vecvolta
commented
6 years ago Tweet.Chain
Dear Yep, et al. (Yep and nascent team),
I read this code and I'm convinced it’s time we should transform this brilliant idea into a successful ICO: a democratic and fair tweeting company: the Tweet.Chain (or something) Oh yeah, the Tweet.Chain. Here is a quick draft I wrote, hope you enjoy:
HAPPY NAPKIN DRAFT
Advertisers have to pay with ether for the opportunity to advertise on the Tweet.Chain platform (this is approximately 80% of revenue). The "firehose" (other 20% of revenue), is the public data, the tweets, and is sold to companies so that they can analyze their brand, sentiment, etc.
The revenue will be distributed with these rules:
Popular users, with thousands of followers, are paid with ether. And this also applies to less popular users. The monthly payment is made proportional to the popularity on the site, based on followers. The calculation of the payment is based on a logarithmic scale, creating an elongated pyramid. This way, payment per follower will decrease, as popularity increases. On the other hand, users that enjoy retweeting and liking other tweets, are paid for liking and retweeting. User payment = 6 % popularity + 4 % tweets
Offensive content is flagged and categorized by users, which are compensated with some TweetChain tokens. Users will decide to hide content they consider offensive. The decision to block the content is made by the user. Not the Tweet.Chain staff. Content violating copyright is being flagged by users and content owners. Bots simulating being users are automatically removed by AI, because they affect the economy of the system.
The management and staff have a salary. They better work to improve the functionality of the service because they will be paid a percentage. The salary of the management is always a % of the income.
Democratic organization:
- Tweet.Chain tokens are distributed at the ICO. Then, tokenholders can vote on specific issues that determine the future of the organization. Votes are weighted by quantity of token possession. Nevertheless, a tokenholder vote can't weigh more than 40%, even if he/she has more than such 40% tokens. This, to ensure democratic decisions.
- Voting will be held each quarter
- Specific issues to vote will be considered by upvoting or downvoting issues to discuss and vote.
- If the tokenholders decide to do something, the management team has to do it. :o
When necessary, there will be alliances with other blockchain based companies to protect content and/or pay the content creator for tweeting their content. If tokenholders vote that way, as it will happen in important decisions.
Verification will be done with Civic or KYC.Legal for users who want their identity verified.
Tweet.Chain runs on Nem (xem), because it uses the blockchain and the organization server, therefore it can run quicker. All the images, videos, and tweets will be on the organization servers, but the payments, metrics, etc, will be on the blockchain. At early stages, users will be allowed to link their twitter.com account to their Tweet.Chain, in a way that their tweets will be published at both platforms. This one as a temporary measure with the objective of promoting the organization growth, and facilitate adoption.
Well, I propose we start writing down the whitepaper, hiring a graphic designer for the website and then starting promoting the concept at icobench, icoreview, hacked, and finally, after feedback and wise decision making we can publish the announcement at bitcointalk.
Are you in?
Sincerely
vecvolta
APPENDIX (Yes, this napkin draft has an appendix)
CASH FLOW DIAGRAM
1° Advertisers pay ETH to Tweet.Chain 2° The monthly income is distributed paying ETH to:
- Cash cushion (savings), defined by tokenholders by voting ← Every business needs one.
- Tokenholder: 5% of revenue (proportional distribution) ← Because they funded the project
- Management salaries 0.1% or less ← Because greed must be stopped
- All staff salaries: 3% ← because it depends on the size of the platform
- Infrastructure costs: It depends on each month and size of organization
- Taxes (and other costs). Yep.
- Users: each user is paid using a function considering their activity and popularity vs. all the active users. (Total users payment = Revenue - Cash cushion - Tokenholder cut- Management salaries - All staff salaries - infrastructure costs - taxes.) ← Because users create content, dah...
ICO MONEY WILL BE USED FOR: 1% or less = pay ico’s organization cost 38% = programming etc 1% = creation of videos to promote the platform 60% = aggressive ref link campaign “a la paypal”
Note: If necessary, there might be a “preICO”
I foresee the above numbers and structure will change dramatically, based on our first meeting. Hey! If it is not anarchist enough, then we can broaden the voting system to include all platform users (the 5% of revenue to tokenholders can survive, even with that change, because code is law, and someone has to fund the project, right?). Well, you know... it’s just a draft! LOL!
I am running geth through the command line (geth-windows-amd64-1.7.3-4bb3c89d)
I used this command: geth --rpc rpccorsdomain="http://ethertweet.net"
I get a bunch of logs which look really promising about all sorts of things like 'Importing new state entries' and whatnot.
However navigating to "http://ethertweet.net" just shows me an empty screen with an EtherTweet title in the top left and "not connected to geth" in the top right.
Super interested in this project though. Hope I can figure this out :/