Raising 100 ethereum coins in 100 days for startups to fund their leanstartup experiments
This is the technical part of our story. Everything quoted is directly from slack. The technical guy behind this project, the brilliant Paul Pham. My responses in line.
But for now, just the above link is enough for people to pay exactly 1 ETH into.
The link “above” is THIS ONE
The “people” are people who ALREADY own ETHEREUM or are extremely motivated to learn more about it. (otherwise they might be more interested in our GofundMe campaign). My personal hypothesis is that this post on Medium should be enough to raise the first 100 coins. We may not raise them, but I don’t believe this format will be the reason if we fail.
I can write up some instructions later tonight and attach verified source code to the contract, so people can inspect it for safety, and also try to hack it.
Nah, let’s see if we can get 10 coins this way before we ask you do do any more work. I do not think the verified source code is our biggest risk for the first 10 even the first 100 coins.
You should also be aware that this contract could totally get hacked and the money drained, in which case we would all learn a useful new attack vector and defense. I can’t offer any guarantees that this won’t happen, only that I’ve done my best to defend against all publicly known hacks.
Risk taken. And now we are passing along that notice to all supporters. Let’s learn with 100 coins before we try and raise $31 million right?:)
Here are some things I think people / investors need to trust any crowdfunding contract:
Minimum viable crowdfunding. Let’s dissect the hypotheses you have here and then let’s raise these coins:)
* A clean, beautiful UI that displays progress towards goal, backers so far, and a countdown to the deadline.
* A bio of the beneficiary and the contract owner, and what the cause is for
* What kind of return people can expect
* A forum for Q&A and discussion (in this case, I’m happy for this slack channel to act as that)
* Insurance against the contract getting hacked
- Clean BEAUTIFUL UI? Let’s see if Medium is enough, or let’s a/b test Medium against Unbounce:) So far we have raised 1/100 coins
- Beneficiary is unknown, that’s the cool part. It is ANYONE in the world willing to talk to customers and test their startup hypotheses. Past beneficiaries like Steven Sherman are still testing hypotheses — if he wants a medium post shared or a link to his website he can post it below and we will blast it out to the world.
- No financial return on this small raise of 100 coins. More on this coming soon.
- Questions? Respond right here on medium or on the slack channel (behave yourself in the channel if you ask to join)
- We make no assurance that the account will not get hacked, that’s ethereums job at some point in the future? For now all we can do is protect ourselves as you have done and limit the raises to 20k here 200k there before we are sure.
