Author Topic: Bungeebones  (Read 446 times)

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Offline bungeebonesTopic starter

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Bungeebones
« on: June 13, 2017, 08:06:37 PM »
I've been a Bitcoin fanatic and entrepreneur for almost five years. I only recently started to pay attention to alt coins because of the scaling debate. I'm mostly focused on litecoin right now because of the way it was able to integrate Segregated Witness. That fact, together with its faster transaction times has me thinking Litecoin will be the currency of choice for businesses (which is where I'm headed).

I launched a web advertising platform that shares many of Steem's goals of providing content producers an ownership stake but am attempting to accomplish that without having to launch an alt coin (I see no need of it).
The ownership stake is derived from an earner being able to establish an earnings record verifiable by the blockchain and also being able to transfer the future earnings of that stream to a perspective buyer, an heir or any other assign. It is currently still denominated in Bitcoin (and only Bitcoin) but converting the pricing mechanism to a different coin would be trivial (so I may convert it to Litecoin).

The software I wrote has a number of features:
  • An exchange system where members can transfer their advertising credits (all backed 100% by crypto) to other members via a smart contract for whatever compensation the parties agree to themselves.
  • Members can also redeem their earnings for crypto and/or they can also use them to purchase advertising for their own website (at a discount)
  • A free, white hat multilevel commission system designed to pay web site operators crypto for helping build the advertising network. Building is accomplished when their advertising customers transition into ad publishers themselves.
  • The opportunity comes as a free Wordpress plugin (which means it can be installed on the 25% of Internet sites using Wordpress in under five minutes) or a PHP script (a little more involved)
  • The business is organized as a cooperative business trust with the web site operators being the cooperative's members, owners, and beneficiaries.
  • The fiduciary relation exists only between the advertising coop and a website operator that installs the software because that operator effectively invests their web site traffic in the cooperative. But when the web site operator acts as an advertiser the coop has no fiduciary relationship and pits them against other advertisers in a competitive bidding situation thus achieving the highest prices possible for the sellers.
  • A unique aspect of web sites, web advertising etc. is that a single website may be both a buyer and a seller of web traffic/advertising at the same time. The novelty of the business model is the blending of these two opposite interests into a Multi-Stakeholder Cooperative.
  • The competitive bidding arrangement is a proprietary bid-for-position system rather than a pay-per-click system as most ad networks use. It performs no tracking of the user yet it enables the advertising customer to easily determine the ad's effectiveness and with zero click fraud.
  • The use of the platform for reinvesting advertising earnings towards getting even more web traffic is strongly encouraged. Any user that re-spends their earnings generates yet another round of commissions.
  • There are two earning opportunities for a website operator - 1) They earn when their websites sells the network's advertising inventory and/or 2) They earn when one of their customers takes the added step of installing the script on their own website and makes sales themselves (in such a case the website where the earner registered at receives override commissions on the recruited site's sales).
  • Earnings/commissions/payments are settled daily. Payments are gleaned from buyers pre-paid accounts daily and transferred to earners daily. How much/how little a buyer chooses to maintain on deposit is mostly a matter of convenience along with perhaps some calculations of how earnings can offset expenses.