That's why donating is not really selfless. See it as a tiny investment to give TacoTime the chance to make his plans real.
If you're already a Bitcoin millionaire then you should fund the entire project yourself and receive a medal.
My system of badges and medals would encourage everyone. It would encourage those who act out of self interest and those who act out of Philanthropy as I can think of circumstances where I would donate. The point is I should never be punished for my actions in support of a cryptocurrency. This is why if you do something positive you should receive an immediate reward in the form of a medal of honor or a badge of honor.
What your medal is worth to the community is decided by the community but it is worth something. If you donate and receive no medal for your selfless bravery then it's basically worthless and that is what makes it unreasonable. You should expect to be rewarded for your actions and it should not be just throwing money blindly or donating to something which could take your money and fail. You want should get something out of your act regardless of what happens to this project.
I propose if you and others like you decide to donate then you should get a medal which would be recognized throughout the Bitcoin community. This at least gives you status and recognition which is perhaps the true motivation behind the Philanthropy for most people even if it isn't for you. The point is to reward the behaviors we want to encourage them long term using the incentive mechanisms and the IPO method is proven effective, Kickstarter as a model is proven, donations? People have been donating to feed hungry African children for many decades and the money never seems to get to the children because the vast majority of people act out of self interest and not altruism. We have to design the incentives around the majority of people who will think "why should I just give this guy my hard earned precious Bitcoin?", because the guy who only has 2 Bitcoins isn't going to donate 50% of his holdings unless he can end up with 3 or 4 Bitcoins or more.
But we want to encourage the behavior in the community so that everyone is all in, everyone is invested, everyone has aligned their self interest to cryptocurrencies whether Bitcoin or not, and the way to do that is to simply reward the risk takers, the early adopters, the people who go all in, the people who are willing to selflessly sacrifice themselves. There should be several reward mechanism, money is only one and prestige/status is another. For example if you donate to the cause and receive the medal then perhaps you should get exclusive access to mailing lists, clubs which give you time sensitive information on when the next ASIC is coming so you can pre-order and other stuff like this.
For people who invested they should get a fair and decent profit and the chance to double their investment. They would receive the investor badges depending on how much they invested, and they would be owed that much. I honestly think that is fair.
The Bitcoin model worked for 2009 when no one knew what cryptocurrencies were. By the time this cryptocurrency starts up everyone already knows what they are so everyone wants to be an early adopter and people are willing to pay money to do it. Why not make people pay for that status up to say $100,000 worth or up to a certain amount in Bitcoin and it wont be a pre-mine, it wont be unfair, people who were willing to pay for the privilege early on should be the people who get it. It's just you cannot expect an endless supply of Satoshi's, programmers like that have to be paid and also there isn't going to be enough time to develop all future cryptocurrencies at the rate Bitcoin was developed. We should be streamlining things so that the incentive mechanisms continue to become more efficient because that produces a better launch and a better coin.
