Case For A Community Funded Litecoin Developers Fund.

Case For A Community Funded Litecoin Developers Fund.

Millions of people around the world are interested in Litecoin. The LTC reddit has 200,000 followers, and Charlie Lee has 800,000 followers. I think its safe to say, globally, there are a few thousand of us fringe true believers in LTC and want to see exciting things built around the LTC ecosystem.

So far LTC foundation has done an almost impossible job at bringing LTC to billion$ in market cap, with only their own personal funds. Imagine what they could do with if they had more community support. I give these guys lots of credit for never once asking for community funding. That in itself is a testament of their moral integrity.

How many crypto projects can you find where the founders haven’t asked their community for money?

I believe now that Litecoin has gotten to billions in market cap, it might be the right time for core group of us as in the community — the true believers — to step up and begin supporting Litecoin foundation on a consistent and monthly basis.

Many of us Litecoin true fans can afford a $5–$10 monthly contribution to a dev fund. I’m not sure about creating an automated system, so the best thing I can think of is all of us in good faith choose a day of the month to donate $5 or $10.

I also ask that Litecoin Moderators on reddit allow a pinned post at the top of the reddit with a LTC foundation public address to send donations. Donations can easily be sent with Coinbase or whatever on-ramp we use to buy LTC.

If we can try to get to at least 2,000 monthly LTC foundation sponsors, this would generate $10,000–$20,000 to a dev fund, and it will greatly strengthen LTC development and attract developers who not only can build cool stuff, but ARE ALSO LTC believers themselves.

Getting Litecoin-interested developers is a really important part of this plan, because recently at Monero Konference, Fluffypony said it was difficult keeping non-Monero believing developers to follow through with their projects if they weren’t actually interested in Monero. They were random work-for-hire developers who didn’t care about the outcome. Development became more efficient when they implemented a community fund in which monero-believing developers could pitch their ideas to the monero community.

Something similar can be done for Litecoin and managed by the Litecoin foundation. It doesn’t have to be as elaborate as Monero’s, it just needs to get the ball rolling.

Published at Mon, 29 Jul 2019 03:11:29 +0000

Bitcoin Pic Of The Moment
The Venice of the East Bay.
By rezendi on 2015-01-23 14:42:04