Proposal for the Grin CC to flexibly buy around 0.5BTC 1 BTC (1BTC = 50k € ) worth in GRIN.
The purpose it to buy ahead and make sure we always have around 0.5BTC worth of GRIN for paying Funding Requests. The purpose is not to exchange right away, but to have the funds allocate so we can flexibly buy in when there is a need and good opportunity/rate to exchange.
We do want to discuss this with the community because of our spending guidelines, e.g.
Inappropriate use of funds:
4)Investing money in physical or digital assets.
In this case the purpose is not speculation but rather practical. This first buy in is a bridge fund till the miners arrive and produce enough Grin for funding Requests. Let us know what you think. It can be discussed here as well as in the Grin CC meeting on Keybase at the 23th of November:
How much is in the grin fund at the moment?
Would it be better to ask for donations first? if that fails then this would be the only option until the cc gets the miners.
We need enough Grin for upcoming payments, which the community decided on will be paid at least 10% in ツ . But thanks for your input, I do think we should only buy what we need to bridge the gap until the community miners kick in.I will make a rough calculation of what we need,
O, one thing very important I forgot to include , this is about a flexible buy in. Not buy at once, just have flexibly some funds agreed to be allocated to buy in at the right time. I modified the description and title accordingly.
thinking on this a bit before the tuesday community meeting some possible scenarios.
A)fulfill the proposal asap - begin 10% grin payouts on contributions (aka the keep it simple approach)
B)hold off on fulfill proposal until miners are situated - pushes payment in ツ for contributions back.
C)Hybrid-B: hold off on proposal until miners are situated + use this as inspiration to commit to running some sort of charity fundraiser. Doing this would serve as community building and keep strong the shaking cup side hand. Already this post has garnered financial support from inside the community so it may well serve as a case-study of reaching to outside established channels for support. After all we are a project that runs on donations. Though I can easily see us reach out for support only to receive more btc donations.
D) Do nothing. imo not really an option as to prior agreement to pay out 10% to contributors- however the timeline may be negotiable depending on urgency
Also, I don’t see an issue with this proposal infringing on the spending guidelines as I personally see this as currency conversion for practicality. not a currency investment/speculation play.
we now have 2,001 ツ
, this is about a flexible buy in. Not buy at once, just have flexibly some funds agreed to be allocated to buy in at the right time. I modified the description and title accordingly.