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If these are registered securities they will need to trade on regulated exchanges where the company knows all the token holders only and thus cannot be used in decentralized applications by normal people. Which seems to defeat the purpose in the first place. Or..?
I've been tracking BlockStack for a time, and love the technology. I particularly like how you have supported Decentralized Identifiers by specifying a DID method for use with BlockStack. I think decentralized data and identity is one of the killer blockchain apps, or at least I hope so.
If these are registered securities they will need to trade on regulated exchanges where the company knows all the token holders only and thus cannot be used in decentralized applications by normal people. Which seems to defeat the purpose in the first place. Or..?
Regulation A+ is technically an exemption from registration requirements. Although in practice it works closer to a fully registered offering. Just pointing it out because the Stacks tokens are not "registered".
Transfers can take place between users/peers and do not need to be registered. Trading in the US needs to be on a regulated securities exchange while the token is treated as a security. See our FAQ question on exchanges: https://stackstoken.com/faq/
Trading in international jurisdictions depend on appropriate local law.
Finally, this is decentralized open-source technology and Blockstack PBC cannot control activities on the network.
Earlier quoted context omitted.
I didn't get into Clarity in my summary above but really into the decidable smart contract language design. The reason I didn't mention Clarity is because most programs on Blockstack are not smart contracts. We think that smart contracts are only a subset of use-cases and should only be used when needed vs. making smart contracts the only way to program decentralized apps. For any readers that are intrigued by what i…
> We think that smart contracts are only a subset of use-cases and should only be used when needed vs. making smart contracts the only way to program decentralized apps Totally agree. Great job with blockstack, the APIs seem real easy to use - only thing I'm worried about is that the mobile SDK's are just JS wrappers so the JS bridge might be a speed bottleneck in mobile apps. Also, are there plans for a Flutter SDK…
Good luck Muneeb! It's always nice to see a fellow Pakistani doing great things. I particularly have to give you props on all the effort and investment required to be the first SEC qualified token offering. The vertical has been dominated by bad headlines and bad players, so this legitimacy is a great step forward, and you guys are trailblazing here. Highly commendable.
Mujhay bhee Pakistani logon sey mil kar achaa lagta haay (That's Urdu in case anyone is wondering.) Appreciate your support! Crypto is generally a wild west and we're trying to help mature this industry.
This looks amazing @muneeb, behtareen!
I've been intrigued by Blockstack, but cautious about the token sale. Am I correct that the tokens that go on sale will also be later mined at a yet-undecided-upon formula?
Yes, tokens will be mined, for the latest plans see https://forum.blockstack.org/t/improved-mining-algorithm-min...
Earlier quoted context omitted.
Yes, tokens will be mined, for the latest plans see https://forum.blockstack.org/t/improved-mining-algorithm-min...
Has the BlockStack Proof-of-Work been chosen yet?
Initially, we rely heavily on proof-of-burn when the native hashpower on the network is lower. We're currently looking at memory-hard hash functions for the native PoW part.
It's a nice way to pump a 2500x return for yourself and investors before any exchange listing. Can't wait for the SEC to endorse that behavior across the ecosystem. /sarcasm
Boggles my mind that the SEC would give the tick to an ICO with heavily discounted tokens. You gave founders, employees and investors tokens at $0.00012. Then you sold discounted tokens at $0.12. Now you're pumping the pyramid scheme further with a public sale at $0.30. It's a nice way to pump a 2500x return for yourself and investors before any exchange listing. Can't wait for the SEC to endorse that behavior across…