Bitcoin Foundation: Where on Earth Did all the Money Go?

[BruceFenton]

What is the new timeline in uploading the 2014 tax returns?

Seriously?

They are up http://bitcoinfoundation.org/wp-content/uploads/2016/01/2014-990-FINAL.pdf

Have been since this issue was brought up yesterday.

[coins101]

.....
Audits are a tool used primarily to 1) find out what happened, 2) uncover unknown problems 3) as a tool to identify faulty employees or help draft new procedures to avoid past problems ....

Actually, the number one use of audits is to remind people within the organisation that each year they will be held to account. It is actually a good use of time, not for retrospective naval gazing, but as a constant reminder that the organisation is open to scrutiny and so it should drive appropriate behaviour.

Look, bud, if Bruce Fenton says it's a waste of time, it's a waste time. It's also a waste of time to dig into the past of TBF's affairs in spite of there now being a 10% bounty to seek out past corruption.

Actually, I'm not interested in what has already happened here....I'm more interested in looking forwards.

It should be a part of the Foundation's constitution that it will be audited and that the audits will be made public. That is it. What has happened is water under the bridge as far as I'm concerned, provided people are confident that there was no criminal activity with any of the payments.

[Gleb Gamow]

Will you use "I had nothing to do..." when it comes time to dole out a 10% bounty, thus nullifying any exposures?

So you are now implying that I did have something to do with this?

You have a calendar right?   These financials in the OP end on January 1 2015,  more than four months before I volunteered to try to fix the mess.

Is your theory that they didn't actually lose the massive amount of money they said they lost and that they secretly left me a bunch of other money to work with that I then secretly lost?

I get you are angry but be logical and place blame where blame is due.  I volunteered to attempt to clean up a mess.  Attacking at me is no more logical than criticising a firefighter for being associated with arsonists.

Again, I think you missed the mark as to what I was alluding to.

[Gleb Gamow]

What is the new timeline in uploading the 2014 tax returns?

Seriously?

They are up http://bitcoinfoundation.org/wp-content/uploads/2016/01/2014-990-FINAL.pdf

Have been since this issue was brought up yesterday.

Seriously, this is the first I've seen a link to it. And how was it that you didn't provide the link earlier in this thread after the first time I mentioned it, or the second, or the third?

[BlindMayorBitcorn]

So just to be clear: This is the guy who jumped on the ship while anyone with integrity was jumping off?

[BruceFenton]

Are you goin' on record in stating that Englund and Disney are no longer part of TBF?

Absolutely.   Look, I get you are angry.  I am too.  How do you think I feel seeing all this wasted money and opportunity?   
But please base things on accurate data.  Your posts seem to indicate that you have a different idea of what my involvement is and others since I came aboard.

In April I volunteered to help clean up the mess of the foundation.  I came aboard and got a handful of passwords and the contact info for a part time bookeeper.  There were zero other employees.   The first day or so I was in the role I tweeted the Bitcoin and bank balance she told me.
I added one other part time employee to run operations and added a few volunteers.

Englund and Disney have had absolutely no involvement with the Bitcoin Foundation since I volunteered.  Jinyoung tendered her resignation, effective immediately within hours of me volunteering.  Disney was gone even before that.

I never had any involvement with Disney whatsoever and never even heard the name until I volunteered and saw her on an email list.

The only interaction I had with Jinyoung was the previous year when she had me appointed as the chair of the poverty committee when Andreas left and then subsequently had be fired from that committee few days later because she was angry that I reached out to Andreas and asked for his advice and thoughts on the committee.

[BruceFenton]

Seriously, this is the first I've seen a link to it. And how was it that you didn't provide the link earlier in this thread after the first time I mentioned it, or the second, or the third?

I thought it was clear that I had fixed the problem and you knew it was up.

[BruceFenton]

So just to be clear: This is the guy who jumped on the ship while anyone with integrity was jumping off?

Who are you talking about?

[BlindMayorBitcorn]

But didn't everybody resign when Brock Pierce slithered on? Or am I thinking of another Bitcoin Foundation??

[Gleb Gamow]

So just to be clear: This is the guy who jumped on the ship while anyone with integrity was jumping off?

http://bitcoinfoundation.org/wp-content/uploads/2016/01/2014-990-FINAL.pdf



http://www.coinfox.info/news/persons/1841-brucefenton

According to his personal website, Bruce Fenton began his career in the financial sector at Morgan Stanley, where he was one of the firm’s youngest stockbrokers. In later years, he participated in many ventures and founded Atlantic Financial and Gulf Advisors Group. According to his bio on Twitter, Fenton is a “Bitcoiner, traveler & freedom loving techno geek”.

Bruce Fenton takes leadership at an important juncture. Recently, the Bitcoin Foundation was shaken by a new scandal coming from the very top of the organization. One of the newly elected Board members, Olivier Jannsens, published a Reddit post in which he stated that the Foundation is close to bankruptcy. Jannsens also stated that the Foundation’s executive director, Patrick Murck, would be leaving his post within two weeks and the Foundation was searching for a replacement. The development of the bitcoin core was also under question, according to the post.

The Bitcoin Foundation denounced Jannsens’ letter and said that it does not contain any serious facts. Nevertheless, the scandal shook the bitcoin community. As CoinFox reported earlier today, an MIT professor suggested creating a new platform for bitcoin development that would be independent from the Bitcoin Foundation.

I guess technically $336,337 isn't considered being bankrupt even after spending ~$4.3M the year prior, with all of 2014 still ahead.

[BruceFenton]

But didn't everybody resign when Brock Pierce slithered on? Or am I thinking of another Bitcoin Foundation??

The only one I'm aware of who resigned was Olivier, then then came back and was voted off by the board and has resigned again

[BlindMayorBitcorn]

But didn't everybody resign when Brock Pierce slithered on? Or am I thinking of another Bitcoin Foundation??

The only one I'm aware of who resigned was Olivier, then then came back and was voted off by the board and has resigned again

Um:

At least 10 members of the nonprofit Bitcoin Foundation have resigned over last week's election of onetime Disney child star and current Bitcoin entrepreneur and financier Brock Pierce as a new director, officials at the group said.

http://www.reuters.com/article/us-bitcoin-foundation-resignations-idUSBREA4F02B20140516

[BruceFenton]

The Bitcoin Foundation denounced Jannsens’ letter and said that it does not contain any serious facts.Nevertheless, the scandal shook the bitcoin community.

I guess technically $336,337 isn't considered being bankrupt even after spending ~$4.3M the year prior, with all of 2014 still ahead.

Jannsens original post on Reddit was mostly accurate (although in my opinion a bit unprofessional and sensational and with some technical errors such as the term bankruptcy)

When I volunteered I had the foundation statement you mention above denouncing Jannsens post deleted because I didn't think it was accurate.

[Gleb Gamow]

Are you goin' on record in stating that Englund and Disney are no longer part of TBF?

Absolutely.   Look, I get you are angry.  I am too.  How do you think I feel seeing all this wasted money and opportunity?   
But please base things on accurate data.  Your posts seem to indicate that you have a different idea of what my involvement is and others since I came aboard.

In April I volunteered to help clean up the mess of the foundation.  I came aboard and got a handful of passwords and the contact info for a part time bookeeper.  There were zero other employees.   The first day or so I was in the role I tweeted the Bitcoin and bank balance she told me.
I added one other part time employee to run operations and added a few volunteers.

Englund and Disney have had absolutely no involvement with the Bitcoin Foundation since I volunteered.  Jinyoung tendered her resignation, effective immediately within hours of me volunteering.  Disney was gone even before that.

I never had any involvement with Disney whatsoever and never even heard the name until I volunteered and saw her on an email list.

The only interaction I had with Jinyoung was the previous year when she had me appointed as the chair of the poverty committee when Andreas left and then subsequently had be fired from that committee few days later because she was angry that I reached out to Andreas and asked for his advice and thoughts on the committee.

April 13, 2015: Bruce Fenton elected to the Board.

April 22, 2015: https://www.cryptocoinsnews.com/gavin-andresen-bitcoin-soft-fork-going-eta-increased-block-size-6-months-year/



How was it possible that did you not come across Englund or Disney?

[Gleb Gamow]

Seriously, this is the first I've seen a link to it. And how was it that you didn't provide the link earlier in this thread after the first time I mentioned it, or the second, or the third?

I thought it was clear that I had fixed the problem and you knew it was up.

I guess it wasn't clear to me, akin to you not being able to understand my satire.

[BruceFenton]

But didn't everybody resign when Brock Pierce slithered on? Or am I thinking of another Bitcoin Foundation??

The only one I'm aware of who resigned was Olivier, then then came back and was voted off by the board and has resigned again

Um:

At least 10 members of the nonprofit Bitcoin Foundation have resigned over last week's election of onetime Disney child star and current Bitcoin entrepreneur and financier Brock Pierce as a new director, officials at the group said.

http://www.reuters.com/article/us-bitcoin-foundation-resignations-idUSBREA4F02B20140516

Okay, thx for the link.  I didn't follow the story much at the time.  I thought the scandal it was primarily based on accusations which were not proven.

[Gleb Gamow]

So just to be clear: This is the guy who jumped on the ship while anyone with integrity was jumping off?

Who are you talking about?

I'm gonna take a guess and say that BMB (that stands of BlindMayorBitcorn) is referring to Private Barton W. Mitchell. How close am I, BMB?

[BlindMayorBitcorn]

But didn't everybody resign when Brock Pierce slithered on? Or am I thinking of another Bitcoin Foundation??

The only one I'm aware of who resigned was Olivier, then then came back and was voted off by the board and has resigned again

Um:

At least 10 members of the nonprofit Bitcoin Foundation have resigned over last week's election of onetime Disney child star and current Bitcoin entrepreneur and financier Brock Pierce as a new director, officials at the group said.

http://www.reuters.com/article/us-bitcoin-foundation-resignations-idUSBREA4F02B20140516

Okay, thx for the link.  I didn't follow the story much at the time.  I thought the scandal it was primarily based on accusations which were not proven.

Hmm.

[BruceFenton]

How was it possible that did you not come across Englund or Disney?

From the article and people in it, my best guess is that the photo in the article was from DevCore London which was going on almost the same time as I volunteered, I think a couple days after.

I didn't attend this event or have anything to do with it.   I never heard of Helen until after I started.  Already explained that I dealt with Jinyoung the previous year.

I haven't met or spoken to either of them since I volunteered,  my only contact has been briefly by email to ask Jinyoung for a password and forwarding a question that Helen had about her tax withholding to the bookeeper.

They had existing pay for the final pay period which was approved by the previous Executive Director - I never have authorized any further new pay to either of them and they haven't done any foundation work since I volunteered.

[Blawpaw]

It seems like in Bitcoin Foundation all they do is spend money.

About a month or two ago there was a post saying they spent a lot of money in just one trip to England... I guess you can imagine in what more they spend...