Given the responses I feel that I need to respond to this:
The reputation of the brand is indeed at stake with this motion and has always been after it passed. This grant does nothing to change that. The reputation is at stake either way so I’m not damaging the brand more than is already happening with Shareholders accepting this kind of things to happen. When the next grant can’t be paid by the network at some stage due to the open cheque book the reputation damage will be significant and will lead to diaster. Can we afford that? No, I don’t think so. Are we taking that hit now or later? Human psychology will always try to postpone a risk even if it significantly increases over time. However it is not the rational and right thing to do. So I’m taking this risk now to reduce further more significant damages in the future.
Should I work with the Shareholders to set us up for disaster? I feel the contract is setup to create this controversy in the first place. By continuing to endorse this behaviour others might feel compelled to display similar risky behaviour and further increase the risk of damaging the brand and the network. I’m very disappointed that the apparent majority doesn’t seem to see that this is setting a very dangerous precedent and that we are on the wrong track.
I’m doing and will continue to do more than my fair bit to make this network a success and will continue to comply to my existing and future Shareholders obligations, but in my opinion there shouldn’t be limitless consequences in any proposal or motion as with this proposal.
I might have to pay the ultimate consequence for this and sell my shares or withdraw them from minting. I need to think about this and whether I should take the lead in raising a motion, however the wording will have to be immensely balanced as it would otherwise damage the brand whether it is voted for or not. I think we have put ourselves in a very difficult position.
I think only Henry can take us out of this by proposing amendments and bringing his otherwise excellent operations into normal contractual control.
So we do have indeed a serious problem and yes I’m feeling the pressure…
And just reiterating,
Shareholders who voted for the initial motion are obliged to vote for this grant without any hesitation. Anyone not doing so is indeed putting the network reputation and credibility at stake. No second thoughts and prepare for the consequences if you don’t! I’m expecting of you that this passes very quickly and convincing in at least a similar way as the motion.