Here is a new post from Vitalik where he is basically opening up some data about the ethereum foundation and trying to reassure shareholders .
However he is admitting the foundation planned hires and other activities naively thinking BTC price would stay at 500$ forever (or maybe thinking it’d go up?) … So now they are facing a complete cash burnout faster than planned.
First of all, it is indeed true that the foundation’s finances are limited, and a large part of this was the result of our failure to sell nearly as much of our BTC holdings as we were planning to before the price dropped to $220; as a result, we suffered roughly $9m in lost potential capital , and a hiring schedule that was meant to last over three years ended up lasting a little under two
Assuming that we get there in three months and that ether and bitcoin prices stay the same (heh), we have enough to last until roughly Jun 2016 at the 340,000 rate, and perhaps up to Sep-Dec 2016 given planned transitions;
This sort of thing shouldn’t happen, and that’s how I think NuBits should be used. It could have prevented a multi-million $ disaster that is threatening to bankrupt one of crypto’s most interesting space.
EDIT: This links should also go in here imho -> Spot an Opportunity to Promote Nu? Post a Link in Here!