Proposal "CryptoLawyerFund" (completed)Back

Title: CryptoLawyerFund
Owner: abettorpin
Discovery: View - 5
One-time payment: 10000 TRC (317.66 USD)
Completed payments: 2 totaling 20000 TRC
Payment start/end: 2018-08-31 / 2018-10-18 (added on 2018-08-01)
Votes: 250 Yes / 72 No / 8 Abstain
Will be funded: Yes
Manually vote on this proposal (Terracoin Core - Tools - Debugconsole):
To Vote 'Yes': gobject vote-many f66862d7fe07c536868016b4a0de18a13b75f0810b912db922da0120cd2e2425 funding yes
To Vote 'No': gobject vote-many f66862d7fe07c536868016b4a0de18a13b75f0810b912db922da0120cd2e2425 funding no
To Abstain: gobject vote-many f66862d7fe07c536868016b4a0de18a13b75f0810b912db922da0120cd2e2425 funding abstain

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Description

As many of you know, there has been quite a bit of effort in pulling together a business/ angel  investment proposal for the Foundation so that our main two guys can get funded to "go full-time"(Clock/ Sin).

One hurdle we're running up against is our federal entity status, which we are working to get filed with the IRS. We also need to have this nailed down for new exchange listings, as scrutiny is being increased by regulatory bodies.

We have engaged multiple lawyers in these discussions and are still in the negotation phase, but one thing we know we will need regardless of how this process proceeds, is to pay the lawyer(s).

Ideally we have anywhere from 15k-20k TRC on hand for a legitimate crypto lawyer who is willing to accept crypto for their services (of which we are engaging with at the present time).

I am therefore requesting that we set aside 10,000TRC for this fund.

Thank you all for your patience, best rest assured that the efforts are moving full-steam ahead. 

Should this proposal pass and it turns out no Crypto Lawyer Fund is needed, this 10,000 TRC will be donated to the Foundation.

https://services.terracoin.io/p/CryptoLawyerFund


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Discussion: Should we fund this proposal?

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0 points, ~8 months ago
Thank you for your efforts and steadfast commitment to this initiative.
Reply
0 points, ~8 months ago
I *really* tried not to post this, but my lesser- angle won.

My mind is blown that anyone would vote against this proposal, especially with zero vocalized disent on their end. Help me (and the community-at-large) understand the concerns at hand so I/ we can explain further, or adapt to your reason.

So! I'm inviting the nay-sayers to nut up and explain why they feel the Foundation doesn't deserve legal protection funded (inpart) through Terracoin's block yield.
Reply
0 points, ~8 months ago
I've abstained. I agree with the idea that we need someone to help us out.

However, for the amount of money we're putting in (in lawyer terms), I find it hard to see how a crypto lawyer would be very committed in the project.

Some points from me (who still doesn't understand the full details)

1) How can we trust the lawyer isn't going to take the money and run?
2) Would they be providing a sample contract for us to review?
3) An example scenario where a crypto lawyer would help me understand why a lawyer would be helpful for us.
Reply
0 points, ~8 months ago
Hey RC,

Thanks for commenting your concerns. They are valid. My apologize for my late response; I've been traveling this past week.

Let me address your concerns one by one.

1) At this point, the search goes on for a trust-worthy lawyer who will have not just my confidence, but the confidence of the Foundation. I'm not running-and-gunning on my own, so anyone we come up with, will have to dupe more than just me in order to "take the money and run." I suposse you will just have to trust that the Foundation and myself, will continue to do what is in the best interest of Terracoin, as best we can.

2) At this point, the only proposals we have been able to get have been verbal, and are simply ridiculous as far as estimated prices go. That's not to say the price they are asking is unwarranted; it's just much more than we can afford at this time. Should we be given a contract that looks legitimate from a lawyer we have vetted, sharing an example contract with the community will absolutely be considered. It feels like this is a bridge the Foundation will have to cross at that time, but I would think this is certainly doable.

3) I will say that the Foundation and myself have taken this endeavor as far as it can go without bringing in a lawyer. We simply do not have the know-how to legitimately file the Foundation's entity status, nor write a pre-emptive legal opinion regarding non-security designations as US based regulatory bodies are requiring, further and particularly with the confidence that it will be approved by the IRS on the *first* go, and not challenged under threat of fraud by the SEC. It's nothing to play around with, and we are taking this extremely seriously. A lawyer is necessary.

Unless TRC shoots up to $1+, or we find a trust-worthy lawyer who is willing to take a gamble on accepting/ holding TRC rather than getting paid in USD, these funds will not be cashed out at current market value. I think we all believe TRC is much more valuable than what the market is telling us it is worth today.

I really hope this helps. Please respond with any other comments, and please reach out to me or the Foundation on MM if you have ideas or know a lawyer that is a possibility. We have certainly not gone to sleep on this and will keeping grinding until we find the proper resolutions to this tricky task. Thanks again for commenting!
Reply
0 points, ~8 months ago
I am strongly in favor of us Putting all effort in to get a full time core team. The perspectives in growing TRC with full time dedicated members is a huge step that We need to look ahead for. Once We get above the 1$ mark alot more members will begin to be able to join the core team part time or full time from Their MN earnings alone :)
Reply
0 points, ~8 months ago
Thank you for your support Buff.

So many amazing things are going to happen when TRC hits $1, and it will! This project is top 10 status, and I, and the Foundation, truely believes this.
Reply