So here's a something to think about. If we get close to 20 million what should we make the cap? I would think that anyone that would invest in a crowd sale would have to receive an substantial amount of OCTOPARTY in order to trust that the burn holders in charge of 20 million don't have an out of balance % of the total coins. Then if you factor in any coins to hold for paying out to devs, paying bounties, promotions, etc., you have to keep it at a fairly low % level. I think you have to look at it in the form of a premine. If it's a small % most consider it acceptable if the distribution is transparent. Now we don't have to hold any of that. We could just pay that out from the burned coins. We already have an anonymous donor that will burn 250,000 to be used strictly for devs and promotions.
We also need to consider the return price based on the cap. We could even do it at a lower ratio than 1:1. If the goal is to keep the cap fairly low and you have 20 million octocoins burned then the ratio may have to be less than 1:1 burned in order to have the crowd sale coins balance it out.
Based on the name Octo and the 888 ticker in some form would we want 8 mil, 88 mil, 888 mil? Keep it the same as Octocoin and do 88,888,888?
Interesting to think about.
XCP - current coins - 2,646,359 - current price: $ 1.99$ - current market cap: $ 5,266,095 - counterparty platform
SWARM - current coins - 99,945,431 - current price: $ 0.010260 - current market cap: $ 1,025,400 - crowdfunding
SJCX - current coins - 41,464,404 - current price: $ 0.024744 - current market cap: $ 1,025,991 - distributed cloud
GEMZ - current coins - 88,135,367 - current price: $ 0.019102 - current market cap: $ 1,683,518 - encrypted mobile messaging
XCPSCOT - current coins - 1,000,000,000 - current price: $ 0.000095 - current market cap: $ 95,072 - country coin
FLDC - current coins - 109,000,000 - current price: $ 0.000410 - current market cap: $ 44,729 - distributed computing for disease research.
Where do we want OCTOPARTY to fit in with other top assets?
Also we could consider cross marketing with these assets. I know ScotCoin said they were interested. They also cross promoted with FoldingCoin recently and got media attention. They donated a portion of their coins to be distributed as payment along with FoldingCoin when users donated computing towards disease research. That might be something we consider to do to help get our coin spread out to other asset holders that won't know about that.
http://foldingcoin.net/2015/01/announcing-scotcoin/https://letstalkbitcoin.com/forum/post/scotcoin-joins-merged-foldinghttp://scotcoin.org/There are roughly 40 million 888 that have been mined, at this point. Even if we created 40 million OctoParty, we would still have the lowest coin total in comparison to the other assets tied to CPY at this time. Any OctoParty (regardless of the amount created) not redeemed during the burn period could be placed in a multi-sig wallet and used for promotions, giveaways, bounties, dividend payments, and, lets not forget, the crowd sale to help fund the various projects. Or we could set aside a certain number for each of the areas listed above and distribute the remainder to everyone who participated in the burn as a bonus for getting things going.
I arrived at the 20 million figure as representing approximately half of all OctoCoin in existence. Even though the devs have been MIA for quite some time, I have seen many of the "old-timer" OctoManiacs posting recently, so that leads me to believe that we will see at least half of the coins out there burned... maybe much more.