BSV USA Associationin formation

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Decisions

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No.DecisionFor
Start here: what this site is and how to use it3 · Start
D1Does the help you are offered above fit your time? Cross out anything that does not.Everyone
D2Is there a document we should have written and did not?Everyone
D3Is anything here unsafe to leave public? Say so and it comes down the same day.Everyone
Articles of Incorporation, State Choice and Post-Filing Checklist15 · Formation
D1State. BSV Esq., do you agree with Missouri? If not, which state, and why?BSV Esq.
D2Name. Is "BSV USA Association" the name we file? The Oct 9 analysis suggested a name without "BSV" because of the Vanguard ticker overlap and brand questions. Should we search name availability and any trademark issue before filing?BSV Esq., GloboSphere
D3Line of business. Does the purposes clause in Article 8 describe a "line of business" the IRS will accept, rather than the promotion of one product? Should it be wider, for example businesses building on public blockchains that follow the original Bitcoin protocol, with BSV named as the main one?BSV Esq., GloboSphere
D4Mutual or public benefit. Should dissolution allow a 501(c)(6) recipient (mutual benefit) or only 501(c)(3) recipients (public benefit)? Which reads better to a US institution doing diligence?BSV Esq., GloboSphere
D5Initial directors. Who are directors 2 and 3? Do they consent to being named in a public filing? Should any initial director be independent of the founders?BSV Esq., GloboSphere
D6Political activity. Do we keep the total ban on campaign activity in Article 10(c), or follow the narrower federal limit?BSV Esq., GloboSphere
D7No-litigation clause. Does Article 10(e) belong in the charter, in the bylaws, or in a board policy? Is the wording too broad or too narrow?BSV Esq., GloboSphere
D8Supermajority. Do we keep the two-thirds rule in Article 15 for changes to purposes, dissolution and limits on activities?BSV Esq., GloboSphere
D9Liability. Is Article 12 the right way to limit director liability under Missouri law? Do we need directors and officers insurance before we file?BSV Esq., GloboSphere
D10Registered agent. Who serves as registered agent in Missouri, at what street address? Is a paid agent worth the cost, or can a volunteer serve?BSV Esq., GloboSphere
D11Incorporator. John signs as incorporator. Is anything else needed from him, such as a resolution handing control to the board?BSV Esq., GloboSphere
D12Filing method and time. Can Missouri nonprofit articles be filed online, and how long does the office take now?BSV Esq., GloboSphere
D13Timing of Form 1024. Do we file soon after formation, or first adopt bylaws, policies and a budget and run for a few months so the application has a real record?BSV Esq., GloboSphere
D14Other states. Where will the Association have its principal office, and which other states must it register in?BSV Esq., GloboSphere
D15Missouri tax items. OldCraig, which Missouri tax or registration steps apply to a 501(c)(6) with dues income?OldCraig
Bylaws of the BSV USA Association54 · Formation
D1Which state should the Association incorporate in? (Earlier analysis suggested Florida.) Does that state's nonprofit statute allow everything here, including electronic and secret ballots, members acting by electronic ballot without a meeting, and Board Members acting by electronic consent?BSV Esq., GloboSphere, Nancy, John
D2Is "BSV USA Association" the legal name, or should the legal name differ from the public name?BSV Esq., GloboSphere, Nancy, John
D3Is it workable to call the chief executive "Director" and the board seats "Board Members," or should the title become "Executive Director"?BSV Esq., GloboSphere, Nancy, John
D4Should the Director be a voting member of the board (Section 4.2)?BSV Esq., GloboSphere, Nancy, John
D5Should board seats and offices be limited to US citizens or residents (Sections 2.1 and 4.3)?BSV Esq., GloboSphere, Nancy, John
D6Can a Business Member's representative also be a Voting Member, or is that a back door to extra influence (Section 2.2(c))?BSV Esq., GloboSphere, Nancy, John
D7How should full identity verification work: the Committee reviewing documents in confidence, or a third-party provider? What do we keep, and when do we delete it (Sections 2.4(b) and 9.5)?BSV Esq., GloboSphere, Nancy, John
D8X is the only identity platform named. Should members be able to verify another way if they have no X account or lose it?BSV Esq., GloboSphere, Nancy, John
D9What should the dues cap be for individuals and for Business Members? Should General membership be free (Section 2.5)?BSV Esq., GloboSphere, Nancy, John
D10How many days' notice before nonpayment moves a member to inactive status (Section 2.5)?BSV Esq., GloboSphere, Nancy, John
D11How long do Voting Members have to complete annual confirmation (Section 2.7)?BSV Esq., GloboSphere, Nancy, John
D12What are the response, appeal and interim suspension periods in Section 2.8: 15, 30 and 45 days?BSV Esq., GloboSphere, Nancy, John
D13Is an Appeals Panel drawn by lot from Voting Members the right independent appeal, or should it be an outside person?BSV Esq., GloboSphere, Nancy, John
D14Which month for the annual meeting (Section 3.1)?BSV Esq., GloboSphere, Nancy, John
D15What share of Voting Members can call a special meeting: 10 percent (Section 3.2)?BSV Esq., GloboSphere, Nancy, John
D16Should recorded X Spaces count as meetings of members when no vote is taken (Section 3.3)?BSV Esq., GloboSphere, Nancy, John
D17What notice periods: 14 to 60 days for meetings, 30 days for amendments and dissolution (Section 3.4)?BSV Esq., GloboSphere, Nancy, John
D18What record date window: up to 60 days (Section 3.5)?BSV Esq., GloboSphere, Nancy, John
D19What quorum for ordinary votes (10 percent) and for Supermajority votes (33 percent) (Section 3.6)?BSV Esq., GloboSphere, Nancy, John
D20Should ballots be secret with a verifiable receipt, or open and signed (Section 3.7(c))?BSV Esq., GloboSphere, Nancy, John
D21How long should a ballot stay open (7 days) and how soon must results be Anchored (3 days) (Section 3.7)?BSV Esq., GloboSphere, Nancy, John
D22How many inspectors per vote: two (Section 3.10)?BSV Esq., GloboSphere, Nancy, John
D23What Lock amount and term should the board set for the first election? Should the bylaws set a floor or a ceiling (Section 4.3(5))?BSV Esq., GloboSphere, Nancy, John
D24How long before an election must the Lock terms be fixed: 90 days (Section 4.3(5))?BSV Esq., GloboSphere, Nancy, John
D25Should there be term limits, such as three consecutive terms (Section 4.4)?BSV Esq., GloboSphere, Nancy, John
D26Should no more than two Board Members come from the same organization (Section 4.4)?BSV Esq., GloboSphere, Nancy, John
D27Should elections use plurality voting for open seats, or another method? How are ties broken (Section 4.5(c))?BSV Esq., GloboSphere, Nancy, John
D28What election timeline: call 45 days before, candidate list 21 days before voting (Section 4.5)?BSV Esq., GloboSphere, Nancy, John
D29How soon after the Registry is in service must the first election happen: six months (Section 4.6)?BSV Esq., GloboSphere, Nancy, John
D30What vote removes a Board Member: two-thirds of members, two-thirds of the board (Section 4.8)? How many missed meetings count?BSV Esq., GloboSphere, Nancy, John
D31How often should the board meet: monthly the first year, then quarterly? How many Board Members can call a special meeting, and on what notice (Section 4.10)?BSV Esq., GloboSphere, Nancy, John
D32Should board action without a meeting need all Board Members, or a smaller share if state law allows (Section 4.12)?BSV Esq., GloboSphere, Nancy, John
D33One-year officer terms (Section 5.3)?BSV Esq., GloboSphere, Nancy, John
D34Must officers be Voting Members during the transition, when there are none yet (Section 5.2)?BSV Esq., GloboSphere, Nancy, John
D35Is the Founding Advisor role scoped correctly, and should it be indemnified (Sections 5.7 and 10.4)?BSV Esq., GloboSphere, Nancy, John
D36During the transition, may the Governance and Review Committee be filled by fully verified General Members (Section 6.4(a))?BSV Esq., GloboSphere, Nancy, John
D37What term for elected Committee members: two years (Section 6.4(d))?BSV Esq., GloboSphere, Nancy, John
D38Fiscal year: calendar year (Section 7.1)?BSV Esq., GloboSphere, Nancy, John
D39What budget overrun needs a board vote: 10 percent per category (Section 7.2)?BSV Esq., GloboSphere, Nancy, John
D40Monthly statement deadline: 15 days (Section 7.3)?BSV Esq., GloboSphere, Nancy, John
D41Two-signature threshold: $1,000 (Section 7.4)?BSV Esq., GloboSphere, Nancy, John
D42How should any digital assets the Association owns be controlled: two-of-three multi-signature (Section 7.4)?BSV Esq., GloboSphere, Nancy, John
D43Donation cap: $25,000 or 20 percent of prior-year revenue, whichever is greater? Should larger gifts be allowed with a published board vote and no conditions (Section 7.5(a))?BSV Esq., GloboSphere, Nancy, John
D44Anonymous donation ceiling ($250) and the threshold for naming donors ($1,000) (Section 7.5(b))?BSV Esq., GloboSphere, Nancy, John
D45At what revenue level should an independent review or audit start: $100,000 (Section 7.7)?BSV Esq., GloboSphere, Nancy, John
D46Is the carve-out in Section 8.2 (self-defense, lawful process, regulator complaints) right, or too broad?BSV Esq., GloboSphere, Nancy, John
D47Is the wording of Section 8.5 on automated agents clear enough to follow in practice?BSV Esq., GloboSphere, Nancy, John
D48Minutes deadline: 7 days for drafts (Section 9.1)?BSV Esq., GloboSphere, Nancy, John
D49Is logging exchange and custodian contacts in the claims ledger acceptable to those firms, with the confidential option (Section 9.3)?BSV Esq., GloboSphere, Nancy, John
D50Should identity documents be deleted after verification, or kept for a set period (Section 9.5)?BSV Esq., GloboSphere, Nancy, John
D51What share of Voting Members can propose an amendment (5 percent) or petition for dissolution (10 percent) (Sections 11.1 and 12.1)?BSV Esq., GloboSphere, Nancy, John
D52Is directors and officers insurance a day-one cost or a later one (Section 10.3)?BSV Esq., GloboSphere, Nancy, John
D53What is the deadline to hold the first election if the Registry is not ready: nine months (Section 13.2)?BSV Esq., GloboSphere, Nancy, John
D54Should the bylaws name the initial Director, or leave it to the first board's resolution (Section 13.3)?BSV Esq., GloboSphere, Nancy, John
Antitrust Policy10 · Formation
D1Is the list of forbidden topics in section 3 complete for a group that includes exchanges, miners and custodians? Should mining (hashrate allocation, pool fees, block-size or fee policies set by miners) get its own subsection?BSV Esq., GloboSphere
D2Should the ban on "coordinated pressure campaigns" be narrower, so it does not chill lawful petitioning or honest demand counting? Where exactly should the line sit between counting demand and organizing pressure?BSV Esq., GloboSphere
D3Should the BSV trading and price item stay in this policy, or move to a separate market-conduct or securities policy?BSV Esq., GloboSphere
D4Which counsel will attend meetings on request, and who pays if outside counsel is needed? Can a volunteer attorney serve in that role, or do we need counsel admitted in the state of formation?BSV Esq., GloboSphere
D5Do we need a separate standards-development policy, or is section 4 enough for now?BSV Esq., GloboSphere
D6How should we handle the antitrust reminder in a live X Space, where listeners join late? Is a pinned post enough?BSV Esq., GloboSphere
D7Is the group-chat moderation rule (one warning, then removal) the right enforcement step, or should removal go to the board?BSV Esq., GloboSphere
D8Should the claims ledger's contact log be public, or kept internal and shown to counsel and the board only?BSV Esq., GloboSphere
D9Should this policy be adopted by the board at the organizational meeting, before any member recruitment or venue contact in the association's name?BSV Esq., GloboSphere
D10Which state's law should we check for state antitrust rules beyond the federal baseline, once the state of formation is chosen?BSV Esq., GloboSphere
Conflict of Interest Policy11 · Formation
D1What should the BSV holdings threshold be, and should it be a dollar amount, a coin amount, or a share of the person's net worth?BSV Esq., GloboSphere
D2Should the published summary of each director's interests name employers, or only categories?BSV Esq., GloboSphere
D3Does the recusal rule in section 5 (holding BSV alone is not a conflict) hold up for a 501(c)(6) whose purpose is to help one asset?BSV Esq., GloboSphere
D4Does the state we choose for formation let a conflicted director count toward quorum? What does its nonprofit statute require for interested-director transactions?BSV Esq., GloboSphere
D5Is written disclosure of the founder's identity to the board and counsel enough, or should one named officer or counsel hold the only record? How should that record be stored?BSV Esq., GloboSphere
D6Does the founder's employer need to approve the founder's role, and should the board require written confirmation that it has?BSV Esq., GloboSphere
D7If the board-seat BSV lock is adopted, what amount and duration are fair, and does public disclosure of lock transaction IDs create security or privacy risks for directors?BSV Esq., GloboSphere
D8Should paid advocates be barred from office entirely, or only required to disclose?BSV Esq., GloboSphere
D9Should the policy cover regular Space co-hosts and chat moderators, who are not officers but speak for the group?BSV Esq., GloboSphere
D10What gift limit is right, and should it apply to travel paid by exchanges or conference organizers?BSV Esq., GloboSphere
D11Who receives violation reports when the person accused is the Director or the founder?BSV Esq., GloboSphere
First-Year Budget and Finance Plan5 · Money
D1Are the filing fees the only real cash need in year one? What did we miss?OldCraig, Nancy, John
D2Should the association file Form 1024 in year one, or operate first and file once there is a record? (A 501(c)(6) is not required to file it, but the determination letter helps with institutional due diligence.)OldCraig, Nancy, John
D3How should John's in-kind technology be booked and disclosed, if at all?OldCraig, Nancy, John
D4Are a $5,000 per-donor cap, a 20% concentration limit and a $250 anonymous line right for a year where donations are optional and small?OldCraig, Nancy, John
D5Who should be Treasurer? Should the CPA reviewer stay independent of that role?OldCraig, Nancy, John
Membership Registry and Voting System15 · Membership
D1Should the association be a formal nonprofit corporation, and if so in which state? State nonprofit law may set rules on member voting, records, and ballots that this design must follow. (GloboSphere)GloboSphere
D2Does an open, signed ballot for board elections meet the law of that state, or must director elections be secret? (GloboSphere)GloboSphere
D3Is it lawful and wise to keep legal names for voting members only? Do we need any ID check beyond a name? (GloboSphere, BSV Esq.)BSV Esq., GloboSphere
D4Does anything in the lock design, the badge, or director eligibility create a securities, money transmission, or custody question? (GloboSphere, BSV Esq.)BSV Esq., GloboSphere
D5What minimum lock amount and remaining time should a director candidate need? Should there be a lock at all, or only disclosure? (Organizers)Nancy, John
D6Should third-party coins be allowed in a candidate's lock if disclosed, or barred outright? (Organizers)Nancy, John
D7What related-party cap should apply to the board? (Organizers)Nancy, John
D8What account age and activity thresholds should the bylaws publish? What other proofs replace an X account? (Organizers)Nancy, John
D9Which votes must be secret, and who serves as the independent inspector? (Organizers, GloboSphere)GloboSphere, Nancy, John
D10Who serves on the founding Governance and Review Committee, and when does its term end? (Organizers)Nancy, John
D11Who is the Secretary, and who holds the anchor key? (Organizers)Nancy, John
D12No dues are proposed for year one. If members ever want dues, how do we make sure they never affect voting? (Organizers, GloboSphere)GloboSphere, Nancy, John
D13Should v0 run on manual code checks only, with X OAuth sign-in added later at John's cost if he chooses? (Organizers)Nancy, John
D14Should the first vote wait for anchoring (v3), or proceed after v1 with anchoring added later? (Organizers)Nancy, John
D15What data retention periods fit the law and our record-keeping duties? (GloboSphere)GloboSphere
Claims ledger9 · Market access
D1Will the organizers adopt the rule that nothing is said publicly until it sits in the data room with evidence?Gavin, Nancy, John
D2Do Nancy, John, and the proposed independent reviewer accept their maintenance and review roles?Gavin, Nancy, John
D3Which formation documents, signatures, funding records, and membership rules can now be supplied or publicly summarized?Gavin, Nancy, John
D4Who will authenticate the Stripe, Visa, tagged Fink-account, and Robinhood claims, and by what deadline?Gavin, Nancy, John
D5Which unsupported claims should Nancy expressly withdraw or correct, with what public wording?Gavin, Nancy, John
D6Who will retain qualified counsel and confirm that Gavin is described accurately?Gavin, Nancy, John
D7Do reviewers accept the weekly Space procedure and the proposed month-end cutoff?Gavin, Nancy, John
D8Who will hold the publishing authority, preserve snapshots, and approve any future BSV fee budget?Gavin, Nancy, John
D9Where will the public snapshots, evidence summaries, change log, and anchor receipts be hosted?Gavin, Nancy, John
Technical program for a US listing11 · Market access
D1Is the listening node's running cost one John wants to carry, and which figure does he disclose as his in-kind gift (section 4)?Gavin, Nancy, John
D2Do we start with the watcher tier and add full validation later, or go straight to M1?Gavin, Nancy, John
D3Where should the monitor's second and third observation points come from, and is anyone willing to host one?Gavin, Nancy, John
D4Who is the named backup to John for alerts and for "who answers the phone"?Gavin, Nancy, John
D5For the node package, do we start with Teranode, SV-node, or both?Gavin, Nancy, John
D6Should the reorg monitor and the confirmation guidance be public from day one, or shown to one exchange first?Gavin, Nancy, John
D7Where does the M2 UTXO snapshot come from, and should the association make that request?Gavin, Nancy, John
D8Do we want an independent technical reviewer for Document 1, and who would be credible to a US listing team?Gavin, Nancy, John
D9Do we archive the whole chain in R2 or stay pruned (John's cost, section 4)?Gavin, Nancy, John
D10What monthly ceiling triggers the fallback if chain volume, and the node's bill, rises?Gavin, Nancy, John
D11Is the conformance badge part of the association's packet, or does it stay John's own program that the packet cites?Gavin, Nancy, John
Confirmation-depth guidance9 · Market access
D1The tolerance R. Is one dollar of expected loss per deposit the right default, or should tiers use fixed probabilities instead?Gavin, John
D2The default q. Should q be the larger of the measured top-miner share and 30 percent, or should the floor be higher given section 2.5?Gavin, John
D3The 50 and 60 percent columns. These are policy, not formula. Are 144 and 288 blocks with caps defensible for the small tiers, or should we recommend a full halt at 50 percent and above?Gavin, John
D4Halt defaults. N = 2 blocks, T = 30 minutes, stale after 120 minutes, a 10-point share shift, 25 percent unknown share. Tune now or after the monitor has three months of data?Gavin, John
D5The hashrate figure. Replace the third-party 185 to 245 PH/s with the monitor's own estimate before this goes to any venue? We recommend yes.Gavin, John
D6The 2021 depth dispute. About 100 blocks (CoinDesk, citing a researcher) against 14 (Coin Metrics). Who checks this against block data, and by when?Gavin, John
D7The endpoint shape. Is the /api/confirmations request and response in section 5.3 what the monitor should build? Should it also accept a list of amounts in one call?Gavin, John
D8Independent reviewer. Who reviews the model and the tables before this is shown to any exchange? No one is appointed.Gavin, John
D9Publication. Does this go on the public site as a draft now, or only after the monitor has data and a reviewer has signed off?Gavin, John
Data room index9 · Market access
D1Do the organizers accept these six documents and the proposed owner assignments?BSV Esq., GloboSphere, Gavin, Nancy, John
D2What appointment and signing records will support John's Director role and Nancy's responsibilities?BSV Esq., GloboSphere, Gavin, Nancy, John
D3Which counsel will review documents 3 to 5, and what client, scope, and sharing terms should the engagement cover?BSV Esq., GloboSphere, Gavin, Nancy, John
D4Can the litigation paragraph be supported by records, and who may sign it?BSV Esq., GloboSphere, Gavin, Nancy, John
D5Which formation, funding, membership, and poll records can be supplied or publicly summarized?BSV Esq., GloboSphere, Gavin, Nancy, John
D6Who will independently review John's monitor, incident history, integration package, and deposit guidance?BSV Esq., GloboSphere, Gavin, Nancy, John
D7Which Fireblocks product and jurisdictions must be confirmed, and which custody provider can meet the receiving venue's needs?BSV Esq., GloboSphere, Gavin, Nancy, John
D8Do reviewers accept the counting method and the rule that agents count only and never message exchanges?BSV Esq., GloboSphere, Gavin, Nancy, John
D9What evidence closes each release gap, and which verified venue should receive the first completed packet?BSV Esq., GloboSphere, Gavin, Nancy, John
Memorandum of understanding: BSV USA and BSVA working group6 · Market access
D1Do the organizers approve this scope, named leadership and budget publication before outreach?Nancy, John
D2Will BSVA confirm Connor as liaison, and who may approve and sign for each side?Nancy, John
D3Who owns the first US deliverable, tracker and venue key, and when is the next update?Nancy, John
D4What name, relationship wording, information and public statements can each side clear?Nancy, John
D5Can both co-sign the no-rename and no-litigation wording, and by what review date?Nancy, John
D6What start and review dates, Space slot, guest and announcement permission can we confirm?Nancy, John
The BSV Association call, Wednesday October 142 · Market access
D1Is there a fifth ask the association should make of the BSV Association on this call?Gavin, Nancy, John
D2Should the MoU be sent before the call as well, or only after?Gavin, Nancy, John
Comment of the BSV USA Association (in formation) on GENIUS Act Regulations on Payment Stablecoin Issuance, Offer, and Sale8 · Public voice
D1File at all, and under what name? The association is "in formation." Do we file as the association, or as John individually on behalf of the organizers? (BSV Esq.)BSV Esq.
D2Entity status line. Should "Who we are" state plainly that no legal entity exists yet and no bylaws or officers have been adopted? We have not confirmed any formation step, so the draft makes no such claim either way.BSV Esq., GloboSphere, Nancy, John
D3Question 73. Support a de minimis safe harbor, oppose one, or stay silent?BSV Esq., GloboSphere, Nancy, John
D4Question 52 detail. Are we comfortable describing where lawful order functions "can live" on UTXO chains? Someone technical should confirm the wording before we offer documentation to Treasury.BSV Esq., GloboSphere, Nancy, John
D5Reorganization history. BSV had reorganization attacks in August 2021. Do we mention that history, and what changed since, to get ahead of it? Or do we leave it for the technical documentation?BSV Esq., GloboSphere, Nancy, John
D6Scope. Do we add a sentence that our positions also apply to the Federal Reserve's GENIUS Act proposals (Docket R-1899 and R-1900, comments due November 30, 2026), or save them for a separate comment?BSV Esq., GloboSphere, Nancy, John
D7Contact details. Treasury asks for name, organization, address, email, and telephone, all public. Which address and email go on the public record?BSV Esq., GloboSphere, Nancy, John
D8Signer and title. Confirm John signs as "Director." Confirm that no other person, including the host of the association's Spaces, is named.BSV Esq., GloboSphere, Nancy, John