Quote from: mandibleclaw on April 29, 2018, 03:02:26 PM

Quote from: CHRISBIN702 on April 29, 2018, 09:00:08 AM

Wow! I was just reading all the posts here that I missed the last two days.

To Everyone In This Thread

Thank you all so much for the support. We knew we had a great idea. Personally, I was expecting a lot more naysayers. This is BTCT for crying out loud. Where are all my skeptics? lol. Seriously though, you have all been great and have been giving the team motivation to push through the long hours. We are building something great. It may seem simple at the base level, but I ensure you that mountains will be moved because of our efforts.

A few quick updates:

A week and a half ago I said that we were aiming for April 28th to begin our sale. I also said that was a wild guess that I came up with when I was filling out the forms for ICO calendar sites. They require that field have a date. I went with that date on all the forms I filled. Huh

So.... I was wrong. We are ready as far as our Smart-Contract goes. We need to be a little bit farther along with development though. Also, being in licensed LLC in the USA has it's challenges as far as compliance goes. But not at all impossible though.

I have more updates but I gotta run right now. I'll be back in the next two hours to finish this update. No exact date yet. We have to do this right and not rush into anything.

How it works for LLCs? They are also banned in the US regarding token sales? And I didn't understand yet why they label every ICO as a security, can you explain this to me?

I could only try to explain this complicated matter. But seeing as how our own government can not properly explain it, I don't think I will have much better luck. Mostly, this entire debate, no matter where it is taking place, is full of opinion and speculation. Not all tokens are securities. There are basic guidelines as to what makes a token a security.

The now Famous Howie Test is one such way to vaguely try and label a token a non-security. Another popular method I've been seeing for several months now..... I do not recommend this, by the way, I just find it rather hilarious..... Is when a company thinks that they can disguise their security token with clever verbiage and a list of "no-no" words that the staff and community managers must avoid at all costs. This route will come back to bite them in the ass later. lol.

We have a token that is consumable via our platform. We will also sell tokens from our platform after the ICO from our reserve pool that we have allocated exactly for this purpose. The price of our post ICO token will be $0.30, 10X more than the highest ICO price. This will make our reserve pool last much longer than if we sold them for $0.03. The reserve pool token sales is a necessary feature we have chosen to include to bring in all the parents and teachers that have no idea what an ICO or crypto is but really want to try our awesome platform because all the other parents, teachers and kids are using it.

Our in platform token sales, at first, will have to be USD purchased only. This is because if we allow for multiple cryptocurrencies this lands us in the exchange category. We wouldn't mind filing for whatever licensing we need to legally be able to exchange on our platform. For now, though, we have our hands full and must focus on development.

Luckily we are in talks with an exchange that is based out of Australia and they love our project and have offered to handle crypto:URA sales for us. More details to come on that.