The parent is doing an ICO for an escort service, if I was to say do an ICO for an assassination service would the people who invested be in anyway liable? Is it legal to raise funds for an expressly illegal purpose?
It is not for tax evasion: we fully intend to comply with tax law everywhere we offer service, though there are some practical issues. We chose EJC vehicle due to worldwide laws on sex work and unregulated securities. For example: In the U.S. mere advertising sites run the risk of legal persecution. How much more so for a full escorting platform?
If you run with people's money, you will discourage anyone else from attempting this. But if you're genuine, then this could be the start of a unique kind of model.
Best of luck, assuming you're honest.
I have no opinion on your specific company. It's more interesting that you're using ICOs to fund your operation, and that you seem to have a chance of succeeding.
One tip, though. Be prepared for unfair behavior. If LEA decides to contact the NSA to help track you down, they can probably figure out some way to trip you up.
Also, it's probably important to show some kind of hard progress. Hopefully you'll release something soonish.
Where is your money kept? Pretty sure that country has legal jurisdiction over your company.
A smart contract / contingency procedures sound great but aren't bulletproof. When people are threatened with jail or losing everything they tend to cooperate.
Escorts spend a huge amount of time (up to 70% or more) doing non-billable work. We aim to cut that time down significantly, while making things smoother for everyone involved.
If Bulletproofs and the new CT format come in and the mandatory ringsize is increased to a level providing some privacy, the fees would be very worthwhile. But with ringsize 5 they are certainly excessive! We should hope they increase to at least 10. After ringsize, the difference between 1/2 and 2/2 txn continues to be an issue.
Or at a minimum a wallet update could fix some of these things issues. Better ring member selection that does not include odd ring sizes or in/out numbers.
If you are a seller and receive 2 payments from a user then you send that money to a known place (maybe exchange) you have are now near 100% traceability! This is because even with high-ring-size, the chance of both known-bad inputs happening in one tx is very low.
Currently Monero is doing a great harm to users by not having a prominent warning. Monero should adopt Tor Project attitude and tell users: Making a Monero transaction does not give you full privacy. Then link to a bit more nuanced discussion about churn and traceability. Especially for people that receive multiple payments! Monero may encourage people to rely solely on Monero (without churn) for privacy, to their downfall.
And even churn has a big disclaimer from MRL. They say in some <vague> conditions churn is statistically detectable. Maybe a big issue for dark net vendors that often receive payments then churn then send to their exchange...
Disclaimer: I am running an extrajursidictional company and dealing with payments will become a major focus as we start to pay out dividends and need to do so in an untraceable fashion. Plus...in a few months I will need to draw salary so this is very near-and-dear to my heart!