Most people, including some Mastercoin team members, seem to be unaware of the tremendous amount of money slated to be given away to EVERYONE who has completed a bounty (including hourly, role-based, and task-based bounties).
Here are some important facts about this distribution:
- We haven’t given any away yet, but we will send the first batch when the distributed exchange is finished
- The first batch, which is half of all Dev Mastercoins vested until now, is currently over 6100 MSC, worth ~$750,000 at current prices
- When the distributed exchange is finished, we will have paid out around 600 BTC in bounties
- That means every bitcoin we pay as a bounty comes with approximately 10 MSC attached. (Although the ratio may move around quite a bit in the future)
- 10 MSC are worth about 1.5 BTC currently, which means that ALL Mastercoin bounties are worth more than double their face value (at the moment)
- Role-based bounty salaries are currently more than double what they appear to be, due to this extra bonus.
- Note that the calculation for role-based bounties will include partial months, so there won’t be any incentive for anyone to delay the bounty
- Due to the large accumulation to be given away, the completion of the distributed exchange is going to coincide with around $1 MILLION given away (combining the 300 BTC DEx bounty and 6100+ MSC)
All this has been public information for some time, but to my knowledge, an estimate of this sort of what the impact will be has never been done. If some Mastercoin people don’t know this, the public DEFINITELY doesn’t know this.
One thought on “Mastercoin Foundation Paying Out **~$1 Million** upon Completion of Distributed Exchange”
But did the community receive in return $1million in effort? I wonder if you could try to quantify the level of effort which was received in exchange for those $1Million?
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