assets entrusted to I3 for purposes of development and marketing
This is them spending it on development. Contract negotiation is a reality... Maybe you disagree with these particular expenditures. I've disagreed with lots of Dan's in the past.
I'll let Dan explain the details when he gets around to it. In the meantime, consider these two facts that have been brought up a few times:
* I gave up $150k / year at Google to work for a fraction of that salary at enormous risk. The other devs are at least as skilled as I am.
* We are the only people on earth capable of delivering on BTS. If we left right now BTS would die, while we could make a viable competitor.
If you think we aren't actors you want to make into vested interests well in excess of what we could buy from working another job, I suggest you lay out what you would need try to build something without us. I guess your alternate PTS is trying to do this, so far all the people actually building this thing seem to just blow it off.
Hey toast, thanks for the reply and no thanks for the hostility. Here's why I made the post, most of which you did not address:
1) I've been asking for this information for weeks with no response - there was no community input or explanation.
2) You keep comparing your Google salary to the amount of money you are being granted for work on BTS. This is so utterly and fundamentally flawed it hurts me to have to explain it, but here goes: Your entire BTS grant is paid to you up-front with no performance evaluation, expectation, roadmap, milestones, or other provable/non-provable/binding/non-binding expectation of any kind. Even your vesting PTS does nothing to incentivize any actual work - you will receive the funds regardless of whether you perform or not.
Forgive me for being skeptical, but I've been around the block a few times. There are at least a dozen different ways this could have been implemented with some
accountability baked in (multi-sig oversight for example). Less importantly, there at least a dozen different ways this could have been communicated, explained, and discussed openly before "granting" donated funds with no strings attached and me finding out about it through the blockchain despite asking openly for weeks.
Edit: Here's a likely scenario. I'm a dev. I take a few hundred thousand dollars and continue to work on BTS occasionally, but also take a full-time paid position as a Google engineer. No expectations, no accountability, no recourse of any kind.