[ANN][LSK] Lisk | Blockchain Application Platform for JavaScript Developers

[SanFrancisco]

any updates about current development regarding roadmap fulfilment?

- https://github.com/LiskHQ/lisk/milestone/2
- https://github.com/LiskHQ/lisk/commits/development

Nice overview. So, the community will forge soon.

[BigKush]

any updates about current development regarding roadmap fulfilment?

- https://github.com/LiskHQ/lisk/milestone/2

- https://github.com/LiskHQ/lisk/commits/development

Thank you very much for the links. Could you please be so kind and provide us with additional information about current status of gGmbh ? It will increase trust of the community if you will name its NAME, registration number, address, e.t.c. Thank you.

Also is there any plans to hire more developers? Oliver is doing a great job, but lets be honest, the speed of development is not the same as expected by investors (which of course reflected in the price).

[mikethedikevanegan]

A comment from LiskHQ on whether the GMBH is still happening or if they are going another route would be nice.  We have been chasing the dragon with this for far too long and it's looking obvious that it will never happen, so what's the plan?  We are taking a bath right now and there is a lack of information.  Seems more like time is trying to be bought.

[Poly#Crypto]

 
@ souljah1h

Your description of a GmbH is okay.

However Max & Oliver did not want to found a GmbH, they wanted to establish a gGmbH.
The formal requirements for a not-for-profit company are higher than for a normal GmbH. This results in much greater bureaucracy. This concerns the actual foundation and the later subsequent accounting. In addition, there are other significant differences.

[souljah1h]

@ souljah1h

Your description of a GmbH is okay.

However Max & Oliver did not want to found a GmbH, they wanted to establish a gGmbH.
The formal requirements for a not-for-profit company are higher than for a normal GmbH. This results in much greater bureaucracy. This concerns the actual foundation and the later subsequent accounting. In addition, there are other significant differences.

Oops.. My bad. Thanks for your message will remove my post.

[punkrock]

any updates about current development regarding roadmap fulfilment?

- https://github.com/LiskHQ/lisk/milestone/2

- https://github.com/LiskHQ/lisk/commits/development

Thank you very much for the links. Could you please be so kind and provide us with additional information about current status of Gmbh ? It will increase trust of the community if you will name its NAME, registration number, address, e.t.c. Thank you.

Also is there any plans to hire more developers? Oliver is doing a great job, but lets be honest, the speed of development is not the same as expected by investors (which of course reflected in the price).

What’s the gGmbH state of play? (LSK)

Joel: The Non-Profit is in progress. During the past couple of weeks, the German government has become quite an obstacle in terms of Lisk (the non-profit) complying with their regulations/requirements. This week we had a call with our lawyers in order to figure out what’s the best and fastest way to move forward. We believe we found a good, alternate solution and will reveal more details as soon as our lawyers give the okay.

Max: Following Joel’s answer we are currently investigating with our lawyers what we can announce in order to keep you updated. Unfortunately, with legal topics it’s always a hassle. With the next general community meeting we will have more topics to talk about.


Where are the talented new devs? It concerns me that finding suitable people is taking so long. Perhaps they are not that interested in Lisk. Is the Lisk brand inspiring, or is it I’ll defined? (LSK)

Joel: We have interviewed a couple of talented developers, but many of these developers have additional offers on more prestigious corporate companies. We are interviewing highly skilled candidates on a weekly basis. Finding a good fit takes some time, as the first few hires are critical to the company’s success.

Max: We are pushing harder on that topic because hiring turns out to be more time consuming and difficult than we imagined. Therefore, we are now conducting 3–4 interviews per week and are ramping up the salaries.

Source: https://blog.lisk.io/community-technical-meeting-october-14th-2016-caaff3f0c82c#.y70lfq38g

[Poly#Crypto]

@ souljah1h

Your description of a GmbH is okay.

However Max & Oliver did not want to found a GmbH, they wanted to establish a gGmbH.
The formal requirements for a not-for-profit company are higher than for a normal GmbH. This results in much greater bureaucracy. This concerns the actual foundation and the later subsequent accounting. In addition, there are other significant differences.

Oops.. My bad. Thanks for your message will remove my post.

No problem. And it is not necessary to delete your post, all informations are interesting. 

[punkrock]

Yes, don't delete it. It's quoted anyway, so...

[souljah1h]

Too late already deleted it lol.

[piebeyb]

just look from now for their future, how the popularity Lisk survive

[BigKush]

well...that's quite a sad portion of information for us. Cause being a lawyer myself, i've already established one company at Switzerland,Zug, one at UAE, and one at Iraqi Kurdistan during the period (that took not more than 2 months - including full legalization of documents for beneficiary owners and making an articles/charter from the scratch) when Max' lawyer is not able to establish a single one within couple of months...even with such high budget =(

[starmman]

well...that's quite a sad portion of information for us. Cause being a lawyer myself, i've already established one company at Switzerland,Zug, one at UAE, and one at Iraqi Kurdistan during the period (that took not more than 2 months - including full legalization of documents for beneficiary owners and making an articles/charter from the scratch) when Max' lawyer is not able to establish a single one within couple of months...even with such high budget =(

There must be tons of red tape to get around - I've heard setting up a company in Germany can be a tricky job if there are certain rules involved. Crypto + non-profit sounds like it could be a nightmare. Hopefully they will get around it. Must make it difficult to employ developers if there is no GmbH in place.

[iudica]

@BigKush: The point isn't establishing a company. But to proof to the German tax office, that the maintainment of a cryptocurrency is non-profit and because of this, it should tax-extempt, is a bit more difficult.

It is nothing "out-of-the-box". The Argumentation took some time.

[punkrock]

@BigKush: The point isn't establishing a company. But to proof to the German tax office, that the maintainment of a cryptocurrency is non-profit and because of this, it should tax-extempt, is a bit more difficult.

It is nothing "out-of-the-box". The Argumentation took some time.

In case that Lisk will have to pay the tax for all ICO donations:

- Would it be 19%?
- 19% of all donations converted into EURO with the value it had on the last ICO day? Or how would this be calculated?

[fezington]

@BigKush: The point isn't establishing a company. But to proof to the German tax office, that the maintainment of a cryptocurrency is non-profit and because of this, it should tax-extempt, is a bit more difficult.

It is nothing "out-of-the-box". The Argumentation took some time.

In case that Lisk will have to pay the tax for all ICO donations:

- Would it be 19%?
- 19% of all donations converted into EURO with the value it had on the last ICO day? Or how would this be calculated?

That would be interesting to know but you can be assured: wherever there are large sums laying around, the german government will take its share. With a gGmbH comes a massive tax reduction, that's why it's so complicated. Hope LSK will find another way to form their company.

[Bladiebla]

How is Waves doing it for example? Or ETH? They managed to keep the full amount?

[fuze0000]

How is Waves doing it for example? Or ETH? They managed to keep the full amount?

Great point!
Honestly is paying 19% in taxes really that bad?  I have owned a business for 4 years now. Just pay the taxes and move forward!  If you really believe in LISK then you will make the money back and  much more in profit in the long term. This coming November will be 6 months since LISK was launched.  Not paying taxes only to save development funds while everyone waits doesn't seem like it's working for the value of LSK. Just pay the taxes to the German government and provide a decent salary to the future employees so you don't continue to lose them to other job offers.

[BigKush]

If the point is to save on taxes, why the hell did your lawyer recommend you to open up a gGmbh in Germany? There are so many difficulties. Just open a company in Dubai in Free zone, you'll get 0% tax on capital gain, thin capitalization, no VAT,no stamp duty , simple pay 2000 AED per year and that's it! And you can do it within 2 weeks, including time to residence visa approval for the manager.

 

[tomkat]

@BigKush: The point isn't establishing a company. But to proof to the German tax office, that the maintainment of a cryptocurrency is non-profit and because of this, it should tax-extempt, is a bit more difficult.

It is nothing "out-of-the-box". The Argumentation took some time.

In case that Lisk will have to pay the tax for all ICO donations:

- Would it be 19%?
- 19% of all donations converted into EURO with the value it had on the last ICO day? Or how would this be calculated?

That would be interesting to know but you can be assured: wherever there are large sums laying around, the german government will take its share. With a gGmbH comes a massive tax reduction, that's why it's so complicated. Hope LSK will find another way to form their company.

If it's so complicated, then why the hell Lisk goes that way?
Just forget Germany and find easier solution, in other tax residence.

[SanFrancisco]

That would be interesting to know but you can be assured: wherever there are large sums laying around, the german government will take its share. With a gGmbH comes a massive tax reduction, that's why it's so complicated. Hope LSK will find another way to form their company.

As a gGmbH you won't have to pay corporate nor commercial tax if Google Translate is correct.