December 6th Weekly Terracoin Update — Gathering
Current TerracoinCore Version: 0.12.2.4 — Date Released: July 19th, 2018
Thanks to abettorpin, xtr750, and buffer01 we have started seriously gathering funds for the future!
There are a lot of things to be paid for and because of these community members we have broken down exactly what we need the funds for.
We need to hire lawyers for two different important items.
The first important lawyer need is to help The Terracoin Foundation get non-profit 501c6 status. This lawyer needs to be Oregon based because we are registering The Terracoin Foundation in Oregon.
I have done a lot of work on getting The Terracoin Foundation legitimate, but with the ever-changing legal requirements in regard to crypto we wanted to make sure we are 100% legitimate so a lawyer is required.
We have already gathered $1,100 USD for this fund! Mostly provided by xtr750 and buffer01! Thanks guys!
We need all the help we can get to pay for this so please contact me via PM on any of the sites if you want to help out!
We are accepting USD only for this, so we don’t have to pay exorbitant amounts for a crypto lawyer.
Once this is accomplished, I will be posting a public invoice/ledger item showing exactly what we paid, but I currently am not sure how much this lawyer will cost.
Regardless the extra USD will be turned into Terracoin for…
You guessed it! The exorbitant amounts for a crypto lawyer to help with our second item!
Securities Opinion Letter
As the SEC cracks down on more and more scam ICO coins, crypto lawyers are more and more reluctant to put forth an opinion letter.
This affects even non-ICO coins like Terracoin.
We have been around for over 6 years, are totally transparent, and have a proven track record of ethical decisions.
That doesn’t make a crypto lawyer’s job any easier. They need to do their due diligence and they need to get paid a fair amount for it.
Most major exchanges now require this securities opinion letter so in order to keep expanding TRC we need more TRC donated to the Lawyer Fund.
The Lawyer Fund is a multi-sig account which abettorpin set up and we had collected 30,000 TRC via decentralized governance, but now we need to really get the communities support on this.
Seriously we cannot move forward on major exchanges without this opinion letter!
Because of that I just gave 20,000 TRC to the Lawyer Fund. Check the transaction and give some TRC now!
Remember a multi-sig wallet isn’t controlled by just one person. This one is controlled by 3 out of 5 people.
This multi-sig address is controlled by abettorpin, TheSin, GMG, SixofFive and me. That means we all have to agree on the lawyers hired to create the opinion letter.
Let’s fill this address up for the lawyer fund!
You can send your TRC to here: 3AN5jwYxjsRshTGiNQgZqKLyESFRjnrt2k
The 3 in the front means it is multi-sig!
Next on the list!
Even with non-profit status and opinion letters, sites are still charging to get listed.
I have a lot of feelings about this. I think we should only get listed on sites that respect us for our merit.
We have an almost unrivaled coin infrastructure thanks to TheSin and SixofFive.
We are always ethical, and transparent.
I think these three things should be enough for us to get listed on sites, but some sites still charge listing fees.
I don’t agree with listing fees, but I am not the only person in the Terracoin Community.
I leave this up to the community!
One of the sites that a lot of people want to get on is the decentralized exchange CryptoBridge. I like the site, but it does cost 3 Bitcoins to get added.
That isn’t so bad, but there are a lot of sites wanting payouts for listings.
I think the simplest way to do this is for me to set up a Bitcoin address (39vPvNeadHs8hBuKUW7zuRp8pi32sdg6U8) for Bitcoin donations to get on new exchanges.
Then as we hit each bench mark for sites, I will put in a proposal to spend the Bitcoin on getting listed.
That way the masternode community can control the future payout for Bitcoin listing to sites.
If that sounds fair send Bitcoin to 39vPvNeadHs8hBuKUW7zuRp8pi32sdg6U8, or if you have comments then please tell us on all of our forums!
This is a much longer Weekly then I planned, and more!
We have been listed for voting on SouthXchange. This can be another feather in our cap, so please vote!
Give USD to get our non-profit status set up by a lawyer. USD floats down to the next item.
Give TRC to get a crypto lawyer for the ever-important securities opinion letter. TRC floats down to the next item.
Give Bitcoin to get listed on pay to play exchanges.
Thanks again to our amazing community members for getting this money process started!
Sorry this weekly is so long!
One month ago, we were at 0.00000601 BTC (.0392 USD) and today we are at 0.00000595 BTC (.0201 USD).
A year ago, we were at 0.00001969 BTC (.3297 USD).
We are ranked 895 on coinmarketcap with a market cap of $463,124 USD. Last week our rank was 906 and our market cap was $580,891 USD.
Terracoin Foundation Masternode Donations
Mattermost (This is The Terracoin Foundation’s primary forum)
Last Week’s Terracoin Weekly Video Update