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Proposal: Legal Part II (Oct)

Discussion in 'Pre + Budget Proposal Discussions' started by Ryan Taylor, Sep 24, 2016.

  1. Ryan Taylor

    Ryan Taylor Well-known Member
    Dash Core Team Foundation Member

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    This is a cross-post from www.dashcentral.org/p/legal-201610

    This proposal is simply to complete the second half of the required funding for the working being conducted by the PIllsbury law firm. If you are not familiar, the original proposal with additional details can be found here: https://www.dash.org/forum/threads/proposal-legal-sept.10457/

    After the initial approval, we have signed an engagement letter with Pillsbury and the initial retainer has been funded. The legal work should begin within the next week or two. The total cost estimate ranges from $35,000 to $45,000, and the first $20,000 has been committed thus far. We will therefore need approximately another $20,000 to complete the project, which this proposal will fund.

    The first set of questions we are in the midst of addressing consists of the following on masternode investing and liabilities, and exchange liabilities for regulated fiat exchanges:

    1) Legal opinion on the treatment of masternode block rewards under the Internal Revenue Code
    a. Whether they are treated similarly to mining rewards, interest, or other tax treatment
    b. Tax treatment of the initial collateral “investment”

    2) Liability of masternode owners for the transactions they facilitate
    a. Whether masternode owners may be responsible for criminal activities connected with transactions they facilitate
    b. If so, under what circumstances
    c. Whether participation in “mixing” services might give rise to criminal liability
    d. If so, under what circumstances

    3) Liability of exchanges that support Dash transactions and guidelines on meeting existing compliance
    a. Whether an exchange might be held liable for criminal activity associated with PrivateSend transactions and under what circumstances

    Requested funding is as follows for the October 5th budget cycle:
    Total: 1733.46 Dash

    Note: Any unused budget will be applied toward other legal expenses

    Manually vote YES on this proposal:
    dash-cli mnbudget vote-many 3ab25fa3e7e2b804245048069d1319ca2b66eae6e1f9d3901eb25e29102e1c5e yes
    OR from the qt console:
    mnbudget vote-many 3ab25fa3e7e2b804245048069d1319ca2b66eae6e1f9d3901eb25e29102e1c5e yes

    Manually vote NO on this proposal:
    dash-cli mnbudget vote-many 3ab25fa3e7e2b804245048069d1319ca2b66eae6e1f9d3901eb25e29102e1c5e no
    OR from the qt console:
    mnbudget vote-many 3ab25fa3e7e2b804245048069d1319ca2b66eae6e1f9d3901eb25e29102e1c5e no
     
    • Like Like x 2
    • Agree Agree x 1
    • Informative Informative x 1
  2. TheDashGuy

    TheDashGuy Well-known Member

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    So what happens when the lawyers see this:
    c. Whether participation in “mixing” services might give rise to criminal liability

    and respond with, yes?
    What then? Kill privatesend? Because, lawyers?
     
  3. GrandMasterDash

    GrandMasterDash Well-known Member
    Masternode Owner/Operator

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  4. mastermined

    mastermined Active Member
    Masternode Owner/Operator

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    can't this wait till next month? there are so many good proposals this could bump out.
     
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  5. BolehVPN

    BolehVPN Active Member

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    My gut feels that this is rather high but I trust that due diligence has been made:

    Is this a fixed fee arrangement or will it be supported by their timesheets with an hourly rate with perhaps a fee cap?
    Have other firms been approached with the same scope and requested for a quote? Which firms?
    Is the full scope based on the above questions?

    I understand that all the nitty gritty can't always be totally shared but here I think these are relevant considerations that masternode owners needed to have considered in determining whether the fee is fair and whether due diligence has been made in selecting the provider.

    This may have passed but yeah I would still want to know regardless especially being a lawyer myself.
     
    • Like Like x 1
  6. Miner237

    Miner237 Well-known Member
    Foundation Member

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    Hello are the legal reports that were funded back September and October available for review ?
     
    • Optimistic Optimistic x 1
  7. camosoul

    camosoul Well-known Member

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    "but I trust"

    The sensation of a violent 18 month buttsex session should have made you stop doing that by now... MNOs are either fantastically stupid, or the most insatiable masochists ever to exist...

    I've never seen a budget so flagrantly abused and squandered in my life. Good thing the only consequence is making DASH look so stupid nobody wants to touch it...
     
  8. demo

    demo Well-known Member

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    Dash Address:
    XnpT2YQaYpyh7F9twM6EtDMn1TCDCEEgNX
    Welcome to Timocracy.
     
    #8 demo, Dec 18, 2016
    Last edited: Dec 18, 2016

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