icanprogram's current view on FedoraCoin and the FedoraCoin Merchant Fund

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2014-05-04

FedoraCoin is doing good.

We have a solid network, good mining pools, and a steady community.

FedoraCoin was designed to make showing appreciation in online communities easier.

We currently have all the basics, now it's time to make good on that promise.

My focal point for FedoraCoin in the short run is getting more people to accept FedoraCoin on their website.

We have the wonderful w/ Fedoracoin (https://pay.withfedoraco.in) that makes it very easy to do so and World of TIPS (http://worldof.tips) to prove that.

Aside from just 'plain' stores, w/ makes it very easy to use TIPS in all sorts of settings.

You can for instance think of virtual currency in a game or karma on a forum, but the possibilities are endless.

I propose a fund that helps people with good ideas about accepting FedoraCoin in making those a reality.

The fund will offer subsidies for existing websites that want to add FedoraCoin payments or entirely new sites that have a good idea for incorporating FedoraCoin.

These websites need not be FedoraCoin-related per se.

In fact, it's even better if they're not.

Obviously, this fund needs to be run by someone.

TIPS4tat has offered to do this.

I think he's a good choice for the position since he's obviously involved with the FedoraCoin project but doesn't already have too much going on at the same time.

I propose to give him full power on the size of the subsidies so these can be set on a per-project basis.

The person that runs the fund has the following responsibilities:

* Set up a small website about the fund, with a way to contact and possibly a list of projects

* Handle requests in a timely manner

* Show off projects that were funded

Note that raising money for the fund is *not* the responsibility of the person in charge of the fund.

I will coordinate actions to make sure the fund has enough TIPS.

Since these are serious responsibilities, the position would of course require some compensation.

I propose this compensation would be a fixed fee per month, coming out of the donations to the fund.

The compensation should *not* depend on the amount of donations since fundraising is not one of the responsibilities of the position and this would create wrong stimuli.

A performance based bonus that depends on the number of funded projects can be discussed.

Right now I would like to get some feedback from the community.

If we can agree that this is a good action to take at this time, we should get started ASAP.

Thanks for reading,