The “Gridcoin Finance Team”: The other side of development.
In today's commentary, I am going to refine the ideas I put forth for a “Gridcoin Finance Team”. This purpose of this team would be to increase the market value of Gridcoin. My first post brainstorming this idea can be found at:
Suggestions for Gridcoin to Earn Market Value
I was able to find that the Gridcoin developers have considered the need to address the financial side of Gridcoin mining at the following link at Crytocointalk:
Gridcoin Finance Project
That discussion covers some of the issues I have raised, but I am going to going to focus on the need for a community team to set and achieve specific goals with the purpose of raising the market value of Gridcoin (GRC).
I will summarize my initial post, and then I will lay out an example of how such a team might be organized.
First, some basic concepts from my original post:
Gridcoin has intrinsic value because the generation of Gridcoin is based on the generation of scientific research via BOINC distributed computing. Remember though, intrinsic value is not always matched by market value.
Markets are driven by supply and demand. Gridcoin mining (based upon the generation of scientific research) provides the supply for the GRC. However, unless there is a demand for the use of GRC, there is no point in creating a supply of GRC. People will continue to participate in BOINC research, but will not create GRC. Since there are many other altcoins, people that create GRC need to find ways to make GRC more attractive than these other altcoins in the altcoin market.
My suggestion is a team of volunteers from the Gridcoin community to set goals that will achieve the end result that GRC raises in market value. These volunteers should have the skills necessary for competent recognition of objectives and the ability to accomplish them. Such skills may include knowledge of financial markets, social media, and salesmanship.
We need finance gurus, salesmen, social media wizards, economists, and evangelists.
Now let me move on to how such a “Gridcoin Finance Team” might be organized ( I am assuming that the community either includes members with these skills, or actively recruits such members): The community will need to decide how such a team would be selected from the community, and I am exploring possible models along those lines.
A- “Gridcoin Finance Team” Objective: To Raise the Market Value of Gridcoin (GRC)
B- “Gridcoin Finance Team” Roster:
Tom – MBA, experience in emerging markets
Dick – Long time experience in BTB (business to business) sales
Harry – Teaches economics, long time experience in currency exchanges
Satoshi – Experience in cryptocurrency exchanges, MBA student focusing on such exchanges
Steve – Multiple year experience in affiliation sales on the web.
Sam – Social media expert
Sally – Has been integrating Steem with research in Gridcoin generation
Maria- Gridcoin enthusiast, writes how-to guides for newbs and helps out via IRC and Reddit
Sandra – Gridcoin newbie, several years direct sales experience
Queequeq – Professional mediator
C- “Gridcoin Finance Team” Organization: Tom, Dick, and Harry have been selected by the community, and approved by the Gridcoin developers, to act as a “Organizing Committee”. They take the initiative to define goals that will increase the market value of GRC. They seek input from the Gridcoin community and they also research the success and failure of other altcoins. They break down the organization of the other volunteers into Roles. Roles are the roster of volunteers assigned to accomplish each goal. Roles may be assigned a leader, or not.
D- Define Goals to raise GRC value:
Get GRC accepted on cryptocurrency exchanges; provides opportunities for more altcoin buyers to purchase GRC
Recruit current BOINC users into GRC mining; provides more people willing to push for demand in reward for their contributions to science
Convince the institutions benefiting from BOINC research to accept GRC as tuition payments; sets a floor value on GRC
E- “Gridcoin Finance Team” Roles:
Role 1 – Get GRC accepted on cryptocurrency exchanges; Tom, Harry, Satoshi
Role 2 – Recruit current BOINC users into GRC mining; Sam, Sally, Maria
Role 3 - Convince the institutions benefiting from BOINC research to accept GRC as tuition payments; Dick, Sandra
Role 4 – Floaters, willing to aid other teams as required; Steve, Queequeq
To finish:
I hope this rather simplified organizational scheme makes my suggestion for a “Gridcoin Finance Team” easier to understand both in purpose and what would be expected of them to accomplish.
Please suggest other ideas for recruiting this team, organizing it, and especially ideas to explore in creating market value for Gridcoin. In the meantime, I'll be looking at the devs' original Finance Project, and hopefully cook up some suggestions for writing an organization plan.
Good Mining!
Calling yourself the "Gridcoin Finance Team" may cause confusion between your group and the Gridcoin Finance BOINC project.
Edit: Case and point: https://steemit.com/gridcoin/@stevescoins/the-gridcoin-finance-team-the-other-side-of-development#@rtw93/re-stevescoins-the-gridcoin-finance-team-the-other-side-of-development-20160821t193142285z
Good point. In the next installment of this line of thought, I'll call the idea the "Gridcoin Market Value Team". If it gets off the ground, it'll be called whatever the community decides to call it ;>
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I dont get new WU's since 1 or 2 weeks...
Did u know why?
OP isn't talking about the BOINC project 'Gridcoin Finance'.
Might be that the project you chose ran out of work. I am pretty much a newb with GRC myself. You should be able to get some help at the IRC gridcoin-help channel
Was thinking u know a little bit more about GRC Finance
Sorry rtw93, wish I could help you
https://kiwiirc.com/client/irc.freenode.net:6667/#gridcoin-help
dont forget tell us your fav coin in https://steemit.com/bitcoin/@swalayan/tell-me-what-is-your-favorite-altcoins-and-lets-pump-together
;p
It is a great idea and I like the roster. The hard part to me is...how do you get these people? Most of them will not freelance so you would have to find them on Steemit and other Social Media sites/forums with nerds like us who both dabble in crypto and have the experience you are talking about.
This is possible of course, but costs money or time and effort on social media marketing campaigns.
I think the initial starting point for the team would be to recruit one person who is good at organizing projects from the ground up, AND who is interested in or has a stake in Gridcoin.
I don't want to suggest a funding scheme via Gridcoin. I don't think that enough people in the Gridcoin community have been exposed to this idea, and I recall there was an episode earlier where coins were deducted from folks' accounts that led to an uproar. (I'll source this in a moment).
Gridcoin is still cheap in terms of market value, so one hope would be to find someone with these skills who is willing to bet on his own skills and buy a stake which is substantive in terms of Gridcoin and still cheap in terms of cash.
BUT I think it is going to take community involvement to start looking for the right people to get this end of Gridcoin evolution going. We as a community are going toi have to find these folks in our ranks, or come up with a recruiting team.
And returning to your point re: recompense, we might have to kick in a bit individually to provide a "buy in" stake for the volunteers we seek. A small holding in GRC (say 10,000) can provide a hell of a payback if the market value hits even Litecoin prices.
I am going to add this discussion to the next post on the subject, because we need an agreed upon plan to get moving
me too! I know that I don't have the expertise i am talking about here