Quote from: tr8kr on November 14, 2018, 02:47:56 PM

Quote from: VeilDango on November 14, 2018, 10:47:22 AM

It's higher than some mineable cryptocurrencies, so I understand where you're coming from. But cryptocurrencies that don't have budgets also don't have large structured teams that can ensure the project is developed and marketed properly.

To address possible issues stemming from a large budget, we will be making transparent budget reports so that the community can ensure we are wisely using the funds. Our goal isn't to simply spend funds because we have it, but to only use it if we consider it good for the project and if it is a cost-effective use of budget, otherwise the budget should not be spent.

Why not give 100% of reward to miner and minter the first year to lets grow interest and hashrate looking for eventual update after making the blockchain working with a small starting premine vested and locked without crucial expense and follow with a smaller % reward after the first year.
Dont overlook that this fund taken from the miner and staker are gonna increase selling pressure on a young project.

That's a viable option, but it would have the disadvantage of less budget. If we use the budget wisely and cost-effectively, the returns should exceed the expenses. In other words, we intend to use the budget only if we feel it will have a net positive impact on the value of Veil.

Miners and stakers also can sell, and I wouldn't say the people/entities paid from the budget would necessarily cause more selling pressure than miners and stakers.

It is not our business what others do with their Veil, but we also would prefer if those receiving budget payments are more likely to save their Veil so that there is less selling pressure. In order to reduce the likelihood of budget payments resulting in selling pressure, we always try to look into the possibility of paying with Veil, as opposed to fiat, BTC, or ETH. Additionally, when paying in Veil, we do factor in the likelihood that the recipient believes in the project and may save some of their Veil (everyone has expenses!), or if they will just sell all of their the Veil, to help us decide whether or not an expenditure should be made and how much.