Why do coins and their founders start a foundation for the coin

[chris112]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

[shtako]

Because it sounds legit (and that is an advantage when they want to get rich).

[MicroGuy]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

These types of organizational bodies are helpful in protecting, overseeing, and propelling the evolution of the currency.

[chris112]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

These types of organizational bodies are helpful in protecting, overseeing, and propelling the evolution of the currency.

Good answer!  I am going to take this into consideration as I create a coin.

[MsCollec]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

These types of organizational bodies are helpful in protecting, overseeing, and propelling the evolution of the currency.

Good answer!  I am going to take this into consideration as I create a coin.

Consider doing IPO too for your premine!

[iampingu]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

These types of organizational bodies are helpful in protecting, overseeing, and propelling the evolution of the currency.

Good answer!  I am going to take this into consideration as I create a coin.

Consider doing IPO too for your premine!

And a free giveaway to get listed on cryptsy to dump it!

[jubalix]

PeerCoin has not yet....sort in keeping with its whole outlook, the discussion in the PeerCoin forum is interesting/good. Firstly very collegial, not into flames etc, secondly he foundation has been discussed but so far seen as not in line with PeerCoin, and open source.

Even the originator Sunny King refuses all donations or any fund raising for him. This does not stop you creating a foundation, but they are the opposite of many other coins that go for fundraisers, IPO's etc.

[cryptopaths]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

These types of organizational bodies are helpful in protecting, overseeing, and propelling the evolution of the currency.

Good answer!  I am going to take this into consideration as I create a coin.

Consider doing IPO too for your premine!

And a free giveaway to get listed on cryptsy to dump it!

LOL it's funny how this is basically a guideline for cryptocurrencies and most actually go down this path. scamcoin after scamcoin

[defaced]

formalities

[chris112]

formalities

Yes, many formalities.  I do plan on giving away coins (bounties giveaways etc.).  I cant say what coin it is yet, but it will be an entirely different idea than anything that is out there.  As soon as I make the post... I believe it will gain media attention and hopefully the attention of the bitcoin/alt coin community.  It's definitely a different concept and business plan than what is out there. 

I expect a new exchange would need to be created for it.

Thank you guys for posting.

[kelsey]

Hello.  What are your thoughts and reasoning why there is a creation of a foundation for the coin?

because most dev's lack imagination and have to copy bitcoin 110%

[Zzzack]

Its the only way to centralize a collection of funds for infrastructure. I advise looking at different foundations to copy them: http://www.quarkfoundation.cc/projects/