Where's the new forum Theymos?

[jubalix]

Why don't you invest the bitcoins into asicminer shares?

I'm fairly confident that Bitcoin returns will beat asicminer returns. But it's his money to invest as he wants I guess.

Yeah, it looks like he is just going to keep the whole thing.  How does that compare to that pirate guy?  Did he get over $600K?

By A LOT! Also, all the money that pirateat40 was holding wasn't actually his, unlike all the money that theymos is holding.

I don't know what was said or what promises were made or who owns what funds.  But, look at this:

http://pastebin.com/raw.php?i=33E6kJ46


This is a non-legal agreement between The Bitcoin Forum ("Forum") and John K. ("Treasurer"). This agreement is intended to be enforced in a non-violent, non-legal way by the community.


What is a "non-legal agreement"?  How do you "enforce" an agreement in a "non-violent, non-legal" way?  Has anyone, anywhere, ever seen such an agreement in the history of the World outside of Bitcoin?

Point of law, courts generally reject privitave clauses 'eg non-legal" on the basis they seek to usurp jurisdiction, not always but often, and the default supervening jurisdiction is usually the one where  the service is offered or where the server resides

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[sonicby]

Fun topic, let's continue the discussion. 

[Lohoris]

12 months ago I donated 10 BTC to you to make a new forum. You have since then collected over 6000 BTC and continue to collect on a regular basis, under the guise of "creating a new forum", yet you have yet to create a new forum.

Please present a status report of your progress in the past 12 months with creating the forum. Thanks.

I haven't followed this in details, but I would just like to point out that this forum is partly responsible for the TradeFortress' scam, since he was in DefaultTrust list, so if there is a huge pile of unspent funds, they might be donated towards the people who got robbed...

[sonicby]

6000 * 500 $ = 3 000 000 $ 
that enough for build new forum from zero ?                 

[Operatr]

6000 * 500 $ = 3 000 000 $  
that enough for build new forum from zero ?                  

This would be enough to develop an entirely new forum platform, by an entirely new company...

[theymos]

A committee is being formed to get this done.

I'm getting awfully sick of people complaining about the forum's BTC... ~57% of the forum's money is from ads, not donations. Perhaps 20% is from people who donated when BTC had very little value, and they (and I) thought that the forum software would be forthcoming. I apologize for taking so long, but my waiting has increased the purchasing power of this money by 500+%. The rest is from people who mostly just wanted the Donator/VIP label, and knew that the forum software was unlikely to appear soon. This is only an issue at all because my good management of the forum's finances resulted in a gigantic stash of money.

[qwk]

A committee is being formed to get this done.

Who's going to be on the committee?

[Lohoris]

A committee is being formed to get this done.

I'm getting awfully sick of people complaining about the forum's BTC... ~57% of the forum's money is from ads, not donations. Perhaps 20% is from people who donated when BTC had very little value, and they (and I) thought that the forum software would be forthcoming. I apologize for taking so long, but my waiting has increased the purchasing power of this money by 500+%. The rest is from people who mostly just wanted the Donator/VIP label, and knew that the forum software was unlikely to appear soon. This is only an issue at all because my good management of the forum's finances resulted in a gigantic stash of money.

And why a shady person like TF was in the DefaultTrust?
Why is there a DefaultTrust at all?

[deslok]

This is only an issue at all because my good management of the forum's finances resulted in a gigantic stash of money.

I'm pretty sure good management would have resulted in a small surplus not a 3 million dollar one, the money could very well have been spent both promoting bitcoin and doing all the things that people have been asking for as far as the forum is concerned as well as paying full time support staff(including an admin) long before we reached this point.
Also can I nominate myself to be on the committee?

[ElDido]

Reddit is 100 times better than any forum software imho

[Inaba]

Reddit is 100 times better than any forum software imho

Reddit is great for news.  It's complete shit for back and forth discourse over the course of days. 

Reddit and forums serve two entirely different purposes and one can't replace the other adequately.  Although some of the features of Reddit would be welcome here, for sure. 

[matt_boyd]

Reddit is 100 times better than any forum software imho

Reddit is great for news.  It's complete shit for back and forth discourse over the course of days. 

Reddit and forums serve two entirely different purposes and one can't replace the other adequately.  Although some of the features of Reddit would be welcome here, for sure. 

This. If we remake reddit half of us will go make a real forum.  Reddit is cool and all just not a forum.

Do you remember when I got you into Reddit Goat?

[go1111111]

Right now the value of the 5500 bitcoins for the forum is about 4 million dollars. As people have mentioned above, we could get an awesome forum for much less than that.

Assuming the funds aren't going to be returned to people who donated, I suggest that the money could be spent much more productively than by using it on all a 4 million dollar forum. In particular, if 3.5 million dollars of the fund were used to fund projects that strengthen the protocol, like CoinJoin, or solve technical problems, the community as a whole would get a lot more benefit than they'd get from the difference between a $500k forum (which is still way more than it's necessary to spend on a forum) and a $4,000,000 forum.

One proposal for how this could work is that everyone who donated would get a vote in proportion to how much they contributed, as to whether they still want their contribution to go to the most expensive forum in history, or whether they want the majority of the money to fund bounties to improve the Bitcoin network itself.

[Rassah]

I seriously doubt Theymos meant he will be spending the entire 6,000BTC on a new forum. From what I'm guessing, some small ("normal") amount will be spent on the forum, and the remainder will be kept as a huge pile of money as a sort of a "bitcoin defense fund." Like if we needed to buy a politician, or fund some project to fix a recently badly-broken bitcoin bug, or something.
Since I look at the pile of money as "someone who is a huge supporter of bitcoin has a ton of money for 'just in case' scenarios," I'm all for it. Besides, I think theymos is trustworthy, and at this point, much of the money he holds isn't even in his trust.

[Kouye]

much of the money he holds isn't even in his trust.

You're right, last time I read he held some, too.