Have you noticed that with the constant fear of American rules and the SEC, there is no source of income for the CITIZENS?
CIP 207 should be redesigned to generate income for the citizens. And eliminate the fear of the SEC.
Alternative countries should be investigated by the council.
support 207 please !
Whenever i read something in this forum it always end up that we can’t do this bcs of some regulations etc. Always disavantages of having an LLC.
Is there any upside of having an LLC?
The upside is that we follow the law. You cannot have an organization of thousands of people who make money by selling NFTs and don’t somehow account for this, pay taxes and have a legal structure. There are only two states that have a DAO law. This is very new. Following the law carefully is of the utmost importance if DAOs are to have a future. This is not a get rich quick scheme. Anyone who wants dividends should go buy stock in a company. They offer dividends because they are securities. We are not.
There are people in this forum, typically from outside the US, who do not seem to care if we follow the law. If they make quick money and leave and then CityDAO is shut down, this doesn’t bother them because they made money and that was their point. These people are misunderstanding the nature of CityDAO and what this DAO was organized to do. These are the same people who offer no actual plans for how to improve the public good, but just call for CityDAO to “give people money” even though CityDAO doesn’t make money.
2 options right ?
Close or move LLC
Being a LLC is the “Alameti Farika” of CityDAO (means distinctive sign i guess) so i would prefer to be a LLC to differentiate the brand.
US laws not easy and we have to fullfil what is asked as CityDAO. So there is always to move it to another place. If anyone want to lead, pls lead it !
As a community person, what i want to focus is to give privileges to our citizens (not directly like share or profit. We know its not going to happen). Being a citizen should matter (it is right now actually but need more). Citizens should feel special to be a citizen. While ago we did some kind of project as community team at Türkiye. We had a web 3 house here and we made a deal with them for CityDAO citizens. It gave us some privileges which i think many would appreciate (seats for special events, workplace, discount, networking etc…). What i want is to expand and multiply these kind of works for CityDAO.
This is me
Regardless of where else in the world we start projects, we are tied to the US because of parcel 0 in Wyoming. We must follow US laws, and must have an LLC.
If we operate elsewhere, we then must ALSO follow additional laws of those other places, it will be additive. We cannot operate in a way that is outside of the legal framework of the US.
ok Davbles42
If following the law is such an upside we can find another country(with lighter rules). Not every country has strict rules like USA.
I don’t see much being done about that. Which CIP is really aligned with that vision?
I hope ETHDenver will be a success and we could find something to unite all of us under that vision.
Closing the LLC is the same thing as desolving the DAO.
Exactly, we have real assets at stake in the USA. All these people bought into this project knowing that fact.
You’re ignoring the fact that the DAO currently owns land, and that one parcel of land owned is in the US.
If you’re in favor of divesting that land, dissolving the LLC, and starting from scratch in a different country, why not just create your own DAO to do so. This one operates land in the US and that has been the plan since inception, no need to hijack this project when you can create your own.
That’s what I don’t get with all of these ideas to move CityDAO- why not just go do it then??
If it was a good, profitable idea (or even more then just a wish) then people would be lining up to join.
The reality is even if we deiced we wanted to move CityDAO you can’t just move 2m to some random country and wash our hands hoping it doesn’t end up with Hamas or ISIS or even Russia.
There’s a unique process in each country for foreign investment - which is what this would likely be considered.
The idea that’s durable, portable, decentralized and a unique value to citizens is the comradorie you get with citizenship from people all over the world. That was way worth what I paid for membership.