Quote from: danosphere on July 19, 2014, 11:40:52 PM

Quote from: pseudonymdude on July 19, 2014, 11:10:00 PM

Thanks for the response.

Could you give any specific examples of how you will use funds to market syscoin? Who will be the main targets of your marketing?

Its hard to call out specific examples right now since there isn't really anything out there like this right now so we aren't sure what it will do and who will take the most interest. Right now I can say that we are looking to target more of the mainstream market, major financial systems, replacing brokers with the decentralized Syscoin network. Replacing centralized storefronts with decentralized markets. Ebay sellers, craigslist sellers (and more markets in that vein that I may be omitting). Also going after data storage warehouses like dropbox and google drive, you can store data on the Syscoin blockchain and you never need to worry if "CompanyX" is still in business or if their servers crashed- its all decentralized.

Is it a lofty goal? Yep. Is it impossible? I don't think so. I don't see any other coin pushing features like this that have actually been delivered (aside from talk, whitepapers, and roadmaps)- we have these ready, and we think they will change the landscape of how financial systems work over time.

I know NXT may have similar concepts but this is not NXT, the features will be more consumable by the normal "Joe User" demographic and we have partners already on board to make those more consumable systems accessible on a larger scale. The name alias feature is another component of Syscoin that will make it much more marketable to mainstream demographics. Send your Syscoin to "danosphere.wallet" instead of "Ssf8675ho48huvnsnoubni34bkiavs94". If users change wallets they can just update their alias, no change needed to those who are sending them funds. Yes we could add a DNS system on top of the name alias system ala Namecoin but we want to wait and see how its used before mandating use cases like that.

Marketing isn't the only thing though, we'll also be hiring some crypto devs to make sure innovation keeps rolling. We know things move fast in crypto, Syscoin should be ahead of the game when it launches with the 4 features we've already completed. We want to stay ahead of the game.

Also we don't know what kind of partners we may work with in the future, some may require compensation. So a portion of funds will be set aside for that as well.

Quote from: pseudonymdude on July 19, 2014, 11:10:00 PM

Are you saying that the holders of the ipo funds will not use any significant percentage of the ipo BTC for personal use not related to syscoin?

This is correct. We'll be holding the majority of it for items directly related to Syscoin- operating, hiring, and marketing costs. We as the developers will take a small portion to recoup the 8+ months of development work (which is directly related to Syscoin) and the rest is going to ongoing costs in a long term sense. This does include our own future development, which is a certainty; but also covering costs for additional devs we hire to expedite that development, marketing, more partners, advertising, etc. We aren't looking to raise more capital in 3, 6, 12months- this is going to be it. The developers are getting 2% of Syscoin but we'll be publishing our wallet addresses and holding these coins, not dumping like some developers do.

I know VIA raised a significant amount of BTC (600+) via their recent presale. How are they disclosing their spending of that fund? We could follow their example if that is what people consider fair.

I would have preferred a more concrete plan/contacts, but I appreciate the honesty. I never mentioned VIA, and, for now, consider it a pump & dump.

So assuming 1400 BTC is left, approximately what allocation for:
% Future Development/operating/hiring
% Marketing to crypto market/crypto companies/crypto players/bitcointalk
% Marketing to wall street/the wealthy but tech-unsavvy

I understand you want to make something cool and have people recognize it and come to you, but most won't understand how it will benefit them. Once you have decent working features and a well-tested product, you will have to push it hard and show companies how they will benefit from syscoin's features.

Obviously, you don't have to answer these questions as people in crypto throw around BTC like its candy, but I'm curious as to how you will respond.

Thanks