Proposal “build_idac“ (Active)Back

Title:Thank you everyone for the feedback.
Owner:saxdash
Monthly amount: 1138 DASH (346587 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 13 days
Votes: 0 Yes / 301 No / 11 Abstain
Will be funded: No. This proposal needs additional 762 Yes votes to become funded.
Manually vote on this proposal (DashCore - Tools - Debugconsole):
gobject vote-many 6fcd0e7fd79f18ad178f383e62ea5332d968bd513ff61706fff3081997851d50 funding yes

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Proposal description

Thank you everyone for the feedback.

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Discussion: Should we fund this proposal?

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1 point,6 days ago
please search for @DashDigitalCash on Telegram.com and also sign up at DashNation: https://dashnation.slack.com/ you will make friends
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0 points,5 days ago
Will do. Thank you!
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3 points,6 days ago
I don't really understanding what you are offering here. It seems as though you're asking for $650,000 to set up a website and hire a team.
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-1 point,6 days ago
Thank you for the comment. The website will be Enterprise-level, so it will be able to handle any traffic that gets thrown at it. It will basically be Coinbase-level, but will sell Dash only. On th back-end, Uphold's API will power the Dash buys and sells. Acquia's Enterprise Level Cloud service is hosted on Amazon AWS, and everything is redundant, so if our cloud server fails, it will automatically revert to the backup, so clients will never know. That's why is so expensive. For the people that want to buy Dash, they won't have to buy Bitcoin on another exhange, and then convert it to Dash. They'll be able to buy Dash with fiat directly on IDAC.io. They will be able to buy the Dash repeatedly automatically, and they will be able to send the Dash automatically as well. In a few minutes, I'll upload documents from Acquia so that you can see exactly what we'll be getting. Some other things that I failed to mention that I will rectify: James Shabazz is a professional film producer. He has done movies , commercials, tv shows etc. He has over 20 years of expertise. Hewill apply that knowledge to promoting Dash. The community outreach that we are going to do is going to be intense.
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2 points,6 days ago
I think if Dash paid $650,000 to coinbase they would add Dash pretty quick. While I am a big Drupal fan I don't see why the Dash treasury should spend that kind of money on this project. You are pricing this at a scale that could handle "a lot" of transactions - how will you get there? Why start that big?

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.
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0 points,1 day ago
If coinbase offered to take $650,000 to add Dash, I would support this proposal in a heartbeat!
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-1 point,6 days ago
"Enable automatic and repeating sends of Dash to any Dash address on IDAC.io." This is true, but it appears that Coinbase wil never add the ability to send any coin automatically other than Bitcoin. We want IDAC members to be able to "set it and forget it". Here is the vision: the IDAC member sets up an automatic buy of Dash every payday (let's say $50 per payday). He or she could do this on Coinbase if they added Dash. But he also sets up to auto-send his Dash to his KeepKey every 2 weeks. On Coinbase he could ONLY do this for Bitcoin. The inconvenience of having to log in every week to send any coin other than Bitcoin gives Bitcoin a slight advantage over the other coins on Coinbase. We want IDAC members to set it up once, and then have Dash just flow into their hardware wallet every payday.

" 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.
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1 point,5 days ago
you don't need an entire exchange to enable automatic periodic buying. any service that does this for bitcoin + Shapeshift.io would work, for example.

"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.
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0 points,6 days ago
Fastest NO thanks ever
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-1 point,6 days ago
That's okay. I'm going to build it with my own money. I may submit another proposal to expand it if necessary.
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1 point,4 days ago
you ask for a million dollars then you have enough to fund it yourself?
That's okay.
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1 point,6 days ago
easy no
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-1 point,6 days ago
Please explain so that I can learn.
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0 points,6 days ago
Is this just an online exchange?
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-1 point,6 days ago
There is a second part to the answer. As IDAC grows, our treasury will grow, and we will be able to do more things. Will have IDAC Training Centers in the U.S. where people can walk-in and get trained on how to use Dash. Taxes are another scary issue for Dash users. Eventually, will will have tax professionals that can povide paid services for IDAC members. So IDAC.io will start as an exchange, but we will grow into much more. Keep in mind that right now, this whole thing is the vision of one person right now: me. But as we get funding I will bring in more people to help distribute the load. 10 people working together make better decisions and come up with better ideas than one person working alone. But working alone, I have seen some incredible breakthroughs that give me confindence that this will work. If IDAC.io had been online on October 7th, I would have signed up at least 16 of 33 seminar attendees that night. Now imagine if there were 10, 15, or 20 IDAC trainers working recruiting IDAC members. I have a good friend who live in Florida. I had a long phone conversation with him last week, and I explained the vision for IDAC (probably much better than I've explained it here. He immediately got the vision and he remarked "it's so simple, it's like a buying club. You get everyone to buy the same thing so that you get a volume discount". That's basically all it is. He asked me if I was interested in him starting a Florida branch of IDAC with his wife. I said that we would love that. That is the vision for IDAC: it will spread globally, and IDAC members in every country will be buying Dash on a repeating basis. They will truly be their own banks because they will not keep their Dash on IDAC.io. We will IMMEDIATELY send it to their Dash address each time they buy (typically every 2 weeks).
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-1 point,6 days ago
Yes, it will be powered by the Uphold API. I had a teleconference with Colin Luce, the SVP for Uphold a few days ago. My original idea was to have IDAC members log directly into Uphold.com, but Colin recommended integrating the Uphold API into IDAC.io. Colin was also the person who recommended that I submit a formal Dash proposal. When I explained the requirements to the team at Acquia, the said that their Cloud Professional service would not be adequate to handle a site of this scope. They strongly recommended their Cloud Enterprise service. They said that they just did a job of this scope, and that the cost was in the neighborhood of $350,000 (hopefully, we come in a little bit cheaper). But they said that they will monitor IDAC.io 24/7, and that it will be able to handle any amount of traffic that gets thrown at it. It will also have full DDOS protection. I want to interface to be as clean and as simple as possible: few choices so people don't get confused. The team and I will talk about it a lot more, but this is what I envision right now: IDAC.io will not hold users' funds...ever. When they buy, the will will have to enter a Dash address that they want the funds sent to. As soon as the purchase is complete, the Dash will get sent immediately. Similarly, when they sell, they will have to state the bank account that they want the fiat currency to go to. As soon as the Dash is received, the fiat is immediately on its way to their bank account.
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