Quote from: geekeh on September 19, 2014, 11:33:41 AM

Quote from: Monkeys on September 18, 2014, 10:43:03 PM

Quote from: Monkeys on September 18, 2014, 07:03:07 AM

What do others here think of a referral program for Root?

I was thinking something along the lines of community driven referral program.

Perhaps something like a bonus 50 Root for both the referrer and referee for anyone who encourages a friend to download the wallet and load it with at least 2000 Root and stake for at least 2 weeks.

Something like that, though those figures are off the top of my head.

Thoughts?

Anyone have any thoughts on this idea?

Is it too gimmicky?

I feel like it could be a great way to increase activity on this page and to increase the holders of Root.

We could also do a draw for everyone that takes part could go in the draw to win 1000 Root?

Or, if Bitsta wants to get involved we could even do a competition to win a share in Rootex or something??

I think it would be massively abused by people referring themselves (it's not like we can check ID) and after 2 weeks or so, we'd suffer the effects of a high percentage of people dumping all their coins, it would all depend on just what percentage of people became interested enough to hold onto their investment and keep staking it. I don't know how many we'd have to keep, 30% maybe? for it to be an overall gain for the network. I think the numbers you suggested are a bit too generous, people referring themselves would gain 10% which would allow them up to that margin for selling at a loss and still making a profit.

I'd rather any kind of benefit like that be paid in small sums over at least a couple of months, or longer (maybe 6 or 12), more like an introductory rate on PoS like you might get when opening a savings account.

Yes of course it could be vulnerable to exploitation. I was thinking one way to circumvent that might be to have people come on to this forum and declare themselves and their referee, and make public their Rootcoin address. Then, once the two weeks (or 1 month, or however long) had passed the community could agree that the persons are genuine and have fulfilled the requirements, they would get their reward. The reward coins would be held in an escrowed wallet.

Kinda like a community managed escrow so to speak. So, no newbie accounts, and people can only be referred once of course, although they can refer as many people as they like.

Perhaps the figures I suggested are a little too generous, but you need to offer some reasonable incentive for people to take part. I also believe that Rootcoin does have a promising future and that enough people will see that once they have their coins and they will choose to hold them, rather than just dumping once they receive their reward.

Anyways, I would gladly donate a few hundred Root to the cause if at least a couple of other members here would agree to do the same =)