Hi @Cryptojoe ,
Great questions, thank you for keeping the conversation going. Here are my responses
1) Regarding hours
The only honest thing I can tell you with regards to cost estimate is that it’s too chaotic to tell. https://ask.slashdot.org/story/17/04/26/2040212/ask-slashdot-are-accurate-software-development-time-predictions-a-myth
I could, for example, provide granular hours estimates which will invariably be questioned. What then? We could adjust the delegation of hours to satisfy specific grievances, but at the end of the day, it’s just another estimate that is little more than a guess. If that’s what the community wants, then I guess we can go down that route, but I see it as a futile exercise.
I believe the whitepaper explains the architecture sufficiently such that anyone with an understanding of the Secret network can have a general opinion on the level of effort required. Is this an incorrect assumption?
2) Regarding price
If we took this project to any large organization, the proposed cost would be at least $1M - for a prototype only. My goal is to build the product for half that price which already bakes in a lot of hope that SCRT will increase significantly in value. I would be much more confident with 1M SCRT and thrilled with 2M SCRT. That level of funding does a lot to overcome the risks of price uncertainty and volatility.
What is the correct price target anyway?
Prices are lower, yes. ENG is half of what it was valued at in February but that was based on a completely different tech stack. A lot has changed since then. While we all want the same thing for ENG (and presumably SCRT), we cannot know the value of a coin months or even weeks away.
What is backing your claim that SCRT will likely hit $1.00?
The last time we saw ENG at a dollar was two years ago, coming off an insane high from the previous bull run. If (cross your fingers) SCRT spikes to $10 then you certainly won’t see a second proposal, you’ll see a completed product. If SCRT dropped to ENG prices mere weeks ago ($0.08) then, unfortunately, there will be another zero behind the next proposal.
3) Regarding personal profit
Is it not enough to claim community growth and attention as a driving force? I believe the offer that I’m bringing to the community is transparent, both in what I’m proposing to build and the expected return to the community.
If you are asking for my future business model, I can not speak to the specifics of that because I simply don’t know. The goal for the future is first to develop a user base and then identify avenues for profit, sticking to options that maintain the ideals of the company, which are security and privacy.
4) Regarding conflicts of interest
This is a for-profit venture. That is the only thing I can think of which might be considered a conflict of interest. However, the clear fact that this is a mutually beneficial project and the commitment to open-source code should make that a non-issue. I think there is room for everyone to win here.