Complete disclosure to the community!
Questions have been asked about the BTCD's pre-mine (~24,800 BTCD or ~1.5% of the total 1.6 million PoW Coins) here is the breakdown:
P.S. Because coins started to stake after 8 hours of maturity, the total # of BTCD during the PoW phase was less than 1.6 million, and ended up being ~1.174 Million BTCD
1) Azeh -- 5,386 BTCD
2) TorrnA -- 5,386 BTCD
3) BTCDdev --5,386 BTCD
Further development expenses:
Promotion payments before launch: 2,200 BTCD
Blog Posts/ Articles: 120
Node hosting: 10
Games: 90
Faucet funding: 3
Mac Wallet: 275
Windows Wallet: 500
Block Explorers: 550
OP translations: 360
Donations for independent work: 120
Media relations trial: 100
Anon tech development: 3500 (given to BTCDdev by James for his work)
Further development reserved for James after coming on board ~ 1000 (offered to TorrnA and BTCDdev by James)
Basically all pre-mine payments we're made before James joined as core developer. After which, James was offered a bounty for his services, however, said already had enough BTCD that he had bought on the open market and therefore offered his bounty to BTCDdev for his help coding, who didn't have funds to be able to purchase BTCD on the open market.
Furthermore, I (Azeh) was lucky enough to have BTC available in the early days to purchase the majority of the BTCD I hold on the open market and have subsequently funded other aspects of BTCD development with my personal funds.
Web Designer: 1000 BTCD
BitcoinPRbuzz: 1200 BTCD
See below for more details:
A portion of the original pre-mine was agreed upon by the three original developers (Azeh, TorrnA, BTCDdev) to be distributed evenly. This was well before the launch of BTCD and was well before any of us had any knowledge that James would agree to come on board to become the core developer for BTCD. The fact of the matter is, before the launch of BTCD the three original members worked for 2 months planning BTCD. Only one member, Azeh (me) had any BTC available to purchase BTCD on the open market.
Moreover, as others have said previously, If one wanted they could have bought the equivalent of the entire pre-mine in the early days for a few BTC.
Why is this being said now:
1) Continued questions from some community members that have asked for more detail about the pre-mine.
2) A current web developer has blackmailed the dev team for payment of between 5-15k BTCD payment. If we didn't oblige, he threatened to come to the forums to disclose this news and spread FUD.
3) So we can clear the air and move forward with a clean slate and tell said developer that their services are no longer wanted.
Unfortunately, a team member has gone rouge and has threatened the development team and by extension the BTCD community and therefore, I'd like to completely come clean before said member has a chance to spread FUD.
This member, out of respect, I'll leave anonymous and allow him to come out himself if he so chooses. However, this member continues to think that BTCD is some sort of conspiracy that has been concocted to enhance the value of NXT. This member continues to believe this even after explanations about how NXT just provides platform with which BTCD is built over and has nothing to do with original NXT developers or the currency itself.
The situation escalated after an argument with the web designer after which this individual threatened me that he "could just hit ctrl alt delete and walk away", and said that he had done so on the past to another coin.
Bottom Line:
Regarding the pre-mine, should we have been more transparent in the beginning. The short answer: Yes. However, I will blame myself because I only wanted to protect TorrnA and BTCDdev from any criticism who both put in a ton of work and deserve every BTCD they received from the pre-mine.
In addition, I'm not going to sit idly by while an individual attempts use threats and blackmail to achieve some sense of control and extort funds for their own gain. This is not in the spirit of what BTCD is all about. For the most part the development of BTCD has remained mostly "ego" free which is how we'd like to keep it. If development team members can't agree to this, then they have no place on the development team.
Lastly, yes, we are asking for donations. Donations are all being carefully recorded and held by TorrnA, who I can vouch for as a very trustworthy individual. All bounty payments going forward will be completely transparent and divulged to the community.
i never blackmailed any dev i just asked for what i think my work worths so far and future developement, if someone can receive 1k BTCD for this
http://oi61.tinypic.com/33ttet0.jpg i think that i should get more than 0 BTCD for work done and continuig to work here, i yet asked about premine and about 2 weeks ago i was told it was kept for james but now it seems things changed and its not keept, btw the actuall premine was 1.5% from 1.6M coins that should have been in PoW
it would be nice if you kept to the facts. I am so disappointed about this. Funds were being raised so people like yourself could be compensated. Also, I do not remember seeing any posts anywhere about the premine being kept for me! In fact, I have posted several times that the premine was mostly used before I even arrived and also that I wanted the 3500 BTCD offered to me to go to BTCDdev since he wasnt able to get much on the open market. I believe it is quite important for key contributors to be vested
The estimated value of the BTCD that the three got from the premine is <1 BTC for most of the PoW period. If anybody has any problems with this other than yourself, I would be surprised. Now it is curious to me that you are complaining about 1000 BTCD given to what looks to me like professional graphic designer. What was the value at the time? 1000 BTCD today is different than several weeks ago. If you are volunteering to work and then decide you want to become a paid contractor midstream, then this is your decision. Maybe if you had purchased BTCD on the open market when it was cheap like other key contributors (also showing faith in your own project), then some envy over somebody else getting paid would not be an issue?
Care to explain what NXT txid 17945798072342483012 is?
I had sent you 500 NXTprivacy directly as confirmation of your work and while this is not the same as 1000 BTCD, it was also clear that there would be more after work was completed. Whether your work is worth more or less than what some other paid contractor is getting is a judgement call. I trust Azeh's judgement on such matters and since you cannot get over the horrible injustice that you have been subjected to, it is best that you leave. I wish you luck in the future and if you decide to keep posting here, please stay with the facts.
Goodbye.
James
1k was given few days ago so its not much less, i can post skype chat logs about premine keept if you want to see, also i own more than 30k BTCD that is not sold unlike the premine so yes it gives faith here a lot, as for that asset please send me your NXT address and i will return it same second, its not any value for me receiving your assets which it seems you have one for every feature for this coin that is to be released, well maybe, as yet still no sign of anything
EDIT: i never asked for the free asset, but it seems i received it when i questioned the NXT benefits from your work here
please send the NXTprivacy to the donation pool address. I dont know what it is, maybe Azeh does
Also, i think you have things a bit twisted around. I have been working on my assets for all this year, which represents many manyears of ordinary coders and I am putting them inside BTCD and sharing revenues. Since you do not like this, I can make it so your 30K BTCD dont get these dividends. Is that your preference?
Have you seen MGW? It is already one of the top exchanges by daily trading volumes.
Please if you want to start some FUD, just sell all your BTCD now. many were expecting it to drop to .005 and since we are retesting .007 the only way that will happen is for some WH to dump.
To have 2.5% of BTCD and to be acting so petty and jealous over 1000BTCD?
You cannot at the same time be acting the way you are and still expecting BTCD to go up in price. Please dump your BTCD, we want lower prices.
James
