Ever since 2013, I’ve been involved with Bitcoin and many other alt-coins over the years. More recently, there have been these ICO’s or Initial Coin Offerings. Basically, the crypto coin equiv. of a stock offering, I guess. That got me to thinking… could Haiku offer their own crypto coin, and raise funds locally (directly through the local Haiku community), but then gain potentially more funds, once that coin was submitted/accepted by various exchanges?
Add to that, if the coin could only be mined strictly on Haiku systems (CPU mining only, of course, since there is no high-end graphics card support at this point), that would increase public awareness of the OS and incentivize usage, fund developers, etc.
Run your own money if you want, but the Haiku team has better things to do than creating a bank.
I’m following the Haiku project since it was started and also thought about this new tool of crowd-funding for the Haiku.
ICOs and IPOs are entirely different:
- The former is currently unregulated (regulation will kick in this/next year).
- The former is just a contribution while the other is an actual share of the company.
ICOs can be compared more closely to crowd-funding.
The term “alt-coins” are a bit misleading and used very inflationary these days. I would no create an alt-coin for Haiku (as it would need it’s own new DLT (Distributed Ledger Technology) but a utility token.
People can buy this token through an ICO and later spend, exchange and trade it for real services or incentives of Haiku (donations/tips for developers, donations, projects etc.).
The issue with crypto-currencies and tokens is, that the majority of developers/contributors want to be compensated in fiat money, which is understandable, but the crypto-currencies and tokens can be exchanged very fast to fiat money without much risk of losing value. It’s just a matter of using the best DLT for the specific needs of Haiku.
Mining is a topic on its own, but a Haiku-token does not need to be mined at all. Some DLTs don’t even support mining.
I agree. Mining a Haiku-coin would not make much sense:
- Haiku lacks the functionality (OpenCL, GPU drivers).
- Zero chance of succeeding if not joining a mining pool.
- There are DLTs, which don’t support mining or offer CPU, GPU, CPU/GPU and FPGA/ASIC mining.
The costs would not justify its value.
@PulkoMandy Granted, it looks like creating your own bank/money, but I think the intention of @Luposian was alternative funding for Haiku to be financial sound (Of course I neither don’t know if funding is even needed nor the amount Haiku would aim for).
Just my 2cents.
Haiku only with a BTC, ETH, XMR and Doge address in a Coinbase Account can receive the best crypto coins without a lot of work.
Well, there are many services out there, which offer ICO services, so it’s not so much of a concern, which currencies you choose, as you are exchanging it for fiat instantly. There are also better options than CB, depending on the regulation and the location of the company.
While pondering this topic, I decided to toss together a possible scenario. Take it with a grain of salt and/or formulate how this would actually be executed, as you like (I’m just having fun with this):
Proposal: HaikuCoin used to fund Haiku development
- 1 HaikuCoin (HC) = $1USD paid to Haiku
- Buy 1 HC w/ 0.02 ETH (roughly $5)
- Funds from ETH purchases of HC must be invested into savings or POS coins or other sources of interest-generating account
- 100% of interest generated, is invested into Haiku; principle is used only to generate interest, but belongs to Haiku, regardless.
- Each purchase of 10 HC or more, is given a Certificate of Purchase and a wallet with their HC added to it. This wallet is POS (Proof of Stake), and set to 1%/mo interest. 1% of 10 HC would be 0.1HC. For every 1HC earned in interest (specifically called HCI), another $1 is donated to Haiku. The interest must be sent to the InterestBearer (person designated to donating fiat to Haiku, from HCI recieved), before it will be converted to a donation to Haiku.
- Interest across wallets may be combined (users may pool their interests).
- Users may buy/sell principle HC, not the interest
- Wallet must show interest earned, separately from HC in it. You cannot send your HC, only the interest, to the InterestBearer.
Etc. and so forth…
Haiku inc is not a bank or an investor. They are a non-profit handling donations. So if someone want to do something like this, it’s fine, but I don’t think it should involve the inc. So, do your stuff, and donate parts (or all) of your benefits to the inc or to some devs if you want to (or hire them to do specific work or…).