Dear Community,
Over the past few months I have acted unethically and dishonestly. I have repeatedly borrowed from trading funds and those around me, mismanaged my time, taken on too much, and as a consequence hurt many good people who didn't deserve it. Family, friends, associates. I used the funds for living expenses having (foolishly) no other source of income, and due to mismanagement and overcommitment also managed to devalue the projects (BTM, GMC) I am involved with many times, which has caused even greater harm to associates and stakeholders. To you reading this. I am not a victim of circumstance, I created the circumstances and am directly responsible for them. Had I made different decisions along the way things would have been very different.
Over the coming weeks and months I will be working by day for income to repay those I am owing, and by night and weekend to create value on BTM and GMC, to restore value to those projects and to their stake holders.
I would like to clarify that this has been a pitiful situation, everybody is at a loss. This isn't a case of somebody absconding with lots of money and having a great life at others expense, I have had a very financially poor year, and so has everybody around me, which is far worse and for which I am responsible. Any good which has been done along the way is greatly overshadowed by these negative aspects.
Other than the above, I believe my biggest mistakes were as follows:
1. Not having a secure source of income whilst doing the project.
2. Trying to make money by trading profit, rather than by being a stakeholder and creating value. Profit from trading is little more than gambling, and when the stock (alt coins) have little real value (in terms of merit) it's an even higher gamble, and moreover any gains are always somebody else's loss.
3. Being unrealistic in what could be achieved in any given time, and negating needs, project needs and personal needs, letting them pile up rather than resolving them early or ahead of time.
To any observers, please take something from my situation and try to avoid these mistakes yourself, and if you do make any address them early. Take note that there are some genuinely great people around this community, most of them in this thread, work with them and enjoy time creating value. Crypto, and the world, needs people on projects like this, each doing a small part. All will get on far better doing this than you will from any involvement in trading or market activities.
I firmly believe Bitmark is a great concept, and it has an incredible community, it's only failing was in having me at the helm. I sincerely hope with others leading the project, and myself constrained to technical input and work only, that it reaches even part of it's full potential.
To those affected by my actions, I can only apologise. I will work hard to put things right, to ensure these two projects grow in value.
Once all is square and the projects are being operated successfully by their communities I will personally step away fully from the opensource and crypto spaces. I get too wrapped up in projects, take on too much, forget about normal things like living and earning, and everybody around me ends up in a mess, friends, family, acquaintances. I may have some technical skill, but it isn't so special and certainly doesn't outweigh the negative consequences of me having any involvement in projects.
You all deserved far better from me, I have let you down.
From here on, communications from me will be limited to making payments to people, and to making releases of things done. I am still available to answer technical questions in the evenings. Finally if you feel I am owing you, and we are not in communication currently, please make contact so that I can arrange to make you whole.
Sincerely,
Mark