Ethereum discloses the state of its Finances September 28th 2015
A damning report about the state of Ethereums finances is circulating today after Ethers creator Vitalik Buterin revealed new information about the state of finances at the open source project.
The Coindesk report can be found at coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/
The original blog post blog.ethereum.org/2015/09/28/the-evolution-of-ethereum/
Important points to note:
1. The projects current funding is down nearly 9 million dollars from its massive crowdsale of Ether ""It is indeed true that the foundation’s finances are limited, and a large part of this was the result of our failure to sell nearly as much of our BTC holdings as we were planning to before the price dropped to $220; as a result, we suffered roughly 9m in lost potential capital." Vitalik Buterin
2. The repercussions of this lack of funding on the project will severely hurt its chances of ever being completed, already they have begun cutting positions from their team. When asked about the foundation's hiring plans, Buterin told CoinDesk the group had "already cut some, and [was] cutting some [more personnel] soon."
3. Buterin went on to suggest that the Ethereum Foundation and its subsidiaries "do not have the manpower" to complete the current vision of the project.
If you would like to short ether with 5 x leverage please use my referral link to the exchange Bitmex bitmex.com/register/MY6NFj
For more info on the flailing state of Ether be sure to check out my previous Ideas.
The Coindesk report can be found at coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/
The original blog post blog.ethereum.org/2015/09/28/the-evolution-of-ethereum/
Important points to note:
1. The projects current funding is down nearly 9 million dollars from its massive crowdsale of Ether ""It is indeed true that the foundation’s finances are limited, and a large part of this was the result of our failure to sell nearly as much of our BTC holdings as we were planning to before the price dropped to $220; as a result, we suffered roughly 9m in lost potential capital." Vitalik Buterin
2. The repercussions of this lack of funding on the project will severely hurt its chances of ever being completed, already they have begun cutting positions from their team. When asked about the foundation's hiring plans, Buterin told CoinDesk the group had "already cut some, and [was] cutting some [more personnel] soon."
3. Buterin went on to suggest that the Ethereum Foundation and its subsidiaries "do not have the manpower" to complete the current vision of the project.
If you would like to short ether with 5 x leverage please use my referral link to the exchange Bitmex bitmex.com/register/MY6NFj
For more info on the flailing state of Ether be sure to check out my previous Ideas.
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