Quote from: hmmmstrange on June 02, 2014, 05:26:12 AM

Quote from: niner on June 02, 2014, 04:18:40 AM

Quote from: hmmmstrange on June 02, 2014, 02:16:46 AM

mastercoin foundation burn rate.....

1/1/2014 4431 btc
5/1/2014 3298 btc

4 months 1133 btc = 283 btc per month
3298/283 = 11.65 months from 5/1/2014

My calculation the foundation will be out of btc on April 20th 2015.

Most of the btc was spend when it's value was considerably higher then it is now. The only thing that can save the foundation from bankruptcy early next year, is another 500% increase in btc's value.

If btc's value had stayed the same as it was during the ipo, the mastercoin foundation would have been broke months ago.

@hmmmstrange, There used to be a spreadsheet online showing all the foundation's assets and expenditures.
Was that your source? Also, aren't there dev mastercoin still held by the foundation?

Here is the spreadsheet. May has not been reconciled yet.

http://docs.google.com/spreadsheet/ccc?key=0AtCyUJvk_IyNdGpVcnpBN2tOczFmbVRnck5TWjZuRFE&usp=sharing

There about 45k msc that available to the foundation on the disbursement schedule. That works out to roughly 1000 btc at the current exchange rate. I have a hard time seeing those coins being worth much on the open market when all the foundation has left is msc to fund the project.

Given that the foundation has gone through just over 33% of their original btc funds, and increasing their burn rate significantly every month, they need to prioritize expenses.

With 578k msc in the public's hands, the foundation now holds less then 0.006 btc per msc at large.

The bottom line is, they have spent over a million dollars and we don't even have a reference client.

hmmmm. I see two transactions for 1000BTC each which are listed as being transfered to offline wallet: row 27 and 29. Doesn't indicate that money has been "Spent" just that it's offline.

Although yes- we should be farther a long with a reference client.