Re-invest dividends in Nu : Bounties and Bounty Platform

[desrever]

In the next few days shareholders will receive PPC dividends. I want to give back and contribute to the areas that are most needed now.

I pledge to re-invest 100% of the dividends I will receive for the period 0 into a Nu-related project : a bounty platform.

For the very same reasons I exposed in another thread, I will push all the funds collected towards the creation of a platform to manage bounties and some important bounties itself.
After that discussion I realised that a bounty custodian will not be feasible without a proper platform supporting it with users, votes, reports, comments, multisig addresses, feedbacks, and other infrastructural elements. Since this is not a core project, I cannot ask core-funds support for it and I cannot employ my personal time.

While I do not explicitly ask anybody else to do the same, I feel I can create and manage a public NuBits address to collect funds from shareholders that want to donate part of their revenue and re-direct them in the right direction.

Support Bounties and Bounty Platform :

1. Use PPC dividends to buy NBT
2. Donate NuBits to BFree3gZJDHm1u2VQw4JyTDsF44sj9UcNr

The money will support the development of a web platform to manage nu-related bounties. There are several challenges and I am committed in finding the best feasible solution with the money I get. My time is very limited and this is not a custodial grant proposal, so reporting will be limited. Also, while I will supervise the development of the platform, I don’t want to be directly involved with it.

At the moment I am the only responsible for this initiative, so if you don’t trust me handling your money, you should probably avoid investing here.

PS: Remember that just by using your PPC dividends to buy NBT back, you will already contribute to the network .

read the original discussion about bounty custodian(s):

Discussion : A bounty-program manager custodian (?)

[desrever]

First dividends coming in https://blockexplorer.nu/address/BFree3gZJDHm1u2VQw4JyTDsF44sj9UcNr/1/newest .

Balance 149.9 NBT

[desrever]

Balance 712.92 NBT

Impressive. Thank you for the donations!

[desrever]

Balance 986.3741 NBT

!

[seki]

how much you need?

[desrever]

how much you need?

The more I can get, the faster I can attract talented people. Don’t worry, nothing will be left-over for such a project. To understand the complexity, the most similar platform is Bounty-source, backed by a company sponsored by IBM with several employees and a 10% cut on each bounty (which is crazy) .

[desrever]

1,109.1741 NBT collected . Can go from here, I was hoping something better than 2% of dividends . Remember that projects like those are key to success and can potentially contribute in generate an indirect revenue which is several figures largers than the “savings” .

Anyway, I will try to do my best

[tomjoad]

1,109.1741 NBT collected . Can go from here, I was hoping something better than 2% of dividends .

Half of all dividends went to undistributed NSR that aren’t able to donate, so that puts your bounty fund at about 4.5% of all active dividends that were sent out in Period 001A.

Dividends from 100-150 million NSR are also going to the Winston Fund, which is a further 20-30% of the most recent active dividend distribution.

The fact that a minimum of 25% of all dividends that were just distributed are being re-invested into Nu is a success story. Our community understands that re-investing these small initial dividends will go a long ways towards ensuring a bigger, more profitable network in the future.

[Cybnate]

Noticed an outgoing transaction on the fund address yesterday. Is that planned?

Maybe I should rephrase that, did the work already start?

[desrever]

Noticed an outgoing transaction on the fund address yesterday. Is that planned?

Nope, that is a mistake of mine while trying the (new) coincontrol feature. I will refund the the sum immediately and move the sum to a cold storage to prevent things like this to happen again.

[desrever]

One year after this fund is still untouched.

So many things happened in one year to Nu and the cryptocurrency space in general that made me realise that - if feasible - a trustless platform that allows for handling funds in a distributed fashion is far from the reach for a < 2K NBT fund and some spare time.

The most promising project in this space, Lighthouse, took more than a year ,100$k+ and one of the brightest minds in crypto. While on the right path, lighthouse it is far from succeeding as a “kickstarter of bitcoin” and “replacing the bitcoin foundation” , and the reason behind it are only partially technicals.

So, as sole administrator of this fund, I took the decision of re-re-invest the funds in an important piece of infrastructure of Nu, the integration of NuBot and ALP server. Read more about it in this thread. This wasn’t an official grant, so there is no need of creating a shareholder-wide motion, nor can I in any way trace back to the original donors.

After pondering other possible scenarios for long time (burning funds, distribute as dividends, donate) I have reasons to believe that investing these NBT on an high-value low-cost project such as that, is more in-line with the anonymous donor’s will.

I hope my decision turns out to be wise. Thank you again, donors.