Hey Piotr, what's your plan should the exchange go down?
Good to hear from you. My answer might be "I'll drive to Vilnius and help to fix it, it's only a couple of hours away"
Every time a share is sold, I update the table of shareholders both on my computer (plus twice a week on two separate external drives as well) and on paper. The table contains the username, email and number of shares. There is also the withdrawal address assigned to each user, but this is provided by the platform therefore not very useful in case of a malfunction. I was considering introducing three additional levels of security (to set up a personal withdrawal address and prove the ownership; GPG for confirmation of conversation; one more level, not to be mentioned here ), as email on its own can't be a reliable identification factor. Those steps would be voluntary, some people are more security-eager (I am), some are less. On my part I've set up a reliable dead man's switch, things happen...
I'm happy that you mentioned the topic, Turbooster. Now, if the platform goes down permanently, we have the option to distribute the funds or to continue operation through other means- more methods are flourishing, that would be suitable for my operation, what I basically need is the option to pay dividends. Among all of the solutions that I researched, not all of those that allow issuing shares have the function of paying dividends. I chose Litecoininvest because they have this option, and for reasons that I've mentioned in the contract description.
As the crypto-currency world is developing, new possibilities are created, and despite how much I like working with Neil and the Litecoininvest team, I'm looking into new solutions for the next steps of operation. From my perspective issuing my own tokens/coins in a direct manner would be safer for the shareholders. Swarm, Koinify or Lighthouse (this one needs more research on my part) seem like reasonable options.
As you know, the Land Fund is just a beginning, just a small step on the path to a greater cause, i.e. allowing a quick transition of funds directly from your Bitcoin/Litecoin wallet to our trading service, with an instant withdrawal if you need the funds. This way if you're holding altcoins, you might as well transfer them for trading and earn on it.
The plans are big, the pace at Litecoininvest is slow:) but this gave me time to set up ground for the future operations. Most importantly, I've reached out to competent people from the sphere of crypto-currencies (technical side), managers/business consultants, former bankers, social-media marketing experts, who would create an efficient and competent team.
This is why there will be some changes in the contract. Litecoininvest is great, but I chose a niche in the niche, and now I need to reach out, but before I do that, I'd like to reach a milestone on the platform. Initially I've put 5000 shares for sale, and this is what I'd like to reach. Probably I will not put more shares for sale in exchange for LTC (I may consider putting an additional number when Litecoininvest launches their BTC trading platform, but this will be a comparable number, just to allow investors the opportunity of buying shares for BTC). If the current shareholders will agree, I will use the remaining portions of land to back up the security on a different medium (probably my own tokens/coins). I will not "multiply" the land:) I'll just deduce the number of land assigned to Litecoininvest shares. Additionally, on Litecoininves I'm only using one portion of land out of the two owned, so there is room for further action.
If you have any suggestions about procedures in case of exchange problems, I'd be grateful to listen.