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An Open Letter From Evan and Ryan Regarding Dash Marketing

Discussion in 'Official Announcements' started by Ryan Taylor, Jun 28, 2017.

  1. Ryan Taylor

    Ryan Taylor Well-known Member
    Dash Core Team Foundation Member

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    Background:

    This year, we witnessed a dramatic change in the resources available to the Dash project, the scale of which is unprecedented in our short history. Leveraged wisely, this is obviously a good thing.

    Our first priority for these incremental funds is obviously to fund ongoing development. There is an upper limit to the impact additional resources can accelerate Evolution, and we are at the point that resource constraints are not hindering those efforts. The team currently in place is well positioned to deliver Evolution efficiently.

    There is still work to be done to ensure we can retain the top talent we have working on the project, including the ability to offer regular employment and benefits commensurate with the market to fill ongoing roles. We are still working on these additional components to make working for Dash attractive long-term, but we have a path to completing that work within the next few months.

    In the meantime, our higher market capitalization and the rate at which it has risen opened up much larger budgets at the same time that the Core Team’s balance sheet expanded from the price increase, causing us to discontinue budget requests for most funding needs. This has left an expanding unallocated budget as the price increased for six consecutive months (and about to experience our seventh).

    In this environment, there is a clear desire on the part of masternodes to put the excess budgets to work on marketing initiatives. While we share this view, and marketing makes for a great “flexible budget”, we have several concerns with the approach and tone that some of the marketing initiatives are putting forward. This letter outlines our philosophy and a suggested approach to marketing that we hope shapes the opinions of the community, and provides some foundation for unifying our approach to marketing. We also outline our own plans for ramping up marketing in a more cohesive manner.

    Our objective in this letter is to provide an alternate perspective on the marketing topic that we believe will enhance the community’s ability to engage in critical thinking on the marketing topic.

    Our observations and concerns:

    Over the past couple of months, we’ve observed that the entire digital token / currency industry has become feaverish. Evidence of bubble-like exuberance was readily visible at Consensus and Token Summit this year. There are several parallels with previous asset bubbles - claims that the market is in a “land grab” for market share is reminiscent of the “land grab” for eyeballs during the .com bubble. Insufficiently educated investors are indiscriminately investing tens of millions blindly in ICOs that have little to show except a whitepaper and a vague description of a business plan.

    In this environment, it is easy to succumb to the fever, and many Dash investors - both old and new - believe that Dash can effectively market itself as an investment vehicle on the basis of its past performance. While we’ve not seen much advertising of this nature yet, we’ve begun seeing it openly discussed and proposals submitted to the Core Team by community members for this exact style of advertising.

    We believe there are significant risks to the project, our users, and our strategy by following such approaches. While not all marketing carries this risk, it is inappropriate to market Dash to potential investors that likely lack the expertise to properly evaluate cryptocurrencies and their risks, nor whose risk profile matches the high-risks of this market.

    We differentiate this type of marketing with marketing of Dash’s current utility as a payment network and value propositions to appropriate audiences. Examples include Dash being the only way to obtain 15% off gift cards at Bitcart or the fastest and cheapest way to transfer funds between exchanges or fund your WhaleClub account. One could even argue that Dash is a superior store of value in select geographies like Venezuela where inflation is currently over 30% per month. This is value and utility Dash brings to the market today.

    What is concerning about marketing Dash as an investment?

    In an environment in which ICOs are actively marketed, it may seem “normal” to market Dash as an investment. However, we believe that over the course of time these practices will be considered unethical and in many cases illegal, and primarily serve to tarnish Dash’s brand. Many if not most ICOs are clearly securities under the law when applying the Howey Test. In other words, coins are marketing unregistered securities to unqualified investors. This situation is unlikely to last, and we should not seek to mimic this approach.

    While we do not believe Dash technically qualifies as a security because no portion of the coins are issued by a centralized entity, we encourage the community to operate in an abundance of caution. Dash’s most valuable asset is its reputation, and in the near future the practice of marketing digital assets as an investment may be frowned upon, especially if the bubble pops and investors are seriously impacted.

    We believe that advertising Dash as an investment rather than on the basis of its utility as a payment network would be similar to Microsoft advertising the increases in its stock price rather than the utility of its software in the midst of the .com bubble. In time, we believe that this type of marketing will be viewed in an extremely negative light. Public opinion will shift and in the long-term, it would behove the community to avoid engaging in this behavior.

    In addition, any gains from this type of advertising would be temporary. As soon as the marketing is removed, the artificial influx of investments would deteriorate followed by the price. Wild price appreciation and crashes would actually detract from Dash’s utility as a currency and medium of value transfer, thus directly working against our stated mission and vision. We encourage the community to take a longer-term view to their investments and refrain from hyping the coin… there is plenty of hype inherent in the industry already.

    What about giveaways?

    While we often reference PayPal’s famous $20 sign-up bonus and referral program in presentations as one example of incentives that grew a new payment solution, PayPal’s situation was different from ours in meaningful ways. The main difference is that they had addressed the other two adoption factors… the product was faster and easier to use than credit cards or bank transfers and was more secure. The incentives were therefore effective at growing their business because a high number of users tried the product and became recurring users.

    Dash is unlikely to witness the same effects in the absence of Evolution. Our hypothesis is that incentives will have greater effect at a later time once the product value proposition is stronger.

    Even though we would discourage repeated giveaways, the recently completed giveaway is not wasteful. We can analyze blockchain activity for those funds getting used and for the deposit addresses seeing additional activity. We understand these funds were given to different groups including a large concentration within remote villages. We might gain some valuable insights from this data, and we encourage analysis of the results.

    Isn’t any marketing better than unused budget?

    As stated at several points in the past, dating all the way back to 2015 when the governance system first launched, the possibility exists to “resurrect” unused funds and allow them to carry over from previous periods. Although the protocol does not currently support this functionality, we as a network can choose to implement that without affecting the committed emission limits. This would provide the network greater flexibility to “save” its treasury budget for when the funds are needed, and eliminates the perceived need to spend funds simply because they would otherwise be wasted. Funds saved in this way are likely to be worth a great deal more when spent in the distant future, for a much greater purpose than simply filling up the budget limitations each month.

    We could easily resolve the question of whether unused budgets should be rolled over to future periods through a simple network vote.

    A potential path forward:

    As stated earlier, we are not opposed to marketing. Marketing can increase awareness of the Dash brand and our unique value proposition, and drive value for our business partners. We encourage the community to orient any marketing in these directions.

    In fact, by driving actual use we protect our investment and downside risks. When real commerce is flowing through Dash’s ecosystem, it means Dash can never drop to zero, and the more actual commerce we drive the higher our price floor becomes. This is equally, if not more, beneficial to providing our investors with a stable and growing network than any one-time gains from attracting trend-following speculators that will exit when the trend shifts downward.

    Marketing is both an art and a science. We believe that the best path forward is engagement of experts / professionals that can skillfully craft, test, measure, and refine a cohesive multi-channel marketing strategy featuring consistent messaging and branding.

    Here are the areas we feel marketing aligns most closely with our goals:

    General awareness: Industry events and trade shows, general branding, and communicating our vision and mission to general audiences

    Features: Many digital currency users are unaware of Dash’s features and benefits. Increasing awareness of our instant payments and low transaction fees are examples of messages that can increase awareness for what makes our product unique.

    Business partners: Advertising the services of our business partners (assuming they approve of the campaign) both encourages the use of the Dash network and provides incentives for merchants to integrate with Dash and continue utilizing it. For example, advertise that using Dash can you get 15% off Amazon gift cards at Bitcart. We could also advertise to businesses the benefits of integrating with Dash.

    Use-cases: Build awareness of specific use-cases, like cross-border money remittance or speed-sensitive transactions.

    Each of the above drives the actual use of our ecosystem forward, while avoiding the hype of investor-targeting advertising. Decisions made regarding marketing will have lasting or even permanent implications to our brand, product and reputation and we feel that moving forward, we should be careful and exercise caution. In these situations we recommend moving slowly, sure of the ramifications of each step we take.

    What is the Dash Core Team planning?

    For the past two months, the Dash Core Team has been pursuing a service contract with a leading professional multi-channel marketing firm to start formulating an effective, efficient, and cohesive marketing plan that aligns with the product roadmap and strategy. Selecting a firm has become more challenging than we expected, as we’ve encountered potential client conflicts that have delayed our progress.

    Once a firm is finalized, we plan to test at small scales various marketing strategies, messages, and channels to determine what is most effective. We feel the outcomes from these exercises will both inform the specific expertise we might require in hiring a marketing executive, and will help us formulate strategies for the launch of Evolution.

    In the meantime, we encourage the community to refrain from potentially brand-impacting marketing tactics, especially those that focus on marketing Dash as an investment vehicle. Dash has always been focused on delivering value, and is characterized by long-term investors that believe in our mission and vision, and we hope to continue that long-term mindset well into the future.

    Evan and Ryan
     
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  2. mikenewhouse

    mikenewhouse New Member

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    What was the rational to go with a marketing firm rather than building these capabilities in-house?
     
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  3. Ryan Taylor

    Ryan Taylor Well-known Member
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    Primarily three reasons:

    1) As stated above, we feel that the initial guidance provided by a professional marketing firm would contribute valuable input into the specific expertise we would need to target for the market executive position. For example, if the marketing approach will likely depend on online and social media marketing, we would target those skills. If we find that a more well rounded media mix including traditional channels like radio and television is more appropriate, then we might target a broader skill set.

    2) Our initial marketing efforts will be smaller and aimed more at testing the effectiveness of various approaches. A smaller scale campaign may not initially require a full-time in-house resource to oversee it. We can manage this temporarily with existing resources until we start actively ramping up the marketing efforts and require resources.

    3) We already have fairly high fixed expenses once benefits are added and all outstanding positions are hired. By outsourcing marketing, we ensure marketing costs can ramp up or down quickly as budget allows. Building this capability in house would permanently raise our fixed expenses at a time when those constitute still a high share of our budget. The only reason we haven't been drawing much from the budgets recently is that the price increases have allowed us to rely on our increasing balance sheet, but unless the price continuously increases, this will not always be the case.
     
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  4. SimontheRavager

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    The best statement to all the current marketing developments possible
     
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  5. Leonidas

    Leonidas Active Member

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    Great, let's do it then !

    Was that announced somewhere ? Maybe I missed it...

    In any case, I noticed that the more time passes by, the more communications from Core Team about ongoing projects or initiatives or even reports (still no video of the Q1 call...) are scarce or late. Many topics are raised on the forum and often the only feedback the community gets is : "we are busy, you'll hear from us soon".

    Marketing has been a crazy topic for the past month and many people have been solliciting the Core Team to provide a response which we receive only now (if I'm not mistaken - in that case, my apologies, could you even please share us a link ?).

    So, again, two answers community is used to receive from Core Team :
    • We are busy, be patient
    • We can't give info as carrying out our plan and our partner ask for discretion
    I definitely understand, they are valid arguments. But still, we should talk about it.

    As many have suggested, it is paramount that a person in charge of communication should be appointed.

    I don't see any reason at all why the video takes so long, it is really not acceptable. Many people involved, many timezone, yes. Plus, everybody is busy. But if there is a will, there is a way. If there is not, that might say a lot about how sometimes communicating to the community from the Core Team is seen : maybe not that important...

    My aim is not to offend anyone but to try to have the Core Team put itself in my position (and I am sure of quite a few on this forum), a position where we don't receive much information.

    If you guys take such a long time to get everything you need to post a video that was a public event, how long are we supposed to imagine we will be waiting when it is about sensitive informations ? That's a worrisome actitude.

    About those sensitive informations, I liked the way you guys comminucated about Kraken, which has been announced much in advanced as a "major exchange". But what about that marketing firm you've been in contact with. How come we didn't know when the forum is getting crazy on the forum ? (Again sorry if it somewhere on the forum and I just didn't see it, but it is unlikely)

    So I believe, yes, a pesron in charge of communication should be appointed, and the Core Team should also set a clear path explaining how they see their duty of communicating toward the network and what safeguards are in place. It's important that we agree on that as community.

    Just at the top of my head, that could be a vow from the Core Team to file a report on their position/opinion every 2 months top on Marketing, Dev, etc. Like that, the community will know that they will get a clear position from Core Team every two month on which ever topic is hot in the forum.

    It's really important a solution is found here because we really are in a particular and new situation : Masternode are the board of directors but they cannot have access to all the information they should because those are shared publicly which can be a problem to do business... But that situation converts Masternodes not in a board of directors but only shareholders that wait for the official public press release, like everybody.

    A solution needs to be found...
     
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  6. Semarg

    Semarg New Member

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    Agreed.
    However, Ryan, do you think we (Dash) need to start looking for a CMO right now or not? Keeping in mind that hiring such a person would take a lot of time, as well as creating marketing strategy and starting one, while the Evoluiton is about to start just in 1 year, according to roadmap. That investigation, you mentioned, does it fit in time with roadmap? When will be the first visible results? I don't mean huge rising in market cap, I mean public marketing strategy, "most effective marketing strategies, messages, and channels" (exactly as you said), detailed "marketing roadmap" based on value-approach, which one I undoubtedly support. Marketing roadmap linked to main tech-roadmap, which Evan is already started to publish - do you think we need it or not?
     
  7. Ryan Taylor

    Ryan Taylor Well-known Member
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    Fair criticisms... we could use more support on the communication side and there is no excuse why the core team call is not posted. If it was lost due to the WebEx crash we encountered during the call, we should at least communicate that. I do not know the status, but I will find out.

    I used to fulfill much of this role for the core team and provided far more frequent replies and updates and as my time is stretched thinner and responsibilities have expanded it is becoming harder for me to continue fulfilling that piece. We will discuss the possibility of adding staff specifically to focus on communication.
     
    #7 Ryan Taylor, Jun 28, 2017
    Last edited: Jun 28, 2017
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  8. Ryan Taylor

    Ryan Taylor Well-known Member
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    I do not feel that we should be conducting a search for a CMO right now, no. Hiring one will take some time, but more like 6-8 weeks, not the year you're fearing. That said, we cannot wait until May of 2018 to hire someone. Building and implementing a marketing strategy takes many months. If we had someone in place by the end of this year, it would be sufficiently early for the launch of Evolution. I would not recommend waiting that long though. I think once we have a marketing firm selected, we will quickly obtain a better understanding of our needs and can hire for the position. I just wouldn't hire someone first before assessing what is the most likely approach.
     
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  9. TheSingleton

    TheSingleton Member
    Masternode Owner/Operator

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    Yea I totally agree with Leonidas. I get that you are all incredibly busy so If funding is not an issue as you always say then hiring some people dedicated to communication really shouldn't a hard choice.
     
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  10. Semarg

    Semarg New Member

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    Thanks for the answer!
    One more thing, if you don't mind: do you think marketing team should be an independent division reporting to DAO or should it operate within Dashcore?
     
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  11. Ryan Taylor

    Ryan Taylor Well-known Member
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    Funding isn't the only consideration... searches, interviewing and onboarding takes time as well. And we have several searches underway already or on a waiting list. We need to build out the PM, business development, and QA/testing area as well, so we're adding people as quickly as we can. I think once we get through that backlog we could address the communication role.
     
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  12. Vedran Yoweri

    Vedran Yoweri Active Member

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    Very happy with this approach. Much appreciated.
     
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  13. Ryan Taylor

    Ryan Taylor Well-known Member
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    I think that there are some functions that make more sense to be standalone and some that make more sense as part of the Dash Core Team. For example, journalism-type organizations should clearly be separate from the Core Team and to be effective must have complete independence to criticize our activities. In my opinion, the marketing function should be closely tied to the product strategy, business development strategy, brand strategy, and other public facing communications (like the website and PR efforts) - those all need to be working closely together. Given the benefits of tight integration / collaboration are critical to an effective marketing function, I believe that marketing should be part of the core team and not operated independently. But that decision isn't up to me... the MN owners have the ability to start a separate entity to conduct marketing campaigns and we will make every attempt to work collaboratively with those entities (should they be created) to make Dash marketing aligned with those other areas. I just don't see any benefit in having them operated separately from other functions.
     
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  14. Fount4inhead

    Fount4inhead Member

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    I like it, however I would encourage Ryan and Evan not to encourage the community to do or not do a thing.
     
  15. goto1415

    goto1415 New Member

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    When I see someone like Amanda B Johnson posting in the subreddit about how stressed she is I see that as a problem. For me, Amanda is a major part of the core team and if people believe she isn't being supported then it's not a healthy sign as she has been instrumental in both the uptake in the adoption of Dash and keeping the community informed - Amanda is a great vehicle for this and this should continue.

    As already pointed out, informative timely communications about what is being planned and what has been happening behind the scenes is just as important as marketing to people outside the community. That way, interest in Dash grows more organically. When the community knows what is going on because it has been informed properly, it is less likely to form false assumptions, the subreddit Reddit doesn't fill up with mindless posts with people in disagreement about whats happening and everyone feels a lot more confident. We grow together!

    Thank you for this update. With this and the recent roadmap it's a very good start - please continue.
     
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  16. pablomp

    pablomp New Member

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    I am happy to read this. I totally endorse your view. As "shareholders" of a currency we want it to success, and the only feasible roadmap for a currency to success is the one that aims to get the currency used by everyone as a currency. Promoting investing does not take Dash to a point closer to its goals. Neither Dash, nor any other currency. A currency has its value locked to the number of transactions per unit of time it does for trading goods and services. Promoting investment without an underlying value is dangerous. If it doesn't succeed in leveraging real everyday transactions for goods and services, it takes the currency to a inevitable pump and dump.
     
    #16 pablomp, Jun 28, 2017
    Last edited: Jun 28, 2017
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  17. Friend

    Friend New Member

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    I mostly agree. Good job. This is very logical analysis.

    I have few thoughts to share (you don't have to trust me on this and I encourage you to do your own studies/research):

    1. In my opinion doing even only this:
    will inevitably also lead to:
    I don't know many assets immune to price manipulation and speculation.

    Even now people are investing in Dash mostly as speculation, betting on it's future adoption. Its probably more long term (maybe because of Evolution promise) than i.e. ethereum but still.

    2. IMO we need more long term than short term investors but how can we reach the first group without drawing attention of the second?

    Many short term investors study their assets after buying. Some of them only then are able to realize dash superior utilities over other cryptos.

    3. There is also something like "first love" psychological effect. First asset you invest in is favored by you because of confirmation bias.

    There are so many scams, ICOs, shitcoins. Why not give inexperienced investors chance to hear about Dash and let them invest in good quality (even when they don't fully realize that) project ?

    4. I 100% agree that it shouldn't be advertised as "investment vehicle".

    5. Market (investors) too often isn't logical.

    I fear that even with our superior technology (sole fundament of long term utility) but without sufficient marketcap (people holding and being aware of something like Dash project) we can be left over as one of many niche altcoins.
     
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  18. Bitedge

    Bitedge New Member

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    As evidenced by the hundreds of (apparently misguided) discussions about unused budget, almost no one is aware of this. I suggest this be put into the code or at the least formally documented.
     
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  19. pablomp

    pablomp New Member

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    Also, saving non-spent budget is the best strategy at this time. It adds to the present value, because the creation of a bunch of currency units is postponed, and there is more certainty that when they'll be released, it'll be for a cause that will probably add yet more value. Of course, if the final value added was less than the interest of the investor, then the strategy would have been a failure, because the investor would have preferred to cash that out the extra value added by the non-created coins now and make a different investment. Nonetheless, because of the Dash potential for succeeding, the strategy failure is very unlikely. That is without saying that if Dash succeeds as a currency (and we all hope that t happens) at some point it will lose its potential as an investment and will just retain its investment value for having a limited supply. Should that happen, the strategy of saving the unspent budget should be revised.
     
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  20. c3works

    c3works Member
    Masternode Owner/Operator

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    Why? Isn't more information, including informed opinion, better? MN's can sift how they will.

    The criticism has been over lack of communication, and already they should limit it?

    I hope they encourage us more, provided they give their reasons so we can evaluate them.
     
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  21. solarguy

    solarguy Active Member

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    I would respectfully but vigorously disagree with this sentiment. The Masternodes, the Core Team, and the larger Dash community all have extremely valuable insight into how to make Dash succeed. Asking the Core Team to not use/express that insight to contribute to the plan on how to win would be unwise in the extreme. That would be like tying one hand and two feet behind your back.
     
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  22. Leonidas

    Leonidas Active Member

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    I participated to many discussions on that matter and I knew about those resurrecting funds.

    I always have been against it. I believe that funds that we wasted because we couldn’t get organise to save them is on us.

    Now, the nuance is what will we decide to do about the future unused funds, this is what I (and so is @Ryan Taylor if I understood well his post) am talking about.

    That would means taking the decision at some point (the sooner, the better) to agree through a proposal that we will pile up all unused fund from the date the decision was taken.

    It is possible that the technical or accurate term for that pile up is “resurrection” but it is a real poor choice of words if we refer to a decision that we take now about future funds.

    Nothing to do with a decision made in the future about unused funds in the past – which would be resurrecting and bad thing IMO (or decide now to bring back to life the unused funds from last month for exemple - that's on us).

    I don't know if I manage to express the nuance..
     
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  23. solarguy

    solarguy Active Member

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    This is excellent news on many fronts.

    Yes, everybody will benefit from better, more intentional and more timely communications. The sooner the better.

    We recognize that the Core Team has been struggling mightily to cope with the growth in the budget, and the sudden huge increase in the size of the team. I think the Team has done a creditable job under tremendous growth challenges. Well done and carry on!

    Thanks for clarifying the “burned vs saved” excess budget question. That should largely eliminate a lot of the frustration from “wasting” unassigned budget. Whether we vote now, or vote later on the fate of those uncreated funds is immaterial to me.

    Excellent that Dash Core Team has a working plan in place to ramp up targeted professional cohesive marketing, with feedback and course corrections. This should cause a lot of the tension and drama to just evaporate.

    Dash is so much more than just a speculative investment. We have the most viable plan to become a successful replacement for cash, credit cards, debit cards, money transfer across borders and legacy banking services.

    Based on my understanding of the current ICO mania, I guarantee that a lot of the people throwing money into that pot will end up bitterly disappointed. While I feel bad for them, I am confident that when the bubble bursts, Dash will weather that storm better than most. We just need to keep knocking down obstacles to becoming a real, functional, easy, fast, safe currency.

    But in addition to becoming the new cash, we are also a community. We are becoming a virtual nation. As we get to know each other better as a community, something like patriotism emerges. Pride in belonging to the community. Respect for other community members. A willingness to support each other, and look out for each other. This quality as a virtual nation will have more to do with our success as a currency than all the (admittedly wonderful and amazing and industry leading) features.
     
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  24. dashdisciple

    dashdisciple Member

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    Thanks very much for this letter regarding Dash Core's marketing plans.

    The outlined ways in which Dash should and should not be marketing itself are logical, and very helpful to myself, and to all the independent proposal owners who seek to add value to Dash on a daily basis. This type of guidance helps the MNOs be more valuable participants.

    I came onto the Dash scene very strongly a couple months ago when I saw things in Dash's marketing that weren't right. Airshow money, for example, could be invested in Google PPC ads easier, faster, more flexibly and for a much higher ROI. Every sane investor wants to remain silent forever, but it was this nagging question of "Why is this happening?" that kept me up at night.

    I have spearheaded the CMO vote, which I (and the majority of voting MNOs) still feel very strongly is necessary . Perhaps in time, Dash Core will hire a CMO to manage their arrangements with an outside firm, or in order to cut fees on in-house run online advertising campaigns. In time, as Ryan and Evan suggested, perhaps the MNOs themselves will hire a CMO to organize a Marketing Core which works in a more decentralized manner and increases the value of all the independent proposals arriving on the board.

    While other coins may not currently be widely advertising the benefits of their chain, this is something that Dash's treasury budget could enable. I'm unable to be convinced that a passive marketing stance now is anything but a lost opportunity. I, of course, agree that Dash should not be aiming at short term investors, but rather increasing its roster of long term stakeholders who can bring with them network effect, talent, and capital.

    In the meantime, I'm grateful to see this marketing issue addressed. If the issue continues to fester, the MNOs will have all summer to reconsider their vote on an independently hired CMO. The CMO proposal was not set up with a normal single cycle deadline, but with an expiration date set for September 2017. If the treasury budget continues to grow and the MNOs feel the need for more professionalism in Dash's marketing is warranted, they will be able to adjust their votes accordingly and form an independent Marketing Core.
     
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  25. TroyDASH

    TroyDASH Well-known Member
    Masternode Owner/Operator

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    Is there any particular benefit to having the core team hire a marketing firm instead of hiring a CMO either with their own team or to work with a marketing firm? If Core contracts with a marketing firm then working with that firm still requires work, and unless there is a dedicated person, it is going to fall on the existing team which is already stretched thin.
     
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  26. Ian

    Ian New Member

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    I am very glad to read this. I totally agree that marketing Dash as an investment would be a very dangerous strategy. I also thing using a marketing firm is a sensible approach.
     
  27. David

    David Well-known Member
    Dash Support Group

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    Resurrecting unspent budget funds is a political decision, and that's the problem. The "hundreds" of discussions about unused budget were not misguided at all, because though it is technically feasible to do what Ryan and Evan have suggested, it's politically challenging. In fact, at least one full-time Core Team member has publicly stated that he will resign if such a plan is ever implemented. Because of the foreseeable political controversy, it's wise to consider unallocated budget funds as lost forever.
     
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  28. solarguy

    solarguy Active Member

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    " The "hundreds" of discussions about unused budget were not misguided at all..."

    They were misguided in the sense that many people were working under the assumption that the unspent funds are burned or destroyed and are lost forever.

    They are not lost forever, and could be used if the community decides it would be useful and worthwhile to do it.

    Whether it's a good idea to resurrect the un-allocated budget money is a different and interesting question that we can work on as needed.

    Anybody have a back-of-the-napkin estimate of how much is in our "savings account" ??

    Maybe when it's time to run some 5 million dollar superbowl ads, there won't be much controversy about dipping into our savings account...
     
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  29. pablomp

    pablomp New Member

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    Also, @solarguy, in the case they were never created, they wouldn't be lost. The direct effect of never creating them is an increase in the price of the currency unit. It would be like saying that when the central bank authorities decide not to print money, they are destroying money.
     
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  30. Leonidas

    Leonidas Active Member

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    Of course there will be... As far as I'm concerned, there is 0 on our saving account.

    Let's first agree on the future unused budget that will have much more consensus before anything else
     

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