[okfn-discuss] New crowdfunding system in the works exclusively for Free/Libre/Open resources

[Aaron Wolf]

Hi Thomas,

Thanks for the interest.

I'm actually not sure the best way to describe our concept in fewest words,
but it isn't actually exponential, more like quadratic. The growth is more
linear in that donors later down the line don't have a bigger impact than
the initial ones, i.e. it isn't actually exponential.
But the concept is similar. We *want* the support to grow, much like how
auction values can grow beyond what people initially bid after they see
others bid more, but in our case everyone chips in, they are just more
willing to do so as they see that others are doing the same.

So, to answer your question: there is NO maximum truly. But there IS
control. Donors will fund an account which they control still, and so we
cannot take more money from donors than the amount they put into their
account. But we do want there to be some pressure to add to the account and
not fall through on their pledge. We have ideas about optional ways to
split or reduce donations when the amounts get higher, but that is a
wonderful problem to have.

I would love to get more feedback or involvement from you after you've
looked over our proposals.
Here's an invite code for you:
*http://snowdrift.coop/invitation/9514777464dbaecb*

Cheers!

--
Aaron Wolf
wolftune.com


On Fri, Dec 7, 2012 at 5:18 PM, Thomas Kluyver <thomas.kluyver at cantab.net>wrote:

> Hi Aaron,
>
> This sounds really interesting, I look forward to seeing the results.
>
>
> On 7 December 2012 20:46, Aaron Wolf <wolftune at gmail.com> wrote:
>
>> 3. We have designed a novel mechanism to address the problems with
>> encouraging as many people as possible to join the community. A simplistic
>> explanation is: each pledge starts near zero and increases only when more
>> people pledge as well. Essentially, each donation is contingent on everyone
>> else donating; like matching funds but achieved geometrically across
>> everyone in the system, growing further with each new donor.
>
>
> Just to check, I assume there will be a way for individual donors to cap
> their donation? This sort of exponential increase sounds a bit scary from a
> donor point of view.
>
> Best wishes,
> Thomas
>
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