Bitcoin Unlimited Financial Report: 1 June 2016 - 31 December 2016

[Peter R]

Bitcoin Unlimited Financial Report: 1 June 2016 - 31 December 2016

The second half of 2016 was an exciting time for Bitcoin Unlimited. Our organization received 754.360 BTC in donations ($438,380) and earned $270,810 due to appreciation of its bitcoin holdings. Total expenses for the second half were 60.476 BTC ($39,309), resulting in a closing balance on 31 December 2016 of 696.490 BTC ($671,270).

The largest expense in the second half of 2016 was the Satoshi's Vision conference, held 25 September 2016 in San Fransisco. Other expenses included sending key Bitcoin Unlimited members to China to meet with miners, outreach activities such as video editing of select Satoshi's Vision talks, and paying for virtual private servers around the world to study block propagation with Xthin.

The following chart illustrates the flow of funds in to and out of the Bitcoin Unlimited multisig wallet over this time period.

 

[AdrianX]

One has got to enjoy doing accounting with price deflation denominated in BTC, and have expenses evaluated in fiat that are subject to price inflation.

This is the a rather unique situation to have more potential to do work after 6 months of operating costs.

Thanks Peter, I'm thrilled to see the financial summary made public.

 

[awemany]

Awesome, thank you for this detailed break-down @Peter R .
This is nice, clear and concise.

 

[Norway]

I don't get it. We spend money, but get more wealthy?
(Joking)

 

[hodl]

no developer salaries? if so, that's a huge marketing advantage.