Quote from: sxh on July 30, 2014, 06:28:56 AM

Quote from: tinatinh on July 30, 2014, 05:54:34 AM

50% free distribution but the first distribution only 15% ~ 150M

Why 166,666 ORA/stake?

Will everyone receive 2 stake or 3 stake?

This unfair distribution, the great blow to investor confidence.

The ORA distribution is as follows:

50% - distributed equally to ~3000 webapp registration applicants
5% - goes to the registration webapp dev
5% - goes to the dev who clones Qora, and creates the Kora wallet applications
2% - Kora founder
8% - goes to node bot bounties
4% - website & marketing
1% - Qora dev
25% - POWER BOUNTIES

By design we are holding back a lot of assets/coins for later distribution to compensate people for doing things. That's a key part of the ORA experiment. We're trying to get a fair distribution, and just as importantly (probably more), we're trying to get an EFFECTIVE distribution. Effective to me means we have enough stakes left over to motivate & reward people for DOING THINGS. Without an active engaged community of people doing all the tasks needed to bootstrap ORA, we will fail, but who wants to do EVERYTHING for no compensation? A labour of love is one thing, but if somebody works 10-30 hours a week doing great things for ORA I want to give them a chance to get a power bounty, voted by the community.

Because we didn't reach our target of 3000 stakeholders we decided to distribute as if we did (i.e. give everyone 166,667 ORA) and then we'll vote to decide what we do with the left over stakes.

That'll account for 50% of the total ORA given away for FREE. The other 50% will not be sold, so it will be given away, but in exchange for 'doing things'. This is one of the key ideas behind ORA.

IMO an effective PoS coin distribution should end up resembling something like a chess set (which is based on a medieval feudal world). So you end up with something like this:
- a large number of small stakeholders (pawns)
- a small number of large stakeholders (queens)
- a mix of mid range stakeholders (knights, bishops, rooks)

Combine stake with skills and the analogy with Chess is even stronger. A dev with a 5% stake (like Jean-Luc from NXT) is the ultimate 'Queen', well motivated with a large stake & highly skilled. We need to attract 'Queens' to ORA, that is my goal anyway! A dev with a small stake but high skills & motivation can EARN a large stake by offering their time & skills to help us. That can't happen with NXT, as they don't have large community resources to pay people, BUT WE DO!!

The big difference with the Chess analogy is there is no king (i.e. no satoshi, no BCNext ... a starfish organisation). If everyone has an equal stake (i.e. all pawns) there is a very high chance of momentum stalling due to the 'bystander effect', where everybody expects others to do the work. Larger stakeholders have a high motivation due to their self-interest so they are potentially the key to a successful coin. That is the experience from NXT, but in that case the big NXT stakeholders came from an IPO, and there weren't any 'pawns', so people complain about the 'fairness' of the distribution.

In the case of ORA our whales will be based on merit, who does the 'work' as voted on by 'our' community. It's about achieving an effective 'balance' - fair & effective!!

Remember, just like in a game of Chess, every pawn can end up a Queen if they are useful & get to the other side. Every ORA stakeholder has a chance to be a 'Whale' if they do good things for the community and the community of their peers votes for them to receive a power bounty.

I hope that explains things a little better (from my point of view anyway).