hi guys,
I wanted to ask for feedback/discussion about the funding model we are considering for bitsquare.io (P2P Fiat-BTC exchange):
Overview of the model:
- We ask the community for BTC donations for supporting the development of the P2P exchange.
- The funds go to an non-profit organisation which manages the project development.
- The NPO has a democratic, transparent and open structure; new devs are welcome.
- The NPO uses the funds for paying the developers/contributors.
- There is a continuous deployment process so the sponsors can see the progress
- There are several rounds for each reached milestone (e.g. every 1-2 month) where only the needed amount for that period will be collected. When reached the target the round will be closed
- When the software is published the sponsors will receive the trading and registration fees. - The algorithm for the selection will privilege early sponsors. If the project will be successful the sponsors might get more money from the fees then they have donated initially.
- It is important that it is communicated as donation model not as investment! We cannot guarantee that the intended model will be implemented like planned (legal, technical, conceptual issues might cause a change). Also to promote it as investment would cause legal issues (would be considered as shares of a public company)
The concept is described here in more details:
https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc/
br,
Manfred
Resources:
Webpage:
http://bitsquare.io
Github:
https://github.com/bitsquare/bitsquare
Whitepaper:
https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY
Overview:
http://bitsquare.io/images/overview.png
Video of the proof of concept prototype:
https://www.youtube.com/watch?v=ByfnzJzi0bo
Payment protocol:
http://bitsquare.io/images/paymentProtocol.png
Risk analysis:
https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
Arbitrator system:
https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/
Funding model:
https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc
Old bitcointalk thread (BANKRUN!):
https://bitcointalk.org/index.php?topic=462236
::
[unSYSTEM] bitsquare.io funding mod…
:%0A>%20%0A>%20Overview%20of%20the%20model:%0A>%20-%20We%20ask%20the%20community%20for%20BTC%20donations%20for%20supporting%20the%20development%20of%20the%20P2P%20exchange.%0A>%20-%20The%20funds%20go%20to%20an%20non-profit%20organisation%20which%20manages%20the%20project%20development.%0A>%20-%20The%20NPO%20has%20a%20democratic,%20transparent%20and%20open%20structure;%20new%20devs%20are%20welcome.%20%0A>%20-%20The%20NPO%20uses%20the%20funds%20for%20paying%20the%20developers/contributors.%20%0A>%20-%20There%20is%20a%20continuous%20deployment%20process%20so%20the%20sponsors%20can%20see%20the%20progress%0A>%20-%20There%20are%20several%20rounds%20for%20each%20reached%20milestone%20(e.g.%20every%201-2%20month)%20where%20only%20the%20needed%20amount%20for%20that%20period%20will%20be%20collected.%20When%20reached%20the%20target%20the%20round%20will%20be%20closed%0A>%20-%20When%20the%20software%20is%20published%20the%20sponsors%20will%20receive%20the%20trading%20and%20registration%20fees.%20-%20The%20algorithm%20for%20the%20selection%20will%20privilege%20early%20sponsors.%20If%20the%20project%20will%20be%20successful%20the%20sponsors%20might%20get%20more%20money%20from%20the%20fees%20then%20they%20have%20donated%20initially.%20%0A>%20-%20It%20is%20important%20that%20it%20is%20communicated%20as%20donation%20model%20not%20as%20investment!%20We%20cannot%20guarantee%20that%20the%20intended%20model%20will%20be%20implemented%20like%20planned%20(legal,%20technical,%20conceptual%20issues%20might%20cause%20a%20change).%20Also%20to%20promote%20it%20as%20investment%20would%20cause%20legal%20issues%20(would%20be%20considered%20as%20shares%20of%20a%20public%20company)%0A>%20%0A>%20%0A>%20The%20concept%20is%20described%20here%20in%20more%20details:%0A>%20https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc/%0A>%20%0A>%20br,%0A>%20Manfred%0A>%20%0A>%20%0A>%20Resources:%0A>%20Webpage:%20http://bitsquare.io%0A>%20Github:%20https://github.com/bitsquare/bitsquare%0A>%20Whitepaper:%20https://docs.google.com/document/d/1d3EiWZdaM89-P6MVhS53unXv2-pDpSFsN3W4kCGXKgY%0A>%20Overview:%20http://bitsquare.io/images/overview.png%0A>%20Video%20of%20the%20proof%20of%20concept%20prototype:%20https://www.youtube.com/watch?v=ByfnzJzi0bo%20%0A>%20%0A>%20Payment%20protocol:%20http://bitsquare.io/images/paymentProtocol.png%0A>%20Risk%20analysis:%20https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/%0A>%20Arbitrator%20system:%20https://docs.google.com/document/d/1EFLINUOmtY1Lu2VE9GZLHKEcqLvnnPfzlu0AMyGwDN8/%0A>%20Funding%20model:%20https://docs.google.com/document/d/1MysGJcPydv3EabshTFiFTtwQC86_4-HG7dSPp0_YhHc%0A>%20%0A>%20Old%20bitcointalk%20thread%20(BANKRUN!):%20https://bitcointalk.org/index.php?topic=462236%0A>%20 "Reply to this message")
