I am sure that Dan is not spending 5m sfx on himself but on development. Just take into mind how much it cost to run a company with few developers, economist, hr manager…probably like 10 people and no one of us is giving any money for it.
If you’re buying sfx you are literally paying Dan as he dumps the premined coins on you. It’s that simple. I’m sure a lot is going to development, but the “out of his own pocket” line is not true now.
But that’s not the hill I care about dying on.
That’s 100k the first 6 months and expected to grow larger each month after. Is Dan spending 100k per 6 months on all this right now? How much would be worth it? 200k per 6 months? It’s very confusing he doesn’t think the volume will grow to support the idea him and Ivana built (who has an economics degree btw)
That makes no sense. If I sell, I get something in return, not paying anyone. BTW currently with that money you could not cover development costs for maybe 3 months. And as you mention that you thought that 5m will be for balkaneum development going forward. Why you think it is not a case since he is an CEO ?
And you think 100k is enough for 6 months for development ? Maybe for 2-3 developers and nothing else
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Financially wise Dan is right so far, 5.000.000 SFX isn’t that much ATM. it’s worth about 35.000$ while the average Software developer in America gets around 100.000$ a year.
So when he says we are not paying him anything I would agree…
He only got a very small amount of money for selling SFT at the beginning, and only keeping 1% is fair aswell…
Yes, BTC Price rose in 2017 quite strong and that probably fired up the development…
I wouldn’t blame Dan for misusing other peoples money, cause he just isn’t. It’s not fair to say that.
But I also believe for the future of the project there should be a way to finance it and keep the community deciding who get’s the developing funds then…
But I also hope Dan will get a fair share of it for sure, since he deserves it, but that’s two different stories.
I would agree on that as well, the minimum amount of tokens shouldn’t be to high though, but voting with just 1 or just 1000 tokens will just be to much on the BC.
Having a minimum like 10.000 or 25.000 could make the barrier of entrance low enough for enough people to participate without the noise of tiny accounts…
When you vote where the money goes there should be a minimum of voices someone needs to get anything aswell. Dev Funds could be splitted, but if someone only gets 0.1% of voices I would ignore it, it should be at least 5% or something like that.
I have to concede this sounds like little kids. We’re about to launch and you are little kids eddie jt whoever you guys are. Just pretending you have something to say. Move along. Or keep nagging and screaming but you will fade out.
If you continue to harass us, you will be banned and any time you come back you will be banned. Thank you.
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Hello @dandabek,
You’ve always been a friend to us as has been shown by your dedication, commitment and transparency to the Safex community. You’ve attracted truly decent and competent folks such as @Rich.bate and the great staff at Balkaneum. You are the true force behind the outstanding development and growth of this project thus far. Your vision has been to build something truly special and to borrow from a cliche, you’ve “put your money where your mouth is.”
It’s so easy to get frustrated when things aren’t happening fast enough, or happening as we thought they should. I too voiced frustration at times, particularly about things I didn’t understand or could not appreciate how complex a lot of this stuff is. I bought into Safex August of 2017, two short years ago and I’ve seen a lot of development and progress since then. I plan to stay and will continue to cheerlead on the sidelines. You could have abandoned us at any time, but you didn’t. You achieved a good measure of success in your own right, you had a lot of money, but then you thought of the community and being a sincere guy you said, “let’s build this thing”. If I had the skill set I would have liked to contribute.
I look forward to what comes next as you are about to embark on realizing your vision. All the best!
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but sir, did you read everything?
There lies the problem, Little kids with too much time trying to educate themselves about something they will never really understand. We all make silly comments from time to time but to get into a bitch fight is ridiculous to say the least. Moreover, I had thought there was quite a lot of good support from the community members all along, this has swayed a bit recently and is not helping the project. You will most likely not see any serious investor challenging the project proceeding at this stage. Once everything is clear and MP etc… are implemented, well then, the comments can be treated with respect.
It was a simple question of whether community voting with Safex Token was still a thing. Which we found out it was not. The blue paper is obviously old and outdated. You can say it’s childish but he did put up an update after I asked so it couldn’t have been that childish of a question. If you think any other point I raised was childish feel free to comment. Otherwise you’re just name calling.
Everybody asking questions here are from 2017 and have probably invested more than what your mom an pap give you as an allowance, so pls, stay on the side while grown ups are talking. Other bunch, are kids newcomers that want to buy cheaper per mil than a can of coke, so they can feel like millionaires.
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I see so much clearer now. Thanks, and goodbye
What’s ridiculous is making a perfectly valid question, have dan call me a child over it, then see he took my suggestion and made an update lol. The head of marketing had no idea Safex tokens lost user governance (Which was outlined in the blue paper and advertised for years) until I asked Dan here. How can the lead marketer not know the basics? Idk. But it was good to see it finally get addressed somewhat. At least acknowledging they removed it is a start.
Moving forward instead of the developments being voted on and funded by a self sufficient marketplace (as outlined in the blue paper) they will be funded by donations to Dan. We barely raised enough to pay for livecoin to list us. If 100k isn’t going to do much for development I see no chance the community can raise a similar amount. Any thoughts?
That’s completely not true. I don’t see you taking any of my responses in your next commentary. So you are at this point just trolling.
You can see my post of how the community can participate in the future development. Nothing has changed fundamentally, only in how we achieve the same goal.
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Let me rephrase it then, instead of using a small % of sales to help with development (yes 100k the first 6 months is small but it’s better than 0) the plan is now to rely 100% on donations from sft holders by using an auction system to vote for and fund proposals. Is that correct? How is the community expected to raise 100k or more when we only raised a few btc for an exchange?(which I donated to btw) The fee at least would of load some of the cost from holders.
There is no trolling from my end. If there was an updated blue paper I could just read it and not have to chase down these answers. It is different from the blue paper though and since the weekly updates don’t cover these things here we are.
I prefer to have an open discussion about this, and I am glad to do so. So far I have taken the lead and allocated everything I can into getting a product that can be sustainable. I have a fair bit of tokens so I am highly interested in the success and future success of the platform so I would always chip in my piece.
Our so far expenditure is lower than most across the board, but we are leaner to accommodate for it. Being agile is something that I personally value, so my approach complements that. (agility: cost, location, committment (incase person is not long term thinker)) so many factors go into who gets the allocation.
That being said, whitepaper will cover the marketplace, and then we can think how to manage for the future. Balkaneum will continue to have full time developers on safexcore, but if we want to expand faster and get more coverage we will need to think something up.
Let us focus on delivering the first round of marketplace features, start revenue flow making it possible, and then discuss how we can participate with something that is flowing. That is what is in my head (roadmap) wise. In the community section 3rd phase it has that platform which I speak of.
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When we raised the btc for livecoin we only had a small amount raised. 5btc or so. That number is nowhere near 100k usd. What types of plans do you have for the community to raise an amount close to that with pure donations aside from just an auction system? I just don’t see how the community can get close to that number which you’ve described as essentially nothing. The fee however small, would have offloaded some of the burden. Now 100% falls upon holders instead of a quasi self sufficient system.
To me it sounds like you removed it because 100k is nothing and at the same time expect the community to donate 100k+ over the coming 6 months after the mp launch. I don’t see how we can afford that at all. That’s a lot to ask of the community when so many of them haven’t been in profit since 2017.
If other community members would like to chime in on the amounts they’d be willing to pay in development donations it would help get a grasp of how much the community could realistically raise. I have a feeling it’ll be below 100k though…
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I could donate around 5%-10% of my dividends
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That’s the point, if there is no revenue streaming into safex then it is near impossible. It wouldn’t be sustainable.
I think that the chicken and the egg problem is already solved: I fronted the $$ to get blockchain and marketplace put together, now if the world finds value the price will gain and people will do business on our platform: then we can have something to go forward with to finance exchange listings and developments.
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I still hope that when Marketplace comes out exchanges come to safex and list it for free. Why should we pay them taht they get extra fees for Safex Trades? Bitcoin and ETH don’t pay fees, why should safex do?
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“That’s the point, if there is no revenue streaming into safex then it is near impossible. It wouldn’t be sustainable.”
That’s understandable, but 100k is still more than 0, so I’m confused as to why you’d take it out. We will still need to vote on donated treasury funds. What if value is found? Your own words stated 500m would be easy. Has this opinion changed?
Also, the main point here was community voting with Sft. Even if you remove the fee and treasury what was the reason for removing the voting function of sft? You said something about even if you tally up your coins it doesn’t work if people don’t adopt it, but I was under the impression those we selected as lead devs would be under an obligation to the votes. For years this has been apart of the ecosystem. It sounds like this decision has made Safex entirely centralized to balkaneum. Will we still be able to vote for a new lead dev every 3 months or is this project always going to be centralized under balkaneum?
Moving forward, since you do not have mp funds coming in, how will this affect development? Will you scale back the number of employees now that the mp is coming out? I don’t see how it’s sustainable to keep this many people working without a source of income.
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