Topic: Bitmark - page 62. (Read 622228 times)

I hope I have not conveyed things incorrectly.

I personally am committed to seeing Bitmark to fruition. Many others are also committed.  The status change is that rather than me being reliant on the project, I'm going to be doing it in spare time (which will be far more productive), with others from the community taking a lead and joining in.

To me this secures Bitmarks future, rather than destroying it.

Got to agree, this is the last thing BTM needed right now.

I hope it is not the final nail in the coffin.

well. This is terrible. I used alot of my funds to buy BTM. but it seems that it's going down the drain for now. Dump is imminent. When other people's wallet coins are fully confirmed in polo's wallet, then we will see blood

I am 'on vacation' effectively but received a notification of Mark's post ^^^

Reading it and taking it in the spirit with which it was written, I have one quick response; Respect

I fully agree with Melvin's points here and elsewhere around courtesy and respect for the community - however, understanding & empathising fully with where Mark seems to have got himself, I respect that at last he has made such a frank and open appraisal and disclosure of his actions.

If holders want to dump; so be it. I continue to believe in the spirit and intent of this project and sincerely hope for all the many reasons stated here and elsewhere, that it can move forward.

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

Guy's...I just want the transparency within our actions to resonate with y'all.  I have a personal goal to achieve the launch of bitmark.co & have Marking implemented within the next 30 Day's. That is why I am considering this option. I Hope y'all understand that we are here for the long haul..we believe in the vision, and we are working to achieve it.

Appreciated, especially since I, medic and many others supported and held.  But let's face facts, the coin is dying.  Without an engaged lead dev, and without a marking code base, it will take a gargantuan effort just to keep it alive.  The coin has been in a death spiral since mark started doing other things, and was less involved, now he's saying he wants to be much less involved, there's no reason to believe this trend wont continue or accelerate.  We asked for 1 day a week, that seems not even for sure at this point.  I posted the suggestion here for full transparency.  Better suggestions are welcome.  I cant think of any.

Doing this would amount to pissing on the people that have held and supported Bitmark thus far ...

And you posted the fact that you are thinking about dumping 7K BTM on a public forum? Not smart.  I've already seen buy orders pulled in anticipation of the dump.

+1
Mark's problem was he was so 'ethical' at the start with the launch (no IPO, no premine etc) and 2014 was an absolute shocker for crypto generally, that I'm actually not that surprised to hear that Mark may have found himself struggling to pay his rent/mortgage or something similar. Obviously he should have asked for help, but maybe he did. Does anybody know? Funding decentralised crypto projects is certainly a bitch

I agree with CYAM on this:


Mark tried to do the right thing at the start, but during the hardest of times, and he stumbled. That shouldn't be fatal for his reputation.

Where did the trading fund monies come from? If the BTM foundation funds are not involved then this almost feels like a private matter between Mark and the people who funded the trading fund. Maybe they're cool with what happened.

Sounds like coinsolidation was a good man with some short term money problems who made a bad decision in the moment. That bad decision doesn't make Mark a bad guy, just a regular person juggling priorities with limited resources. If the trades he made with the community funds went in his favor then things would be different. For him to 'borrow' from the community funds isn't such a fall from grace IMO. How he acts from now on is all that really matters. I suspect he will try his best to make good and get things back on track.

Can someone post the statement/explanation he made in full?

I am acting on Melvins suggestion, However a decision to sell will be made at the time of confirmation, which is likely to be ~3 days from now

We dont know the full facts at this point.  We do know is that Mark is proposing reduced engagement for the next 6 weeks.

I think it's likely the coin will drop in value during this time.

Medic, rather than messing around with n of m, I suggest selling the whole 7k on the market (as quickly as you can) then putting in a buy wall at 1k.

That would buy us back 70k if we do it now.  Then if the project can be brought back to its previous highs and beyond, that would give a decent war chest for bounties etc.

7k BTM right now seems a pretty useless number, and dropping like a stone in value ...

Not necessarily. Mark may have swindled the lot of us and him leaving is actually a good thing due to his various inconsistencies. One thing he did do though, is bring together a lot of very smart people. So it'll be interesting to see how things progress without constantly waiting on an individual who has had 1.8 feet out the door.

Haha this coin is rekt!

Awesome, Thanks!

Additionally, I understand the importance of providing constant status updates via BTT, when I have tangible information to share, I will. We are working on gathering code and ensuring Mark completes hit moral obligation to check the code in by the end of this weekend. Stay at easy guy's...very few have a higher stake in BTM than I do, so failure is not an option.  

At a glance it appears Bitmark has multisig support:

addmultisigaddress nrequired ["key",...] ( "account" )

How to guide by Gavin Andresen here:

https://gist.github.com/gavinandresen/3966071

 
Exactly...the foundation funds are secure, they were sent to me by Mark.

I need to set up a multi-signature wallet to ensure this does not happen again. Does the BTM wallet have this capability or is there a better 3rd party app? If anyone has information on setting one up, I will gladly consider the source. Thanks

Just want to add that all Bitmark foundation funds are accounted for and now under medic's control in case someone misinterprets this.