This is not fully thought out so I am just throwing it out there to see what people think of this. Personally, I am happy the funds are kept in BTC, it was clearly a wiser move than converting it all to grin, but some in the community wish the fund was in grin. This made me think, since the fund has just exploded in value, why not build a decentralized mining network that would serve several purposes:
- Perpetual money printing machine, rather than solely rely on the funds we have and future donations, we could put the fund to work to generate more funds
- Improve network security
- Build a dev fund/community fund in the form of grin
- Provide a source of grin for a faucet
- Point some miners to testnet to ensure testnet is always moving nicely (and a testnet faucet)
I think it would be a great sign if some of the war chest of funds was spent in a manner that reinvested into grin and what better way than to increase the network security and simultaneously build a grin-based fund!? It doesnt seem like it would take a ton of money to do this as well, so it wouldn’t have to seriously dent the fund either. However, I think it would be great if we used the funds to buy as many ASICs as we could (saying that because I know there are not many available). Who better to own the ASICs than the grin community!?
Personally, I think it would be fantastic if this resurrected the only open-sourced grin mining pool, and also allow random pool participants to donate some % of their rewards to the community grin fund. But last that I discussed with Blade, he seems to be done with pools. I just think it would be great if we helped foster the FOSS ideology that seems to align with the concepts of grin. It could also make it easier and more transparent for the funds. I would also like to believe that a lot of hobby miners would support the pool which could add additional security protection for the network.
Maybe we could even promise to spend x% of funds on new ASICs every year to both support the ASICs manufacturers and continue to improve the security of network and growth of grin funds.
This seems like a win-win across the board and seems like it would solve some of the community concerns that we’re sitting on so many BTC and very little grin.