Tuesday, 2 February 2016

Looking for feedback on an idea to fund core development in bitcoin


Funding of core development in bitcoin has always been a concern. From the Bitcoin Foundation to MIT and Blocksteam, many don't like that it's funded by institutions that could be considered "special interests". There should be a way to fund it, via the community.One of the most popular apps for bitcoin is gambling. I think there is an opportunity to use gambling to fund core development. I'm thinking of creating a lottery, where ~70% would go to the winners, 25% to core devs, and ~5% to the project. Participants would make a guess at the last 6 or so characters of the certain future block's hash. Each entry would be 0.005btc or something close to $2. It would all be auditable on the blockchain.I'm just looking for basic feedback on the idea. via /r/CryptoCurrency http://bit.ly/20FJsvJ

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