skharrah if he dumped there are only buy orders for like 4 billion max, so I dont know if that would be a good strategy, as people probably wouldnt buy into reddcoin if it went below 1 sat, I dont know just seems like a weird thing to do. Maybe he already sold them of the exchanges to someone at say 2 sat or something like that, with discount because of the impossibility of selling them on cryptsy, I dont know, but something like that seems more plausible to me 
Okie79 I’ve always questioned the decision to abandon Reddit, it’s high time we get that rolling again IMO.
Or he may have done something honourable like pass the coins to Reddcoin Ltd under jonathan’s control to be used as funding for future development/developers ? Just giving an alternative positive “angel’s advocate” perspective. Actually few of us have any insight into the actual circumstances, so this kind of speculation is pointless and possibly harmful.
henry skharrah Any coins that laudney mined/bought/staked/received are his to do what he pleases with. All of us had the exact same opportunity to pick up RDD in the same ways.
Also, I seriously doubt there are more than 2 or 3 people with >1 billion coins.
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tralf Gnasher lionzeye I’m relieved to hear that you guys remain committed to the coin. I can’t wait to see what you come up with. The Browser Wallet in particular will be a major improvement in the way people are using cryptocurrency.
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Maybe Shane, the guy behind ReddAPI would consider taking over now that laudney has resigned. It seems as though he may have the skills and knowledge to do so. It’d make for one hell of a story given their falling out, that’s for sure. If you don’t know what I’m referring too, read this
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GrayPhoenix
I have no reason to deviate from my plans. Reddcoin has been good to me, and I want to give back.
I see a potential for the idea i am working on and I hope i can bring it to fruition.
Reddcoin is technically sound and i like POSv
My reward is being able to make something useful that everyone appreciates.
tralf and lionzeye efforts will also bring further required features.
Ryan
Who ever takes on the lead role, needs to be able to communicate effectively, be working for a common good and a team player.
It was disappointing to watch the fall out of that little public spat. But it was also telling of how people handle situations under pressure or when things are not going the way that you would like (and unfortunately the link to Shanes side of the story is not available).
Everyone
For the sake of being repetitive, for us remaining and being committed to the cause, this is not our full time career.
We all have day jobs or study and have family, wives, kids and/or partners that also need our attention.
I ask that whatever direction efforts travel, that you consider what it really takes to bring some of these efforts into reality.
We have everyone’s best interest in hand
I am sure in the coming days or weeks that the team will consolidate while we sort out who will take on the lead role.
So in the mean time, we will continue with what we are currently doing.
For my own part, i will continue to help out and communicate here on the forum, (and on reddit) whenever possible
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Gnasher YOU are fulfilling the basic requirements of communicating with the community and giving us the information we need . Thank You. Its pretty simple to tell people whats going on. If we want this project to move forward it might be time to consider a round of funding to make it possible for people to work on the coin full time. I don’t expect anyone to be spending their time developing for nothing.
Redshift Round of Funding would be good as it will attract many devs
GrayPhoenix I’m not saying he can’t do what he wants, I just commented about the massive activity. I’ve been in with RDD since the IPO, I mined my heart out, sitting in top 140 RDD coin holders - I get it
Redshift
Having another round of funding would be one way to push development,
Another would be to have a bounty attached to key features, or bug fixes that are required
This also seems to be a common and accepted approach.
One area that needs promotion is attracting the broader community to do development.
Something I envisage for is a bit like a blind auction/or kickstarter.
- Put on a list of features that need to be done
- Put a target amount
- People (community/investors/etc) can donate to the feature(s) they want to support
- Developers can bid for the feature they want to develop
- Bounty is released on acceptable completion
- The blind auction part is, you can see which is the most popular items to dedicate activity, but you don’t know the value attached
- If targets are not reached, or time periods lapse, the fund get rolled back or pooled, or any other ideas that might come
Clearly the above needs to be thought through more and with clear details about who controls the funds, determines completion, etc
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Gnasher Reddcoin We should also be advertising for a new lead developer right now on Bitcointalk and Reddit. That position needs to be filled by the right person. Someone with technical ability, dedication, management skills, and a good picture of what needs to be done to make Reddcoin a success.
GrayPhoenix I believe this will happen in due course.
I would imagine just waiting for the dust to settle a bit after such a big announcement
Gnasher I think except managing the funds other things can be determined by the community such as completion time features to be made priority etc.
I may have missed the “funds” discussion. However, I don’t believe there has ever been an accounting for any funds. One has to believe someone is paying for the domains, and server expenses. When that ends so ends the coin.
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Does the accounting of the funds need to be public??
Personally, i am of the opinion of not required as it is not a public company.
Unless there was a clause in the initial offering stating that Reddcoin financials would be made public.
It doesnt take much maths or logic to workout where the funds were spent in the last 18 months especially when 75% of the value of the IPCO has been wiped with the Bitcoin downturn.
The coin will end when there is no interest to keep the coin alive
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Gnasher Legal issues need to be resolved by those with the expertise to provide advice. Financial data should be provided if and when there is a Funding Target Set then any disbursement should be public.
Who is getting paid and for what.
As for the End of Laudney era accounting I cant say. Reddcoin Ltd has its own requirements I am sure…the IPCO people may have some sort of legal agreement for what was done/proposed but I am not aware of any details.
Redshift
Right, as expected there are many layers and Reddcoin Ltd will have its own requirements
As for the legal requirements (if any) I certainly am not qualified to offer anything other than my opinion which is all i will give.
I was not involved in the IPCO in anyway so I don’t know what was presented as a part of or during the offering.
Typically from what i have read on different coin sites, these seem to be pretty simple arrangements
If i understand the IPCO concept, investors buying in, get a certain quantity of coin in return and were suppose to hold them for a period of time before selling. This is different to a traditional IPO (which has many rules and laws) which most people would be familiar, where the investor will receive a certain share in the company and is used to transition a private company into public. The question then becomes, is a IPCO the same as IPO. When you start digging outside of Reddcoin, there is no clear path.
Would love for someone to actually clarify this information for me as the way I see they are 2 very different outcomes.
My opinion on IPCO is that an investor is not getting a share of the company but rather an output of coin, with the expectation that the coin will have a value. I can see where if it was a share in an actual company (IPO), then accountability of expenditure is obvious.
The other thing i would like to find out is how other coins who have launched under an IPCO concept have accounted for their expenditure. I did some searching today and turned up zero information. Even in the crowd funding arena this does not seem common to share where the money is spent, but rather what it is planned to be spent on.
Anyways, another task i did today as I was curious, was to do some rough calc based on the amount received during the IPCO.
For the amount raised, the duration of running, the costs involved and the depreciated value of bitcoin over the last 18 months
I am satisfied that from the the amount raised that is was spent honestly and no one is running off with the bag.
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Gnasher If you would be so kind as to publish your rough calculation and the assumed data you used to come to your conclusion it might be helpful and if nothing else spur some research and produce some accurate numbers.
Jonathan Pattenaude may want to weigh in and give some facts and figures with an accounting of Laudney’s achievements for the record and for future reference. If not then a community fact finding mission will be to go back through all of the earlier posts on Redddit or the web for any Data relating and then start an informal accounting process using the available data.
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lionzeye Sounds groovy! :o) I still have my Reddcoin and enjoy staking them…looking forward to more great software from you all.