Minutes of the Regular Meeting of the Board of Directors of The Bitcoin Foundation

 Held: May 24, 2016

Present:

 Vinny Lingham

Francis Pouliot

Elizabeth McCauley

Michael Perklin

 

Absent:

 Brock Pierce

Bobby Lee

 

Staff Present:

Bruce Fenton-Executive Director Amy Loughran-Dolan-Director of Operations Guest observer-Eric Lombrozo

Call to Order and Introductions:

Bruce calls the meeting to order at 11:05

Foundation News:

Kudos to Brock for securing the $55/65k donation. Our budget is so low that it gives us several good months of operating capital. We have been considering some grants to core developers but have found that in talking with them, they may not want it, for political reasons. The research grant proposal is also being viewed as a negative from both core and non core people. We’re still in a tight financial position. Bruce sent all of the Core Developers an email offering way the foundation could help or cooperate with core, one of the developers leaked the email. This is not horrible and there is nothing particularly damaging in the letter, other than that it wasn’t written in a style designed for the public, and that this is not efficient for the process and it also discussed items that are not finalized or in the early suggestion stage.

Budget update/Funding

Bruce would like to open a discussion regarding future staffing, possibly hiring a co-ED etc. Bruce doesn’t feel that he is able to work effectively as ED alone given time commitments and the various challenges we face. In Bruce’s opinion, the options are for the foundation to raise funds for a full time paid staff member, to find someone to serve as co-ED, or to find a replacement for Bruce. Bruce feels that he can only stay on as a standalone ED for two more months. Bruce is not providing official notice right now and would like to work with the board to determine a solution. Elizabeth thanked Bruce for working as a volunteer in the role.

John C, aka “Bitcoin Error Log” has volunteered to work on the foundation website and communications and, with others have suggested a rebranding Francis feels that we should have some introspection as to what we bring to Bitcoin as a community. What do we have to offer going forward. What do we offer now. We have a board meeting, a social media following, a mailing list, the perception by the general public and the media that we are more involved than we actually are. Francis does not think we should be discussing how we spend the money, but how and why we should continue, going forward. The board discussed our interactions with core developers and other members of the community and the role of chief scientist. Elizabeth thinks the key issues the foundation is still not covering is the international component and the dialogue around core development. Michael Perklin gives an update on the Blockchain Training Conference which will be held on June 20-21 in Toronto. Bruce and Francis will attend. Bruce adjourns the meeting at 12:15.

Bruce adjourns the meeting at 12:15.

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05.24.16 Minutes of Regular Meeting of the Board of Directors of The Bitcoin Foundation.