Flip the Table?
So what possibilities exist regarding handing over Startcoin (SC) to the community? I have an idea that is simple and easy to administer. Instead of focusing on using a volatile crypto (SC) to fund projects we could encourage projects to offer rewards in SC to community members that backed their project. In order for this to work we would need to create a community culture that is biased towards financially supporting projects that offer a decent SC reward. Imagine projects having a far greater chance of getting funded if they offer a 10% SC reward (something like 10 cents worth of SC for every dollar a backer contributes). The project lister would be trusted to send out SC to backer's addresses (posted in project comments section by backers) at the close of a successful funding and if they did not it would obviously hurt their reputation. Obviously if the project lister needs to raise $100 they should ask for $110 to cover reward plus project funds. Although it may be encouraged by the community to favor projects that can show they have the coin beforehand.
The more strongly we assert this community culture and be supportive and consistent in funding projects that offer SC rewards the more evident the utility of SC will be! In addition to creating SC utility we increase transaction volume and get newbies to download a wallet and obtain a few SC. Assuming the platform is a success, future would be entrepreneurs might see it wise to hold a little SC so they can be ready to list a project in the future. As the price of SC rises to more respectable levels (could we see $0.05 again?) those of us with lots of coin will find it easy to fund projects by donating directly or by converting a small amount of SC to donate but until then we would need bitcoin or paypal or some other means of backing projects (so it would not make sense to integrate currently worthless SC absent other payment methods). Lastly, I think the simplest and most beneficial thing to do with the premine would be to BURN IT. For these ideas to be effective, however, would require the community to undertake a serious attitude adjustment. Or maybe I am violating some law of economics I am unaware of and it would not work....What do you think?