Quote from: Karl Hungus on August 23, 2017, 02:33:53 AM

Quote from: CrazyLoaf on August 22, 2017, 11:59:39 PM

Quote from: smooth on August 22, 2017, 11:06:06 PM

Alternately, dilute M and run an ICO with the new supply. The long history of the game and existing player base can be considered as adding value through bootstrapping, and the ICO proceeds used to further develop the game engine, hire writers for storyline, etc. and launch marketing.

This is mainly what I was thinking of with the 6 tril dilution. Town gets 1 tril to have its 10%, then the 50% is used for ICO. Alternatively, can just take over Zech's 50%, give Town 10%, and ICO the 40%.

I think this is a good idea to explore, diluting M to give Town 10%, and use the remainder for an ICO to fund development. I would suggest taking the snapshot for the ownership token before the ICO, to soften the dilution a little, and maybe the numbers can be tweaked slightly, but the Game needs dev funds, and an ICO is probably the best option.

Long term, I want to see Risto regain control of his accounts and rejoin the Game, so I am not in favour of confiscating his in-game assets now for either development, or forced debt repayment. My personal opinion is Risto has already lost enough money from his involvement with CK, and he could plausibly plead some form of diminished responsibility for his bad decision making due to stress induced mental health problems. That doesn't mean the debt issue can be ignored, but IMO Risto should be given every opportunity to negotiate a 'fair' repayment plan with his creditors, probably tied in some way to the value of M.

The best outcome for the Game is:
1- Risto negotiates a repayment plan with those he owes, probably linked to the value of his assets, and regains control of his accounts
2- Re-start the economic engines of the Game, namely building payouts, taxes, etc
3- Restructure M, as outlined by Loaf/smooth above
4- Tokenise M

What's his leverage to negotiate anything?

He wrecked the game and scammed a large portion of the player base by abusing his admin access. That calls for a significant to severe in-game penalty, up to and including expulsion. Attachment of his in-game assets is mild by comparison.

IMO, once his assets are worth at least enough to pay a meaningful portion of the debt, he should be given one last opportunity to pay the debts, and then the assets can be sold (in an responsible orderly manner, which may take time). This can further include: a reasonable fine to be paid to the Town for abuse and destructive behavior, some Town-determined statutory rate of interest to compensate those harmed for time value of money, and finally a reasonable fee for the liquidator. Whatever assets remain after that, he can still reclaim.

I agree with snapshotting CKO before ICO, in part to ensure that the ICO token is a pure utility/in-game currency token without any ownership rights or future ownership rights. That will simplify the ICO terms and marketing, and reduce concerns of exchanges about legal problems.