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Title: Question about forum finances (again :P) Post by: redsn0w on October 04, 2018, 02:18:21 PM Hi theymos, every year the same question ;D.
Can we have an update about the current forum finances? Thanks. PS: I don't work for any government, don't worry. I'm just curious. Title: Re: Question about forum finances (again :P) Post by: mdayonliner on October 04, 2018, 02:21:23 PM Why are you giving headache to theymos. Don't you accounting gives him headache ;D
Title: Re: Question about forum finances (again :P) Post by: pugman on October 04, 2018, 02:39:14 PM I am damn curious too [not really], especially after the new type of "purchasable rank" aka Copper Membership has been introduced. Wonder if that helps the forum's finances or not. Also, is Slickage still being paid for the forum that's supposed to be released in, I don't know, 3018TM?
Title: Re: Question about forum finances (again :P) Post by: RocketSingh on October 04, 2018, 02:59:13 PM PS: I don't work for any government, don't worry. I'm just curious. But, what is stopping government agents to read this thread?Title: Re: Question about forum finances (again :P) Post by: eddie13 on October 04, 2018, 03:25:42 PM the new type of "purchasable rank" aka Copper Membership has been introduced. Wonder if that helps the forum's finances or not. From what I understand the forum has plenty of money BTC and is not motivated by making more money.. The money from copper purchases helps sure, but the amount it insignificant.. The charge for copper is a speedbump for scammers, not a revenue stream scheme.. Same with evil.. Title: Re: Question about forum finances (again :P) Post by: Little Mouse on October 04, 2018, 03:38:15 PM From what I understand the forum has plenty of money BTC and is not motivated by making more money.. True but this is now a part of forum's revenue. A financial manager will always count a signle cent :DThe money from copper purchases helps sure, but the amount it insignificant.. The charge for copper is a speedbump for scammers, not a revenue stream scheme.. Same with evil.. BTW, it is also not a small amount. AFAIK, total amount of copper membership is more than 3k till now. 3000*0.002= 6 BTC, is not a little amount. Title: Re: Question about forum finances (again :P) Post by: Steamtyme on October 04, 2018, 03:48:30 PM Not to sounds like a dick but what right do any of us have to ask about the forum finances ???
Apart from say donators, investors( not sure if there ever were any. Maybe some some of the staff depending on how the forum is structured. You would probably have a better chance if you were a government agency following proper procedures. Despite theymos's political views on government interference I have the impression he operates well within the legal requirements of the US. Title: Re: Question about forum finances (again :P) Post by: vphasitha01 on October 04, 2018, 04:22:24 PM True but this is now a part of forum's revenue. A financial manager will always count a signle cent :D LOL, 6BTC is not much when compared to the money receiving from the auctions every week for the advertising in the forum.BTW, it is also not a small amount. AFAIK, total amount of copper membership is more than 3k till now. 3000*0.002= 6 BTC, is not a little amount. BTW they have ~ OgNasty is currently holding 500BTC ($3.843.000) for the forum in this address (https://blockchain.info/address/1Eog8UqRFLufC71rBLt2nYgfUDskgxAyVF). There is also an auction to advertise in the forum every couple days (~1 week), which earns the forum a few BTC per round. Last round, it was 3BTC (for 1 week of advertising) They have money. Title: Re: Question about forum finances (again :P) Post by: eddie13 on October 04, 2018, 04:40:51 PM LOL, 6BTC is not much when compared to the money receiving from the auctions every week for the advertising in the forum. And even that is barely worth the headache.. I don't care about making money from the forum personally. (I've actually thought about getting rid of the forum ads, since it's often a big headache and the forum has enough reserves for a long time I don't care about traffic much; I just want there to be a good forum. Title: Re: Question about forum finances (again :P) Post by: |Admiral| on October 04, 2018, 04:52:22 PM Hi theymos, every year the same question ;D. theymos, receive adequate fund that's why he is not decreasing donation amount or not creating any new donation campaign. I have read somewhere where theymos mentioned that all is going well by selling ad space. In this case, I think we do not need to give headache to theymos. And also now a days there is a good return for copper membership.Can we have an update about the current forum finances? Thanks. PS: I don't work for any government, don't worry. I'm just curious. Title: Re: Question about forum finances (again :P) Post by: finaleshot2016 on October 04, 2018, 05:17:57 PM I'm little bit curious about it too since there are many accounts avail the subscription of being a Copper Member (even some of them are already high ranks) and many people donates for the development of the forum.
hmm you know dude, the membership here is open and we're having many benefits of staying in here so I think we shouldn't ask about the details of finances here as long as we're enjoying and experiencing the platform for infos. If there's a chance of releasing the finances and audit, It'll be another issue and most of us will question where does the funds go? ??? So even we're asking the same question every year, it'll remain the same. The only thing I'm sure is, the forum has a lot of funds. ;) Title: Re: Question about forum finances (again :P) Post by: btc-facebook on October 04, 2018, 05:21:59 PM When everything gone with transparent , it will bring the positive impact on the forum.
Not just for the admin but also all people around the forum ! 8) Title: Re: Question about forum finances (again :P) Post by: TasosRiv on October 04, 2018, 07:29:36 PM Guys... BTCT is not a public company... no one has any obligation to post their private earnings.
Would you go to a local café-bar and while drinking your coffee, ask them how much is their yearly income? Well if you're friends with them maybe, but otherwise that'd be totally weird. Title: Re: Question about forum finances (again :P) Post by: S_Therapist on October 04, 2018, 07:33:47 PM Guys... BTCT is not a public company. But it's a kinda family. Indeed, every forum is a kinda family for the meta users, at least. So, family member can have curiosity.Also, it's nothing new. OP already has mentioned it. Here is quote from last year- Hi theymos, Quoting the post of July 2016.I wanted to open this public thread just to ask you if it is possible to post the current forum finances. Basically a thread/update like this : https://bitcointalk.org/index.php?topic=780707.0 Thanks for the attention. Hi theymos, is still (or again) possible to know the forum finances updated to 2017 like the last time? Thanks. Title: Re: Question about forum finances (again :P) Post by: Piggy on October 04, 2018, 07:36:13 PM Guys... BTCT is not a public company... no one has any obligation to post their private earnings. Would you go to a local café-bar and while drinking your coffee, ask them how much is their yearly income? Well if you're friends with them maybe, but otherwise that'd be totally weird. Is not the first time the forum publish these kind of informations as you can see I'm behind on the accounting. 2015 is basically done, but I need to double-check it and apply the results of taxes (even when there's a net loss, there may be capital gain taxes). 2016 is still very incomplete: I've had to do half of the work in order to pay taxes, but I basically need to go through everything again to figure out forum balances. Sloppy, I know, but I've been disincentivized to spend many hours figuring it out exactly because the reserves so obviously exceed the expenses. There's currently about 1250 BTC(+BCH) in reserve. Keep in mind that if I make an accounting mistake, almost certainly the result of this will be that I pay forum expenses out of my own pocket accidentally. The income is almost all very obvious/public, and I have to list all of the expenses that I temporarily paid out of pocket in order to be repaid from the forum income or reserves. So it's very unlikely that I would take too much money. Here are approximate numbers. Code: 2015: Title: Re: Question about forum finances (again :P) Post by: markiz73 on October 04, 2018, 07:57:06 PM I do not like to count other people's finances, but I will take this opportunity to ask a question.
Now on the balance of the forum 272 Bitcoin + other reserve funds This is a very good capital. https://www.smartbit.com.au/address/17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9 Does the forum have a financial problem? Title: Re: Question about forum finances (again :P) Post by: vit05 on October 04, 2018, 08:04:42 PM Almost 2 million in savings at the original address (https://www.blockchain.com/btc/address/17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9). Perhaps, from now on, BitcoinTalk will be able to create its own endowment and compete with traditional institutions such as Harvard (https://www.harvard.edu/about-harvard/harvard-glance/endowment) and Stanford (https://smc.stanford.edu/). Financing researches, researchers and courses about Bitcoin. Unfortunately, all attempts so far by Bitcoin-related organizations have failed, but at some point, one can be successful in its way of organizing its governance.
It is unbelievable how a forum with such a simple layout is capable of creating such a productive environment where so much wealth circulates and it is distributed. Title: Re: Question about forum finances (again :P) Post by: TasosRiv on October 04, 2018, 08:17:16 PM Guys... BTCT is not a public company... no one has any obligation to post their private earnings. Would you go to a local café-bar and while drinking your coffee, ask them how much is their yearly income? Well if you're friends with them maybe, but otherwise that'd be totally weird. Is not the first time the forum publish these kind of informations as you can see I'm behind on the accounting. 2015 is basically done, but I need to double-check it and apply the results of taxes (even when there's a net loss, there may be capital gain taxes). 2016 is still very incomplete: I've had to do half of the work in order to pay taxes, but I basically need to go through everything again to figure out forum balances. Sloppy, I know, but I've been disincentivized to spend many hours figuring it out exactly because the reserves so obviously exceed the expenses. There's currently about 1250 BTC(+BCH) in reserve. Keep in mind that if I make an accounting mistake, almost certainly the result of this will be that I pay forum expenses out of my own pocket accidentally. The income is almost all very obvious/public, and I have to list all of the expenses that I temporarily paid out of pocket in order to be repaid from the forum income or reserves. So it's very unlikely that I would take too much money. Here are approximate numbers. Code: 2015: Ah I see, I didn't know that! Thanks! But I guess it's a bit early to ask for 2018, wouldn't the numbers be finalized on January 2019 the earliest? Title: Re: Question about forum finances (again :P) Post by: finaleshot2016 on October 04, 2018, 10:42:16 PM Almost 2 million in savings at the original address (https://www.blockchain.com/btc/address/17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9). Perhaps, from now on, BitcoinTalk will be able to create its own endowment and compete with traditional institutions such as Harvard (https://www.harvard.edu/about-harvard/harvard-glance/endowment) and Stanford (https://smc.stanford.edu/). Financing researches, researchers and courses about Bitcoin. Unfortunately, all attempts so far by Bitcoin-related organizations have failed, but at some point, one can be successful in its way of organizing its governance. Im expecting a million dollar or less and yeah i'm right, predicted. Why doesn't the BTC org creates a project where we can help people since we're lucky to have this opportunity to increase profits. It is unbelievable how a forum with such a simple layout is capable of creating such a productive environment where so much wealth circulates and it is distributed. A simple platform where people discuss with some issues around crypto makes a lot of money, Amazing. Imagine, there's a lot of donators existing here and givin' funds to our forum, the PPV (Pay-per-view) of the platform also becomes additional funds since many of us always visiting the site and lastly, from copper rank membership. I think 2018 will have the greatest income than last year, even the btc today was not good as in the 2017. Title: Re: Question about forum finances (again :P) Post by: theymos on October 04, 2018, 11:46:58 PM I'm not ready to post more hard numbers yet.
I think 2018 will have the greatest income than last year, even the btc today was not good as in the 2017. No, I think that gross income will be roughly halved: the two main factors for this are my ban on ICO forum ads and a general reduction in traffic after the bubble popped (as has happened after previous bubbles). While non-ad user payments have become somewhat significant (whereas they were barely worth mentioning in 2017), keep in mind that both evil fees and copper member fees are (intentionally) tiny. (There's no need to be concerned about this whatsoever, BTW. The forum's purpose is not to make money, there are plenty of reserves, and it would be easy to increase income if necessary.) Title: Re: Question about forum finances (again :P) Post by: CodyAlfaridzi on October 05, 2018, 12:00:27 AM I do not like to count other people's finances, but I will take this opportunity to ask a question. BTC750 in https://www.blockchain.com/btc/address/19XTo6BHpPHSkW5cm183VrgEYpGjVJmQEtNow on the balance of the forum 272 Bitcoin + other reserve funds This is a very good capital. https://www.smartbit.com.au/address/17RTTUAiiPqUTKtEggJPec8RxLMi2n9EZ9 Does the forum have a financial problem? BTC500 in https://www.blockchain.com/btc/address/1Eog8UqRFLufC71rBLt2nYgfUDskgxAyVF That's BTC1500+, equal to $10 million. With regular expense of about $160,000 last year (excluding Epochtalk development expense), there should be no financial problem. Title: Re: Question about forum finances (again :P) Post by: Dilireba on October 05, 2018, 02:17:14 AM Is theymos forced to report about forum finances every year? Or he just do it to satisfy member's curiousness.
Title: Re: Question about forum finances (again :P) Post by: TryNinja on October 05, 2018, 02:21:03 AM Is theymos forced to report about forum finances every year? Or he just do it to satisfy member's curiousness. He isn't really forced to do anything.Title: Re: Question about forum finances (again :P) Post by: angel55 on October 05, 2018, 02:40:48 AM Don't worry, Satoshi will come back one day and use his one million bitcoins.to help support this forum.
Title: Re: Question about forum finances (again :P) Post by: Dilireba on October 05, 2018, 02:45:40 AM Is theymos forced to report about forum finances every year? Or he just do it to satisfy member's curiousness. He isn't really forced to do anything.Don't worry, Satoshi will come back one day and use his one million bitcoins.to help support this forum. If he is still alive and well, i think he always keeps his eyes on us :) Title: Re: Question about forum finances (again :P) Post by: valnd on October 05, 2018, 03:24:08 AM Guys... BTCT is not a public company... no one has any obligation to post their private earnings. Would you go to a local café-bar and while drinking your coffee, ask them how much is their yearly income? Well if you're friends with them maybe, but otherwise that'd be totally weird. Is not the first time the forum publish these kind of informations as you can see I'm behind on the accounting. 2015 is basically done, but I need to double-check it and apply the results of taxes (even when there's a net loss, there may be capital gain taxes). 2016 is still very incomplete: I've had to do half of the work in order to pay taxes, but I basically need to go through everything again to figure out forum balances. Sloppy, I know, but I've been disincentivized to spend many hours figuring it out exactly because the reserves so obviously exceed the expenses. There's currently about 1250 BTC(+BCH) in reserve. Keep in mind that if I make an accounting mistake, almost certainly the result of this will be that I pay forum expenses out of my own pocket accidentally. The income is almost all very obvious/public, and I have to list all of the expenses that I temporarily paid out of pocket in order to be repaid from the forum income or reserves. So it's very unlikely that I would take too much money. Here are approximate numbers. Code: 2015: This is the first i am seeing this, 2017 income is big, I believe 2018 income will be so massive because a lot of people join the forum this 2018, For me I think it will be a good idea the forum makes a donation to charity every year, it will help to rise the reputation of the forum and also contribute in making crypto go main stream. Imagine a headline on cnn saying Bitcointalk donates $100,000 to charity? It will make the forum to be respected anywhere it is mention both outside crypto space. Just a suggestion. Title: Re: Question about forum finances (again :P) Post by: cabalism13 on October 05, 2018, 03:37:04 AM This is the first i am seeing this, 2017 income is big, I believe 2018 income will be so massive because a lot of people join the forum this 2018, For me I think it will be a good idea the forum makes a donation to charity every year, it will help to rise the reputation of the forum and also contribute in making crypto go main stream. Try to read the whole thread along with it's comments/replies. Theymos already stated this: No, I think that gross income will be roughly halved: the two main factors for this are my ban on ICO forum ads and a general reduction in traffic after the bubble popped (as has happened after previous bubbles). While non-ad user payments have become somewhat significant (whereas they were barely worth mentioning in 2017), keep in mind that both evil fees and copper member fees are (intentionally) tiny. (There's no need to be concerned about this whatsoever, BTW. The forum's purpose is not to make money, there are plenty of reserves, and it would be easy to increase income if necessary.) Imagine a headline on cnn saying Bitcointalk donates $100,000 to charity? It will make the forum to be respected anywhere it is mention both outside crypto space. Just a suggestion. Just think of the expenses first before making a suggestion. Do you really think that these forum is making so much money? What's the big deal if new members shows up? Not all of them availed the Copper Membership? And! (Somebody correct me if I'm wrong) This community doesn't intend to be somewhat an advertisement for Crypto, it is meant for discussions relating crypto. That is what a forum should be. Title: Re: Question about forum finances (again :P) Post by: redsn0w on October 08, 2018, 02:23:02 PM May you please post the data about year 2017 (just to verify)?
Thanks again theymos. .... Code: ... Title: Re: Question about forum finances (again :P) Post by: cabron on October 08, 2018, 03:21:24 PM The hosting itself is insanely huge. It must be good to be part of the staff and get a piece of the $120K, this isn't even their main job. The advertising in the forum is worth though and so I guess the companies doing it may really be earning much too after advertising. $1,065,000 is freedom and this was even when the ICO was banned, I don't think some big forums earn that much. Title: Re: Question about forum finances (again :P) Post by: suchmoon on October 08, 2018, 03:46:34 PM The hosting itself is insanely huge. It must be good to be part of the staff and get a piece of the $120K, this isn't even their main job. Neither of these sounds huge, particularly staff compensation considering the amount of crap they deal with. With the avalanche of garbage over the last couple of years I would have expected staff expense to double or triple but it has stayed roughly the same. Title: Re: Question about forum finances (again :P) Post by: finaleshot2016 on October 08, 2018, 11:59:42 PM Don't worry, Satoshi will come back one day and use his one million bitcoins.to help support this forum. If he is still alive and well, i think he always keeps his eyes on us :) Well, satoshi is not still clarified as a person because "satoshi" is just a pseudonym of the founder. There also theories that Satoshi Nakamoto comes from electronics brand. So who knows? But still this person or faction really makes a good thing in technology and we're still looking forward for more future ideas from them.-- |