I believe that whoever becomes the treasurer will need to have his ID verified as a bare neccesity to establish (additional) trust.
Yes, of course. The treasurer will be required to become an employee and/or agent of TrumpCoin, LLC. This will require identification, NDA, a background and credit check before being allowed to access any company accounts, crypto or fiat.
Does that also imply that the treasurer will need to be a US citizen? I was assuming he/she would need to be, but I'm not quite sure.
Yes. I can only hire U.S. nationals and the FEC requires that all members of a Super PAC organization be U.S. nationals.
EDIT: Temporary residence inside the U.S. territories and a green card qualify a person as a U.S. national.
I think the treasurer should be. (No specific order)
1. Third party legally bound to a contract (Lawyer)
2. Celebrity with much more to lose from scandal (Dude that was going to be on AJ? Doesn't have to be a giant celeb...)
3. Contact whoever handled the ICO funds for other recent coins (I think Rise did some type of escrow through coinbase)
It will be too easy for people to blow holes in our story if its internal. Even multi sig is fishy.
If nothing else I'd rather just have Signal hold them. If he does anything weird at this point the coins over with regardless.
ok so maybe I should clear up some facts about what we can and cannot do legally.
Let's start with the can nots:
1. We cannot contribute more than $2700 from a single entity directly to Donald Trump's official campaign.
2. If we register as a Super PAC, we can NOT...
a. contribute even one penny directly to him or his official campaign.
b. communicate with him in any way, shape or form during the elections.
c. expect any endorsements or acknowledgements from him during the elections.
Things we CAN do:
1. Encourage anyone not directly affiliated with the Super PAC to donate up to the $2700 maximum to Donald Trump's official campaign.
2. Combine our talents, resources, and finances to indirectly support Donald Trump for President with media and grassroots campaign efforts.
3. Solicit unlimited donations to our PAC in order to help us towards our goals.
4. Buy commercials, billboards, and advertising of any kind to promote Trump for President and/or the TrumpCoin initiatives.
Why are these points important?
Because folks seem to believe that we are going to be allowed to pump the coin value up to around $5 and just give Trump a million bucks.
No. That's illegal. He cannot accept it.
I do not feel like it is sensible for a prominent public person to just sit on the funds for us (they will be constantly having to manage and document movements). I do not feel like it is sensible to lock the fund into any escrow or other long term commitment. I feel like the fund should be handled by an internal official treasury like any other PAC with publicly available ledgers and accountability and put to good use to help fund our agenda(s). yes, I am drafting a plan.
All that said, we have yet to decide definitively the true scope of our official agenda, which should be our very next step after establishing some sort of organized leadership.
Once we have more thoroughly discussed the pros and cons of Super PAC vs. donation fund, we will be able to finally commit to a direction and make a responsible decision as to how the fund should be stored, used, protected, etc.
I was hoping someone would make this clear for those who don't quite understand how the SuperPAC system works.
Before anyone gets ahead of themselves with the notion that SuperPAC restrictions now limit the potential and reach of the coin you should probably read this:
Not only can SuperPACs still garner massive media attention (probably far more so than if we stayed as an collated donation thing which we legally can't) but the candidates are only barred from co-ordinating with the operations and expenditure PAC, not from mentioning, complimenting (however indirectly) or addressing questions regarding the efforts of the organisation. If you wanted a legitimate vehicle for even a passing Trump nod (which is an ambitious but attainable prospect) this is likely it. The media is our friend here and if they open the dialogue (and a decentralised crypto-currency SuperPAC certainly could) there's no reason we can't be discussed to some degree.
There's also a litany of options to directly sidestep the communications barriers between candidates and PACs bearing their names for example:
"The use of Conservative, Authentic, Responsive Leadership for You and for America as not to violate the rule baring an independent group from using a candidates name in their own. The super PAC opts for an acronym on its signs and other campaign materials: CARLY for America. Were sure thats just to save on printing costs." (in reference to Carly Fiorina's SuperPAC).
By utilising an acronym to make effectively the same statement the rule is worked around completely legitimately and with enough deniability as not to harm Trump's credibility or campaign.
Just addressing anyone's concerns that a SuperPAC somehow erodes the purpose or potential of the Trump Fund concept.