Another dead idea
We are back. https://medium.com/@stephen_17820/online-combined-opencyc-wordnet-and-wiktionary-a06757531cbe
Topic: AI Coin Development Diary (Read 49301 times)
... pay a software licence fee to the company...
This coin will not take off under that model.
What will happen, is that all of your technology will be copied and used in a clone that will take off.
Of course, you can get around this by making the coin closed source, in which case I doubt you'll ever sell one license fee.
I have to agree with drawingthesun. Mining is hard enough as it is without having to pay the devs / parent company / whoever for the privilege. That might make it a hard sell.
https://github.com/ai-coin/KafkaBlockchain
OK, so when is the tentative release??
SlipperySlope has lost control of his username in one of the past breaches and I asked him if I could post an update to this thread so here it is:
https://medium.com/@stephen_17820/the-birth-of-self-improving-artificial-intelligence-60df743b2505
My Brothers Twitter Profile: https://twitter.com/stephenlreed (SlipperySlope)
Another dead idea
OK, so when is the tentative release??
AI Coin cannot sell the coins created without requiring a MSB license. We were in the process of obtaining a FinCEN license, which is a US Federal License that specifies what sort of reporting is required to FinCEN. That agency routine accepts registrations. Our would-have-been partner exchange Bittrex is already registered with FinCEN, but not licensed in the 48 US States as an MSB.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
I'm sorry if this has already been asked and answered. I haven't been following your project closely. Why not distribute AI Coin as a "spin off" of Bitcoin's blockchain, so that everyone who owns btc can claim a corresponding amount of AI Coin?
there not going to do all that work for nothing come on would you they need to make a living..
Plus there trying to get a patent it will never happen NO CHANCE ..
J.P MORGAN could not get 1 and they tried over 100 times always rejected ..
AI Coin cannot sell the coins created without requiring a MSB license. We were in the process of obtaining a FinCEN license, which is a US Federal License that specifies what sort of reporting is required to FinCEN. That agency routine accepts registrations. Our would-have-been partner exchange Bittrex is already registered with FinCEN, but not licensed in the 48 US States as an MSB.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
I'm sorry if this has already been asked and answered. I haven't been following your project closely. Why not distribute AI Coin as a "spin off" of Bitcoin's blockchain, so that everyone who owns btc can claim a corresponding amount of AI Coin?
Just stay clear of the US dollar,if you want to use Fiat use UK Pound or Euro
AI Coin cannot sell the coins created without requiring a MSB license. We were in the process of obtaining a FinCEN license, which is a US Federal License that specifies what sort of reporting is required to FinCEN. That agency routine accepts registrations. Our would-have-been partner exchange Bittrex is already registered with FinCEN, but not licensed in the 48 US States as an MSB.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.
So to avoid this legal shit there could be several solutions maybe
1) if you still want deal with FIAT then register a company in Panama, Belize or any similar state
2) organize a lottery sell lottery tickets and the winners will get pries in your crypto coin
3) best option would not have anything to do with FIAT money just
distribute the crypto coin to the people
YES deal with every fiat on the planet earth.1) if you still want deal with FIAT then register a company in Panama, Belize or any similar state
2) organize a lottery sell lottery tickets and the winners will get pries in your crypto coin
3) best option would not have anything to do with FIAT money just
distribute the crypto coin to the people
And deal fiat on every planet in the universe.
If you want success in AIcoin government need to approve
best to do it by the book like they are doing
so be keeping my eye on this 1
plus well done DEVS looking good
So to avoid this legal shit there could be several solutions maybe
1) if you still want deal with FIAT then register a company in Panama, Belize or any similar state
2) organize a lottery sell lottery tickets and the winners will get pries in your crypto coin
3) best option would not have anything to do with FIAT money just
distribute the crypto coin to the people
1) if you still want deal with FIAT then register a company in Panama, Belize or any similar state
2) organize a lottery sell lottery tickets and the winners will get pries in your crypto coin
3) best option would not have anything to do with FIAT money just
distribute the crypto coin to the people
Launch Postponed
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
And you got back again to the previous temptatation?!On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Everyone interested in buying into this should ask himself once and only once: why should a decentralized consensus ledger need to be fully licenced before it getting any traction at all?
Whose benefit could be legally at risk?
Not hard to see..!
Good luck.
My thoughts exactly
There not giving them to everybody for free
Money Service Businesses
The term Money Service Business has a special meaning under the Money Laundering Regulations 2007. Your business is a Money Service Business under these regulations if it:
acts as a bureau de change - even if this is on a ship that isn’t always in UK territorial waters
transmits money, or any representation of money, in any way (just collecting and delivering money as a ‘cash courier’ isn’t transmitting money)
cashes cheques that are payable to your customers
Even if your business only does one of these things, it is still classed as a Money Service Business.
HMRC is the supervisory body for most Money Service Businesses under the Money Laundering Regulations. If you run a Money Service Business it’s your responsibility to register with HMRC unless you’re already supervised by the Financial Conduct Authority (FCA) for the purposes of the Money Laundering Regulations. You mustn’t act as a Money Service Business until you’re either registered with HMRC or supervised by the FCA.
Pawnbrokers who act as Money Service Businesses must register with HMRC, who will supervise both the pawnbroking and the money service aspects of their business.
When you don’t need to register as a Money Service Business
Occasional money service activities
If you exchange currency or cash cheques only occasionally, or only on a limited basis, then you don’t have to register as a Money Service Business if:
your total turnover from these money service activities is no more than £64,000 a year
turnover from money service activities is no more than 5 per cent of your total annual turnover
currency exchange or cheque cashing transactions worth more than €1,000 must be limited to one per customer - this could be one single transaction or a series of smaller transactions that seem to be linked
the money service activities must be secondary to your main business activity and directly related to it
the currency exchange or cheque cashing service must only be available to customers of the main business - it mustn’t be available to the public
your business isn’t operating as a Trust or Company Service Provider or an Accountancy Service Provider
You’ll need to meet all of these conditions, otherwise you have to have licence.
I could imagine its almost the same for the U.S.A
UK and U.S.A are partners when it comes to money and war
Plus can you tell me if someone sends coins to my wallet will they get to my wallet in a second
you say it does
And how much do you plan on selling your first batch of coins for
Launch Postponed
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
And you got back again to the previous temptatation?!On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Everyone interested in buying into this should ask himself once and only once: why should a decentralized consensus ledger need to be fully licenced before it getting any traction at all?
Whose benefit could be legally at risk?
Not hard to see..!
Good luck.
My thoughts exactly
Launch Postponed
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
And you got back again to the previous temptatation?!On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Everyone interested in buying into this should ask himself once and only once:
Why should a decentralized consensus ledger need to be fully licenced before it getting any traction at all?
Whose benefit could be legally at risk?
Not hard to see..!
Good luck.
Launch Postponed
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Good call. On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Launch Postponed
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
On the advice of our diverse set of financial and regulatory attorneys, we are postponing the launch of AI Coin until such time as we have obtained the necessary money services business licenses in 48 States, and BitLicense or equivalent licenses in jurisdictions requiring them. To go forward without those in place would make our business plan a legal risk.
Development continues.
Thanks a lot for your constructive feedback!
Our team agree today to remove the animated robot graphic and make the ai-coin.org website better with respect to an audience beyond gamers. Plus we will do a better job for mobile.
Our inspiration sites that look great on large screen and on mobile too ...
Monero - https://getmonero.org/home (one page without vertical scrolling)
Ripple - https://ripple.com/ (aimed at financial institutions, good use of customer recommendations which highlight Ripple benefits, my favorite but obviously expensive)
Dash - https://www.dashpay.io/ (scrolling with menu tabs, significant rebranding of privacy-centric Darkcoin)
Our team agree today to remove the animated robot graphic and make the ai-coin.org website better with respect to an audience beyond gamers. Plus we will do a better job for mobile.
Our inspiration sites that look great on large screen and on mobile too ...
Monero - https://getmonero.org/home (one page without vertical scrolling)
Ripple - https://ripple.com/ (aimed at financial institutions, good use of customer recommendations which highlight Ripple benefits, my favorite but obviously expensive)
Dash - https://www.dashpay.io/ (scrolling with menu tabs, significant rebranding of privacy-centric Darkcoin)
I just saw the new site which looks a lot better. The toolbar up top is great and I assume you'll be adding more to it. I didn't see a Twitter or forum link on the site however. The new logo on the site looks good as well. The new one on the Twitter account looks kinda goofy though, you should match the banner and logo from the site to the Twitter account for continuity. Looking forward to launch!
I was referring to the plan mentioned in a previous page, before this new one being informed here (I just follow this btctalk thread).
Your new plan looks much better, and unless you put a harsh percentage to be paid for the software fee (>%5), paying the fee won't be a huge minus for this POS model.
Your new plan looks much better, and unless you put a harsh percentage to be paid for the software fee (>%5), paying the fee won't be a huge minus for this POS model.
I will create the launch announcement thread next week, and retire this one.
The software license fee will be large, and furthermore the dollar share provided to the fixed number of super peer miners will be capped so that they earn a maximum of $1500 per month. From the viewpoint of the 20 or so super peers that may seem unfair, but it is a really good deal compared to operating a modest bitcoin or scrypt mining operation. Firstly, the equipment is rented from a datacenter at less than $500 per month, and the operator is not responsible for what the datacenter provides: site security, provisioning, DDoS protection, electricity and bandwidth. AI Coin software uses its intelligent agents to be relatively self-administering. We do not need to attract any more super peer operators beyond those already expressing interest and operating super peers on our demo network. We will have super peers in the USA, Iceland, Belgium, Italy, India, and Australia. At launch, AI Coin will create its new blocks in more places than Bitcoin's top six mining pools.
Our business plan entails the spending of the new aicoins, 7,200 each day, to optimally benefit the current and future users. A goal is to grow the aicoin price along the trajectory followed by Bitcoin over its six year history. We are not novel as Bitcoin was at the time of introduction, but we can spend aicoins for marketing, advertising, promotion, education, customer service, etc. in ways that the Bitcoin Foundation simply cannot. Metrics to measure the results of our plan execution include aicoin price relative to bitcoin and litecoin, number of ai-cointalk.org members, social media mentions, number of transactions, value of transactions, number of unspent transaction outputs, and so forth. Discovering customers and optimising the advertising expenditures is a solved problem. We will simply follow best practices.
In order to have funds to pay for the promotion and other means to bring AI Coin to the mainstream, it is necessary not to overspend for network infrastructure as does Bitcoin, nor overspend to make the rich richer, as does the typical proof-of-stake altcoin.
The best way to acquire aicoins will be to either buy them at Bittrex, or to earn them as a part-time contractor by performing tasks that benefit our system or our community. Note that US residents contractors will have to give the company bookkeeper (herself a part-time contractor) their name, address and SSN for our 1099-MISC federal tax reporting.
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