Thanks for letting me know about your project, Dave. Very interesting!
Still, after watching both videos and reading through the comments, I think you might be limiting the potential benefits of having a new coin, and even its scope, by focusing only on ESL tuition.
Like Mike, I'm assuming your plan is to pay teachers, tutors, etc in ESL Coin that will eventually increase in value as students buy it. (Please correct me if I'm wrong there.) This is similar to the LTBcoin model, with service providers on one side and consumers on the other to a large extent. In your case, I think you could one up that and take advantage of the fact that a lot of adults who want to improve their English also have something to teach, be it their own language or any other area of expertise.
Allow me to take you on a slight tangent here and if it doesn't resonate with you, that's alright. One of my very first thoughts while watching your original video was what if this was Tuition Coin, instead of ESL Coin? For example, an engineer who wanted to improve his English could trade math or engineering tuition for English tuition, all online, with the coins being used as a unit of account. This would not just help attract more people to create the initial market and community, but it would also make it easier to have a wider initial distribution, which is a plus for any coin.
Interested parties teach their areas of specialization and initially get paid from the coin distribution. Soon enough, highly-demanded teachers will be able to command a 'bonus' that the student pays from their own Tuition Coin, with that playing out according to market forces. And eventually, as the initial distribution winds down, the student will be the one to pay the full cost of their classes, while still having the chance to teach something else if they have the time and skills.
Once you have a good user base mostly made up of people who are both students and teachers, it will be easier to attract third parties that are either, or (such as younger students and schools) and persuade them to buy the coin to pay for tuition or receive it as payment.
Thoughts?
