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0 pointsjosh26004y ago0 comments

To be clear, we want to get the coins into the hands of users so they can buy things with them. Doing so in a legally compliant fashion is non-trivial. Looking at what happened with key base and stellar, a simple airdrop to users of the system doesn’t necessarily result in utilization or economic development.

There are multiple different things to consider here: 1) regulatory, 2) economic system design, 3) usability, and 4) user-first commerce.

In short, it’s much more important for us to be correct than it is to move quickly. When all is said and done, users of MobileCoin will have obtained coins many ways: through giveaways, sales, and commerce activities. Making sure we do these things correctly is the only way the ecosystem will be able to operate long term.

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deft4y ago

This isn't addressing the parent comment at all. Does the trust plan to market dump coins on their users?

josh2600OP4y ago

I'm not sure what you mean by dump. MobileCoin plans to reinvest coin proceeds into the ecosystem to help foster economic development. We also plan to give away coins once we figure out how to do so in a regulatory-compliant fashion.

MobileCoin also needs some amount of money to operate, some of which will come from the sale of coins, but our balance sheet of coins is quite limited. We would prefer to minimize those sales as much as possible.

Does that answer your question?

thomashop4y ago

I think you need to lay out the plans much more concretely and have a proper plan for transparency.

The crypto world is full of scams and misinformation. Technical people are unlikely to trust the coin if transparency and oversight stay so vague.

Scanning through this discussion, quite a few red flags have been raised by users. I assume your intentions are good at the outset. But when the money comes rolling in, even the most pure plans can be corrupted.

matkoniecz4y ago

> I'm not sure what you mean by dump.

Sell your token at overinflated prices (in a similar way as other ICO scams) and funnel money into pockets of whoever is running this specific scam, with some minor amounts put toward claimed goals.

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