Allocated Budget Overview

[qwizzie]

Budget Overview

In order for budget proposal Vendor-Experience to pass, it would have to reach the 10% thresshold (yes votes-no votes > 10% of total masternodes) and
replace one of these current budget proposals as there is simply not enough budget funds available currently. Also keep in mind next month's budget will even be less.
(7449 according Dashwhale)

That is why it is so very important these days to introduce new budget proposals with as much details as possible as they will be directly competing against already established
budget proposals.

Far better would be to set the start date of new budget proposals to a date where more budget funds become available again (21st of April 2016 for example)

 

[AnarchoFrigidity]

Hi, can I point out that this budget could easily be squeezed to fit in the vendor-experience.
for example, dash price at time of Domain name budget proposal was $2.42. This month with the price at $4.30. 900 dash could be squeezed out of this budget alone.
How this would be done I have no idea. I also have no idea of what the politics are, did the sponsors fund this out of their own pockets of Dash or Fiat ?

 

[qwizzie]

Hi, can I point out that this budget could easily be squeezed to fit in the vendor-experience.
for example, dash price at time of Domain name budget proposal was $2.42. This month with the price at $4.30. 900 dash could be squeezed out of this budget alone.
How this would be done I have no idea. I also have no idea of what the politics are, did the sponsors fund this out of their own pockets of Dash or Fiat ?

This budget comes from both miners and masternodes and both agreed to contribute 5% of each mined block to this decentralised budget system.
Which means in total 10% per mined block goes into it and we can not spent more then that.

Its is all bundled in a superblock that will be put on the blockchain once a month and for the coming superblock we have pretty much reached our limit.
The difference in USD exchange rate is seperate from this all and can be solved (if necessary) through a spork i think.

The yearly cut in the block rewards will have an effect on the superblock amount as well
(currently 8022 Dash, next month after the 7% yearly cut in block rewards it will be 7449 Dash)

 

[AnarchoFrigidity]

What I can see needing to happen is, each month any budget that needs converting into fiat to pay for goods and service should somehow be recalculated.
essentially even though the quantity of dash allocation for the budget will remain the same, the value of the budget will increase or decrease allowing for more or less projects be funded.

 

[qwizzie]

What I can see needing to happen is, each month any budget that needs converting into fiat to pay for goods and service should somehow be recalculated.
essentially even though the quantity of dash allocation for the budget will remain the same, the value of the budget will increase or decrease allowing for more or less projects be funded.

i think they do that internally already with each budget but maybe someone from the dev team can explain this far better then me (this conversion to USD, including its variable exchange rates).

 

[alex-ru]

Since the first "test" phase of the decentralized budgeting system has proven its effectiveness, I consider it necessary to discuss increasing its budget from the current 10% ->
to 15% and then to 20%.

 

[qwizzie]

Since the first "test" phase of the decentralized budgeting system has proven its effectiveness, I consider it necessary to discuss increasing its budget from the current 10% ->
to 15% and then to 20%.

i think we even had some reply from Evan awhile back talking about possibly increasing it to 20% and a three days waiting period ? Sounded fair when i read it ...
Now if i could just remember where i read it

edit : https://bitcointalk.org/index.php?topic=421615.msg13498067#msg13498067

I said average participation, not peak. Average participation is 34%, which actually isn't too shabby. Maybe we could raise the threshold from 10% to 20% without any impact.

So 72 hours and 20% minimum?

 

[oaxaca]

Copying my post from another thread.
-----------------------------------------------------------
The budget allocation for February is now a 3 horse race. There are some proposals that are certain to pass this cycle, such as core team and dash.org. Then there are 3 others:

Vendor-Experience
satoshi-roundtable
transform-pr

As they say in the Thunderdome "3 proposals enter, 2 proposals leave!"

The tiebreaker for these 3 proposals is of course the level of support. At the moment, masternode owners have to choose which 2 of the 3 to support. Of course, if one of them was to withdraw and resubmit at a later date or for a smaller amount...

 

[TheDashGuy]

Hi, can I point out that this budget could easily be squeezed to fit in the vendor-experience.
for example, dash price at time of Domain name budget proposal was $2.42. This month with the price at $4.30. 900 dash could be squeezed out of this budget alone.
How this would be done I have no idea. I also have no idea of what the politics are, did the sponsors fund this out of their own pockets of Dash or Fiat ?

Resubmit the proposals for PR and CORE now that the price has doubled....

 

[qwizzie]

Resubmit the proposals for PR and CORE now that the price has doubled....

current strategy is that with a stronger Dash price we can attract more developers and have them working on seperate projects,
resubmitting already established proposals just for the sake of getting lesser budget amounts is undermining that strategy.

Its very simple, currently each new budget proposal will have to battle already established budget proposals for funding. In april we will get some more room to manouvre with regards to budget allocation.

 

[TheDashGuy]

current strategy is that with a stronger Dash price we can attract more developers and have them working on seperate projects,
resubmitting already established proposals just for the sake of getting lesser budget amounts is undermining that strategy.

Thats not what I was understanding when people were shouting "THIS BUDGET IS TOO LONG" from the mountain tops at camosoul and Solarminer.
Seems fair to resubmit every 2 months to make sure these things don't get overfunded, right?

Just going with the communities opinion honestly, but as I said, everyone needs the same set of rules or this "democracy" is definitely anything but a democracy.

 

[camosoul]

Good idea: what? We've never done anyting that makes sense and actually works before, I'm scared! Sweeten the pot with impossible nonsense until I feel not so scared anymore, which will never happen.

Continuing to do shit that doesn't work: Shit in a hat? I'll take 3! SHUT UP AND TAKE MY MONEY!

 

[qwizzie]

People will just have to realise there are limits to our budget proposal allocations and will need to adjust the start date of their budget proposals accordingly.
As time goes by these budget allocations will only get tighter and tighter.

The april / may superblock should have more budget allocation space as some already established budgets ends then.

 

[lynx]

Since the first "test" phase of the decentralized budgeting system has proven its effectiveness, I consider it necessary to discuss increasing its budget from the current 10% ->
to 15% and then to 20%.

No, no, and NO! Raise our taxes?!
Work within the budged you are assigned. Have more thing you wish to fund than money to fund it? Too bad, you have to choose. That's the whole point of having a budget.

 

[TheDashGuy]

No, no, and NO! Raise our taxes?!
Work within the budged you are assigned. Have more thing you wish to fund than money to fund it? Too bad, you have to choose. That's the whole point of having a budget.

Taxes? But its not your money so you aren't really getting taxed... they are giving you free money for running a masternode, in an evolving environment... which changes stuff sometimes..

 

[qwizzie]

No, no, and NO! Raise our taxes?!
Work within the budged you are assigned. Have more thing you wish to fund than money to fund it? Too bad, you have to choose. That's the whole point of having a budget.

we discussed this early in january on bitcointalk already, i agree with alex-ru that the budget threshold should be raised and personally think a certain waiting period should be established.
I'm not set on any specifics at this moment (as it is still an ongoing debate)

 

[lynx]

TheDashGuy It's not free money. Do you know the concept of inflation?

qwizzie Hum, maybe I misunderstood what he meant. Do you mean raising the threshold for the proposal approval, not raising the budget reward participation?

If so, I think it's inconsequential. The least voted proposal would still be kicked out of the budget. Raising the threshhold would only be required if we had way more money in the budged than we wanted to spend, and silly proposals would pass with just 10% of the votes.

 

[TheDashGuy]

TheDashGuy It's not free money. Do you know the concept of inflation?

qwizzie Hum, maybe I misunderstood what he meant. Do you mean raising the threshold for the proposal approval, not raising the budget reward participation?

If so, I think it's inconsequential. The least voted proposal would still be kicked out of the budget. Raising the threshhold would only be required if we had way more money in the budged than we wanted to spend, and silly proposals would pass with just 10% of the votes.

How does inflation apply to Dash being added into your account as interest from your MN's?

Thats all it really is, interest for collateralizing a node.

 

[qwizzie]

TheDashGuy It's not free money. Do you know the concept of inflation?

qwizzie Hum, maybe I misunderstood what he meant. Do you mean raising the threshold for the proposal approval, not raising the budget reward participation?

If so, I think it's inconsequential. The least voted proposal would still be kicked out of the budget. Raising the threshhold would only be required if we had way more money in the budged than we wanted to spend, and silly proposals would pass with just 10% of the votes.

i'm talking about raising the 10% threshold of budget proposals so it will be more difficult to get them passed (people will have to put more effort in them and really have to rally support to get them passed). They will still need to battle other already established budget proposals if there is not enough budget allocation but they will all be subject to that higher treshold .
Personally i like the 20% treshold that was mentioned before to have budget proposals pass.

 

[oaxaca]

How does inflation apply to Dash being added into your account as interest from your MN's?

Thats all it really is, interest for collateralizing a node.

No it's not. It's compensation for helping to run a healthy network AND ECOSYSTEM.