Quote from: TPTB_need_war on January 10, 2016, 02:18:37 AM

Quote from: smooth on January 09, 2016, 11:49:13 PM

Quote from: TPTB_need_war on January 09, 2016, 11:16:47 PM

Quote from: ignitiondefect on January 09, 2016, 10:38:23 PM

Hopefully, we would be OK with regard to securities law if we premine 100% and distribute those coins to users of our app at no cost.

I think so if you can also get many other apps to use your coins and create a huge diverse ecosystem for these tokens (but I don't think you can do that without losing your focus on your app!), but consult your own attorney. Note smooth and others felt premine was culpable. I argued against that. None of us are lawyers.

I doubt distributing 100% at no cost is a problem.

How do you prove 100% was distributed not to yourself?

First of all, if you are talking about criminal culpability in a theoretical sense, you don't need to prove anything, the prosecution does. In a practical sense it might help to use KYC-type procedures, have low-barrier methods to receiving free coins without limiting that to only a portion of the distribution, keep good records, etc. Or maybe it is impossible, I don't know.

It certainly isn't the case that every ICO has to be of the form "hey anonymous ~~investors~~oh-sorry-I-meant-users, send your BTC to this address and we'll send you some coins, and remember this ~~investment~~token is not an investment".

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I think you should remove the "100%" and reconsider if that changes your stance since you were stating in my thread that a premine is culpable.

I was responding specifically to the OP's statement here about giving away 100% of the coins. If you don't give away the coins but instead sell them (or do anything else like pretend to give them away while actually keeping them or giving them to privileged affiliated parties) you are likely taking a bigger risk.