[readerfeeder]

> The only thing you can't do with the code is sell a hosted version of it

That is a restriction to the *Freedom 0* : The freedom to use the program for any purpose

The purpose being to earn money by providing a hosted service using the software.

It also puts a limitation on *Freedom 1*: The freedom to study how the program works, and change it to make it do what you wish.

By preventing circumvention of licence key functionality.

That said, I believe those are reasonable restrictions. Any freedom without some limitations in how you can use them is unsustainable in the long run.

I am also considering Elastic Licence v2 for future software that may be monetised. But I would call it source available[1], and not free / open source to avoid confusion.

[1]: https://en.wikipedia.org/wiki/Source-available_software),