Profit Sharing
I'm not 100% sure how this will work. Basically, there is a revenue share that will accumulate from fees to use the card. After talking to the DASH biz dev team, we want to pass the profit back onto the masternodes, miners and community. Would love your feedback on how to do this!
OR
We could just use the funds from the profit share to make the fees lower. I need to ask them about this.
Seems like this idea is the most favored. I will negotiate the rev share and then use that to make the card price and fees as cheap as possible.
I wanted to emphasize that this isn't so much of a choice, as an inevitable conclusion.
How do you Profit Share? You can't pump duffs back into the blockchain once they're removed. Same problem as the budget system's proportionality failure results in free money regardless and burn if it not used.
It would also make an accounting headache.
Better to leave it fiat-side and reduce the fees.
This simultaneously creates a carrot for the simple-minded: "DASH's fees are lower, lets use that instead."
If it's stupid, but works, it isn't stupid.
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How opposed would you be to allowing this service to evolve?
I ask because cards are an awkward and counterproductive step towards what should be; direct use of crypto.
But, once that middle man starts getting paid, that middle man doesn't want to quit. Even if that middle man is being simultaneously handed an opportunity for something better. Once there is money hose, change is unwelcome... Ask a CPU miner... Not to mention the double-fee liability and fraudulent misrepresentation of the conversions as capital gains.
If you have a DASH --> fiat path, you could skip this silly loop.
You could eliminate the burden on the consumer by supporting vendors directly with a crypto > fiat service. Vendors already do AML/KYC on themselves. When is the last time someone paid with cash and filled out ID forms?
We don't really want a card. It's a burden to the consumer that fills in the gap for vendors who have not integrated DASH into their POS. Many people have become complacent with cards as a "good enough" position. And worse, it creates another middle man that resists the ultimate final step. This is not what crypto promised us, but we've compromised and become complacent due to the limitations of bitclones. DASH does not have those limitations. This step can be taken where others cannot.
Where do you stand on that?
