In terms of premining it is not something we want to do. We will need to pay for things such as devs, website hosting and we will need to decide how we fund these initial setup costs, we were thinking donations. We also want to actively drive marketing for this coin so it can raise itself above the rest. That is something we want to discuss amongst the community and see what people would considered fair. I've taken your advice about editing the first post and thanks for the ronpaulcoin example. Your suggestions are much appreciated.
Wondering if an IPO (in BTC) for the HashTag Coin would be feasible while still maintaining the coins financial integrity.
Offer an IPO in a fair publicly ledgered way, using a controlled verifiable premine to reward the initial investors, while keeping the miners motivated to mine the coin?
Would require a budget for all the initial costs: web site hosting, logo/marketing, reward for wallet, coin development, etc.
A similar example for funding a coin would be MSC, maybe we could do something on a much smaller investment scale.
Of course, it would be under the onus of "high risk, high reward, invest at your own risk."
Thoughts on this?
Hi Stew, that sounds like a good way of handling it. Having a transparent and accountable IPO could be a better way to deal with this as well as offering people who aren't miners a way to obtain #coins early on. Keeping the solo-miners on-side is important to us. We want to increase the level of participation and for people to feel like they are able to realistically mine on a standard home computer. To be honest I believe if the coin starts trading it will be worth next to nothing. My other way of thinking to help fund this besides donations which are probably going to be unreliable was to actually let people mine and buy up the coins myself early on. That would at least be fair and open, but your idea seems better. Thanks for your suggestion stew, could you send me a link to how MSC ran theirs?