Donations are fine with me! What I want to avoid is taking funds off people to pay for development costs. If you are starting a real world business then start-up costs can be high, but starting a crypto coin has very few real world costs, so IMO the best way to fund development is to offer the people doing the work a development share. It's just like a stock option, and as many believe bootstrapping a POS coin is very similar to a startup company, to me it makes sense to borrow from successful start-ups. How did Microsoft, and Apple, and Google, and FaceBook etc motivate & reward their early employees? They give them stock options.

I'm not sure about pledges though. I know utopian was very careful with his 'call to participate' wording, but I'm not certain regulators wont class the NEM fundraising as an illegal security sale, and UP might end up in hot water like Erik Voorhees.

I think I can bootstrap Kora using my own funds to a point where it looks promising enough that a 1% 'power bounty' starts to look like a decent amount of money. Once a few people commit, it becomes a snowball, and then donations become a useful additional source of funds too.

It's an interesting question. Given that Kora will start off as just an 'idea', and it'll first exist as a token on the NXT AE, how much money will it cost to bootstrap? My guess is practically nothing. Once we have the list of stakeholder names, the rest is 'pure potential', and IMO Kora will have value, but no costs. Look at NEM, it has value from its obvious potential, but they have real costs as NEM has moved away from being a straight clone of NXT, but UP probably could have assembled his team without the need to collect the bitcoin 'call to participate' amounts

I'm paying for the registration webapp costs out of my own pocket, and the dev (MacRed) will get a 5% share which is fair as he is the first to contribute his time when really nothing exists yet, so he is taking the biggest risk with his time.

I have no guarantee that Mac Red will stick around, and I wont pressure him to at all, but if he looks at the top 20 positions on coinmarketcap, and picks a spot where Kora *might* be in 6 months, and then he calculates 5% of that marketcap, then my guess is he will instantly feel some motivation to contribute in some further way to Kora, even if just as a regular on the forum.

He'd probably see it as rational self-interest to even consider giving away some of his Kora coins to help the cause if it meant his remaining stake actually increased in value.

That's the lesson from NXT. BCNext created about 8 people who had 5% stakes in NXT, and those people became super motivated to make NXT succeed. Other stakeholders were motivated too, and that bootstrapped NXT to its current successful position.

BCNext took money though, so it's good he disappeared as I bet one day the SEC would like to have a chat with him.

OH, and if it is not a human, but a business, or a legal entity, that is when we go to the Asset Exchange...

or maybe I am not thinking straight. What if a business does not want to be traded?  Some form of business account will be needed.
 Mabye a business account is an account that starts without any funds inside it?

It' just a limited at time solution to unequality of managing capital.

I suppose, humanity can and should eliminate unequality of base capital, for that purpose egalitarian cryptocoins — almost perfect option. PoS-systems meanwhile solving issue of too high capital. But unequality of managing capital'll stay and we need to deal with it.

World with money can't be perfect. (c) And money represents relative nature of value — there'll always be economics behind anything.

I can think of two potential options that might address this Pentamon.

1- Automated distribution using a DAC (distributed automated corporation)
2- Identity escrow services & trust accounts

Both options could potentially keep distributing coins into the future on the basis of identity verification using the principal of 'one human one stake' which is the ultimate solution for a POS crypto coin.

The infrastructure already exists for the second option (sort of), but I much prefer the first option.

I really believe a distribution DAC could be created that is able to verify a new 'human' identity, distribute coins to a new account, while keeping the users identity secret, and upholding the integrity of the coin supply (i.e. coins can't be hacked, and only get created/distributed after a valid NEW application from a newborn 'human').

Once released into the wild, the distribution DAC would exist on the internet as a P2P application for as long as people were running the software, and if the coin was 'trusted' and used, it could last for ever in theory. 100% decentralised global currency distributed using mathematically verifiable fair principles - 'one stake for one human'.

It really is an inspiring idea, and IMO  possible quite soon. Maybe this coin could be launched on top NXT, who knows, but I think that is theoretically possible!

I believe this will happen (distribution DAC's) with the same degree of certainty for my belief that humans will one day walk on Mars. For both of those beliefs I'm unsure of 'when', but I'm certain both will happen.

qora clone,another fair coin？

glad to see this thread to become more and more interesting

any news?

Been working on the reg app for some time now and it should be finished soon.
Currently doing some testing and minor tweaks. I've contacted Kora to discuss more details. You can probably expect an update shortly!

No, we don't need to wait for the Qora source code to be released before launching Kora.

The registration period will open soon, and once we have the list of stakeholder names & NXT addresses, we will issue Kora tokens on the NXT AE.

Kora will be launched, and traded, well before the Qora source code is released.

I've seen the progress Mac Red has made on the registration webapp, and I'm happy to report it is excellent!!

Stay tuned for more news soon!