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Fund a study maximizing airdrop value

Discussion in 'Pre + Budget Proposal Discussions' started by HedgedAndLevered, Nov 14, 2017 at 5:16 PM.

  1. HedgedAndLevered

    HedgedAndLevered New Member

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    Recently I was shocked and dismayed to learn that the network is willing to spend $430,000 giving away D̶a̶s̶h̶ Huobi IOUs for Dash without much of a plan, or a reason for the amount other than the fact that 1000 dash is a 1 followed by 3 zeroes.

    The description itself declared that .01 to .001 D̶a̶s̶h̶ Huobi IOUs for Dash would be given away per person, and nobody even asked why this estimation spans an order of magnitude.

    If we're willing to spend $400,000 on giving it away, why not spend 5-10% of that amount to fund a consulting team to investigate the best way to give it away. If that ends up being an exchange airdrop, so be it, but I think we need to be smarter before we dilute EVERYONE's dash by .013%. I mean, Masternodes, this costs you $55.90 each in dilution. Plus you force everyone to give away that much to these people.
    I get it, you're rich enough where $55.90 doesn't matter to you, and you just care about pumping the price, and if this pumps the price by .013%, its "worth it", but my illustration is that look, its an actual amount of money just for one masternode. Seriously, we can do so much more with this amount of dash.

    I bet if you gave Amanda B. Johnson $400,000 worth of dash and $30,000 in pay she could raise a hell of a lot more buzz than giving Chinese I̶n̶v̶e̶s̶t̶o̶r̶s̶ traders free easily-convertible-to-btc Huobi Dash IOUs.

    Please, masternodes, vote down this proposal this month and spend some money to investigate if this is the best bang for the buck first.

    I can't afford to put up the 5 dash for a proposal to fund a consulting group for this purpose, and I'm not even the most qualified to propose a consulting firm for this purpose, but I'm trying to get a call for action before passing one of the most expensive proposals the network has ever seen, without any real chance of measuring how effective it was, beyond normal price fluctuations.
     
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  2. Beru

    Beru New Member

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    Its hard for me to imagine a proposal where we can reach more individuals directly than with this one. Its a tradition in china to bring gifts when you start a buisness relation. I dont think this kind of statement should be done elsewhere but its necessary to adapt your marketing to the market you try to reach. We will be in that position again down the road, thats why its important to have teams all around the world if we wanna have global reach.
     
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  3. Vedran Yoweri

    Vedran Yoweri Active Member

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    you mean you didn't read the proposal or ya just wanna bitch?
    as with any budget funds.
    you don't get shit dude.
    now you are insulting the people you are trying to convince. this also shows you don't know shit about this community and are just pissing around.
    awaiting your so much better proposal.

    why should we trust you? you are baby new, insult us, want us to turn down a big integration partner and give you money so you can 'investigate' and tell us you were right insulting us?
     
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  4. HedgedAndLevered

    HedgedAndLevered New Member

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    Eh, apologies for the "just want to pump the price" comment, thats a bit extreme. I know a lot of masternodes care about the long-term. I was just reacting to some of the posts I've seen where confirmed masternodes are saying "who cares, we have so much in unused funds", so it seems like they don't understand that its diluting everyone's dash.
    Integration partner? They already have dash trading live, this is a promotional partner.

    I understand the temptation to see a large n(people who have dash)
    but what we really want is to maximize large n(people who use dash)
    My point is

    1. That there is only some percent of the people who receive the ability to withdraw dash that will actually do it, and that this number is likely to be small, so that n(people who use dash) does not increase nearly as much as other methods of distributions could.
    2. $440,000 is a LOT of money which could fund a large team of people to work for hours/days on an alternative promotion, so more research should be done on which is going to maximize n(people who use dash)

    If you have funded a booth somewhere at a convention or you hire a street team to engage with people, you're going to maximize the chance that the dash you're given away is used and doesn't just get dumped on the market. $440,000 is enough to buy a lot of man-hours promoting dash...

    Also sorry if I wasn't clear, I'm not interested in setting this up, taking any payment, or even deciding what the best way to do research is (could be hiring a consulting firm, thats just one idea).
    I just see a problem with one of the largest single expenditures in the budget history passing, without a real reason being given for the amount, and think we can find a better solution, or quantify the amount of dash we need to spend to have the same effect. Is .crediting .01 dash ten times better than crediting .001 dash? That's not an easy question to answer, but you can find a solution for a lower cost than potentially over-crediting accounts, so we should try to find the solution instead of guessing 1000 dash.

    tl;dr: Why is this 1000 dash, and not 500 dash?
     
    #4 HedgedAndLevered, Nov 14, 2017 at 7:05 PM
    Last edited: Nov 14, 2017 at 7:20 PM
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  5. TroyDASH

    TroyDASH Well-known Member
    Masternode Owner/Operator

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    What is this business relationship people keep talking about? Are we planning on continuing to pay Huobi to market itself, er, Dash? Imo, it's a bad idea in general for the network to have a business relationship with an exchange that is more than simply paying for integration or support. What happens when people start asking questions if the exchange turns Gox? It's not like this is a far fetched scenario.
     
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  6. Beru

    Beru New Member

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    We are not paying huobi, we give individual users a gift via huobi. They where the first exchange in china to integrate dash (without asking us anything by the way) so the question is simple: do we make a marketing stunt in our first integration in china? Say yes or no but stop saying its huobi who benefit from this proposal. Sure they have a indirect benefit by being the intermediary and pumping their volume but its for the user that we do this.
     
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  7. GrandMasterDash

    GrandMasterDash Well-known Member
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    Bitcoin cash did a massive airdrop and it didn't do them any harm.
     
  8. TroyDASH

    TroyDASH Well-known Member
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    Yes, we are giving individuals a gift via Huobi. I'm just saying, look at the incentives. Huobi is a for-profit business. Their #1 priority is to make money, and rightfully so. They are not integrating Dash and marketing it because of ideology. I am sure they do want us to be successful, but that is not the main reason this is happening. Doing the airdrop probably will have a stimulating effect on Dash interest in China. I just do not think that we should be partnering with exchanges for marketing stunts. I do not want Dash to be in a position where the network paid for stimulating activity on an exchange because exchanges are inherently extremely risky. What if Dash had partnered with Cryptsy to do an airdrop, and as a result lots of people got interested in trading Dash on that platform? There would be all kinds of accusations. I am not saying this is going to happen with Huobi but in my opinion helping out exchanges over and above basic needs with network funds is not a good habit to get into.
     
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