however, i am still feeling like mintcoin is always a step behind. looking too much at other coins... Well, Blackcoins is said to be "a clone of mintcoin". It doesn't seem to damage it much:) Second, a legally registered foundation is not that common. Definitely not a prime (think bitcoin), but still Finally, being the first is not enough (eGold and microcents were there before bitcoin, EDO-RAM was there before SDRAM). It does give an edge but just that: an edge.
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Yes please. I will monitor mintcointalk.com in priority.
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yes, for fiat currency. i know. but how about the mintcoin transactions. how to provide transparency on that. is it going to be transparent as the premine? also i am amazed by the reforestation thing. that is definately an area of another coin. Crypto are off-limit if sent as such (which doesn't impede publication, it is just not mandatory). But if cryptos are converted to fiat, it works. Granted, conversion comes with a loss of money (two losses, because I will not use MINT to USD exchange, but MINT to BTC to EUR since the Fund will be in the Eurozone), but it may also increase legitimacy. This is a work-in-progress, inputs welcomed (here http://www.mintcointalk.com/index.php?topic=400) Regarding reforesting being another coin's area: it is just a coincidence. We happen to have an interesting scheme here (someone working on this field and able to get a matching contribution). If it have been about helping organic agriculture in South America, it would have been the same.
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If it's registered with a public entity (any representative agency of government) it's public information. In the name of transparency I look forward to seeing a copy of the official application posted here for all to see. This will go a long way in showing people everything is on the up and up. Not necessarily. The French law for association loi 1901 (VERY common in France) doesn't require financial information to be public (same goes for private company, those which are not on the stock exchange) - the only public thing is the name, location and goal of the association. But this won't be an association (association is similar to charities in UK, don't know for US). This will be an endowment fund. And endowment fund ALWAYS have public accountancy. So, bottom line: acceptance2, you are right here
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ah and how are you going to provide transparency? are you going to open books? is the administration public? The French administration is as public as the US or Finnish administration. But I guess you mean: will actual movement of money be public? To this question, the answer is: the "general interest" status (which makes a Fund eligible for tax-deduction) requires financial transparency For the gory details, here's the law: http://www.legifrance.gouv.fr/affichTexteArticle.do;jsessionid=BB1390703E5A853F096A1039ECE78975.tpdjo04v_3?idArticle=LEGIARTI000019285221&cidTexte=LEGITEXT000019284897&dateTexte=20140322This part in particular: VI.-Le fonds de dotation établit chaque année des comptes qui comprennent au moins un bilan et un compte de résultat. Ces comptes sont publiés au plus tard dans un délai de six mois suivant l'expiration de l'exercice. Le fonds nomme au moins un commissaire aux comptes et un suppléant, choisis sur la liste mentionnée à l'article L. 822-1 du code de commerce, dès lors que le montant total de ses ressources dépasse 10 000 euros en fin d'exercice. In plain English: at least once an year, the fund must publish financial results. If there is more than 10.000€ of ressources at the end of the fiscal year, an external auditor must be mandated too. "if something goes wrong, the person held accountable can go to jail" if you loose say 10-100million mint you cant go to jail? since it is not a currency.. or commodity for that matter. If I do something illegal, like abusing peoples confidence in a harmful way (asking for fiat money is), then yes. Bad accountancy, abuse of power... may also bring me to jail. Much like any registered company everwhere in the world. Of course, if the Fund only get mintcoins, the problem is less important. Abuse of power would not lead to jail, but more to get a fine. Now, if EUR or other fiat are involved (for instance, mintcoin to euro), then going to jail is possible again (although unlikely; a fine is more probable). Needless to say, I will need support, people. I'm not talking of financial support, but moral support. This is quite a burden, even for experienced people, to run a registered organisation.
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what i mean to say is: corporations will donate directly to charities, without going over the mintcoin foundation( fund ). how are you going to change this? what is the unique value? trying to figure out if i should invest or not. Exactly like a startup tries to succeed in a crowded environment: find a way to be unique, like, for instance, actually donating money to a project. Example: the Northern California reforestation effort could get a matching contribution from the State ( tokyopotato for details). Small project, small but actual money. The community echoes this and look for other projets, whilst in the meantime our beloved dev continue getting merchant adoption.
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To be clear: 1 . The Fund is not registered yet. Monday, I will go to the administration and get it registered (it will take one month to take effect) 2. It will be registered as in "if something goes wrong, the person held accountable can go to jail". Guess who will be this person? That should give you an idea of my commitment. 3. The higher the mintcoin price, the less of the premine will have to be used (nah, the French administration won't accept mintcoins )
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why would these corporations not donate directly in fiat? the whole cryptocurrency thing is about not having to pay tax. only when the fund is converted back to fiat ( depends by whom ) taxes may/maynot be paid. depends on organisation structure. i cannot see why there would be a need to register this fund officially. can someone elaborate. They WILL be donated in FIAT, since cryptos have no legal value yet - at least, as long as corporations want tax-deductability. Internally, we'll receive fiat and convert it to mint. Hopefully this will drive up the price of mintcoin. Then a project will either be paid in mintcoin or in fiat (thus, a second conversion). We might propose a bonus for those projects willing to be paid in Mintcoin. Legally speaking, this will have to be investigated. For now, the primary reason for an official fund is legitimacy/visibility.
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One thing that may not be clear for everyone: we are talking about an officially sanctionned, legally-recognised Fund under the French jurisdiction (with all the tax-deductible thing also). Not a Facebook fan page or the like. If you want to read (or stress-test) the bylaws, follow the mintcointalk page link above.
This is good because it means individuals and corporations can save millions in taxes by being involved with the endowment fund for charity (legally). Exactly. But I am deeply aware this won't happen anytime soon. We'll need to have a history of successful project first (Northern California reforestation comes to my mind).
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any progress on that? We have one potentially interested. Being faithful to my own policy, I won't mention name before it is done. This is in regards to a multi-pool. Just in case the one in the works falls through, make sure and head over to Reddit to show your support. There are 4 separate threads mentioning the multi-pool, upvote and comment in each one if you support it. Making a Reddit account does not require giving them you email. Couldn't be easier. A lot of people use Reddit, It wouldn't hurt to have some migration headed that way. Subscribe and post here: http://www.reddit.com/r/MintCoin/ShibeonBarkmont is the one supposed to handle everything reddit-related (at least, this is what is on my file). ShibeonBarkmont, are you there? If someone else wishes to handle Reddit-related things, please tell me, I will update my list.
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I see a lot of members asking for more info on the POS Mining - I have coin more than 20 days in wallet and have not received any (wallet updated and unlocked) so as previously requested "add a help file and/or FAQ to the wallet to explain the "mining" of mint coin in easy to understand language (with pictures if possible)" I understand the necessity for this, but I don't have the motivation to do it myself. bjmillican4 and tokyopotato mentioned they are good at writing documentation. Also if the 20days can be reduced to 1 day - even if payouts are less will also help. This is dev thing, I can't answer. I believe the idea is to prevent short-term mentality (long-term mentality is a part of sustainable development).
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any progress on that? We have one potentially interested. Being faithful to my own policy, I won't mention name before it is done.
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mintcointalk or reddit thread is OK ... I am not much into reddit so I did not think about it. But yes, reddit shall be updated too. Who will be in charge of this? We need a CM for reddit. So far, we have these potential candidates (that's the whole CM team, save for chris who is devoted to mintcointalk.com since he created it): ShibeonBarkmont Jany8293 Sylon kopam greentea
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Don't tease me David. A little more info if you please?? Gimme somethin' to beleive in! I really like the idea of supporting green energy-Is that what the fund is about?
Everything is too vague. Please answer a couple questions:
1.What will the foundations funds be used for?
2.When can we expect a multi-pool?
I had a dream last night that mint was worth more than 100,000 satoshi, don't shatter my dreams man!
1. For various projects related to sustainable developments. The list of projects and the priorisations of action will be decided by the community. Final decision (from a shortlist) may be decided by an "inner core" (Board of Directors, or Working Board, legally speaking - this will depend on the amount of control we want to have upon this). I think we should enforce every project to be announced on one particular topic on mintcointalk (for easier referencing) but that's just a proposal. 2. See my PM. For other people reading this: the reason why I am secretive is that I don't like to announce things which may not happen. No other reasons. If announcing prematurely could help things to happen, I would happily announce them straight away.
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For those who wish to support the multi-pool. Hopefully the development team can get behind this and stop ignoring pleas from the community. I told you "wait for next week"
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One thing that may not be clear for everyone: we are talking about an officially sanctionned, legally-recognised Fund under the French jurisdiction (with all the tax-deductible thing also). Not a Facebook fan page or the like. If you want to read (or stress-test) the bylaws, follow the mintcointalk page link above.
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Will links to these new discussion topics in different venues be placed on this thread for user convenience? If someone does it. I won't, too much other things to do. But please feel free. A newsletter à la NXT could be another idea.
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a foundation? thats it? can you explain what makes this foundation different from other foundations?
sorry, i expected more. It is for mintcoin and devoted to sustainable development. Granted, Dogecoin foundation had a Doge4water initative, but that was just one initiative among others and Dogecoin doesn't have any environmentalism focus by itself (don't make me wrong, the Foundation will not be SOLELY about sustainable development - it will be its main focus, not the only one). Apart from that, we have some projects already going on. I will talk about some, whilst some other cannot be talked about yet. By the way, there is nothing wrong about stolen idea; for start because they are not stolen, since they are not protected; second, because the memetic world is all about imitaiton, as Voltaire famously said it 300 hundred years ago - the Not-Invented-Here syndromes makes more harm than good and what matters is not the innovation, it is the implementation.
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Alright (I am getting impatient, I decide after just three persons ) The main topic will be on mintcointalk but one of the first duty will be to keep some intersperced discussions on bitcointalk for getting some newcomers to know it (I will hardly be able to handle this, this will be a job for the commmunity management team). Here is the text I just wrote on mintcointalk.com. Since this is the first one, I will copy it in its entirety but please reply there in the future (that's topic #400, btw): Mintcoin Fund. Hi everyone, Project F is finally unveiled. I told you (and the dev told you also earlier) that it would be huge and it is. Much like bitcoin, litecoin and dogecoin, we are opening up a foundation. The Mintcoin Fund (for legal reason, it could not be named Foundation) will focus on promoting Mintcoin and sustainable development initiative. Excerpt from the bylaws (translated, the official text is in French) : The goal of Mintcoin Fund is to promote the Mintcoin cryptocurrency and its underlying goal of reducing humany environmental footprint. Legally speaking, this will be an endowment fund under the French Law. It will be open to anyone with no distinction of nationality or even age (although some responsabilites will be off-limit for non-emancipated minors). There is no entrance fee. Everything is open to consideration. Here are some of the topic already considered: - an official escrow service. It will deal only in mintcoin, and will either be free of charge or fees will be donated to the Mintcoin Fund (which in turn MIGHT compensate the
- Mintcoin Fund actually handling the escrow, but nothing for sure — if we can automate the process, we could avoid this).
This thread will be the main topic of discussion. Much like the ANN on bitcointalk, I believe a single very large topic draws more attention than several small topic (people judge by the amount of pages). It will be necessary to regularly update advancements on the bitcointalk page too, at least for getting more persons involved. Another brillant news (althoug less huge, I'd say) will be announced next week. Stay tuned!
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