Quote from: Chronikka on July 15, 2014, 02:18:15 PM

Quote from: coinsolidation on July 15, 2014, 01:58:47 PM

Today we propose Investor Public Mining to the community.

IPM defines a fair way of balancing the interests of miners, investors, developers, and users.

If you are an investor, miner or otherwise interested in crypto currency and Bitmark, please take the time to read the document.

Subject to the communities approval we will implement the IPM pool over the following days.

Feedback and discussion is encouraged, please ask any questions you may have so that we can clarify the document.

Question...who controls the IPM and the Bitmark Foundation?

I like the idea of guaranteed hash power on the network, but ultimately its still centrally controlled, presumably by you.

Not to say that you will be a bad actor because Bitmark stands to gain a lot more if you are good, but who is to say somebody else in the future does not gain access to the IPM? As the community grows so should the IPM and the Bitmark foundation. Eventually I would expect control of them to expand as well to include more than just you. Especially considering 5% of funds from the IPM go to the foundation, there is constant monetary support for the foundation to grow. I think the structure of how the foundation and IPM operates, as well as who controls it should be very transparent.

Follow up question. If it were not to be coinsolidation to control / have access to foundation coins then who?

Someone or some group needs to be trusted in order to have a Bitmark foundation at all and unless a better suggestion is put forward I vote for the someone to be Coinsolidation.

But generally I agree, transparency is the key.