there are so so so so many landmines
Shit Punk Says
Oceans of Wisdom
19,158
matching drops
#1459158
2026-09-22 15:17
"what if we contribute but don't reach the line and we have paid and nothing happens"
otherwise people worry about going first
oh that is fun
I don’t know why being secretive I’ll just put my idea here lol
Long story short, for my final round of wine samples I’m considering releasing a meme card with art. Anyone that buys will be able to redeem a case for themselves, and send a case to someone else in the 6529 network.
i will do a custom run of labels for that first run, and all funds will be used for sending bottles to people in the network. I will register the business as a profile on the network and have the 20 cards left there to grow tdh
otherwise people worry about going first
for larger amounts it needs some type of escrow mechanic in that it triggers only when a hurdles is met within a time frame I think
for the current project we long debated but it can't be done just with meme card due to specific constraints that restrict the total funding a meme card can provide... but found a way to integrate a meme card into the larger project for sure.
tax wise that there might be some IRS improvements coming
i think there is an interesting question about "the rest"
yeah along these lines
You had a whole mechanism for this you sketched out in Discord a few years ago - any major changes?
I could find it but it was the “allocation of revenue proportional to TDH“ method
whaddup
whatup punku
and then we expand from there
is to make sure that the people who do the day to day important work (e.g. development) are paid
the big question, risk post decentralization
lol
numer 3 is only satisfied if you are full degen
yes
Do you think it’s a good idea to start proposing ideas/activities/experiments as Meme Card submissions?
mostly we should aim to fail test #4
it is the most powerful one to fail
The **Howey Test** is the U.S. legal standard for determining whether a transaction qualifies as an **“investment contract”**—and therefore a **security**—under federal law. It comes from the 1946 Supreme Court case *SEC v. W.J. Howey Co.*
A transaction is an investment contract if it meets **all four prongs**:
1. **Investment of money** — participants contribute capital or something of value.
2. **In a common enterprise** — their fortunes are linked, either horizontally (with other investors) or vertically (with the promoter).
3. **With an expectation of profit** — investors expect returns.
4. **To be derived from the efforts of others** — profits depend primarily on the managerial or entrepreneurial work of someone else, not the investor.
If all four criteria are satisfied, the offering is a security subject to SEC regulation.
The test is deliberately broad: courts look at the **economic reality** rather than the label. It’s the framework the SEC applies to digital assets, token offerings, and other modern instruments when deciding if they fall under securities law.
there is no real basis for it to be a security
once the company is out of the way
i think it is doable
We were brainstorming at the bar after Hexum’s thread, sketching practical ways to make this happen while avoiding legal/security headaches.
i would not worry about the haters
more ambitious things
we should just do things
but this is inevitable
and you can explain until I am blue in the face
etc etc
it is a cabal
why does xyz get 10M TDH votes and I only get 10
that this is going to be read that way
it is inevitable
ok well maybe
Based on recent feedback, it seems many people still view Brain as just another club striving for exclusivity.
i think we can do it without creating a security
Totally get that, and I agree that avoiding privileged entities is essential if we want to stay true to the ethos of decentralization.
The thought behind the foundation idea wasn’t to centralize execution, but to explore how to make real-world coordination legally feasible without accidentally creating a security. Foundations could serve as transparent conduits for donations or implementation, while the real decision-making and curation stay fully decentralized.
no, not on holidays; just has been very busy I think. i will ping him
Speaking of doing things... @[punk6529] do you know if 6529er is on holidays? trying to get ahold of him... and also dm'd you about it 🫣
no, this should happend deecentralized by ultimately the entity not having a privileged role
Punk, on this subject, given that The Memes operates as a legally established entity that pays taxes and so forth, have you ever considered donating part of the meme cards revenue to foundations that could implement and carry forward community-curated projects, initiatives selected by the network that could create real, tangible benefits for people in the physical world, and also by doing this benefit from tax deductions?
we start there
this is the theory
this is the beginning
good question - i definitely promised and need to write a network state thread
Do you think the xTDH features will be comprehensible without explaining the larger vision first? are you going to do the zk research in December and then the white paper and network prolly coming next year now?
so it never ends
optimal changes
and also as the app changes
i mean 'getting something launched' and 'getting something optimized' are different things
yeah
so kind of a mix between how well it runs and how much easier it makes things for the devs. Makes total sense 👌
shame we will all go to jail though for stealing the tweet
need an artist to do some kind of rendition of summer as Beatrix portray as Sandra Bullock in that movie with a blindfold on in a canoe on a lake.
nothing new under the software development sun on this topic
the classic situation
so it is the perpetual battle between paying down tech debt and doing new things
in that it is easier and faster to do things
and partially in developer quality of life
it shows up partially in performance
to more efficient ways
migrated a lot of stuff from less efficient ways to do things