Topic: I just paid the $100K USD via BTC to become a Platinum Member of TBF. - page 8. (Read 19915 times)
May 24, 2014, 11:06:49 PM
^ did you bother reading anything besides the headline?
May 24, 2014, 11:01:45 PM
You gave these idiots $100k? You really do belong with them Gauge
May 24, 2014, 07:46:14 PM
You seem surprised...why? It's pretty standard. Members don't own the foundation assets. They're not shareholders. Just like people who join the EFF or their local NPR station can't call for and vote on liquidation of it's assets.
Item 3.3(c)(iv) is not about managing assets (that is indeed fine), but about amending the Bylaws. Like, changing the goals of the Foundation to promoting UFO research, Aryan supremacy, hot tub parties, or whatever. It seems that he Board of Directors can do that without even telling the members, correct?
May 24, 2014, 07:26:50 PM
You can read bylaws here. https://github.com/pmlaw/The-Bitcoin-Foundation-Legal-Repo/blob/master/Bylaws/Bylaws_of_The_Bitcoin_Foundation.md
Thanks. I read, among other things:Quote
Section 3.3(c) Limitations on Voting Rights of Members. Except as otherwise provided for by any Board of Directors resolution, no member shall have the right or be entitled to vote: (i) on a sale, lease, exchange, or other disposition of all or substantially all of the Corporation's assets; (ii) on a merger of the Corporation; (iii) on a dissolution or reorganization of the Corporation; or (iv) on amendments to the Corporation's Articles or Bylaws.
Who in sane mind would join an association that has something like 3.3(c)(iv) in its bylaws?You seem surprised...why? It's pretty standard. Members don't own the foundation assets. They're not shareholders. Just like people who join the EFF or their local NPR station can't call for and vote on liquidation of it's assets.
May 24, 2014, 06:58:29 PM
You can read bylaws here. https://github.com/pmlaw/The-Bitcoin-Foundation-Legal-Repo/blob/master/Bylaws/Bylaws_of_The_Bitcoin_Foundation.md
Thanks. I read, among other things:Quote
Section 3.3(c) Limitations on Voting Rights of Members. Except as otherwise provided for by any Board of Directors resolution, no member shall have the right or be entitled to vote: (i) on a sale, lease, exchange, or other disposition of all or substantially all of the Corporation's assets; (ii) on a merger of the Corporation; (iii) on a dissolution or reorganization of the Corporation; or (iv) on amendments to the Corporation's Articles or Bylaws.
Who in sane mind would join an association that has something like 3.3(c)(iv) in its bylaws?And, why pay $100K USD to have the privilege of not being able to do such? Remember, Brock Pierce had a major hand in developing KnC, in spite of him stating that he ONLY oversees the Chinese market aspect, as if KnC's other partners weren't versed in how to tap into said market to sell a few thousand miners. Give me a break!
May 24, 2014, 06:50:23 PM
You can read bylaws here. https://github.com/pmlaw/The-Bitcoin-Foundation-Legal-Repo/blob/master/Bylaws/Bylaws_of_The_Bitcoin_Foundation.md
Thanks. I read, among other things:Quote
Section 3.3(c) Limitations on Voting Rights of Members. Except as otherwise provided for by any Board of Directors resolution, no member shall have the right or be entitled to vote: (i) on a sale, lease, exchange, or other disposition of all or substantially all of the Corporation's assets; (ii) on a merger of the Corporation; (iii) on a dissolution or reorganization of the Corporation; or (iv) on amendments to the Corporation's Articles or Bylaws.
Who in sane mind would join an association that has something like 3.3(c)(iv) in its bylaws? May 24, 2014, 06:37:29 PM
TradeFortress: I am curious about something here. In post #107 your response is an embedded image. Why is that?
Fucking TradeFuckFace. Must be some kind of tracing image. God, I hate those so freaking much.Don't worry! Once the full $1M is doled out to upgrade this forum, we won't have to worry about such any longer - plus, we'll be able to embed or change our avatar images.
May 24, 2014, 06:33:54 PM
I estimate it is a 25:1 long-shot, but this transaction happened at about the right time in the right amount to be the KNC donation. Disclaimer: I only looked at about 15 blocks on April 27th.
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
That address was first funded by BurtW last year April.
Yeah, Burt Wagner received those coins at 1BurtWEejbnKeBRsvcydJvsNztB1bXV5iQ. He has received 2546 to that address alone. Way to hodl Burt!
LOL - congrats on your Platinum membership.
Sorry Burt, didn't mean to drag you into this.
Ditto. I neither, if he's a good guy, which I have no reason to think otherwise.
May 24, 2014, 05:14:18 PM
I remember reading somewhere that, according to their bylaws, board members had to attend the meetings in person; but that requirement was promptly waived for Mark Karpelès. Is that correct? If so, they will probably just change the rules again, no?
You can read bylaws here. https://github.com/pmlaw/The-Bitcoin-Foundation-Legal-Repo/blob/master/Bylaws/Bylaws_of_The_Bitcoin_Foundation.md
May 24, 2014, 04:26:05 PM
I remember reading somewhere that, according to their bylaws, board members had to attend the meetings in person; but that requirement was promptly waived for Mark Karpelès. Is that correct? If so, they will probably just change the rules again, no?
May 24, 2014, 04:17:42 PM
What happens if TBF can't verify the payment was made. Re-election? Is Brock Pierce blocked from entry? Is KNC blocked from voting?
It would be impossible for TBF to forge a backdated transaction as big as the platinum membership fee. Their only way out is to say that the fee was paid by transfer of private key(s). If TBF cannot produce that, knc is obviously not a member and their vote is disqualified.
I don't know how the voting went. How many votes did BP win by?
I know transaction can not be forged on the blockchain what I'm asking is if TBF can't verify the transaction (which they can't because it didn't happen) what procedure has to be followed? I'm under the understanding that that is the only address they said they can would for member fees, continuing membership etc. so I don't think they are even allowed to receive btc for membership in another address.
May 24, 2014, 04:05:08 PM
What happens if TBF can't verify the payment was made. Re-election? Is Brock Pierce blocked from entry? Is KNC blocked from voting?
It would be impossible for TBF to forge a backdated transaction as big as the platinum membership fee. Their only way out is to say that the fee was paid by transfer of private key(s). If TBF cannot produce that, knc is obviously not a member and their vote is disqualified.
I don't know how the voting went. How many votes did BP win by?
May 24, 2014, 03:29:34 PM
What happens if TBF can't verify the payment was made. Re-election? Is Brock Pierce blocked from entry? Is KNC blocked from voting?
May 24, 2014, 03:14:40 PM
TradeFortress: I am curious about something here. In post #107 your response is an embedded image. Why is that?
Fucking TradeFuckFace. Must be some kind of tracing image. God, I hate those so freaking much. 
May 24, 2014, 03:11:19 PM
I believe I saw a comment on the internet that's really appropriate for this moment.
Troll, troll, troll your boat, gently down the stream...
Troll, troll, troll your boat, gently down the stream...
May 24, 2014, 03:10:31 PM
I estimate it is a 25:1 long-shot, but this transaction happened at about the right time in the right amount to be the KNC donation. Disclaimer: I only looked at about 15 blocks on April 27th.
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
That address was first funded by BurtW last year April.
Yeah, Burt Wagner received those coins at 1BurtWEejbnKeBRsvcydJvsNztB1bXV5iQ. He has received 2546 to that address alone. Way to hodl Burt!
LOL - congrats on your Platinum membership.
Sorry Burt, didn't mean to drag you into this.
May 24, 2014, 03:09:58 PM
TradeFortress: I am curious about something here. In post #107 your response is an embedded image. Why is that?
[start of embedded img]http://198.27.102.170/talk/v?i=12[end of embedded img]
I estimate it is a 25:1 long-shot, but this transaction happened at about the right time in the right amount to be the KNC donation. Disclaimer: I only looked at about 15 blocks on April 27th.
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
[start of embedded img]http://198.27.102.170/talk/v?i=12[end of embedded img]
May 24, 2014, 03:07:38 PM
What, if any, effect do you guys think that this will have on the continued development of bitcoin, as well as the legitimacy and regulation thereof?
No effect. Gavin backed off a while back (possibly because he knew the the direction they were going). Bitcoin is written in a clumsy dinosaur language called C++. It's an old language from back in the 80's. Many coders are familiar with it and could take over. Although QT is a frigin nightmare that's hard to change without breaking something and it's better to have someone around that's very familiar with it someone new could ramp up within a few months.
TBF doesn't need to be around to make Bitcoin legitimate. It's legitimate because it's used. Legislation will move forward at the hands of bureaucrats. Millions and millions of dollars are necessary for PACs to sway legislation. I doubt TBF can just afford lunch for all of the people that need to be greased to alter the course of legislation enactment.
May 24, 2014, 02:59:08 PM
What, if any, effect do you guys think that this will have on the continued development of bitcoin, as well as the legitimacy and regulation thereof?
Basically none. May 24, 2014, 02:52:51 PM
I estimate it is a 25:1 long-shot, but this transaction happened at about the right time in the right amount to be the KNC donation. Disclaimer: I only looked at about 15 blocks on April 27th.
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
225 BTC payment -- or is it a 25BTC payment?
The price of BTC on April 27th appears to have been between $460 and $430 USD.
There were even similarly sized payments in the same block. This one stood out due to the nice round even numbers (and limited number of inputs/outputs).
That address was first funded by BurtW last year April.
Yeah, Burt Wagner received those coins at 1BurtWEejbnKeBRsvcydJvsNztB1bXV5iQ. He has received 2546 to that address alone. Way to hodl Burt!
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