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

[onlinedragon]

That sounds like the start of the end for Ethereum. When you can't even manage to keep an forum online. Let me guess big salary for the creators and now is there own wallet empty.

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[jjacob]

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.

According to the OP, there was activity and it was the only place with such activity.
In any case $300/month isn't much...

[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.

According to the OP, there was activity and it was the only place with such activity.
In any case $300/month isn't much...

How does the OP fix the cost at $300?   Is this official information?

[MGM]

Lisk Devs are much smarter with investors money

www.Lisk.chat costs $0/month

[Josef27]

I think it's probably the case of learning from their mistakes, and over reacting in the other direction. They've decided to cut out any unnecessary spending. I don't know the complete situation, but it seems logical if someone with web business acumen contacts them with a proposition. They could turn that forum into a money maker. Place some Google ad's, tweak some SEO keywords, link backs etc..

[cryptohunter]

what a strange move..doesn't give a good impression really.

[benthach]

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...

this vaporware have made ton of millionaires, profits is secured and in smart people pockets right now. they rather passing this kind of drama back to the dumb morons and bagholders.

[btcxyzzz]

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)

Completely ridiculous. Besides, I doubt same forum couldn't be run for around 100 USD/mo. Telling this because I run the site for little more and it's dedicated Core I7 server with 8 GB RAM/500 GB HDD on a fast link. That kind of hardware is cabable of running very busy forums.

[spartacusrex]

When these are your out-goings :

22,000 EUR per month for C++ development (down by ~75%)
65,000 EUR per month for Go development (down by ~10%)
5,000 EUR per month for Python development (down by ~50%)
13,000 EUR per month for IT, hosting, maintaining build servers, release coordination, etc (down by ~35% with more cuts likely coming soon)
6,000 EUR per month for communications (down by ~85%)
20,000 EUR per month for research (roughly unchanged)
40,000 EUR per month for top-level administrative and executive staff, accounting, office management, legal and other expenses (down by ~50% with more cuts likely coming soon)

( Taken from the latest blog post https://blog.ethereum.org/2016/01/07/2394/ )

..It is impossible that they are shutting the forums down due to financial reasons. Certainly not because of a pissy $300 a month.

There is obviously more to it. Just don't know what..

..

ps.. That is some serious cash they are burning through..

[themasknetwork]

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.

Asking the community to pay $300 / month, 2 years after community paid you $18 mil it's embarrassing.

[sesiah]

To me, this feels more of a joke, they have to think right and plan on self sustaining mechanisms

[Rune]

That is actually pretty crazy how do you mismanage that much money.
300$ a month is noting all they had to do was make a post about it and they could raise 10 times that in a hour.

[Praxis]

It's cringeworthy really. Thanks for the informative post, OP.

[balu2]

Financials are probably just an excuse to wind down operations before the fatal flaws in the code are exposed?

[johncarpe64]

Coding and business are separate. Good thing they can always raise more money by issuing ETH 2.0

[64dimensions]

Some comments:

1) If the reason(s) for shutting down the forums to save $300/month is truly negative, then we would have seen some (heavy?) insider ETH dumping, possibly crashing the price.

2) If salaried people were spending time interacting/perusing on the forum, the cost per month would be a lot more than $300 because you have to include their labor.

3) As long as we are speculating, what we maybe witnessing is a change in management which is resulting in a tightening up in spending and getting staff to focus. The forum may have been seen as a time sink for the paid ETH staff.

[alyssa85]

When these are your out-goings :

22,000 EUR per month for C++ development (down by ~75%)
65,000 EUR per month for Go development (down by ~10%)
5,000 EUR per month for Python development (down by ~50%)
13,000 EUR per month for IT, hosting, maintaining build servers, release coordination, etc (down by ~35% with more cuts likely coming soon)
6,000 EUR per month for communications (down by ~85%)
20,000 EUR per month for research (roughly unchanged)
40,000 EUR per month for top-level administrative and executive staff, accounting, office management, legal and other expenses (down by ~50% with more cuts likely coming soon)

( Taken from the latest blog post https://blog.ethereum.org/2016/01/07/2394/ )

..It is impossible that they are shutting the forums down due to financial reasons. Certainly not because of a pissy $300 a month.

There is obviously more to it. Just don't know what..

..

ps.. That is some serious cash they are burning through..

That is serious cash they are burning. It's a bit like what went on in the dot com era when start-up capital was burned through extravagantly and then they all crashed and burned when the money ran out. I wonder if the real cost of the forum was the 13000 EUR listed  for "IT hosting" etc - in other words they are paying over the odds for someone to manage the forum.

[prettybuds]

 . . .  I personally prefer Bitcointalk anyway

[mkc]

ETH doesn't have mass user base as Bitcoin for sure.
I am sure bitcoin talk cost more, but there are many donators.

[nanonymousx]

That sounds like the start of the end for Ethereum. When you can't even manage to keep an forum online. Let me guess big salary for the creators and now is there own wallet empty.

I agree, Ethereum has run its course and now i almost time for it unfold. Until it come up with something milestone worthy