Post
Topic
Board Altcoin Discussion
Re: OFFICIAL LAUNCH: New Protocol Layer Starting From “The Exodus Address”
by
murraypaul
on 28/08/2013, 23:35:52 UTC
The number is $564,600 (the project is currently at 2439 BTC x $118@coinbase = $287,802, leaving us short of that mark by $276,798  = 2346 BTC). Nearly doubling the project fund does seem like a pretty big stretch in just the next couple days, even if we get some big investments from bitangels. However there are a couple ways we might still get there, which I'll get to later.
[...]
    To avoid risk of a bitcoin crash, we would plan to take large chunks of salary in advance (exact amounts to be determined, with amounts largely driven by resulting tax liabilities)
    Total yearly cost: + + = $177k
    Three-year cost = 177*3 = $531k

In addition, I promised her the following items would be paid for out of project funds

    Desk rental at a co-working space, estimated at $350/month ($4200/year)
    Daily transportation costs (Cozi funds my Orca card at about $8 per round trip = $2000/year)
    All travel expenses, including bringing family along if desired, estimated at $5000/year for attending two conferences
    Yearly estimate = 4.2 + 2 + 5 = $11.2k
    3-year estimate = 11.2*3 = $33.6k

Total for 3 years: 531 + 33.6 = $564.6k

So you are planning on using the entirety of the money sent to the Exodus address to pay yourself a nice salary plus all the benefits you want?
What happened to the whole idea of an overseeing board to parcel the money out?
And given that most of the bitcoins sent to the Exodus address were yours to start with, you are actually asking them to kick in far more than 50%.