[rdyoung]

We are officially launched.

This first round will be limited to 50k shares total. I will begin a new round if/when I feel the demand is there, note that future rounds will likely be priced higher than the first one.

Crypto Stake Coin or CSC is a Proof of Stake backed asset that lives on the blockchain in the form of colored coins.
Dividends: To keep the basket as evenly weighted as possible we sell off coins that have gained value, included in this will be an amount equal to the staked coins from the prior week.

You can purchase shares via coinprism.
https://www.coinprism.info/asset/ANuuvGvVXzpLh8qLxv3oqYNrGoRWxgmu9Q

To purchase shares via the crowdsale please send btc to either the Asset or BTC address.

Assets akXecweeX3G3onxvYaMSN3P1aKSE5GrVsZY

BTC 1MgjhUqBZnA7vimBXjLBPX6zyq3uK7Voqi

The asset address for purchases via BTC is akXecweeX3G3onxvYaMSN3P1aKSE5GrVsZY
The price is currently 0.004 a share or roughly 1$. Note that the 1$ valuation is for reference only, CSC does not operate in USD or any other fiat currency, nor will be ever converting funds to/from any fiat. This pool operates in BTC and BTC only.

Please be sure to include the fee with the amount for the shares you wish to purchase, any funds that don't equal a full share will be returned to your btc address.

https://docs.google.com/spreadsheets/d/1rGajpzQ8qLvce6e6P5XfNcWu6FCEukGNILBqn9buU74/edit?usp=sharing

Operational Costs and Management Fees.
Following Standard Operating Procedure, There will be a 2%/Annum fee for my time and effort running this pool.
Operational Costs are still being determined and will be deducted prior to dividends being issued. I will update this OP and the sheet well before I start deducting costs.

@gotram is now selling the coins on his site yangongear/

Our Facebook, Twitter and Subreddit.
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Reddit
Twitter

@lothendriel has done an amazing job with our website]4

I have also started alpha testing keybase.io you can see my profile here

You can now purchase CSC from the shop on our website.

Anyone who wishes to contribute staking coins for shares of CSC, please send the # of coins you wish to contribute to the following addresses and send me a PM with the transaction ID and your asset address. If contributing more than 1 coin, I will include all the coins in 1 issuance of CSC.

Reddcoin = RrvJ6fJSiW4oxBb9rx3ZHH9TNnGFzg7o1F
NXT = NXT-2RWK-PM4W-9TJY-DUF5D
Hyperstake= pUdwYtiubHykqMD3T8qSgZfvFmJM58mft7
Hypercoin = HNjrMeWZW31ycoUc2nfX7pSNt7u4NcfWiV
Clams = xQH3nGNA51HXNKKBALeu92Ye8rUDsxo34F
Netcoin = n5nDZWKkv8QWBPkwau25qoiDxKGZvSFGHz
Shadow = SYgGjDwEx7WJ6hNumA8QxFFkB8zvkbiYvn
Blackcoin = BQqUyzKXrS1RBiQvoFWb6Ttt6UjgkDZ6ZU
Hobonickels = EuEtaue7SdDY53iup8MpbL75dxpR2RHtzt
Paycoin = PDtq7GBrPMiz4M3BFhjKNNSQWn2qB3P1GS
Tekcoin = BkSwStLbbhUiPSNh3vPvLD5YAt3Vtoz8SQ
Mintcoin = Mu3S2CUqQrYfAi2Eh1hZqFRQEW9yoQ1wYM
BottleCaps = EwrpHmp7yAUNPM5Tg9EHWgCukQW18ScSrv
Cannabiscoin = CfTR9EwvQbFSRsQMWFJFFwyBQdAy5tVA93
Hempcoin = H7wVYSkGM52X9XDnxUWqurruihC1gmsbLB

[Daffy]

Interesting idea. Where do the coins come from that you stake?

[rdyoung]

I will be hosting a crowdsale once I get things setup, 100% of these funds will be used to purchase the coins. I will probably also prefund a few of the wallets out of my own pocket.

[lothendriel]

Can people buy in with coins they have already? Maybe contributing to the balance of your main staking wallets? I am very interested and would like to hear more

[rdyoung]

Yes, I would be open to this.

[Daffy]

Ok any legal problems with this? @cyberdexterI know you investigated something like this.

@rdyoung A potential coin list would be interesting to see.

[rdyoung]

No clue about legal problems, if it gets large enough to warrant it, I will look for counsel to help navigate.

I am currently awaiting the blockchain to confirm my funding of the wallet so I can issue the coins. I am going to throw together a spreadsheet in a minute with the coins I know of and want to support. If anyone has a coin I should add, please post here or pm me.

[cyberdexter]

Nice idea @rdyoung

Ok any legal problems with this? @cyberdexterI know you investigated something like this.

Yes, that's why GHstaking is setup differently.

[rdyoung]

Thanks. As I said in OP, its something I have wanted to do for sometime and last night I almost didn't go to bed

[cyberdexter]

You need to wrap it and word it differently or you'll be offering a "security" or "fund" similar to a savings account that is paying interest.

[rdyoung]

Any suggestions on how I would do that ???

[cyberdexter]

Well, the moment you allow people to deposit coins to your staking wallets or collect funds to purchase those coins for staking you're basically creating saving accounts which pay interest. Think HashStaker and Paybase, SEC.

GHstaking is different since we'll be mining those coins or we'll be mining their pools to accumulate those coins. Thus we're not accepting funds and neither will we be allowing people to contribute / deposit coins to those wallets. Therefore GHstaking doesn't qualify as a security since GH is minting those coins and cycling the generated stake back to GHcoin owners which are shares in our mining operation with the staking being a GH generated "perk".

[rdyoung]

Ok, so I will rescind my offer of direct funding of wallets. I can sell them the shares via whatever coin I feel like and then fund the wallet via other means to keep funds separate.

As for the staking coins versus mining equipment, I understand what your saying. I would argue though that the coins being used to stake are equal to purchased mining hardware, they are what secures the network. This is obviously something that will have to be hashed out in the near future, pun intended, for the legal landscape to be made clear.

[Daffy]

I understand what your saying. I would argue though that the coins being used to stake are equal to purchased mining hardware, they are what secures the network.

That is the problem with legal they don't understand the technology. The POS makes the coins nobody is paying to get those coins created but legal does not understand that. Also people purchasing coins and depositing into the address should be possible because the source of the dividends (POS payouts) is not something to do with investments the coins get created without any money involved. But again legal does not seem to grasp that concept.

[rdyoung]

Not yet anyway. I will take what @cyberdexter suggests and do the slight of hand when it comes to funds coming in via other coins.

I will have to look up the exact info, but from my egold hyip days, I remember that there is an upper limit on funds being run by individuals for investment groups, friends/family/etc without them having to be registered with the sec and have all the redtape covered. There is a limit to either # of investors or $'s or both.

Note: I ran a few hyips that were backed by forex and other investments/trading, have yet to have a tie from the sec knock on my door.

[gotram]

nice concept
have send 0.01btc

[cyberdexter]

"Gotta talk to legal" sounds like .... but yes, it's true.

There is a lot of things to consider especially if you're based in the US which GH isn't. @rdyoung I can only suggest that you do some research in this matter to cover your own butt. Everything is possible it's just a matter of how it's worded and presented and operated.

Your staking is certainly doable just make sure nobody can pee on you. You know how it is in crypto. Someone dislikes you, they will burn and grass you to the right people.

[rdyoung]

Understood. I appreciate the feedback.

[paulc010]

Interestingly when dooglus reopened just-dice using CLAM (POS coin) he now stakes the bankroll and the staking rewards are treated the same as a losing bet (and paid to those that are bankrolling the site proportionally). The upshot of this is that on top of the 1% house edge you also get a "share" of a wallet that stakes very frequently/effectively.

I have no idea regarding the legality or otherwise but maybe dooglus has done some research into it that may be helpful? It sounds to me like you're proposing something similar but across several coins rather than one?

[cyberdexter]

bear in mind that it is very unlikely for any authority to waste resources on clamping down on a crypto site or asset if the investigation would cost them 1,000 times what the site turns over or generates. As long as there is no dodgy business going on (scam, ponzi etc) none of them is likely to waste their resources and time on a small(ish) venture. Having said that, they are obviously obliged to follow up if a complaint is filed.