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February 2016 Budget Proposal

Discussion in 'Official Announcements' started by eduffield, Jan 28, 2016.

  1. eduffield

    eduffield Core Developer

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    It’s that time again, here are the budget proposals for this month. We’ve been working hard to invest resources as efficiently as possible. Budget allocation during Q1 looks like we are finishing up with several important investments we have done like our new dash.org domain among others. It is amazing to see how much we have accomplished since the budget system started. We are very excited about the future.

    Many good things came from Miami, specially the opportunity for Dash to participate in the Satoshi Roundtable for the first time ever and we are hoping the community will support this important meeting. The most exciting thing about it is that it is and invite only event and it feels great for people to start recognizing the value of our project and giving us the opportunity to explain what we are doing at the highest levels in the industry.

    We have other very important projects on the works that we will publish for discussion ahead of time and will probably submit for vote starting Q2 to continue with the good momentum the project is having.

    Previous Items:

    1. Core Team Budget - 1,174 DASH (ongoing)
    2. Public Awareness Campaign - 2,226 DASH (ongoing) (Please see the Michael Terpin - Transform.PR new project below.)
    3. Dash.org domain acquisition - 2,100 DASH (payment #3 of 4)
    4. Liquidity Providers - 121 DASH (payment #3 of 12)
    5. Dash-Lamassu ATM Integration - 610 DASH (payment #2 of 12)
    6. Transform PR - Michael Terpin - 1,100 DASH (payment #3 of 3)

    New Proposal Items:

    Dash Satoshi Roundtable Participation

    One of the best things that came out of Bitcoin Miami, was an invitation to the Satoshi Roundtable. For those of you that are unaware, the Satoshi Roundtable is an invitation only event that helps those very close to the Bitcoin project to organize and talk about some of the most pressing issues that are happening in the space. We’re really happy to be invited to this event and get some time to chat with the Bitcoin core developers, along with talking to large stakeholders in the Bitcoin ecosystem. Building these relationships will be critical to our long term success as a currency and project. You can see a list of this year’s attendees here:

    www.satoshiroundtable.org

    From the core team, Daniel Diaz and Evan Duffield will be attending the event. The participation cost is $2450 per person ($4900 total), then flights $440 for Evan and $660 for Daniel.

    Due to the full budget we’ll be spreading out the reimbursement for this over two months.

    A special thanks goes to Michael Terpin for helping us get this amazing opportunity for Dash.

    February Budget:
    Note: USD conversion assumes $4.18 as of January 28th, 2016 for new budgets. Old budgets use the exchange rate at the time of creation. Exchange risk is carried only by the proposer of the budget proposal and not by the network.
     
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  2. daf

    daf Active Member

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    Well, yes.
     
  3. AjM

    AjM Well-known Member
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    Nice, revoted yes, voted earlier no because no title or explanation.
     
  4. David

    David Well-known Member
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    eduffield

    Quick question: With the nice appreciation that Dash has seen lately, how are fixed-cost projects handled? For instance, $X was needed as reimbursement for the acquisition of the dash.org domain name, but the coins per month was calculated back when the price of Dash was lower. This will result in the project receiving more dollars than is needed for completion.

    Thanks!
     
  5. HinnomTX

    HinnomTX Active Member

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    Per Evan above:
    "Exchange risk is carried only by the proposer of the budget proposal and not by the network."
    Just a guess, but if we've got honest operators around here, when there's a DASH surplus at project completion (as yet undisbursed from the blockchain), the proposer should return unused funds in DASH to help cover for when there are budgetary shortfalls in other proposals (but this is difficult to enforce). A $ surplus could be viewed as a reward for bearing the exchange rate risk.

    Obviously the bigger problem is with a $ shortfall. If there's a significant slide in the DASH/USD price, and the treasurer for a critical project is unable to hedge, he/she may have to come back with a second proposal, detailing the extent of the budgetary shortfall. Then the masternodes can vote again whether to continue funding the project.
     
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  6. yidakee

    yidakee Well-known Member
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    "No brainer" for this month's budget is an understatement.

    Price appreciation is a very valid argument. I only wonder if the same argument would be put forth if such appreciation declined since DGbB's inception.
     
    #6 yidakee, Jan 28, 2016
    Last edited by a moderator: Jan 28, 2016
  7. tungfa

    tungfa Administrator
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    That Roundtable is amazingly exciting !
    Dash will be finally sitting at the Pro Crypto Table
    and who better to send than Evan + Daniel !!
    (tx to Michael Teprin for the hook up !)
    :D
     
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  8. InTheWoods

    InTheWoods Well-known Member
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    I wouldn't praise Terpin too much for this to be honest.

    Look at the previous attendants. They've had Mastercoin devs there and some lower profile folks you never heard of. 50 people is a lot of people and it's not like the entry is free of charge. http://satoshiroundtable.org/

    They pitch this exclusivity thing but it's not that exclusive really. Check their 2015 list. Lots of low profile folks like people from Storj. Storj is below 2mil mkt cap coin, so is Mastercoin whose devs were also present. Of course they'd want to have Dash there, a top 5 coin with lots of innovative features.

    We didn't need Terpin for this. Dash could have easily got in without his help.

    That being said, something positive can come out of this for sure. Some VCs could be convinced to put some money into Dash.
     
    #8 InTheWoods, Jan 29, 2016
    Last edited by a moderator: Jan 29, 2016
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  9. David

    David Well-known Member
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    True that it's probably not quite as exclusive as it's billed, but that doesn't mean Terpin wasn't instrumental in setting it up. There will definitely be some very influential people there...I look forward to seeing what comes of it.
     
  10. tungfa

    tungfa Administrator
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    woods woods woods
    any links to back up that negativity ?
    ;)
     
  11. InTheWoods

    InTheWoods Well-known Member
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    I've been involved in other projects that hired his advertising agency. That's all I'll say on the matter. The results were mediocre to say the least.
     
  12. tungfa

    tungfa Administrator
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    you still can not compare that from one deal to the other
    it depends a lot on the team/client behind to push them hard enough !
    if you (as a team and client) do not do that, sure i can imagine that nothing happens
    (lucky we are pushing :eek:)
     
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  13. buster

    buster Guest

    I say no to the glorified fratboy party for Bitcoin Chieftains. What happened to distancing ourselves from bitcoin? There are other proposals I would rather see funded than this one.
     
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  14. TheDashGuy

    TheDashGuy Well-known Member

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    Agreed.

    These things seem to be frivolous, is that event really going to help Dash out? Or just give everyone ideas to add into BTC as they continue to act like we don't exist?
     
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  15. Macrochip

    Macrochip Active Member
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    Good point. PITA Turd, the traitor of Crypto is going to be there. He smack talked DASH on Twitter and Reddit. He's actively trying to destroy Bitcoin with terrible design suggestions while being a BTC maximalist and now Evan and Daniel are going to meet him there? What's the possible gain from this holiday that can't be achieved by meeting Roger Ver and other relevant attendees in the course of this year? There's gonna be more productive crypto-related events than this during 2016.

    BTW: Does this funding proposal include a life insurance? If Evan had a "boating accident" there and "disappeared" you think those BTC-Masters had nothing to gain from it? /conspiracy-mode
     
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  16. TheDashGuy

    TheDashGuy Well-known Member

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    Sadly Evan would have to vote this down himself for it to not pass. Or Otoh I guess.

    It's a dead argument but I honestly feel like this is a waste of the funds available. Completely. Noone is the BTC space wants to see BTC dethroned. They want to snatch ideas.
     
  17. Macrochip

    Macrochip Active Member
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    Yep, that's why they invented sidechains
     
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  18. TheDashGuy

    TheDashGuy Well-known Member

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    We'd be better off setting people up at gas stations with pamphlets for this kind of money.
     
  19. InTheWoods

    InTheWoods Well-known Member
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    I guess you're referring to the Roundtable meeting.

    The only real positive I can see for DASH is being more appreciated by some early Bitcoin adopters, which should result in them putting a portion of their savings into DASH. This in turn could have some positive side effects. Dash mkt cap would grow, which means the project would also grow. There'll be more money for proposals and so on. If some of these guys get into DASH big time, they will start mentioning DASH and advertise it to their friends, which would in turn create another snowball effect.
     
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  20. TheDashGuy

    TheDashGuy Well-known Member

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    And if they only want to see BTC grow? I mean these guys are the top dogs in BTC.... why would they have any reason to stifle Bitcoins innovation by promoting something arguably better?
     
  21. TheDashGuy

    TheDashGuy Well-known Member

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    I thought the reason they wanted sidechains in the first place was to absorb altcoin tech though? Right? That seems to be my understanding...
     
  22. InTheWoods

    InTheWoods Well-known Member
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    Because they could divest from Bitcoin gradually, especially if they manage to understand how undervalued DASH is currently considering what it brings to the table.
    Omni ex-Mastercoin was the first sidechain and more like Colored Coins and Counterparty followed but I don't think there will be more sidechains. Bitcoin has been pretty hostile to sidechain coins. Creating an altcoin on Bitcoin is like wearing a straitjacket. You would depend a lot on what features the Bitcoin devs implement or don't implement like OP_Return which allows for smart contracts. Bitcoin devs have lowered OP_Return size and this purposefully hindering development of sidechain coins for quite some time. It was only recently increased to 80 bytes after being reduced to 40 bytes back in 2014

    Now, people that have Bitcoin related jobs like the Bitcoin consultants that are over their neck in Bitcoin, professionally invested so to speak like Andreas Antonopolous, who makes money from being a Bitcoin consultant, will try to push this sidechain narrative and how Bitcoin is better than all the rest. They will tell you how 1st mover advantage is so important and so on, which is BS of course. They probably don't believe it themselves and if they do it's just wishful thinking.

    On the other hand, people like Roger Ver or Erik Vorhees can easily divest from Bitcoin without much to lose. Eric Vorhees, for example, already changed his stance on alt coins. He initially thought the 1st mover advantage is such a big thing and came to realize that was total BS. Ended up starting Shapeshift.io.
     
    #22 InTheWoods, Jan 31, 2016
    Last edited by a moderator: Feb 1, 2016
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  23. TheDashGuy

    TheDashGuy Well-known Member

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    Quality content sir. Thats an idea that makes quite a bit of sense in that light.

    Still worries me a bit to be giving away our tips n tricks to such influential people without any sort of benefits being presented upfront. I'm struggling to see how being in a room with these individuals is going to change their attitude of Dash, and if they don't already understand the concepts out there regarding the one of the top10 altcoins, they aren't doing their homework.


    Idk, I just feel like that kinda of money could be so much better used right now. I guess we'll see how it plays out though.
     
  24. InTheWoods

    InTheWoods Well-known Member
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    Some are just too focused on all things surrounding Bitcoin to pay attention to other projects. Their whole space becomes an echo chamber. Dash runs the same risk which is why I think it's a good idea to look into what others are doing as well so that you're not taken by surprise.

    Honestly, if I were to worry about something I'd be more worried about Z.Cash (ex zerocoin). Some of the guys present at this Roundtable like Roger Ver have invested in Z.Cash, which is a direct DASH competitor just like Monero. Z.Cash (ex Zerocoin) already copied the Cash part from Dash, Digital Cash and they will probably try and clone other stuff as well.
     
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  25. TheDashGuy

    TheDashGuy Well-known Member

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    Fair enough.

    I honeslty don't have time to research every single coin out there, as I want to be a useful part of the ecosystem not just a bagholder. Why are those 2 even a threat? And if they are, why isn't our daily goal to nullify said threats?

    I feel like the budget system should be primarily used for ensuring the future of dash before we start worrying about funding our principle ideas and island vacations, but thats just me obviously. Everyone has an opinion, so take it lightly.

    For example; why are we not emplying a grassroots campaign and tipping everyone everytime they post a flyer somewhere useful/go to a big business and pitch them on dash/ or some other useful REAL life example of Dash?

    Wouldn't that be the best way to get this movement kickstarted and ignore the "opposition" if you will?

    We should honestly try and pick out how Obama won his campaign, because that shit was a historical moment in politics, the man HARNESSED the internet to become president essentially.

    edit: I mean we can add new features all day long, but until people know aboutt hem, the features aren't very useful, eh? So we need a balance of dev work and public exposure. And currently it seems all the effort is on the dev work side of things...
     
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  26. InTheWoods

    InTheWoods Well-known Member
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    Yes, I believe every little bit helps, even a small tip here and there, writing an article, talking to someone about DASH, making a video and so on. The butterfly effect is an interesting thing. You never know what kinda` chain reaction you can trigger.
     
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  27. TheDashGuy

    TheDashGuy Well-known Member

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    We should all take a second to read this type of information over:

    http://brandongaille.com/11-fanstastic-grassroots-marketing-examples/
    http://www.rasmussen.edu/degrees/business/blog/guerrilla-marketing-campaigns/
    http://blog.hubspot.com/blog/tabid/...kable-Marketing-Campaigns-EVER-Slideshow.aspx

    about obamas campaign:
    http://www.nytimes.com/2008/11/10/business/media/10carr.html
     
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  28. pbleak

    pbleak Active Member

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    Just curious, but how does the roundtable work, do they charge a fee? Because if so it's genius. They basically just invite 50 devs to somewhere sunny (that could have been done anywhere) and clothe it in exclusivity.
     
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  29. TheDashGuy

    TheDashGuy Well-known Member

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    Yep! They have a fee. Anyone "exclusive" enough to get invited still has to pay.
     
  30. pbleak

    pbleak Active Member

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    Heh, epic...so I'm running an exclusive meeting in Southern France . 10000 DASH a head :p
     
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