I'm looking to find out about the legalities of forum currencies (like fg), what is possible, what isn't, general formats/web languages used, how I would link a paypal to it and automate it, ect, how much it would cost to set up, ect.

Paying fg for decent responses to any of the above. Paying fg for detailed pm's with information, and people willing to chat about it.

If you are knowledgeable in this topic, or know where I can find more info please pm me.

50 fg to the first person that can pm me details about what is legal and what isn't with forum currencies (with citations)


edit: more fg for more assistance

This post was edited by Blankey on Sep 20 2013 06:51pm

why dont you explain what you're thinking about doing? forum "currency" isn't legal currency (eg: they can't buy groceries at the store with your currency), so you can do whatever you want with it.

Could i sell a forum currency via donations (similar to how d2jsp does it), but the difference is I would exchange money for the currency back (minus 5% or so).



Essentially I'm asking the equivalent of if it would be legal for d2jsp (the website/business) to offer money to purchase fg back, minus a percentage. So they pay 95% of the value of what they sold it for.

Sure, what makes you think you can't?

chesscube has it where you can purchase crowns and they can also give you money back for them

http://www.chesscube.com/forum/viewtopic.php?f=12&t=34

you can always give money back. but keep in mind the donations you receive are likely taxable, so you can lose money with that ratio. and money they receive is again taxable. i think people are allowed to receive 20k or so in gifts/donations before they have to pay taxes, but i dont recall. you can find that in the IRS

This post was edited by carteblanche on Sep 20 2013 07:25pm

Interesting, can you give me any more information about similarly traded currencies? Thanks for the response. Sent half, expecting more info.

You need to talk to a lawyer. None of us are lawyers. Take from that what you will.

I'd agree, but that doesn't mean I can't find information on my own, and interpret it on my own (legally or otherwise). I'd love to have an idea about what I'm talking about before I spend multiple hundreds of dollars per hour talking to a lawyer.

I see, so I wouldn't just get taxed on the 5% (realized profit?) I would gain through the system/business? I would get taxed at multiple levels here?


Definitely a necessary thing to know.

There are no laws against/for forum currency

in fact, bitcoins is starting to be recognized as a legal currency, I would say still a far ways away, but a currency

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