Sorry for your loss @dergigi

ha ha, we do appreciate all contributions to ~@econ! Thank you!

Although, "profitable" is not something I would call ~econ. We are flirting with break-even over the trailing couple months, but definitely in red since inception.

I'm overdue to update the accounting for the last couple months. Will post something soon.

Its my understanding that the gangs in Mexico have a code. A common code. In other countries, the criminals get promoted to "politicians" and "executives", and then the code changes for them.

No, donations covered part of the costs.

Give 'em away.

You know how some people, or phenomenon, are so popular, they can get away with just their first name? Or like, if you add the word "The", in front of the noun, it implies there is just one?

I want to declare this phenomena in this article, as "The Tragedy" - that slow boiling, that this article discusses. Make it so popular, that we can all just use the word non-ironically, to explain the expansion of the state at the cost of prosperity.

This post is the ultimate attestation to how the game is so pathetic and rigged.

There is a metaphorical equivalence to watching FIBA instead of, watching an actual NBA game, or just playing some basketball. Talented, smart people, are literally spending their time making tools to predict the rule-makers' next move, instead of just playing a game. We sit around wondering, "What's the angle?" on this one specific rule-maker-watcher, because it doesn't match the consensus coming from other rule-maker-watchers.

The tragedy would have been if the band didn't move on. I look forward to what they put out together.

Given 38K in donations for September, rent at 100K, and a 289 post forecast, the ~econ posting fee is (amazingly!) unchanged.

The next FOMC announcement will be around ~2024/10/08 13h00 UTC.

If you'd like to see lower posting fees for ~econ, please consider donating in the next monthly crowd funding.

Thank you sir! That's what I'm hoping for!

Don't sweat it.

Note to future self: @siggy47 donated 10K to the top-level post, not the comment.

No worries mate, thank you so much for the support!

Correction: @Undisciplined donated 25K last month, not @Undisiplined

Thank you good sir!

In August, we got very close to breaking even on a total-revenue+donation basis! Which means if donations are flat this month (ie >= ~38K), and there is just a tiny bit of growth, we might be close to a point where sustainability is in reach.

In line with the plan to achieve sustainability (break-even), donations will directly reduce the posting fee, such that donations + forecasted posting fees - monthly rent = 0. The "forecast" will just use the prior month's post-count for one more month. After September, we will introduce a dampening mechanism as discussed a month ago, to smooth out post-fee changes.

The next Fee Operation Management Committee will announce new posting fees according to the following schedule:

Note that I'm dropping the block-numbers, because I'm mixing them up with SN post #s.

Crowd Funded Contributions for August 2024 - thank-you! @Undisiplined - 25K @siggy47 - 5K @grayruby - 3K @anons - 5.2K Total Crowd Funding = 38.2K

56.7K according to the operational stats.

Forecasted Posts in August= 287 Actual Posts in August = 289 Forecasted Posts in September = 289 Surplus of 2 posts vs forecast.

Treasury was 41K at end of May. I'm holding off ratifying rules around treasury burn until I see signs of stability in modelling the future. We're still bleeding money, albeit less slowly now, and @jeff is plugging the holes.

These are unchanged.

All-Time 1.9m stacked \ 177.8k revenue \ 2.3m spent \ 2942 posts \ 14.5k comments ~ 4 weeks in March @ 10 sats-per-post: 215.7k stacked \ 19k revenue \ 247.3k spent \ 588 posts \ 1755 comments April (proper): 277.9k stacked \ 26.8k revenue \ 322k spent \ 605 posts \ 2303 comments ~4 weeks in April @ 21 sats-per-post: 203.9k stacked \ 24.6k revenue \ 239.3k spent \ 537 posts \ 2151 comments May (proper): 149.5k stacked \ 27.8k revenue \ 194.8k spent \ 380 posts \ 2095 comments ~4 weeks in May @ 100 sats-per-post: 105.3k stacked \ 26k revenue \ 144.6k spent \ 326 posts \ 1919 comments June (proper): 253.4k stacked \ 36.8k revenue \ 327.1k spent \ 331 posts \ 2297 comments ~4 weeks in June @ 136 sats-per-post: 260.4k stacked \ 35.5k revenue \ 332.4k spent \ 327 posts \ 2551 comments July (proper): 339.4k stacked \ 40.9k revenue \ 423.8k spent \ 287 posts \ 2662 comments ~4 weeks in July @ 187 sats-per-post: 307.8k stacked \ 39.2k revenue \ 389.6k spent \ 250 posts \ 2230 comments August (proper): 263.5k stacked \ 56.7k revenue \ 376.7k spent \ 289 posts \ 2905 comments ~4 weeks in August @ 215 sats-per-post 189.3k stacked \ 75.8k revenue \ 339.4k spent \ 246 posts \ 2273 comments

2024/08/11 - Increased the posting fee to 215 @ 644200

If this territory ever runs a cumulative net profit, I'll find a way to do right by the earliest contributors. There is no guarantee of that scenario. Most likely, it'll take the form of "pay-it-forward"-style BTC-adoption/effort/charity.

Do not donate with the expectation of receiving a share of future profits. This is not a security offering.

August 2024 637435 July 2024 601808 June 2024 566281 May 2024 526847 April 2024 493332 March 2024 448054

There was a material uptick in my own accounts income from referrals. I'm trying to figure out if that is tied to the territory or not. If anybody knows, it would be helpful to understand as it might impact my model.

What's the latest thinking on referral fees?

Specifically, are there referral fees associated with owning a territory?

I'm getting some random referral fees, but I can't differentiate between my content and if there are any coming from the territory. I'd like to understand better.

lol, hopefully this isn't a case of one bad apple spoiling the pie.

If I had to give a word to what I'd want to design, it would be pragmatic-libertarian. I'd want to setup a constitution with libertarian principles, except minimized and explicit whitelisted scope of the state, such that it would constrain the growth of the state both economically and socially. Any growth in scope would require some extremely high quorum. It would start out with just enough pragmatism, such that the bears don't move in. I'd want to sort out how to make a public-court that chose winners and losers based on responsibility, perhaps rather than precedence -- not sure yet. The bias would be towards defending property rights, not optimizing for 'fair'. The constitution would also have a call-back such that any law that was too long, broad, or complex would be void.

I think a thin tax layer as a base, like a flat per-person rate, plus maybe taxes on vices or taxes that are a form of pseudo-penalties for behaviors that trespass against the property of others. Example: You spill pollution in your neighbors' stream, the penalty is high for such an act, sufficient to compensate the neighbor and fund the state. Notice that property rights are defended, and responsibility is incentivized.

It wasn't always 2.5%