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This sounds like owning voting shares in a traditional LLC but with extra steps. Especially (4) where an awkward USD->crypto->USD transaction has to happen inst
by AlexandrB 5y ago
This sounds like owning voting shares in a traditional LLC but with extra steps. Especially (4) where an awkward USD->crypto->USD transaction has to happen instead of the LLC just paying a dividend.
The novelty seems in 1 & 2 being open to everyone. But one could argue that this is just unwinding the last 150 years of financial regulation and will lead to the same kind of scams and instability that this regulation was meant to curb.
- jedberg 5y agoPart 4 is only necessary because there isn't good infrastructure for working directly in crypto. I can see a future where say a food vendor could take the crypto tokens directly so that you don't have to convert to USD, and a future where the rent is paid in tokens. And you're right there is a danger about unwinding financial regulation, some of which is there for good reason. Which is why I think it only works because the LLC is still subject to US law.
- MaknMoreGtnLess 5y ago> Part 4 is only necessary because there isn't good infrastructure for working directly in crypto > Overall it's been a positive experience so far, and I'm making good returns (about 9% annual return on my cash). Just to be sure - both of these that you said are concurrently true?
- jedberg 5y agoYes, I have actually taken money back out to test it, and it is running at a 9% annual return rate in USD (and I put in USD to get the tokens to start).