Last week Gavin, myself and a small group of bitcoin enthusiasts gathered in Boston for the launch of our DevCore conference series. The focus of DevCore is to “develop the developers” and make the Bitcoin Core project more accessible for people who want to contribute and participate in the open source project. We also wanted to have an open discussion about some of the important issues of the day regarding the development of Bitcoin Core including: standards, a development roadmap to Bitcoin Core v1.0 and whether we need to increase the blocksize.

We would like to thank our sponsors and speakers for helping us make the event a success: Circle, Gem, Blockchain, Pillsbury Winthrop Shaw Pittman, Crypto Currency Certification Consortium, CoinDesk, Inside Bitcoins, Bitcoin Club MIT, College Cryptocurrency Network, Jeremy Allaire, Sean Neville, Micah Winkelspecht, James Gatto, Marco Santori, and Andreas Antonopoulos.

DevCore v1 was an important step forward for the Foundation as we work toward a sustainable business model for the organization. To put this event into context, the single biggest expense for the Foundation in 2014 was the Bitcoin2014 conference which cost just shy of $1mm USD to produce. Unfortunately the event only generated $585K for a loss of ~$350K USD or a loss of nearly $300 per attendee. For comparison sake, Bitcoin2013 cost roughly $415K to produce and lost nearly $40K, or a little more than $30 per attendee.

Our first DevCore conference in Boston on the other hand cost us roughly $13K to produce and resulted in a profit of $5K, or $60 per attendee. Conference revenue can be the life blood of a well run trade association and I’m very excited to see our first proof of concept DevCore succeed. Many thanks to all the staff who made this happen but in particular Helen Disney who took over event production for us and pulled off a terrific event and a key part of our strategy moving forward.

Again, thank you to all of our sponsors, speakers and attendees for making our first DevCore conference a success and I look forward to seeing more of you for DevCore v2 in London.