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RE: Round One Share Sales Status - Open!
Hi, this is a very innovative idea. So the only profit/benefit to those running Minnow builder is the 10% transaction fee right? Hard to argue with that, thanks for putting the time it takes into it.
The actual transaction fees for selling shares is one way and one we don't see being collected very often. If the idea of votes is solid today unless you are closing your steemit account it will be even more solid down the road as the accounts grow in value.
As shares are sold there are 10% of the shares assigned for "management shares" which we do with as we see fit. Most of those votes are going towards @pifc and even other @minnowbuilder accounts to help grow the entire network. None are currently assigned to anyone running the Minnowbuilder accounts.
Down the road I'm sure we will take some of the management shares, but don't see that happening for a while. Andrew and I are both more interested in getting this up and running then focusing on profits.
Now when I run into VP reaching close to 100% there have been a few self votes given, but this is purely while in Beta and sorting this all out. We don't have a full load of Redfish yet and that creates extra VP each day. Most of the time it's used on shareholders who give the account upvotes and who own the most shares...which also happens to be Andrew and myself. Work really hard to make sure we are not taking more then we should.
As most people don't post daily we will likely have some factor built into everyone getting a larger vote then their percentage owned, but for now this is a little up in the air and the rewards are going to our biggest supporters. Most importantly those who autovote the posts which will add real long term growth to the accounts.
Hope that all makes sense. Try to keep as much disclosure as possible and down the road once we can automate more of the processes it will be 100% transparent.
That makes sense, thanks for the explanation. :-)