I am having a little bit of a hard time understanding exactly what will be done with this coin.
It sounds like you want this coin to be a type of "stock" that your investor will invest into. With the terms set that you are buying it back over time from them? So a company stock buyback program? But it sounds like your employer wants to do it this way because it will be cheaper or something.
Not many people know what cryptocurrency is and it sounds like you are asking for trouble with this. If you do not want other people getting these coins why would you list it on an exchange?
What are the legal problems with doing this?it sounds exactly like an IPO only you are going to clone another coin and call that a coin instead of calling it a stock
It all sounds very shady and there wwould be no consumer protections in place. ICOs are always a scam and lose tons of money, ICOs around here are a swear word. Almost none of them make money.
I would really advise against doing this.
Hi,
It is for proof of ownership and we don't want launch an ICO to the public because the investors is already within our network and we would like to payback them in terms of coins which is of value as we will be buying the coin using BTC or ETH. Public are free to speculate on it but we will be buying back the coin we make from the investment through buying back the coin using BTC or ETH.
We are a registered company and its not an scam ICO or what as
we are not drawing money from the public other than the network we are linked with within our company current operation.
We are thinking to set a cap on the initial supply and then distribute it out to our investors (already inside our network and we are paying them monthly with horrible exchange rate & commission), swapping this with coin, we would pay out by BTC or ETH of course we need fork out this coin, and give to our investor free to count their worth in the company.
The payout will be weekly/ for-nightly and we will be buying our own coin that we issues out.
What we need is to
1) Create a wallet for each investor (we got over 1000 investors currently)
2) Put coin into their wallet (Hope to achieve this through CLI command)
3) They are able to sell this coin in exchange we are listed in
4) We buy back their coin using BTC or ETH.
We are thinking how to achieve the above, this coin is not available to the public other than the exchange we are listed in, we are buying BTC or ETH using FIAT and buying back our coins that we issue out.
We are thinking if the best way to achieve this is through creating the coin in ETH network or BTC network because the purpose of coin is to reduce the fees and exchange rate, bank rates that occur due to the current infrastructure.