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Ask HN: Who is willing to work for coin?
To be clear this would be a new coin offering for use on an existing/launching platform.
I am curious if there is a broad appetite for this type of risk and compensation. For a variety of reasons I can see how it may be more appealing than equity. On the other hand, there is limited data over a limited amount of time on how coin compares to equity and a number of unknowns.
I am really interested in getting opinions of engineers and developers, but I'd like to hear from administrators, operations, finance and marketing professionals as well.
If you respond please identify as much as you can about your yourself to best understand your perspective(i.e., financial situation - favorable/student/struggling/etc, your position or area of expertise, and anything else you think is relevant).
This is something I am considering. If you are interested you can contact me directly at endswapper at endswapper dot com. The stack is serverless, AWS Lambda and services. Right now, the emphasis is on a CTO, artificial intelligence, machine learning, cryptocurreny and internationalization.
I hope everyone gains some insight from the responses.
Thanks for your input!!!
- africasiaeuro 9y agoHi, Would love to hear you - africasiaeuro admin
- maxice 9y agoGood luck
- mtmail 9y agoI'm bookmarking this post as warning how delusional startup founders can be.
- nickthemagicman 9y agoVery ambitious too! Right now, the emphasis is on a CTO, artificial intelligence, machine learning, cryptocurreny and internationalization.
- iDemonix 9y agoPay peanuts, get monkeys.
- endswapper 9y agoI am not proposing peanuts, but rather a significant sum. The advantage of coin in lieu of equity, at least in this context, is that the participants I am seeking input from could/would be fully cashed out much sooner than in a typical equity stake. Additionally, the point of asking the question was to initiate a conversation with people that consider this an option for themselves. It really comes down to the success of the ICO event. So, good work could be rewarded handsomely on a very short timeline. Of course, this is not without risk, and the reason I am seeking input.
- blueadept111 9y agoCan these coins be exchanged for good and services? The answer to this question is the same as the answer to your question.
- itamarst 9y agoDunno about coin, but I'd be happy to work for Pogs or Beanie Babies.
- deleted 9y ago[deleted]
- jaclaz 9y agoUsually "risk" is something that can be determined mathematically (think of probabilities) or however measurable and - even when not measurable with a given degree of approximation - it can be usually roughly estimated. What you seem to propose is more like an act of faith in the unknown.
- endswapper 9y agoPlease pardon any confusion on this point. What I am considering (I'm not really proposing anything) is offering a guaranteed amount of coin for working for a short period of time (3-6 months) leading up to an ICO. After the ICO the company would buy back all or a portion of the coin at the final ICO price. Beyond that the coin could be exchanged (ultimately for cash) on open exchanges. From my perspective the work could be done remotely, full-time, part-time, on the side, essentially whatever you like. This will likely vary depending on the role and the work being done. As would the amount of coin.
- deleted 9y ago[deleted]
- jaclaz 9y ago>What I am considering (I'm not really proposing anything) is offering a guaranteed amount of coin for working for a short period of time (3-6 months) leading up to an ICO. After the ICO the company would buy back all or a portion of the coin at the final ICO price. Beyond that the coin could be exchanged (ultimately for cash) on open exchanges. I got that, but let me rewrite that as I understand it: "I am considering to offer an UNKNOWN amount of a NON-EXISTING good, with an UNKNOWN current unit value (be the value expressed in US$, tons of peanuts or pounds of manganese, these units or measure are all acceptable) that will (hopefully) in 3-6 month time start to exist and have an UNKNOWN value (presumably higher than the UNKNOWN initial value, being moltiplied by an UNKNOW appreciation factor, but that could as well be subject to an UNKNOWN depreciation) and (maybe) this newly valued good will be accepted by one or more UNKNOWN "open exchanges" where it may be traded in exchange for other goods (typically money, i.e. US$) at an UNKNOWN rate with UNKNOWN trading charges." It's not even a double or nothing bet, as there is no base value of the initial bet. As a side note, I can offer you 2,000 spiffletrinks for 20% of the company, if you are interested, but if you prefer fransghetmefs, we could talk, as I could go up to 8,000 of them for the same 20%.
- RickS 9y agoMy cynical hope is that this is a troll whose endgame is to point out that this is a re-worded approach to startup options. "It's worth cents now, so we'll give you a bunch of it, and then you code, and thats what gives it value!"
- bdibs 9y agoI prefer Trident Layers, sorry.
- deleted 9y ago[deleted]
- quickthrower 9y agoIs the coin decentralized? If so no thanks I'll mine it. Otherwise no thanks I don't trust it.
- quickthrower 9y agoThis might be appealing as a JV between a small number of people who are already experts in cryptocurrencies, probably already millionaires from BTC, putting together a new coin that solves a unsolved problem but all founders on a equal footing.
- jklein11 9y agoWould compensation include cash as well as the coin or only the coin?
- Throwaway03485 9y agoI prefer to be paid in Schrute Bucks or Stanley Nickles, thanks.
- olivierduval 9y agoSo many buzzwords... I sure can work for buzzwords!! :-D