Forking

[bitbro]

Would a developer please comment on the difficulty of forking and assigning equity to PTS/AGS? How is it done?


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It is easy for one with technical understanding of the code to produce a fork and assign equity. I wrote the document and it is also already merged with the website.

For those with no technical understanding, you can hire out someone to make the basic chain and include the equities, then you do the finer stuff like logos and icons. Or you could try going it alone, whichever works for you.

Thanks. How much would it cost to hire a technician to make the basic chain and include the equities?


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[barwizi]

Would a developer please comment on the difficulty of forking and assigning equity to PTS/AGS? How is it done?


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It is easy for one with technical understanding of the code to produce a fork and assign equity. I wrote the document and it is also already merged with the website.

For those with no technical understanding, you can hire out someone to make the basic chain and include the equities, then you do the finer stuff like logos and icons. Or you could try going it alone, whichever works for you.

[toast]

There is a bounty for a tool to take the snapshots and tutorials for initializing genesis blocks

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[bitbro]

Would a developer please comment on the difficulty of forking and assigning equity to PTS/AGS? How is it done?


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[bitbro]

I3 likely won't dirty their hands with forking just for greater percentage equity, at least not publicly.




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[bytemaster]

Additionally corporations only pay taxes on profits, not revenue. 

As long as our 2013 expenses match our income no tax is due.   

These issues are being handled by our accountants and lawyers and yes we have looked into non-profit status.

[bytemaster]

Shouldn't we demand invictus become a legally registered non-profit organization before we start creating a pyramid of forks for them to get cash flow from again and again? I mean if we're about protecting the community, shouldn't we start with them to protect us?

I say this because currently... they are a for-profit company... which means all these "donations" get taxed... do you think its right for them to pay 40-50% of taxes on our donations... when if they were a non-profit they would not be taxed at that rate and more of our money would be used for us?

that one step alone could save millions over the course of a year with the amount of money they are getting...

The federal government imposes a tax on gifts larger than a certain amount. This tax is paid by the person giving the gift, not the recipient. The gift tax rules apply to gifts given by corporations. However, when gift tax is due on corporate gifts, it's not actually the corporation that's liable for paying the tax.

Individuals Only
According to the Internal Revenue Service, the gift tax applies only to "individuals" -- that is, people. Corporations do not pay gift tax, nor do other entities such as partnerships, estates or trusts. However, if a corporation does give a gift that qualifies for the tax, the tax still has to be paid by someone.

Paying the Tax
When a corporation gives a taxable gift, the stockholders of that corporation are liable for reporting and paying gift tax; each must file a gift tax return for his "share" of the gift. Tax law is essentially silent about how to divide up the responsibility, since corporations generally don't go around giving taxable gifts. Small-business corporations with just a handful of shareholders may be able to assess the responsibility fairly easily.

Related Reading: How Does a US Corporation Utilize Foreign Tax Credits?

Gifts Subject to Tax
Gift tax is assessed based on the total value of the gifts from a particular giver to a particular recipient. As of 2012, a giver could provide up to $13,000 worth of gifts to a recipient before the tax would apply. With such a limit, a business shouldn't have to worry about gift taxes for token gifts. Gifts to tax-exempt organizations, including charities, are not taxable

[Darkbane]

Shouldn't we demand invictus become a legally registered non-profit organization before we start creating a pyramid of forks for them to get cash flow from again and again? I mean if we're about protecting the community, shouldn't we start with them to protect us?

I say this because currently... they are a for-profit company... which means all these "donations" get taxed... do you think its right for them to pay 40-50% of taxes on our donations... when if they were a non-profit they would not be taxed at that rate and more of our money would be used for us?

that one step alone could save millions over the course of a year with the amount of money they are getting...

[sumantso]

^ nice one, bytemaster.

[bytemaster]

[Geneko]

I think its perfectly ok to fork any idea NXT, Euthereum or any else.

Now someone would argue that idea has been stolen but this simply wound not be true. The idea would be stolen if it is physical property and taking it from someone would mean the owner wouldn’t be able to use it which is obviously not the case.

If Bitshare becomes widespread be sure that many will fork it. Like Ltc forked Btc, Pts forked Btc and etc..

[CLains]

But yes, playing devil's advocate is very important here. These are difficult issues, and I have no idea what the right answers are.

[CLains]

It would still be up to the AGS/PTS holders majority to accept or reject it. I don't think it's a given that they will accept just any stolen idea. For instance, Invictus might reject a stolen idea, even if it allocates 100% to PTS/AGS holders. In the end there's a whole infrastructure (video promotion, comments on forums, etc.) that decides endorsement, and the network effect takes off from there.

If someone says to me they forked NXT and gave me 50%, I would chose to protect my reputation and not participate, in fact I would denounce the whole idea and distance myself from it. It would be stupid of me to participate in a scheme that will die a horrible death, as it would drag me down along with it. We should foster maximum foresight with regard to the allocations we accept.

[bitbro]

Merely playing devil's advocate here, as I tend to do

[bitbro]

I see your point, but it seems all it takes is one greedy PTS/AGS holder or a saboteur I start this cycle


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