Memo to Ethereum Foundation Council: impudence begins with calling your investors “donors”

Kelley Becker, deputy assistant to Jeffrey Wilkes of the Ethereum Foundation Council, just called ethereum investors “donors” in a skype chat leaked by (former?) ethereum employee Matt Liston.  Tellingly, Becker did this “straight” — no humor intended.

Backstory: (skype chat transcript) (reddit peanut gallery commenting on chat transcript)

From the skype pasta:

[5/15/15, 11:58:16 AM] Matt Liston: Ethereum has plenty of investors
[5/15/15, 11:58:35 AM] Kelley Becker: Donors
[5/15/15, 11:58:39 AM] Kelley Becker: Not investors

Kelley is assistant to Jeffrey Wilcke, who sits on the foundation council, the “boss” here, who later in the thread called Matt out for impudence and ejected him from the thread.

Ethereum’s own wikipedia page contradicts this “donation” language, calling the ethereum crowdfund what it is… a sale: *

Or, from first principles: a donation is when you give something and don’t get anything back.  In a sale you get something back.  This was a crowd sale.  It’s common in prostitution also to call the payment a “donation.”  But squirmy tricks with language don’t actually change the meaning of the language.

Ethereum foundation needs a competent PR agency, if they have any bitcoin left.  But it is probably be too late at this point.

If the idea behind ethereum has any merit I suppose the useful aspects will survive in some form, perhaps with the code migrating into a side chain in some hand-wavy future.

But unless the leadership can pull a rabbit out of an increasingly deflated hat, the token known as “ethereum” at this point is pretty much done.

Perhaps the same can be said of alt-mined dev tokens as a class.

* “In order to raise funds for development of Ethereum to the release of the genesis block and beyond, the Ethereum foundation conducted a sale of Ether to the public, during which anyone could buy Ether in exchange for Bitcoin at a rate of 1337 to 2000 ETH per BTC, with earlier purchasers getting better rates.”


About thomashartman1

I am a crypto currency enthusiast, trader, and software developer. Contact: thomas AT standardcrypto DOT com.
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One Response to Memo to Ethereum Foundation Council: impudence begins with calling your investors “donors”

  1. Pingback: Sunday 14th June | weekly global research

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