Expanding the development team?

[psionin]

Something else to consider is the potential benefit of expanding the development team, perhaps in the direction of more R&D. I think it would be cool to not just have Max Keiser mention the coin, but also be able to say something interesting for the audience, like "yeah with this coin it's really simple, you can just download and buy it directly from the wallet with a credit card".

It may be viable to just copy new developments from the bitcoin client as they come along, but it could be possible that novel development would comprise a substantial amount of value in a crypto coin's market assessment. The unique 51% defense is good, I'm just saying that there may be room for more things like that.

The key question here is "what is the projected development capacity and cost for running the software aspect of a successful crypto coin a year from now?" It could be fine just the way it is now, I don't know.

Media exposure is important, but if too much of the funding goes into that, while other aspects are not cultivated, then it's more like a pump.

Just some things to think about. I think that finding the right balance is important here.

[MicroGuy]

These are some excellent points.

In case you were unaware, a complete rewrite of the client from scratch is underway. The new client will have a multi-threaded code base and other unique features being kept under wraps. This was posted to the Facebook group a few of days ago:

Client's on the way.. I hesitate to say when as it is a large undertaking.. but its going well so far.

The client will be multi-platform and completely standalone. As far as features.. I am hesitant to release specific information ahead of time.. There will be several new features, some of which will be completely new to the crypto-currency scene and some refinements to the existing style of doing things. I know that isn't much to go on, however one needs to be mindful of competitors when releasing specifics.. we do not want to be copied.

With that being said, the board is unanimous in that we do need more developers to work in a supporting role under the guidance and direction of the existing development team. Ideally, we could use 2 additional competent coin developers to join our team of engineers.

[tadspoles]

Good job!  Great to hear!

[psionin]

I see. Looks like everything is going in the right direction then.

[MicroGuy]

I see. Looks like everything is going in the right direction then.

I'd give ourselves a B+ for development and a D- for marketing. 

[tadspoles]

I agree fully with this assessment.  The thing is though, it's not a static thing.  Next months report card may bring new results. 

I honestly don't see a better way of working on marketing than the code change I suggested.  I'm not saying that because it's my idea.  I could care less.  I'm saying that because I have invested in GoldCoins and I'd like to see a return. 

GoldCoin needs money and motivated marketers to improve.  Those are just the real world facts.  If some group had 1000 bucks to start with a week, then they could work on radio ads, etc.  That 1000 bucks hopefully will turn into 2000 then 4000, etc.

I just don't see a better way to ensure GoldCoin is marketed/developed, etc.  I think what would happen is at first an address you submitted would likely get the most votes but as that 1000 bucks turned into 10,000 a week someone with better skills would come along and compete as they should.  When it turned into 100k someone else would compete, etc.

[MicroGuy]

I agree fully with this assessment.  The thing is though, it's not a static thing.  Next months report card may bring new results. 

I honestly don't see a better way of working on marketing than the code change I suggested.  I'm not saying that because it's my idea.  I could care less.  I'm saying that because I have invested in GoldCoins and I'd like to see a return. 

GoldCoin needs money and motivated marketers to improve.  Those are just the real world facts.  If some group had 1000 bucks to start with a week, then they could work on radio ads, etc.  That 1000 bucks hopefully will turn into 2000 then 4000, etc.

I just don't see a better way to ensure GoldCoin is marketed/developed, etc.  I think what would happen is at first an address you submitted would likely get the most votes but as that 1000 bucks turned into 10,000 a week someone with better skills would come along and compete as they should.  When it turned into 100k someone else would compete, etc.

Some stand-alone variation of your idea would probably be best that would compliment the existing client.

The interesting psychology of these coins is that once a coin reaches a certain range it tends to cling to that range. You can take Devcoin for example which is staying in the top 20 on extremely low volume.

I think what we need is a boost into the top 15 to get the attention of the masses which will lead to community growth, new exchanges adding Goldcoin, and accelerated mainstream adoption. This could easily be achieved in a matter of days with a single celebrity endorsement.

[tadspoles]

A standalone variation would not force GoldCoins into an address.  That's the problem.  We beg for donations now.  It's not going to happen.  This idea has not been attempted before.  If let's say ANY current coin uses this idea, I guarantee you it will keep climbing up the marketcap lists as real money will be used to make that happen and it encourages a natural competition for the best results--all built in.

I think a celebrity endorsement will work.  Along with many other methods.  It also helps to grease palms.  I guarantee you that's what happened with a lot of the current endorsements.  You can't grease palms without having the grease. 

Anyhow, I truly hope GoldCoin uses this idea because it is the best possible combination of a decentralized/centralized model.   Someone is going to do it now that it's out there.  God that sounds egocentric but I'm really not trying to do that.  Hell, someone else may have already said it.  I don't know.  I just had the thought and I tried to shoot holes in it and I just can't.

I suppose it's a risky move or difficult to do development-wise. 

[MicroGuy]

I think a celebrity endorsement will work.  Along with many other methods.  It also helps to grease palms.

In my view, if we have existing ideas that will work in conjunction with the existing coin architecture VS. ideas that require a comprehensive client overhaul, new ideology, new approach, a new philosophy, along with another hard fork, that we should probably go with the former rather than the latter.

I think your idea is great but it needs to be done in conjunction with the creation of a new coin.