I suspect that as the price goes up, donations may go down (due to human nature and all, although I could be wrong about this)
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joefox

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I wasn't offering to host the hardware, although I am thinking of starting to offer that for miners if they are interested at all.  Mining hardware is as close to a guarantee of future profitability as you can get.  Those gridseed blade miners are down to $800 if i recall, and they're still bringing in nearly 0.01 BTC/day (so it take a while to ROI, but after that it would be a good way for the MC to have an ongoing amount of NXT to be able to spend on marketing).  I suspect that as the price goes up, donations may go down (due to human nature and all, although I could be wrong about this)

I had a casual chat with my marketing committee cohorts about this and we're not convinced the risk is worth the reward, but I will crank some numbers out and we'll take a look.  Purchasing and operating hardware is only on alternative.  We could also hire cloud miners, or simply invest in assets like nxtgenKHS.

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valarmg

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I wasn't offering to host the hardware, although I am thinking of starting to offer that for miners if they are interested at all.  Mining hardware is as close to a guarantee of future profitability as you can get.  Those gridseed blade miners are down to $800 if i recall, and they're still bringing in nearly 0.01 BTC/day (so it take a while to ROI, but after that it would be a good way for the MC to have an ongoing amount of NXT to be able to spend on marketing).  I suspect that as the price goes up, donations may go down (due to human nature and all, although I could be wrong about this)

And what if the value of Nxt goes up? I seriously doubt that mining returns are as guaranteed as you think. The return on holding Nxt could easily be higher.
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CryptKeeper

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I'm a miner of scrypt and sha256 since nov. 2013, I know the risks and all profitability calculations.

IMHO community funds should not be invested in such matter. You loose flexibility to fund any interesting projects because the nxt are tied to the mining rigs for a long time and it takes too long to break even, if ever!
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