1. How would those holding the keys be chosen? Presumably a person's holdings in PIGGY would be a large factor, but would it be the only one? Involvement or support for PIGGY in other ways might count for something as well.
2. How would the multi-sig be structured? If all the community members that hold a key need to sign off, then there is a significant risk of someone getting hit by a truck or otherwise being incapacitated. So presumably some fraction of them would only be required. But if only 1 person out of many needs to concur with the dev team, that's a pretty low bar as well. So we should all understand the "rules" before giving our opinions on the matter. How many community "board members" would hold this veto power? And what fraction would need to concur for the multi-sig to process?
3. You guys have done a good job developing things on a shoestring budget and I commend you for that! For this to work well, I'd urge you to continue with the Roadmap approach and outlining ideas and a vision for Piggycoin going forward. That would help the community in several ways - offering suggestions and feedback, being able to help prioritize, and with this multi-sig proposal, to keep things focused appropriately if you guys did go off the rails or got distracted for some reason.
1. Yes, both of those things I think.
2. We'll have to wait for neurocis to give his input on what kind of scheme he thinks is feasible. I am in touch with him, but he's busy with work at the moment.
3. Thanks, but in retrospect I think we should have been more willing to spend whatever piggies were necessary far sooner to get things done, especially to get the interest rate bug fixed. (Like, we could have offered up a significant portion of the coin's holdings to whomever could fix it.) I did offer some small amount of bitcoin to another dev to get the interest rate fix done, and we waited for him to do it, but it eventually turned out he hadn't done it and had gotten distracted by higher-paying work. Fortunately neurocis stepped up to the plate and found and fixed the bug!
Also we're indebted to our web and Android PiggyBank guy who remade those piggybanks for New PiggyCoin essentially pro-bono. Unfortunately he doesn't seem to want or is too busy to go the last mile to fix the excessive transaction fee bug and the other small annoyances, but hopefully neurocis, kruug or piggydev will be able to fix the fee at least. (kruug, our web guy, is currently busy moving house. PiggyDev is starting his university holidays but I don't know if he'll do anything on PiggyCoin.)
As I think you know, I'm slow to agree to cutting people off from the chance of converting their old PIG even after a year. But a year in crypto is like an eternity at this point, and if they are completely not paying attention, I think there's a point where the community can agree to move on. One last point I'd offer is that if down the line someone did still show up with PIG to convert, so long as there were funds available from this reserve I think they should still be enabled to make the conversion. But if the reserve does get all spent, I think at that point they've lost their chance.
Well, neurocis became the lead dev very reluctantly, so I don't want to burden him with this responsibility for too much longer. (It was me who pushed for a longer swap period last year.)
The other thing you might want to consider, is that it's difficult for most people to verify that these swaps are done legitimately. You'd need a copy of the PIG blockchain and a block explorer for it, I suppose. As PIG is now defunct, you wouldn't really know that a PIG blockchain you get from us or anyone else, hasn't been tampered with, and you'd need to check the block explorer's source code too, and compile it yourself or have a trusted third-party compile it for you. And come to think of it, every swap request really should have been public too, or else we could just claim "The owner of this address claimed his PIGGY!" but send it to an address that actually belongs to one of us. So what I'm saying is, it's a violation of the trustless nature of cryptocurrency to have us just sending money to people in this way. At least if it's sent for bounties claimed, we can more easily account for it and the community can see the work done.
