Re: [ANN] BEAM | Mimblewimble | Private | Scalable | No ICO | No Pre Mine
Here is my take on the Beam founders reward, initially as a neutral miner - I took all of the following points into consideration when i decided to start mining Beam. For simplicities sake, lets call it 'the fund'
The fund is not a perpetual tax, it is a block reward which accumulates from miners rewards and is dispensed on a quarterly basis for the first 5 years only. When considering this, I weighed the difference between this method and if it had been taken as a perpetual 'fawcet' from each block directly into the treasury fund.
The method used is preferable due to the fact that these funds (once every 3 months) will need to be utilised by the company for the entire three months until the next fund emission occurs. This means that the company will not just 'dump' those coins in one large selloff, once each 3 months... they will need to keep a float to stay in business and this is the float they have decided to use.
As startup companies always require capital to cover running costs... the fact this business is not a consumer product produced by the company, and that it is an open-source cryptocurrency freely available to mine by anyone with GPU mining rigs, makes it all the more difficult for the company to ensure ongoing funding. They too can mine Beam, but they also pay the same amount as an average of mining costs if they do so. It's fair game.
The fund is there to pay for continuing evolution of the mimblewimble protocol and the 'growing up' of Beam as a cryptocurrency and a store of value asset.
Nobody is going to hold your hand or push you to mine Beam, that is your choice entirely and the things i mention above with regards to the fund, to me, are decent methods of keeping a float for the running of the business. I am looking to invest in mining an asset with a long-term value. I appreciate that the fund will be spent to cover costs, and i wholly value the work that the developers are doing, as well as commitment to the roadmap which has been published.
I am keen to debate these points with anyone who wishes to share their own views on the matter, but please refrain from posting links to other projects, in this thread.
The fund is not a perpetual tax, it is a block reward which accumulates from miners rewards and is dispensed on a quarterly basis for the first 5 years only. When considering this, I weighed the difference between this method and if it had been taken as a perpetual 'fawcet' from each block directly into the treasury fund.
The method used is preferable due to the fact that these funds (once every 3 months) will need to be utilised by the company for the entire three months until the next fund emission occurs. This means that the company will not just 'dump' those coins in one large selloff, once each 3 months... they will need to keep a float to stay in business and this is the float they have decided to use.
As startup companies always require capital to cover running costs... the fact this business is not a consumer product produced by the company, and that it is an open-source cryptocurrency freely available to mine by anyone with GPU mining rigs, makes it all the more difficult for the company to ensure ongoing funding. They too can mine Beam, but they also pay the same amount as an average of mining costs if they do so. It's fair game.
The fund is there to pay for continuing evolution of the mimblewimble protocol and the 'growing up' of Beam as a cryptocurrency and a store of value asset.
Nobody is going to hold your hand or push you to mine Beam, that is your choice entirely and the things i mention above with regards to the fund, to me, are decent methods of keeping a float for the running of the business. I am looking to invest in mining an asset with a long-term value. I appreciate that the fund will be spent to cover costs, and i wholly value the work that the developers are doing, as well as commitment to the roadmap which has been published.
I am keen to debate these points with anyone who wishes to share their own views on the matter, but please refrain from posting links to other projects, in this thread.
I am indeed, still looking for some kind of adult discussion on this matter if anyone can bring themselves to it...
You explained in details as to how the fund is going to be utilized. I fully agree with your standpoint and what being said makes quite sense to me, no need to further discuss IMO. The thing will be whether this is going to actually happen or not. If BEAM team can issue quarterly summary of fund spending, that will convince people.
this forum has indeed: gone to shit. 
This forum is not going to shit because of one or few noobs .