J.R.,

Good questions.

As for the reimbursement funds it would be nice to be reimbursed sooner than later.

As for Delaware it is the go to state for incorporation because of its business friendly laws, its low incorporation fees, its low annual franchise fee, (about $150 USD), and how quickly they turn around paperwork. The vast majority of the U.S. Fortune 500 are incorporated in Delaware (plus 95% of new incorporations are done) for these reasons. And as you can pick any state you want its the best choice hands down.

I paid an extra $85 to get the paperwork completed in 7 to 10 days instead of the normal 35 business days. I also signed us up for a Registered Agent in Delaware (about $150 per year).

I also filed for our Federal Tax ID number. I also filed for our Tax Exempt Status. I also signed us up for a Bank of America account for the Foundation when the incorporation is complete.

As for Treasurer, it only means what ever definition we assign to it. For the forms I had to fill out the officers of record, which can all be one person. I did myself as I had my address handy and of course we can update the President, Treasurer, and Secretary roles and what ever we want to assign to those roles by a simple Board vote when the docs come in.

Let me know if you have other questions, I've been through this about 10 times with incorporating different entities (mostly LLCs and C-Type corporations) over the years, though this is my first non-profit. The process proved exactly the same, with the addition of the Tax Exempt Application.

Talk with you soon.

Best Regards,

David A. Johnston
BitAngels.co



On Fri, Sep 20, 2013 at 3:42 PM, J.R. Willett wrote:

    Board: please be advised of David's proposed reimbursement of $1042 (see below) for incorporating the non-profit MasterCoin Foundation. If I don't hear any objections, I plan to pay this expense out of project funds the next time the Exodus Address makes a payment.

    David, do you want to get paid right away, or do you want to wait for the next payment to go out? I was going to ask Mich to wait until I paid out to the winners of the coding contest, but $1042 is a lot of money to leave hanging like that

    Also, I don't recall you saying - is there something special about incorporating in the state of Delaware? Any idea how long it will be until the paperwork is processed?

    Lastly, what does "treasurer" mean in this context? (Once we get m-of-n signing, aren't we all treasurers?)

    Thanks!

    ---------- Forwarded message ----------
    From: David Johnston
    Date: Fri, Sep 20, 2013 at 1:25 PM


    J.R.,

    I'm glad to get this all formalized and in place.

    The paperwork is now filed with Legal Zoom for our Delaware Incorporation of Mastercoin Foundation Inc.

    Filing as a Non-Profit cost a little more ($1,042) than normal because they have to do our Tax Exempt Status. But its still not bad normally a lawyer would cost $4,000 to $5,000 for the same service of doing the incorporation, getting the Federal Tax ID and filing for Tax Exempt status.

    Attached is the total. Please remit that total in BTC to this Coinbase address for the reimbursement.

    1AHXnT1eLRfBv7WZXcHNzomjETBFLrw3yx

    Thanks.

    David A. Johnston
    BitAngels.co

where is that thread? this is trippy

A while back there were other DDoS attacks on SD with some people demanding money. They subsided and were intermittent. This recent attack has been different. Much stronger, sustained, and no extortion messages. In any case, it's been overcome, and SD is up... and paying nowhere near "$20k per month" for hosting

Everybody knows that the DDos attacks have been from extortionists, they were asking for 100 BTCs from satoshidice and 1 btc from satoshi circle respectively.. why some of you are associating the attacks to a particular site, that makes no sense.. if betcoin.tm is online is simply by the fact they are paying for better cloud protection.

reposting hacked material that involves national security might piss someone off ...no?

WTF!!!!====> https://www.cryptsy.com/markets/view/62
 

thanks bud tho that's only the PPC(price per coin) chart~\//\~
====>ya what i'm looking for a historical chart that shows the demurrage coin-kill rate in relation to friedcoins' PPC! tia!

One important reason I'm not moving to an alt-chain is the distributed exchange between bitcoin and MasterCoin, which isn't possible if we are on an alt-chain, since it requires using data from standard bitcoin transactions AND MasterCoin transactions to work.

I don't think I've mentioned that reason anywhere else, but it is probably the primary reason I'm not even willing to consider it. There are other reasons, like total cost of development, and even the dirty stink of starting yet another alt chain (For instance, bitshares is doing it "right", but they were banished to the alt section with all those scam coins, which they of course bitterly resent).

I am totally convinced that building on top of bitcoin is the right way to go, for all the reasons here and above in Ron's posts.

Barrett Brown is being charged, essentially, with doing something everyone (including myself right now) does on the Internet: he posted a link.
The Brown case raises all kinds of issues around freedom of expression and information but, perhaps most importantly, it uncovers a deeper and more dangerous aspect of the Obama Administration's information policy. Brown's case illustrates that, in addition to targeting the use of the Internet for spreading information, it is targeting the very act of information distribution. That includes the work that journalists routinely do but it also includes the information sharing you and I do on the Internet almost as a reflex.
http://thiscantbehappening.net/print/1960

~so which one is the offical MST info thread?