Messages

I just thought of something:

Truthcoin could be launched as a pseudo-sidechain of Bitcoin, before Sidechain functionality is actually added to Bitcoin.

How it would work:

1. To convert BTC to CHC, users send their BTC to a multisig address controlled by a large number of key holders (e.g. 10), known as the conversion address, in a special transaction that also encodes their CHC deposit address.

2. The Truthcoin blockchain is aware of the Bitcoin blockchain, and when one of these conversion transactions occurs, automatically deposits CHC into the respective CHC deposit address.

3. When Sidechain functionality is finally rolled out in Bitcoin, the BTC held at the conversion address is transferred to the Truthcoin sidechain, and Truthcoin does a hard fork to formally back all CHC with BTC, so that CHC holders can convert their CHC back into BTC should they choose.

I'm just brainstorming, so no need to give an assessment of this. Ideas are a dime a dozen, but it doesn't hurt to share.

Got it, thanks.

Is it illegal for U.S. citizens to solicit investments in non-US regulated stocks? I thought they just weren't allowed to solicit other American citizens to invest in non-US regulated stocks.

Rental Starter (RENT), listed on Havelock Investments, has American principals, has its operations in the US, but has its firm registered in Hong Kong, and only solicits investments from non-Americans:

https://www.havelockinvestments.com/fund.php?symbol=RENT

Thank you very much for the response.

A couple follow ups:

The version that will be released over the next few months (a comprehensive version in a few weeks, a user-friendly version in summer) - will that be a sidechain version? If not, what will happen to it once the sidechain version comes out?

When do you expect to do the fundraising sale of votecoins?

Legally, are you going to structure the sale the way the Ethereum team did, to stay clear of SEC laws (e.g. by avoiding selling to Americans)?

I'm very interested in Truthcoin but have a lot of questions:

I read on the Truthcoin site that it is planning to be a sidechain of Bitcoin, which would be very cool. Is this still the plan?

How will cashcoins and votecoins be distributed if Truthcoin is launched as a sidechain? And if it isn't?

At first glance, it seems to me that making cashcoins fully pegged to bitcoins, and generated by transferring bitcoin into the chain in a fully reversible way, while distributing votecoins via a sale to raise funds for development, would make the most sense.

Is there an ETA on blockchain launch?