mmanvil74 said:
I think one idea would be to base the initial number of coins on a "visionary goal" of total market cap for LTBcoin at the end of the five years. For example, if we as participants determine the goal for LTBcoin total market cap to be worth $100 Million in 5 years (or $50 Million if that seems more realistic) then we could maintain a sort of visionary goal that one day, if our goal is reached, one LTBcoin will be worth $1 US Dollar. If we achieve that goal, not only are early holders of the coins rewarded exceptionally, but it makes the coin fairly easy to use at that point - a 2 LTB tip = $2. If we plant this idea in the minds of the contributors, we might just get there (whether it takes 5 years or 10 years who knows).
Of course we have no idea if that market cap valuation will ever be achieved but it seems like a lofty yet reasonable goal to shoot for ($50 Million) which is roughly the market cap of a small scale startup. Adam will have to determine what number he thinks is more realistic but I think the goal of 1 LTB = $1 in 5 years could be considered an important milestone, yet long term enough so it wouldn't amount to an obsession or damage the intentions of the network. So my vote is 50 Million LTBCoin.
At one time it might have seemed ridiculous that one Bitcoin would ever be worth $1.00 but now look at it...
I really like this approach and think its the right way to do it. I had considered making the asset callable (which is to say, at a set date and set price we could buy them back from holders wherever they were) but believe it's very important to be as confident as possible with such an endeavor. 50 million isn't a far off valuation, I believe TWIT is a 200 million company?
