AICoin is a token with a built in smart contract that allows token holders to vote on issues important to The Collective. We will hold our first vote on the 21 – 24 of October. We will provide full instructions closer to the time, but for now I’d like to put the two issues in front of token holders for your consideration. Please add your comments to this blog so that everyone can see what is being suggested and we may refine the choices available.

Issue No.1: Dividends

The subject of whether or not dividends should be issued on new equity highs from cryptocurrency trading comes up again and again on our forums and through email communication with The Collective. These are the initial choices being suggested for the ballot.

Leave things unchanged and issue no dividends. Currently, when a new equity high is reached 40% of the profits are returned to the Coin Pool to scale up trading, 50% are moved to the Start-up Investment Pool and a 10% Management Fee is issued.

10% dividends, 40% Coin Pool, 40% Investment Pool, 10% Management Fee.

20% dividends, 30% Coin Pool, 40% Investment Pool, 10% Management Fee

20% dividends, 40% Coin Pool, 30% Investment Pool, 10% Management Fee

30% dividends, 30% Coin Pool, 30% Investment Pool, 10% Management Fee

Issue No. 2: New Coins for Trading

Several people have suggested other coins that might be to the mix of what the A.I. trades. If you have any suggestions, they must be received no later than Thursday the 12th of October. This is needed so the risk team can assess whether or not the coins meet the criteria set by the service provider to manage Coin Pool risk. Coins suggested must demonstrate all of the following:

There must be a reasonable amount of liquidity in the market.

This means that on exchanges where the prospective coin is traded it trades regularly. This is so that if the A.I. wants to get into or out of a trade we don’t sit around waiting for the orders to fill. Remember The Collective can be trading hundreds of thousands of dollars worth of crypto with each position it takes. It’s not like us trading one, two or even ten bitcoins at a time.

This means that on exchanges where the prospective coin is traded it trades regularly. This is so that if the A.I. wants to get into or out of a trade we don’t sit around waiting for the orders to fill. Remember The Collective can be trading hundreds of thousands of dollars worth of crypto with each position it takes. It’s not like us trading one, two or even ten bitcoins at a time. There must be a reasonably small spread for trading purposes.

This refers to the price of the bid and offer in the market at a given time. If the bid and offer is too wide, this can be a signal that the coin is not being actively traded. It also means that trading the coin could be very inefficient and costly, making profitability that much harder to achieve.

This refers to the price of the bid and offer in the market at a given time. If the bid and offer is too wide, this can be a signal that the coin is not being actively traded. It also means that trading the coin could be very inefficient and costly, making profitability that much harder to achieve. The prospective coin must be listed on at least two reasonably reputable cryptocurrency exchanges.

We need the ability to trade on at least two exchanges as a function both on the size of our trading and the reliability of cryptocurrency exchanges as a class. Consider exchanges that you yourself would be happy putting your precious coins onto, so that we have a reasonable expectation that The Collective will not end up losing its cryptocurrency to fraud, misconduct or mismanagement.

These votes may be returned to many times over the life of The Collective. As the strategy matures and achieves results the situation will change and it may be that while we believe issuing dividends today is not right for us, when we revisit this issue in a year or two years’ time, the opinion is entirely different. Also, choosing new tokens or retiring old ones is an issue we will revisit many times as the cryptocurrency markets mature and the Coin Pool grows.

Aicoin web site: https://www.aicoin.io

Source: https://www.aicoin.io/2017/10/03/october-2017-xai-voting/