The use case I am thinking for this is an eventual corporation that does not need to follow all of the SEC BS for forming a company and the hundreds of thousands of dollars needed to become compliant. Allowing for investors and such but still being able to move forward.
Working for various seasteading companies we did not quite fit into the square box of incorporation that other companies can deal with. An international company, not really planning on doing anything in any nation with international investors and employees.

The part about someone stealing...I am assuming when they are hired they are hired based on their reputation. They can be anonymous with a good work history that is provable or they can be known. Mainly hired contractors from freelancer websites.

The CEO hiring someone over and over and firing them would also receive a bad reputation. The company would be known. And the first week tends to be not very productive anyway so the work they get out of someone would be very minimal, mostly a hassle of training or getting someone set up.

I think the multi-sig part comes in mainly when it gets more complicated with investors who are shareholders that have some sort of vote in the board and get dividends. That becomes super complicated but I'm wondering if it is plausible by having the above simple mechanisms in place just expanded tremendously. Same concept just on a Google sized level. Maybe each board member is part of a multi-sig wallet that hires the CEO and sets the incoming cash flow to go through him. Then they can fire the CEO and change that cash flow to someone else. I'm not sure how shareholders and investors would work.

I am trying to think of a way that a company could be set up so that no incorporation is required, any product sold gets filtered to the employees via mechanisms of multi-sig and time locks.

So a simple store with a store owner and a single employee would have owner A open a LN channel with employee B when the employee is hired. Employee B makes and sells a widget for bitcoins with a Bitcoin address that goes to A. A then pays B an agreed upon wage.

Simple enough. If B tries to sell the widget to a different address he is immediately fired. If A does not pay B then B just quits.

.        A
.         |
.         v
.          B

Add more.

A hires B to make widgets and C to sell them. Same thing. A pays B and C. C sells the widget for an address that goes to A.

.        A
.       | |
.       v v
.      B  C

All simple so far.

A hires D to manage B and C. A creates a LN channel with D. D creates a LN channel with B and C.

.        A
.         |
.        D
.       | |
.       v v
.       B C

At this point, D would need funds to open the channel with B and C right? Not sure how that part would work.

My other question comes to board members. Perhaps they control a multi-sig wallet that pays A who then pays various department heads (D), etc.

The idea of this whole thing is to make it all trustless and allow each individual in the company to be anonymous, including A. And have it be such that nobody in the chain can just walk away with all of the company's money (except those that own the company). Any fraud would be minimal (a week's pay, or a single product, etc.).

Yes, I know you can make ETH tokens or whichever. But nobody buys products in ETH. This would be a company that could be up and running and only accept bitcoin and be up and running without needing to incorporate, open a bank account, etc.

I think the "Cryptocurrencies pose a national security issue" should be noted here.

The very first article in Thailand that came out about me and the seastead was just a jumbled mess of quoting 3 different news stories about the seastead but they made sure to throw into a random sentence "threat to national security". It made no sense and was counter to the rest of the article but we knew at that point that it was the military telling them to add that in. We knew that they were setting the stage for how the narrative would play out.

Our initial response was to try to hit back with our own PR before the narrative was set but the next day a more bold article came out with a clear message of us being a "threat". That's when we bugged out.

Fortunately for Bitcoin it does not need to flee a crazed military bent on extortion. But I can see it as setting the stage for a narrative of crypto being dangerous and a threat to America (and thus, the world). Then cue the nationalists who will "save America" from this "threat" without even considering if the threat is real or not. They will follow the narrative due to their "love of country".

I've been playing Call of War for a while. I like it because it's a strategy game like Axis and Allies with several multi player games and you can check in a few times a day to update your strategy (you don't have to sit for hours playing to win). It does help to have more time to react more quickly to changes.

They take bitcoin for membership which provides a few perks but I have not had to spend money on it yet to win most games I play.

So I did a lot of reading into IPFS (Inter Planetary File System) and find it a non-starter.

It seems like a good idea, almost like Bittorrent for the entire Internet. You run the program, host files, people needing those files can retrieve them from those closest to them, etc.

But the key comes with the motivation to host files. I kept looking for the motivation and kept hitting the wall of "community" and "for the good of all" type of talk. Is this what's being taught to the millenials? Create a project. Tell people it's good for the community........success!

Bitcoin has an embedded motivator. Those that get involved early, get some bitcoins. The reward structure is built to encourage early adopters and then through that early adoption they are then incentivised to build and promote Bitcoin to make money. The miners who mine bitcoins are incentivised to run their miners in exchange for receiving money. There is motivation rewarded by money at every level.

If Bitcoin were started by Satoshi and there was no reward, just "hey gang, let's do it for the community because the Federal Reserve is bad" then it would just be a white paper with a github account of code.

Thanks.

Hmm, I see that there are apps that accept LN transactions...perhaps there is some seed of something there. Thank you, I will do some studying.

I think with this next run up I will dissolve any alt coin I have that has not produced what was initial promised when it was created.

I am quite disappointed by MaidSafe. I bought those in the initial offering...back in 2013. They have nothing.

Perhaps try to "time the market" and instead of selling bitcoins toward the top, sell all of my alts for fiat or Tethers. To buy back BTC during the 2 year dip back down to $60k.

Outside of that, I recall watching a presentation by one of the Bitcoin developers talking about a scripting language he created to run in Bitcoin. I did not have time to play around with it then and the guy did say he was going to scrap it all and start from scratch with something better. Does anyone have a link to that presentation or know what it's called?

Edit: My goal has been to try to create a Bitcoin company where nobody in the company needs to be known, but when a customer purchases a product from that company the funds are sent in the same way that a company works. It may go to the CEO, the treasurer (with some restrictions), shareholders, etc. with board members having a way of voting on new paths of revenue and being able to give/take away power from the CEO.

Probably something that can be done in ETH but screw those guys. This is Bitcoin.

I checked into RSK and that does not allow a customer to send bitcoins to the organization. They must first convert their BTC to RSK to then send.

If you have no bitcoins, you are essentially a huge fan of Trump.


Every Nocoiner: "Trump 2020. MAGA. No to Bitcoin"

I got an e-mail from whatever MtGox trustee with a bunch of legal BS. I kinda ignored it all before because it was "only" .04 BTC and it is highly likely that the value they would compensate me for would be at the fiat value back in 2013.

Who knows. I responded to the e-mail giving them consent to do whatever they explained in the e-mail. Maybe I'll get $40.



As for kidneys...

If you still have both kidneys and no bitcoins, you're doing life wrong.

So it looks like I may be getting my .04 BTC back from MtGox.

My retirement may continue.

I am glad to see these small corrections on the way up.

Once the price doubles in a month we are weeks away from the end of the bull run. It almost did that already going up from $7500 to $13,880. For the next week or so $16k would be the doubling.

The longer we avoid doubling in a month the longer the bull run. Let it grow slowly for the next year. Then double when we hit $100k and sit back and watch the fireworks.

Some memorable haikus I remember from my English class in high school when they taught us about haikus.

My friends:
If I was hot dog
then everyone would like me
I'd look like a dick

children in the snow
playing laughing having fun
joey is frozen

Mine, after my teacher told me haikus are usually about nature (I didn't really like my teacher):
nature is real dumb
so why is it always there
let's get rid of it


I submitted mine to some poem thing where other kids got to comment on it.
Needless to say, the comments were not too nice  
Most common response "I think you're dumb. We should get rid of you"

So my computer has some extra hard drive space, running Linux. Are there any cool blockchain projects that actually do some cool things (other than ICO and disappear) that I can play around with? I'm thinking like Maidsafe. But I just checked their site and they're in Alpha after over a decade of development.

I know most ICOs basically made a bunch of money up front and bought lambos and moved on. Any decent ones?

I'll likely install NMC just to browse some .bit websites. Maybe play around with IPFS.

Yep, it was back in 2010 or so. The guy who built the seastead went there to encourage them to integrate Bitcoin as their currency.

Of course, several people go there to try to influence them on many things. He said that there were people there from the Phillipines asking for fishing rights. In exchange they got the president(?) a brand new mercedes to drive around. On an island with about 5 miles of road. He said the guy there who is in charge of the FIFA vote has a lot of power as his one vote is equal to that of other powerful nations. He was there at the same time as congressman Alan Grayson but he did not know what he was there for.

As always, in these contests I post a price that I do not want so that the only consolation as I cry in my cheap beer is that I won a contest.

$4200

 


Fortunately for us all. I am always wrong. 

safe

Getting better. Nadia and I got married and we're moving on with our lives.

Using the term "gender" when referring to a human's sex has been traced back to the Victorian era when the term "sex" was taboo so using it in every day discussion was discouraged. Before that it was just used when referring to genders of words, etc.

So those that use the term "gender" now are following the lead of the sexually oppressive.