Proposal “build_idac“ (Closed)Back
|Title:||Thank you everyone for the feedback.|
|Monthly amount:||1138 DASH (49554 USD)|
|Completed payments:||no payments occurred yet (2 month remaining)|
|Payment start/end:||2017-10-18 / 2017-12-17 (added on 2017-10-10)|
|Final voting deadline:||in passed|
|Votes:||0 Yes / 425 No / 15 Abstain|
Thank you everyone for the feedback.
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Discussion: Should we fund this proposal?
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You show no experience in the Crypto world or in "startups" such as you are proposing. I also think uphold has some pretty high transaction costs for moving "money" around.
" While I am a big Drupal fan I don't see why the Dash treasury should spend that kind of money on this project."
I completely understand your point. I hosted a seminar on Oct 7th for 33 people who had never sent or received crypto-currencie before, but they were intrigued because they kept hearing about them. I explained IDAC to them, and asked for help recruting IDAC members. 16 of the 33 people signed up, and they were excited to sign up. If IDAC.io was up and running, I would have had all of them sign in, and I would have signed them up that night. Coinbase is very convenient, but they don't sell Dash. Even when they do ad Dash, the lack of an auto-send feature would make it more difficult to do what IDAC is trying to do. We don't want to sell 4 or 5 coins; we want to sell one: Dash. Thi will concentrate everyone's buying power on Dash only. We are strongly considering making automatic repeating buys of Dash the only option, but they would be able to pause or cancel it at anytime. Any auto-buy would have to have a "send to address". We would NEVER hold their Dash at all, making stealing member funds extremely difficult. Part of the expense of building this will be intregrating the Uphold API into IDAC.io to make all of this a reality.
"You are pricing this at a scale that could handle "a lot" of transactions - how will you get there? Why start that big?" Time. We want to hit the ground running. As soon as the web site is done, we want to focus 100% on getting members to sign up through vigorous promotion (boots on the ground, podcasts, videos etc.). We don't want the distraction of constantly hitting up on limits because the site can't handle more traffic. If we focus 100% on building our membership, the amount of Dash in our treasury will grow fast enough (we get a small percentage of each Dash purchase and sale) that we can handle any unforseen problems. But we want to start with the most capable website possible so it doesn't fail at the worst possible time. Acquia's Cloud Enterprise is their best service, and we ARE an enterprise from day 1.
"You show no experience in the Crypto world or in "startups" such as you are proposing"
Everything is a learning process. Those too scared to try spend their whole lives on the sidelines watching. I quit my job to focus on this full-time, and I AM learning, so I think that I'm on the right track.
"I also think uphold has some pretty high transaction costs for moving "money" around."
I've researched this, and Uphld really is the only option for us at this time. When we grow as big as I know we will, high volume will bring the costs down.
"This will concentrate everyone's buying power on Dash":
People won't buy dash because they have fewer options. Really? Whos the guy that's going to say "well I have all this money I deposited onto this exchange, hmm looks like they only use Dash. Oh well, I guess I'll buy Dash then"? come on. People will go to this exchange *maybe* if, (but *certainly* only if) they wish to buy Dash.
You have to focus money/resources on something. If you put more toward scalability, you need to put less toward marketing. You don't throw a ton of money and time toward developing that unless its the best bang-for-buck.