Quote from: 8-bit-Party on September 09, 2015, 07:52:42 PM

Quote from: CryptoClub on September 09, 2015, 06:47:19 PM

I believe by address, yes, but Dan Conway should have more information explaining exactly how that works later. Obviously anyone could buy Expanse and vote with their expanse, but the initial reserve for the team will be publicly available with addresses. We will definitely be holding most and only selling small amounts as needed. The design is such that we believe we can increase the value over time for traders and miners, and of course for the team.

Well those funds will cover initial development costs at launch so I guess they will not frozen anyhow. It means that for many many months whole reserve will be FULLY controlled by core team.
If you want a community fund, release (hardcoded block reward & recipient) those funds a year (or even more) after genesis. Otherwise it will be 90%+ premine like many others. I have removed math from this post to do not create a FUD, however, current model looks really bad.

As for the reserve, 90% will be locked and released slowly over time no matter what, and this will be controlled by the Expanse Organization as a whole, not just the team. The time frame for this could be one year, five years, or whatever the community thinks is best. I personally think one year isn't long enough as it is likely funds will be spent as available on bounties and this could create an issue a year down the line, even if it is a year away. Although it is possible POS or something else might be implemented later, or perhaps voluntary mining percentage going to the community fund later. This would be up to the Expanse Organization as a whole. I personally prefer keeping it proof of work as many might not find out about this until years later, and I would like them to be able to mine it even then, but that is just my own view.

We are certainly open to suggestions on what time frame the community funds should be dispersed over, and it is critical that the community has control of them as laid out in the Organization plans. That is the point of smart contracts and having everything transparent.