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Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Rules/Board Q: Ether Based Bounty Program?
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on: February 05, 2018, 05:04:11 PM
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Thanks for the response. The trick is, yes, I want to offer my legal services. Each bounty would earn x amount ETH + 2x in a simple Waves based token. Each Waves token would act as a $1 credit for my services (service/price list to be published). I will offer a 50 token airdrop to begin. Incorporating the Waves token is really just a medium of account, not an actual offering. Conceptually I want to do this because I believe the social media marketing would likely be more beneficial coming from members of this forum. Moreover, paying Eth plus giving people an effective "credit" for my services using the Waves token offsets costs and acts like a barter token. Being an attorney, the penalties for not engaging in fair business practices can be somewhat steep, so no ponzi here. Moreover, it is not as if I am hiding my identity on this forum or in the "bounty" i want to structure. Any insight would be appreciated.
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Bitcoin / Legal / Re: ICOs asking for passport...is it safe?
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on: February 03, 2018, 09:47:41 PM
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I advise most of my ICO clients that AML - and its subset KYC, and its subset CIP requires certain qualitative and and at least one third party verification of that qualitative information. Passports tend to be more reliable than driver's license/ID.
So, i would contend that it is not unusual or improper to ask. Could it in theory be used in a fraudulent manner, of course - but every time you use a debit card you are also opening yourself up to some sort of fraud
AT
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Bitcoin / Legal / Reverse Mergers for Blockchain Ventures?
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on: January 16, 2018, 07:30:43 PM
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Reverse mergers and blockchain/cryptocurrency ventures .. The SEC, FINRA and OTC Markets have been started to look into public companies purporting to be going into blockchain ventures. The question i am fielding is whether viable blockchain/crypto companies have a financial argument for becoming publicly traded given the extra cost and regulatory burden? More here: https://youtu.be/-AaZDUzCyZkIf you have questions regarding public shell companies or public & crypto compliance/law matters, feel free to dm me Cheers
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Economy / Service Announcements / Re: I need to add my coin to exchangers
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on: January 16, 2018, 01:58:59 PM
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Another thing to consider
if you were to start your own exchange and solicit/accept US residents, you have to acquire a money transmitter-type license in the 48 states that require a license
Having gone through that process for clients in starting up exchanges, the total hard cost between application fees and bonding requirements is approximately $75,000-85,000 before legal/accounting costs. I've seen development costs as low as $50,000 for people who know what they are doing
Thus, starting you own exchange can be a $150,000 endeavor. Compare that to the listing fees and perhaps its not so high? I dont know, judgment call..
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