Proposal "AdditionalFunds4CryptoLawyer10KTRC" (completed)Back

Title: AdditionalFunds4CryptoLawyer10KTRC
Owner: abettorpin
Discovery: None
One-time payment: 10000 TRC (249.23 USD)
Completed payments: 2 totaling 20000 TRC
Payment start/end: 2018-11-04 / 2018-12-22 (added on 2018-10-30)
Votes: 184 Yes / 0 No / 0 Abstain
Will be funded: Yes
Manually vote on this proposal (Terracoin Core - Tools - Debugconsole):
To Vote 'Yes': gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding yes
To Vote 'No': gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding no
To Abstain: gobject vote-many c933b2a2dc1e93b052f1299276fc150567067625656d40d591279cde3badd8e0 funding abstain

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10,000 TRC

For those who have been following the efforts to secure the Foundation’s 501 status, and ensure regulatory protection, you know we’ve come up against a wall.

Long story short, everyone agrees we need a qualified lawyer, but they are expensive ($30K was the cheapest of all the lawyers we’ve spoken to that fit the bill). We’ve inquired getting lawyers to take us on as a client pro-bono, but have essentially been told “No, thanks for asking.”

While we’re in this holding pattern of not having enough money to pay a qualified lawyer, I am suggesting that we continually add to our lawyer fund when it makes sense (ie no other proposals will be affected).

A combination of factors will go into when to use the funds, like overall market sustainability, price, volume, whether the qualified lawyer accepts TRC, but one of the most important factors will be that the decision to spend the funds will be made not by one person, but by the founding and most active members of the Foundation.

The impact that squaring away the legalities of the Foundation's future is paramount. Securing non-profit status and remaining compliant in the eyes of the US's regulatory system will impact ALL of the TRC community and its future, as well as its ability to positively impact the world. These are necessary protections against a currently unsure regulatory climate that could result in the shutting down of the Foundation over-night if not put in place, which I think we all would agree, would be extremely detrimental to Terracoin, and erase years of dedicated work.

I know it’s not a fun or very interesting proposal, but the bottom line is, unless someone can come up with $30k or find a qualified lawyer to get the Foundation where it needs to be, it’s the best option to progress with this objective that I can conceive.

As per usual, the funds will transferred directly into the “Crypto Lawyer Fund” multi-sig address already established for this aim. That address is 3QoZjhc1xfEpMf3s3QLAkDmqHKww2k9h24. Below are links to check out the address yourself.

It is currently no.92 on the Richlist, and should this proposal pass, it will be No.71



Should we encounter a future situation where funds for a lawyer are still available once we secure non-profit status and ensure regulatory protections, they will be utilized in other operational capacities or put towards donation masternodes.

I am encouraging everyone who believes in the Foundation’s mission of Helping the World through Terracoin to PLEASE VOTE YES! If you are unsure, please ABSTAIN, or vote NO after much consideration, should your conscious tell you that is the right thing to do. Thank you.

Link to Discovery

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Discussion: Should we fund this proposal?

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0 points, ~8 months ago
Well, the 10K TRC has been received I see, when the rich list updates it will be in the 71st position on this rich list. So, I assume you made an error when you submitted this proposal? When I saw it, I already noticed there would be two payments, but it said nothing about two payments of 10K TRC in the proposal, which is why I assume it to be an error and I will downvote this proposal this month. I will clarify why.

While I do understand that, if we ever want to get close to $30K for a lawyer, we will need as much TRC as we can, I think the TRC for this month is better spent elsewhere.

At the end of the day, you asked for 10K TRC and this proposal passed, so if I were to vote no on this proposal that would in no way mean that I would not want any TRC to go to the lawyer fund, it would simply mean that I would support other proposals over this one.

This 10K TRC takes up a lot of the funds, and I saw a discovery for a charity for a Christmas event in Africa and of course TheSin's proposal for the hardware wallets and miners.

I would rather spend this month's TRC on either of those proposals because this proposal is basically funded, now there may have been an error and you accidentally made it into a proposal for two months, while you only wanted it to be for one month, that could be the case, but at the end of the day, this proposal is finished. You asked for 10K TRC, now this month I feel like the TRC could be spent elsewhere.

I hope TheSin and TRC_Helps_The_World read this and decide to make their discoveries into a proposal and take this 10k TRC that is now passing as an available amount because this proposal will be downvoted by others who share my opinion. This is not to say that we cannot send funds to the lawyer fund anymore, I think we should get as much TRC as possible for the lawyer fund, but other possible proposals need the TRC more than this lawyer fund right now, another 10K TRC to the lawyer fund is not going to get Terracoin a lawyer, but some TRC to TheSin and TRC_Helps_The_World could make a difference.

So, I will be downvoting this proposal this month, if either or both TheSin and TRC_Helps_The_world decide to turn their discoveries into a proposal. It's nothing personal, but this is the whole point of decentralized governance, we all get a vote. My downvotes will never be enough to make this proposal fail, but by clearly stating my motives here, I hope other people share my opinion and we can get funds for TheSin and TRC_Helps_The_World this month, or at least one of the two.

If however, no one decides to make a proposal and the funds will not be going anywhere but back into the blockchain at the end of the month, then the funds are better spent going into the lawyer fund. I really hope TheSin and/or TRC_Helps_The_World read this and know they got my full support with their proposals, should they decide to create them.
0 points, ~8 months ago
Hey Salvarth. Thanks for this and well said.

This proposal has been fully funded at the 10K trc, and I too would likely support any other competing proposal. My intention was never to double fund this, and after its creation expressed concerns about the potential of that happening. There was a creation glitch having to do with submittal timing, and to my knowledge, has been identified, if not already fixed.

Both Discovery proposals you mentioned above each serve to progress the Foundation's goals in different but very important ways, of which I commend. Should no competing proposal enter the mix, an additional 10k trc to the lawyer fund would certainly be beneficial, of which it seems everyone understands. With that said, the community should indeed be moving forward with the use of these funds in a multitude of capacities simultaneously.

Thank you for your continued support of not just the Lawyer Fund, but of the broader Terracoin community as it seeks opportunities to strengthen and evolve.