Topic: The fate of the leftover fund - page 3. (Read 818 times)

I don't think anyone here knows the answer. I'm just glad I'm not the one who has to make a decision on this: no matter what you do someone is going to be unhappy about it.

There are no "public funds", and there is no democracy involved.

Count me out, I don't want to vote on Other People's Money.

Cases are very different, so it should be viewed separately.


In case of Whirlwind, funds were held in an Escrow by minerjones. Initially, funds were dedicated for Whirlwind's review campaign. Everything went as expected and funds were re-allocated by whirlwind to get an escrow fund to ensure trust as far as I know. There's been a statement from Whirlwind


So, in my opinion these funds are still valid for possible refunds of damaged customers but I would also say if a Bitcointalk community vote was held, funds could be spent otherwise.
It's mainly public funds now. But not exclusively.



In case of ChipMixer, funds were dedicated for weekly rewards of ChipMixer's Signature campaign. The funds served a defined purpose. In addition to that, last round of weekly rewards have been paid but interestingly, the transaction came from a different wallet than usually (usually it comes from 1Chip... wallet). Should be investigated where it came from, maybe there's more.
And as far as I know, only DarkStar_ had access to the wallet, while the wallet was topped up every 5 or 6 weeks by ChipMixer.
A reply from DarkStar_ to clarify where he / she sent the funds and why would be interesting.

After all it's also public funds and the purpose of these funds should happen by a democratic decision of Bitcointalk's community. It's what happens to public funds.
We would only need to decide who's eligible to vote in case of a decision: just campaign participants, in addition to campaign participants certain ranks (Hero / Legendary) or everyone above Member rank / xx Merit earned?  

After all, it's essential to make a fair decision here.
But I'm not the one to decide that, whole Bitcointalk community is.

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So far, not really much has been discussed about it, so it'll get interesting to investigate this.

I don't know about how the escrow deal was arranged but if there's a forfeit involved it's better. There isn't a standard way to carry out escrow business so it's something ppl arrange when fixing terms. Do we know what terms they'd agreed to when the DAI was sent?

Pfft.  I just remember "Chipmixer website seized"-->end of campaign-->I'm outta here.   I can't remember what was last paid as far as campaign weeks go, but personally I don't want any payout from DarkStar_ if it turns out I was owed one.  If other Chipmixer participants want the scraps, take 'em.

Somehow I never really expected there to be anything forthcoming as far as CM is concerned, and DarkStar_ must be in a tight spot.  He's holding onto money that might be watched by the FBI and who knows who else, and unless I'm wrong he's in a "damned if I do, damned if I don't" position.

Whirlwind I've got sweet fuck all to say about, as I never followed their doings.  Interesting thread, OP.

I think escrows and managers should put up a disclaimer saying if money goes unclaimed for a certain period of time, then the companies forfeit the funds. As long as the person who has the funds did their job anyways. We cannot really expect them to just hold the funds for years and hope someone shows up. Just my opinion

In my view, as long as those escrow funds serve their primary purpose, which is settling the debt, I do not think we should sweat the details of what happens with the remainder. That is really in the hands of the escrow team to figure out. they probably have their own policies or guidelines to deal with these situations.

Recently, there has been discussion on what will happen to the leftover fund?

1. We all know whirlwind.money has left no path for a comeback. They aren't active for a long time now. But what they have left; $40k DAI in escrow with minerjones. MJ has already distributed more than half of the funds and is still holding ~$17k. What's going to happen to this? Who will be the owner of this fund if whirlwind never  comes back?

2. ChipMixer has been seized and DarkStar_ said all the outstanding payment will be sent. Has he sent the outstanding payment? I can't see any update on the thread. Nevertheless, there was ~1.30 Bitcoin on the ChipMixer signature campaign escrow address which has been later sent to another address. Who has received the fund?

What will happen to the leftover fund? Why do we really bother what will happen with the fund?

In case of whirlwind, imagine that whirlwind has come back and processed all the withdrawals & asked minerjones to send their fund from escrow back. What if some of the members don't send the fund back? Will some of you compensate minerjones? I guess no. Then why we really should think the fate of the leftover fund? Let escrow decide what will happen.

In case of ChipMixer, DarkStar_ announced of sending the outstanding & he should do that since he was in control of the fund in escrow. After that he has the right to do anything with the leftover fund. We don't have right to decide, do we?

The purpose of this thread isn't to put some sauce on the issue. The issue has been in discussion randomly in ChipMixer ANN thread, in a thread in Meta. That's why I thought of creating a new thread so that users can discuss here instead of being off topic in other discussion.