Quote from: smooth on October 28, 2015, 10:49:43 PM

We know that mining can't be used here because CfB has stated that it undermines the security model.

Can someone link me to that and/or the relevant page of the white paper? Seems to be mining could be used to generate check points. That was one of tweaks I had in mind.

Quote from: smooth on October 28, 2015, 10:49:43 PM

If the idea is bootstrapping the distribution and not raising money, then spin off from an existing coin, preferably a widely used one. Multiple coins are even okay but make sure the weighting bears some sane relationship with fair market value (does not have to be exact).

But then I am responsible for how those shares were promoted as investment securities and I don't want to run afoul of the law against selling or offering for sale to the general public unregistered investment securities.

Quote from: smooth on October 28, 2015, 10:49:43 PM

If the idea is raising money while unambiguously complying with all the (perhaps mutually contradictory) laws in the world while at the same time using a structure that achieves a widespread distribution in practice, and is verifiably resistant to cheating, well good luck. I don't know how to do that either.

The only way I can see to do this is either make no promises as to the number of coins you as the seller will end up holding, or do unique buyer verification.

As for complying with laws, my current thinking is to sell the software with some tokens for use at set prices to end users (not investors) with a cap on the size of the sale and user verification (by name and payment account is sufficient), so that it is not a significant amount to be worthwhile for investment and profusely disclaim any expection of future gains. Selling software internationally has not been illegal. Selling shares to investors is very illegal if they are not registered with the SEC in the USA.

Any investors who want large size would have to buy in on the open market later. Typically prices sag after an ICO, but maybe with this strategy where no one can buy in large quantity at the ICO, would have a more positive effect, but again no one knows and expectations of gain can be profusely disclaimed.

Why not give the little guy (the actual users) a chance to get in and maximally spread the distribution? That creates a wider base of support. Mining is dominated by professionals and a small cross-section of the actual users of crypto.