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mcjavar (OP)
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February 11, 2014, 05:32:35 PM
Last edit: February 11, 2014, 05:46:54 PM by mcjavar |
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Nxt :: Asset Exchange is currently getting tested on the TestNet.
I´ve created this thread to discuss how the Nxt :: Asset Exchane functionality could be used legally.
As you may already know, the Nxt :: Asset Exchange can be used to fund your project, get additional funds for your company to expand, do great things, or whatever you need money for. Now the problem is, that it is not clearly regulated how these type of investments have to be handled in you bookkeeping.
The process is the following:
1, You create an asset using Nxt :: Asset Exchange (it will cost you 1000 Nxt)
2, The shares you´ve created can be bought by people you convince to invest in your idea/company. They might expect some weekly/monthly dividends for their investment.
3, You get Nxt for the shares you´ve sold
4, You can trade the Nxt to BTC and/or to USD/EUR
5, And now comes the hard part. How to use the money legally?
Does anyone already have some experience doing crowdfunding? How is it different to using Asset Exchange.
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mcjavar (OP)
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February 11, 2014, 05:53:09 PM |
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Could buying gold or silver for BTC and then trade it for cash be a way to go the first step? What do you think?
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mcjavar (OP)
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February 11, 2014, 06:21:33 PM |
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That is the first step. As then we have the problem that we will sit on a bunch of "illegal" silver or gold. That is still not legal money. What would be step 2? |
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Come-from-Beyond
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February 11, 2014, 06:31:58 PM |
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I´ve created this thread to discuss how the Nxt :: Asset Exchane functionality could be used legally.
Should be "I´ve created this thread to discuss how the Nxt :: Asset Exchane functionality could be used legally." or "I´ve created this thread to discuss how the Nxt :: Asset Exchane functionality could be used illegally." |
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msin
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February 11, 2014, 06:34:58 PM |
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That is the first step. As then we have the problem that we will sit on a bunch of "illegal" silver or gold. That is still not legal money. What would be step 2? It would be nearly impossible to make the exchange legal in every country but trading for silver/gold would be the best bet as they are a world commodity and easily convertible in each country. Unless we had a Nxt Belize bank where everyone could access their accounts. Legality and Crypto exist on very blurred lines. |
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gobpaul
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Invest & Earn: https://cloudthink.io
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February 11, 2014, 06:36:40 PM |
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It will be revolutionary.
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mcjavar (OP)
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February 11, 2014, 06:45:25 PM |
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That is the first step. As then we have the problem that we will sit on a bunch of "illegal" silver or gold. That is still not legal money. What would be step 2? It would be nearly impossible to make the exchange legal in every country but trading for silver/gold would be the best bet as they are a world commodity and easily convertible in each country. Unless we had a Nxt Belize bank where everyone could access their accounts. Legality and Crypto exist on very blurred lines. I am thinking about exactly that. Opening an account in Belize, Panama or the Cayman Islands. But I am unexperienced with stuff like this. |
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msin
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February 11, 2014, 06:50:14 PM |
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That is the first step. As then we have the problem that we will sit on a bunch of "illegal" silver or gold. That is still not legal money. What would be step 2? It would be nearly impossible to make the exchange legal in every country but trading for silver/gold would be the best bet as they are a world commodity and easily convertible in each country. Unless we had a Nxt Belize bank where everyone could access their accounts. Legality and Crypto exist on very blurred lines. I am thinking about exactly that. Opening an account in Belize, Panama or the Cayman Islands. But I am unexperienced with stuff like this. So am I, but if we had someone take care of it so that people could have individual accounts, access, even debit cards, that could be huge. I'm sure we could offer a large bounty for the solution. Would solve our Nxt/USD problem. |
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mcjavar (OP)
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February 11, 2014, 07:01:32 PM |
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That is the first step. As then we have the problem that we will sit on a bunch of "illegal" silver or gold. That is still not legal money. What would be step 2? It would be nearly impossible to make the exchange legal in every country but trading for silver/gold would be the best bet as they are a world commodity and easily convertible in each country. Unless we had a Nxt Belize bank where everyone could access their accounts. Legality and Crypto exist on very blurred lines. I am thinking about exactly that. Opening an account in Belize, Panama or the Cayman Islands. But I am unexperienced with stuff like this. So am I, but if we had someone take care of it so that people could have individual accounts, access, even debit cards, that could be huge. I'm sure we could offer a large bounty for the solution. Would solve our Nxt/USD problem. I am afraid, that without a help of a skilled financial lawyer (knowing a lot about offshore stuff) we can´t get to the next level. |
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mcjavar (OP)
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February 11, 2014, 10:36:12 PM |
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Thank you. I will get in touch with them (or a similar company) |
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msin
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February 11, 2014, 11:27:15 PM |
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Thank you. I will get in touch with them (or a similar company) Let us know what you find out. |
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brooklynbtc
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AKA jefdiesel
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February 12, 2014, 02:22:33 PM |
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Thank you. I will get in touch with them (or a similar company) No problem!  Although there is a level of anonymity regardless of who the owner of the International Belize Company (IBC) is... I suggest you establish a Belize Trust first and then have the Trust be the owner of the IBC. Discuss the differences with people offering said services and they will guide you through it; I am referring to the steps I had posted in another thread. sfm-offshore might already be doing it this way... but I am not sure. i'm down with trips to Belize for "business" |
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