Ethereum shuts down forums because $300 / month is too much

[themasknetwork]

Step 1 : You rise $18 mil in BTC

Step 2 : You loose $9 mil because BTC price collapses and you don't understand that programmers and rent are paid in real USD or BTC equivalent. So you just keep all the funds in BTC. - http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/

Step 3 : You run out of cash because you hire an army of programmers, rent offices in 3 countries and spend $12.000 / day. (https://blog.ethereum.org/2016/01/07/2394/)

Step 4 :  You shut down the only place where tons of ETH lovers meet because you reach the conclusion that $300 hosting costs to run the forums are too high. (https://forum.ethereum.org/discussion/6321/cross-post-forum-migration-update)

No comments...

[1714034837]

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[1714034837]

1714034837

[MRKLYE]

Step 1 : You rise $18 mil in BTC

Step 2 : You loose $9 mil because BTC price collapses and you don't understand that programmers and rent are paid in real USD or BTC equivalent. So you just keep all the funds in BTC. - http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/

Step 3 : You run out of cash because you hire an army of programmers, rent offices in 3 countries and spend $12.000 / day. (https://blog.ethereum.org/2016/01/07/2394/)

Step 4 :  You shut down the only place where tons of ETH lovers meet because you reach the conclusion that $300 hosting costs to run the forums are too high. (https://forum.ethereum.org/discussion/6321/cross-post-forum-migration-update)

No comments...

An masterful display of lack of money management skills I'd say! (And I can say that, because I too at one point or another lacked these skills)

[BitcoinNational]

this is damning and makes sense
if your going to be the #2 coin you need some foundation/FUND/office(rs)
run out of money that goes away quick

coins like LTC and Doge can go headless more or less, there is not much more coding required.
but ETH is a project in development, something completely different, and massively complex.

[The Sceptical Chymist]

Sounds pretty stupid,  but hopefully it doesn't tear the ETH community up.  Someone could always open a private forum like bitcointalk, or just use reddit--which is already being done.   Too bad about the dumbass money management.

[r0ach]

It's part of the Vitalik plan to change his image and become a white rapper.

[americanpegasus]

This is the shit that one of the smartest men alive, Nick Szabo, has gone full-americanpegasus for.  Nick, what are you doing, bro?

[alyssa85]

Oh wow. I guess they arn't going to take over the #1 crypto spot any time soon.

I don't understand why they didn't just ask the forum users to donate a few coins to keep the forums going.

[Red-Apple]

Step 1 : You rise $18 mil in BTC

Step 2 : You loose $9 mil because BTC price collapses and you don't understand that programmers and rent are paid in real USD or BTC equivalent. So you just keep all the funds in BTC. - http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/

Step 3 : You run out of cash because you hire an army of programmers, rent offices in 3 countries and spend $12.000 / day. (https://blog.ethereum.org/2016/01/07/2394/)

Step 4 :  You shut down the only place where tons of ETH lovers meet because you reach the conclusion that $300 hosting costs to run the forums are too high. (https://forum.ethereum.org/discussion/6321/cross-post-forum-migration-update)

No comments...

also you should add another step, maybe between #1 and #2

step 1.5: hire shills, pay idiots also set up a lot of bots and tell all of them to start spamming all over each social media that is remotely related to crypto currencies.

[needmoney90]

This is the shit that one of the smartest men alive, Nick Szabo, has gone full-americanpegasus for.  Nick, what are you doing, bro?

He went full AmericanPegasus? Never go full AmericanPegasus.

[Spoetnik]

BlockNET did the same thing too.. no one said a word.

[alyssa85]

Step 1 : You rise $18 mil in BTC

Step 2 : You loose $9 mil because BTC price collapses and you don't understand that programmers and rent are paid in real USD or BTC equivalent. So you just keep all the funds in BTC. - http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/

Step 3 : You run out of cash because you hire an army of programmers, rent offices in 3 countries and spend $12.000 / day. (https://blog.ethereum.org/2016/01/07/2394/)

Step 4 :  You shut down the only place where tons of ETH lovers meet because you reach the conclusion that $300 hosting costs to run the forums are too high. (https://forum.ethereum.org/discussion/6321/cross-post-forum-migration-update)

No comments...

also you should add another step, maybe between #1 and #2

step 1.5: hire shills, pay idiots also set up a lot of bots and tell all of them to start spamming all over each social media that is remotely related to crypto currencies.

The spamming definitely worked because the price rose after pretty much everyone who had ever posted on the bitcoin subreddit was spammed with a private message promoting Ether. You have to give them credit for understanding the psychology of marketing.

[ProfessionalGoogler]

The durp in here is just.. 

Wow a alt coin that can actually do something and not turn out a scam, you can stay in denial all you want.

[keyscore44]

Ouch! doesn't really inspire confidence...

How have they managed to spend so much btc? There's only so much you can spend on blow and hookers.

[The Sceptical Chymist]

Oh wow. I guess they arn't going to take over the #1 crypto spot any time soon.

I don't understand why they didn't just ask the forum users to donate a few coins to keep the forums going.

That's a good point, I'm not sure either.  This isn't exactly the death knell for ETH but it sucks for them.  If bitcointalk shut down there'd have to be a really good replacement and as I said before, the community would be somewhat fragmented. 

[Gyrsur]

it's just insane.

https://blog.ethereum.org/2016/01/07/2394/

[Moneroman88]

it's just insane.

https://blog.ethereum.org/2016/01/07/2394/

Thanks for posting that link. Yet what's insane?

[Gyrsur]

it's just insane.

https://blog.ethereum.org/2016/01/07/2394/

Thanks for posting that link. Yet what's insane?

i got it from here.  

Step 1 : You rise $18 mil in BTC

Step 2 : You loose $9 mil because BTC price collapses and you don't understand that programmers and rent are paid in real USD or BTC equivalent. So you just keep all the funds in BTC. - http://www.coindesk.com/ethereum-bitcoin-decline-9-million-funding-shortfall/

Step 3 : You run out of cash because you hire an army of programmers, rent offices in 3 countries and spend $12.000 / day. (https://blog.ethereum.org/2016/01/07/2394/)

Step 4 :  You shut down the only place where tons of ETH lovers meet because you reach the conclusion that $300 hosting costs to run the forums are too high. (https://forum.ethereum.org/discussion/6321/cross-post-forum-migration-update)

No comments...

[rdnkjdi]

Oh wow. I guess they arn't going to take over the #1 crypto spot any time soon.

I don't understand why they didn't just ask the forum users to donate a few coins to keep the forums going.

Multiple forum members offered to cover the cost completely and the devs weren't interested in letting them continue the forums.

[jjacob]

Ethereum.org's loss is bitcointalk's gain.
I guess all the activity can just migrate to the altcoin forum.

[Moneroman88]

Ethereum.org's loss is bitcointalk's gain.
I guess all the activity can just migrate to the altcoin forum.

Was there a lot of activity in the first place?   I've had the impression that it's a place that attracts relatively few interested parties.