Ricky I would appreciate if you return the NXTcashoperatingfund to me because I decided to give this 1M NXT to a common fund the early adopters/big stakeholders committee will form (official announcement in the following hours) so it can be handled by the community for various projects (including anonymity features) - better to do it more officially rather than James handling the whole chunk, I am sure he will agree..
EDIT: The community should be aware that a big part of the early adopters will ONLY fund from now on in this way - the committee is made exactly for this reason, transparency, fairness and optimal management of resources (both ours and the community's).
Of course, if some insidious large NXT holders wanted to ensure your scenario, all they would have to do is offer a matching donation of NXT to the mining outputs.
I think just a % above to ensure highest ROI would do the trick, and be sustainable for the longest period. Then again, I might just be thinking this way because I'm already completely jealous of those of you who can mine in these NXT pools.
I dont like hearing about mining related to Nxt.But i just consider it automatizing a way of people buying Nxt with their resources.We should think if Nxt mining should be encouraged. If yes.. this idea is quite similar of what nodecoins was supposed to do,but in a different way.It would be a special giveout of some Nxt,as imo we are still in the IPO, although people dont see it this way.
PROPOSAL TO STIMULATE NXT MINING POOLSA fund is created,with a certain amount of Nxt.For example a fund commitee creates and manages a Nxt account xxxxxxxxxxx, with 500.000 Nxt(any number).Also anyone can support it by donating money to that account.
All those Nxt will be distributed to everyone who has mined in a certain period,from April 1st to April 30th for example, in proportion to how much they have mined.That would be done by sending the Nxt to the pool owners,who can pay it accordingly,as all the workers and how much they mined is public info.
If you mined 0,1% of the total Nxt mined ,you would get 0,1% of the added Nxt too.
This would increase the ROI for mining here,making these pools the most profitable(by far depending on how much is donated), and bringing a lot of people to Nxt> Lots of miners> more Nxt bought every day>buy pressure> price increases. It would also put Nxt in everyones mouth and bring hype.
I have no idea how much people can this bring,but if it did success in introducing Nxt to a lot of people,the increase in the price could be significant.
Some people may think its unfair to subsidize this,but it is a private project,and could be a nice way to let initial stakeholders give out some Nxt, that could be distributed to hundreds(i hope thousands) of persons.
For anyone who has been into poker,this would be like a Rake race.It brings players to a poker room,and make them play as much hands as they can competing between them,because the more you rake you generate,the bigger the prize you will get,although in this case the payout would be lineal.
If we can optimize how many Nxt to giveout,we would bring the most competitive miners in the world to Nxt.And this doesnt punish small miners in any way(their ROI is never reduced).And even if many of them sell their Nxt after, they could never sell more than what they have generated and has been bought by the pools,so it cant be EV- in the long term.
Ive created this thread to discuss.
https://nextcoin.org/index.php/topic,4487.0.htmlIf you sibsidize the pool to make it the most profitable you have to consider the likely scenario in which those droves of pump and dump selfish miners come by for the free lunch then just sell all the nxt to btc on their way out the door.
