Witness Update
This is my reply to @jerrybanfield's post https://busy.org/witness-category/@jerrybanfield/100-steem-for-witnesses-below-rank-80.
Server Specs
So for my server I have 32 GB's of ram, 4 TB's of HHD's, and an Xeon E3 (4 Core/8 Thread). For those who don't understand that it means it's capable of running steem's node for awhile. I'm renting one from @privex. The reason I don't have a backup or the SSD version is because honestly I don't have enough. But I started pulling from my Steem Power so I could pay for the upcoming payment. But if I get the 100 Steem from @budgets I will have enough to pay for a backup and an SSD version for awhile.
Somethings I've Done
I have contributed to busy.org a few times. I've had a witness server for a while. I've also created SteemTimer, but that hasn't been upgraded in awhile sadly. I've even done a small series on Graphic Design. I would do more but school's been busy. I also publish price feeds every half hour.
Thoughts On The Development Of Steem
I love steem. And thank all contributors to the continual effort to keep it alive. (Hint: people who upvote and post are contributors too). As a programmer I know sometimes projects cost a lot and take awhile to make/get traction. I believe Steem is getting better everyday. Especially with semi-new frontends like the dSites and the upgrades to busy.org (My favorite frontend, please don't be mad). I believe Steem is the better version of Facebook!
The Future
I am going to continue to be a witness as long as I can! The 100 Steem would definitely help me continue. I also plan to continue to post helpful content. Also if any new ideas come up (programming ideas) I will work on them. (Programmer's block is a real thing).
If you want to vote for me for witness go to https://steemit.com/~witnesses and enter kennybll as a witness! 
Thank you to everyone who upvotes me, and votes me as witness! Kenny.
Usually I don’t recommend investing in a backup server unless/until you are at least in the top 50. As a backup witness, it isn’t a huge deal if you need to temporarily disable your witness from time to time. Not having a backup will help you to afford your primary for longer :)
Agreed!
So, I think it's important to make people aware of potential issues they will be faced with as users of the system you're proposing. Essentially I think you're proposing a system very similar to localbitcoins, but for altcoins and maybe with better reputation management (full disclosure, I've never used localbitcoins).
The big danger is that individual users, by repeatedly offering to sell or by crypto for money from the US or to US residents, will be considered to be money transmitters under fincen regulations. Probably the highest risk will be to US residents, since they are the most likely subject to an attempted prosecution.
There's already cases of this type, here's some related links I found on a quick search of the topic:
https://www.coindesk.com/localbitcoins-trader-pleads-guilty-money-transmitter-charge/
https://localbitcoins.com/forums/#!/general-discussion#money-transmitter-licenses
Please understand, I'm not a fan of any of the above, and I don't like to be the bearer of bad news, but I think it's important that people understand the risks for a legal entanglement.
Thank you very much Kenny for keeping us updated and requesting funding to help cover your server costs! I just the 100 Steem from @budgets and I agree with @timcliff that the expense of a backup server is most logical for being in the top 50 witnesses. When we expect to be there, we can of course get it ahead of time! I got my backup server after I was voted into the top 50.