Quote from: Circonference on October 08, 2014, 06:39:12 PM

Quote from: ruletheworld on October 08, 2014, 01:59:33 AM

Where are you based? Are you incorporated? Are you regulated? Is it legal to run such a scheme in whichever jurisdiction you're located in? I am not doubting your authenticity, just want to make sure you know what you're getting into. This isn't the first time I've heard of such an initiative.

Yes, CryptoFund is new. It's not a monumentally original idea, I mean people have been managing other people's investment for centuries but we seem to be the first people out of the gate in packaging it this way for alternative cryptos. It is 100% the result of constant nagging by people like Lemeyilleur (all our services are defined/requested by members of the Facebook group. You should join because the daily chatter is also useful info for self-managed alt-coin enthusiasts.)

We are based in Canada (both main co-founders) which is a bit more Bitcoin-friendly right now. We have additional collaborators in the U.S. as well. OP/Wesdewayne is in Washington D.C. or editors are in Georgia and Florida. Our team is kind of growing so I suggest the About page for an up-to-date version of this.

We are benefiting from a grace period right now which will last until next spring (Or June 15 to be exact). Technically, nothing in life is legal, we can only work really hard to not be illegal and that is an ongoing effort which will ramp up during the winter (EDIT: We live in a two-level system where we work provincially and nationally to be ready for this when time comes). We are super lucky to have access to a crypto-currency lawyer who follows all of this daily. Even if the local government wanted to regulate us, they do not yet have the mandate or ability to do so (additionally we do not accept fiat currency). Three of our advisers, which we will introduce in a few weeks, recently testified before the Canadian Senate in order to help them better define crypto-currency laws to serve innovation. Again, we are actively seeking to be totally legit within our local jurisdiction, it is our would-be regulators who are not quite there yet.

Please understand that just like any other business dealing with U.S. bitcoin users, we are bracing ourselves for YOUR regulatory decisions because they will affect us so much more! We really hope that Canada and the U.S. can have compatible crypto regulations so we can do business together smoothly going forward in the future.

Cordially,
Marie-Lynn

Cool, that sounds good to me. I'll keep an eye out, looks like a very promising enterprise overall. Good luck!