Post
Topic
Board Altcoin Discussion
Re: Who could be trusted to do governance?
by
AusKipper
on 26/02/2017, 22:36:37 UTC
1 - Allow the development team to (heaven forbid) pre-mine some coins for themselves, they get paid when they make them worth something

I am also coming to the conclusion that is the only way to do it because all other ways appear to be illegal. And that was my original plan in 2014, but was told by everyone that premine was horrible. Yet I've come to realize that every project was premined, even Bitcoin and Monero. There was always some limited number of people who were mining with huge resources at the very start when the difficulty was miniscule.



Yep, The issue here, as you obviously know:

- When the coins are still worthless at the start, and you really need money to pay developers, you have none.
- Once its gone, its gone.

I still think, despite the issues, the first idea I posted is the best long-term (Dash style mining percentage, voting system)

If you wanted to you could bake in a percentage reduction over time, ie, 10% (Dash) goes to the treasury initially, reduced over time till you hit .001% after an amount of time (10 years?)
 and then its sits steady there forever.

Votes on treasury spending should be divided between both miners and wallet holders in a balance that you would know better than me.