Development Fund Misappropriation Exposed



  • As the voice of the Dev Team currently working on the Core-Wallet I call for a vote of no confidence in Focus' ability to handle development funds. This is based upon a comment made to all developers in Discord (the primary communication tool).

    "[4:49 PM] Focus: Hello iceburst,

    I would like to know what you are basing your assumptions of milestone on?

    First of all, I do not take kindly with poeple calling me a liar. You know damn well that you did in fact participate in trying to short the coin and then you just sent more funds to your wallet to make it look as if you didn't. I asked you to prove your innocence by screensharing and showing me your trades, but you did not do so, instead you called me a liar, further proving your guilt.

    Second of all, I have re-assessed the Core Development fund, at the time it was calculated, it came out to be $8,000 and it will continue to be so. Milestones will be calculated at current rate towards the percentage of $8000 paid out. Since we are on core development, do you seriously feel we have reached a milestone, development has been stagnant and you did what in this whole last week? Merge 3 requests and change some constatnts?

    Lastly, the brunt of the work is currently being shouldered by catbref and yet he has never asked for a single penny. I litterally have to shove them in his wallet. On the other hand, you are the only "dev" that comes in here basically begging for money. Are you in it for the right reasons? I ask you this because I have done a lot of dev in different forms and not once have I gotten paid for anything in the past year... Furthermore, you just went to the community for a crowdfund that you claim was feed a developper, of which it was fulfilled to the tune of $600 and yet here you are asking for more. I again repeat, every other dev in here I have to force payment on them, for god's sake @fusecavator has not even sent me his wallet address yet so I can pay him...

    Having said all this, my position is the following: In light of all these developments, you are free to remain on the core dev project but be advised that it will be without renumeration from the BurstNation dev fund. If crow wants to pay you then that is his perrogative"

    The above statement was posted by Focus as a response to the following:

    [9:53 AM] IceBurst: I'm requesting a 10% incremental payout for the team based on progress of the 1.11+ Wallet
    [10:42 AM] IceBurst: @Focus I'm also requesting acknowledgement of my statements in this channel

    I'll address each of his bullet points in a logical fashion and then I'll ask the community to take action. Either demand the funds currently controlled by Focus be turned over to an agreeable member of the community or tell me I am completely off base and I will gladly step down from the Core Wallet team.

    Item 1) I would like to know what you are basing your assumptions of milestone on?
    I am an experienced developer with 20+ years of professional experience, I coded the entire Android Plotter and Miner from scratch and understand the Burst platform to the very core. We have successfully taken the NXT 1.11+ code base an adapted it to the current live 1.2.8 Burst chain and performed complete syncs. We recently completed the set reward assignment for pool mining and addressed issues with the H2 database. As you may or may not know working with a database that was generated nearly three years ago trying to get to properly sync with a modern version is challenging in itself. Do you recall any of the issues we fought with like a miscoded SHABAL algorithm, Milestone/Constant blocks that created roadblocks, B1 protocols missing, and even the generation of simulating the Genesis block. We have only claimed a 20% completion on the entire project. That is how I'm establishing my milestone.

    Item 2) First of all, I do not take kindly with poeple calling me a liar. You know damn well that you did in fact participate in trying to short the coin and then you just sent more funds to your wallet to make it look as if you didn't. I asked you to prove your innocence by screensharing and showing me your trades, but you did not do so, instead you called me a liar, further proving your guilt.
    I'm not sure what the recent inflation in coin value has to do with Development but if you recall you yelled and stated "I have to go" and hung up on me. I did send you a screen shot of my polo account showing the coins and everyone has the ability to see that I still have coins in my wallet as well. I have nothing more to "prove" to you, I am aware that you have asked multiple members of the community to corroborate my involvement in the price resistance. I find what I choose to do with my own coins irrelevant for the discussion of paying the Devs.
    Item 3) Second of all, I have re-assessed the Core Development fund, at the time it was calculated, it came out to be $8,000 and it will continue to be so. Milestones will be calculated at current rate towards the percentage of $8000 paid out. Since we are on core development, do you seriously feel we have reached a milestone, development has been stagnant and you did what in this whole last week? Merge 3 requests and change some constatnts?
    The value to be paid to the team was a sum of 2m Burst, there was never a fiat conversion discussed. Your ability to render the math when it suites you amazes me. There was no request for a reassessment, we agreed at a value of 2million burst. For the 2nd part of your question, "What did you do?" please see the paste bin associated with #4 below for full details of pieces and parts that I have worked on.

    Item 4) Lastly, the brunt of the work is currently being shouldered by catbref and yet he has never asked for a single penny. I litterally have to shove them in his wallet. On the other hand, you are the only "dev" that comes in here basically begging for money. Are you in it for the right reasons? I ask you this because I have done a lot of dev in different forms and not once have I gotten paid for anything in the past year... Furthermore, you just went to the community for a crowdfund that you claim was feed a developper, of which it was fulfilled to the tune of $600 and yet here you are asking for more. I again repeat, every other dev in here I have to force payment on them, for god's sake @fusecavator has not even sent me his wallet address yet so I can pay him...

    You are correct Catbref is performing the largest share of the work and as such he is receiving the largest percentage (39%) as determined by the entire team. The percentages were posted publicly in the Dev channel and all Devs that were active at that time agreed to the percentages.

    I'm posting a link to pastebin.com where individuals that are interested in seeing how the developers worked together and the contributions of each can be reviewed

    https://pastebin.com/ptJRSK5H

    To shove coins into others wallets might be a wee bit of an over exaggeration. I cannot prove this statement publicly as I will not share any private message between myself and other Devs without discussing it with them first.
    My crowd fund was independent of the Core-Wallet, I specifically stated what the coins would be used for and I plan on completing my social experiment in the next week. If I was a Trash-Man I would have called it "FeedATrashman". At the time of the Crowd Fund the total burst was valued at $140. My contribution to the Burst community exceeds the majority of those involved;. Projects I have worked on include but is not limited to, the Price tool on BurstNation.com, The Prediction Tool on Burst Nation.com. The BTC to Burst Gateway, The Android Wallet, Miner and Plotter, and The BNR Asset PSA and sometimes being the voice of the Dev team on the weekly Live Stream. I typically receive many "Thank Yous" from members of the community in threads or PMs/DMs and they often don't know how to say thank you, I simply provided a vehicle.

    The funds raised to pay for the Core Wallet project were not raised by BurstNation.com as the wallet makes it appear but instead were transferred to Focus to be managed, most funds were donated by long standing members of the community as assets or direct burst coins..

    I now ask the members of the community to voice your opinion on this matter and cast a vote. "Transfer the Funds" or "IceBurst You're Wrong"; it must be resolved. There is no middle ground as Focus' comment is clear, I shall not be paid for any work completed on the Core since 4/25 or any future work.. I see this as a potential threatening situation to our coins future development.

    -IceBurst
    Just Another Expendable Dev



  • where would the funds be transferred?



  • @IceBurst said in Development Fund Misappropriation Exposed:

    The funds raised to pay for the Core Wallet project were not raised by BurstNation.com as the wallet makes it appear but instead were transferred to Focus to be managed, most funds were donated by long standing members of the community as assets or direct burst coins..

    So basically you are saying it came from the Development Fund for Burst in the first place? If this is the case those funds should not be anywhere near Focus or Adam IMHO!



  • @IceBurst you aint wrong, they're miss using the funds, I just want to quote this response I got from adam guerbuez as a reminder to all what he thinks like :

    "@z0rius hahaha! You disrespect me and my empire, Now you come at me asking for advice? How about you go ask your shitforum buddies for $BURST tips pic.twitter.com/HCjz8qjsxS"

    Let me help you guys, like here we're a community, over their its just a empire controlled by a dictator...



  • I donated 100k BURST to the development fund... I did NOT do that to have those funds go into Adam's Ponzi or be controlled by his right hand man (which means it will probably eventually go into the Ponzi).



  • Wow I just read through your pastebin of the discord conv and before anything I must say that your input in development is very commendable ! and of other dev's as well ofcourse. for me it's quite hard to fathom sometime just what goes on behind the screen, but this gave me a good indication.

    That being said, I think the info you provided speaks for itself, and in retrospect on all the 'movements' in burst lately regarding price manipulation I think it would be a safe bet to not let those funds be with the right-hand man (Props to @burst1 ) who orchestrated it.

    Might be an unfair conclusion for now, so I'm really curious of Focus's side of the story as well.
    Thanks for speaking up!



  • @gpedro said in Development Fund Misappropriation Exposed:

    @IceBurst said in Development Fund Misappropriation Exposed:

    The funds raised to pay for the Core Wallet project were not raised by BurstNation.com as the wallet makes it appear but instead were transferred to Focus to be managed, most funds were donated by long standing members of the community as assets or direct burst coins..

    So basically you are saying it came from the Development Fund for Burst in the first place? If this is the case those funds should not be anywhere near Focus or Adam IMHO!

    That is correct, the funds were raised before Burst Nation was ever online. I could list some of the larger donators but I feel that excluding a single donator (no matter how small the contribution) is unjust to not represent that individual. If someone would like to look at the transactions into the DevFund (burst and assets) and compile a complete list with dates I believe it would only support the cause in showing the origins of the funds.

    -IceBurst



  • From Focus:

    "Development fund, at the time it was calculated, it came out to be $8,000 and it will continue to be so. Milestones will be calculated at current rate towards the percentage of $8000 paid out."

    Someone expand on this. And just to use round #s...

    Is he basically saying when he received the development fund it was calculated at $8,000 USD (with BURST at 100 sats lets say). Now that BURST has grown to 500 sats and the development fund worth $40,000 USD (again just to use simple #s)... the fund is still going to be valued at $8000?! So there is a magic float of $32,000 USD that is going into someone else's pockets?

    I didn't have time to read the whole post, so maybe there's more... but someone please clarify that.



  • This is a copy and paste from BurstNation, wanted to make sure I kept everyone amused

    Focus Said:
    "Ummm Iceburst stop lying. 100% of those funds were obtained by me and noone in the community. Everyone please look at the transactions and oust this greedy prick.

    IceBurst Responded:
    ​I wish I could buy you a shovel as you continue to dig a hole deeper and deeper. Here is a copy of the transaction log as you asked for it. It clearly shows nameless donated the majority of the assets that you sold off. That is not the definition of obtaining funds."

    You can see from the complete transaction log that the majority of the funds (over 3m Burst) were a combination of deposits from @Crowetica nd the selling of 402 shares donated by @nameless (2m Burst in Sales).

    Could you please explain what you did to obtain funds? What I see is someone that took deposits and sold assets. I'm glad you have resorted to name calling is shows were operating with the emotional level of a 6 year old.

    Please see proof here, the entire transaction Log:

    Date Type Amount Fee Account
    5/15/2017 19:32:44 Ordinary Payment 10'000 1 BURST-YQFX-X5K7-UCER-8SMMW
    5/15/2017 12:47:25 Asset Transfer 0 1 BURST-SJFC-FGT4-YCJU-GRD32
    5/11/2017 12:25:54 Ordinary Payment 150'000 1 BURST-ZPPL-BV2U-VVZN-8DJX7
    4/25/2017 19:49:38 Ordinary Payment 9'000 1 BURST-LJHJ-3U37-DYEQ-EKXHE
    4/25/2017 19:49:50 Ordinary Payment 19'000 2 BURST-ZPPL-BV2U-VVZN-8DJX7
    4/25/2017 19:50:15 Ordinary Payment 39'000 4 BURST-BREF-ZBDZ-YDZU-7MNHM
    4/25/2017 19:50:05 Ordinary Payment 29'000 3 You
    4/25/2017 15:25:15 Ordinary Payment 150'000 2 BURST-ZPPL-BV2U-VVZN-8DJX7
    4/25/2017 15:16:06 Ordinary Payment 200'000 20 BURST-P799-K4RR-J33A-2C4TM <-- Deposit from Crow
    4/25/2017 15:14:44 Ordinary Payment 450'000 4 BURST-XEUW-JCYX-BSQ6-4ACRF <-- Deposit from Crow
    4/24/2017 14:09:41 Ordinary Payment 500 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/24/2017 13:22:35 Ordinary Payment 500 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/24/2017 12:28:10 Ordinary Payment 999 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/24/2017 12:24:34 Ordinary Payment 500 1 BURST-G4LV-7LS8-CVDP-6P3MX
    4/24/2017 12:19:55 Ordinary Payment 1'000 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/24/2017 10:43:54 Ordinary Payment 1'000 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/23/2017 07:00:50 Ordinary Payment 38'000 4 BURST-ZPPL-BV2U-VVZN-8DJX7
    4/23/2017 07:00:04 Ordinary Payment 78'000 1 BURST-BREF-ZBDZ-YDZU-7MNHM
    4/23/2017 07:00:26 Ordinary Payment 58'000 1 You
    4/23/2017 07:02:12 Ordinary Payment 18'000 1 BURST-LJHJ-3U37-DYEQ-EKXHE
    4/22/2017 13:31:27 Ordinary Payment 2'500 1 BURST-ZDKQ-BK92-67A5-DGENX
    4/22/2017 12:52:30 Ordinary Payment 100 1 BURST-CYKU-RQYQ-8LW8-C5P28
    4/22/2017 12:51:47 Ordinary Payment 25 1 BURST-ZDKQ-BK92-67A5-DGENX
    4/22/2017 07:12:26 Ask Order Placement 0 1 / <-- Sold 402
    4/21/2017 06:44:48 Ask Order Placement 0 1 / <-- Sold 402
    4/21/2017 06:05:48 Ordinary Payment 40 1 BURST-ZDKQ-BK92-67A5-DGENX
    4/20/2017 19:36:18 Ask Order Placement 0 1 / <-- Sold 402
    4/20/2017 17:11:08 Ask Order Placement 0 1 / <-- Sold 402
    4/20/2017 16:47:05 Ordinary Payment 8'100 1 BURST-KZQV-7L7K-89K6-HXFGP
    4/20/2017 14:48:12 Ask Order Placement 0 1 / <-- Sold 402
    4/20/2017 14:57:10 Ordinary Payment 250'000 2 BURST-BREF-ZBDZ-YDZU-7MNHM
    4/20/2017 14:41:02 Ordinary Payment 250'000 2 BURST-P799-K4RR-J33A-2C4TM
    4/20/2017 14:42:11 Arbitrary Message 0 1 BURST-P799-K4RR-J33A-2C4TM
    4/20/2017 14:40:05 Ordinary Payment 500'000 5 BURST-XEUW-JCYX-BSQ6-4ACRF <-- Deposit from Crow
    4/12/2017 06:59:39 Ordinary Payment 10'800 1 BURST-KZQV-7L7K-89K6-HXFGP <-- Dividend Payment from 402
    4/6/2017 09:11:15 Ordinary Payment 1'800 1 BURST-KZQV-7L7K-89K6-HXFGP <-- Dividend Payment from 402
    4/5/2017 01:51:25 Ordinary Payment 3'600 1 BURST-KZQV-7L7K-89K6-HXFGP <-- Dividend Payment from 402
    4/2/2017 17:07:51 Ordinary Payment 2 1.0001 BURST-7B5Q-7AZQ-JX4S-6HWUL
    4/2/2017 17:57:09 Ordinary Payment 7'200 1 BURST-KZQV-7L7K-89K6-HXFGP <-- Dividend Payment from 402
    3/30/2017 06:40:31 Ordinary Payment 8'000 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/26/2017 13:39:30 Ordinary Payment 18'000 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/15/2017 18:22:29 Ordinary Payment 9'000 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/11/2017 02:20:40 Ordinary Payment 9'000 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/6/2017 15:57:17 Ordinary Payment 10'000 1 BURST-FK9X-CMV2-4Q7Q-C4P4S
    3/6/2017 11:15:03 Ordinary Payment 5'400 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/3/2017 18:12:30 Ordinary Payment 5'100 1 BURST-Z7AL-ER7M-JVDS-GJLG9
    3/2/2017 16:42:56 Asset Transfer 0 1 BURST-KZQV-7L7K-89K6-HXFGP <-- 402 Transfered in from Nameless (1m shares)
    Transaction: 10731316662618924209
    3/2/2017 16:36:12 Account Info 0 1 /
    3/2/2017 16:33:01 Ordinary Payment 2 1 BURST-8Q7P-TYJT-HV3E-BGZWS

    -IceBurst


  • admin

    @IceBurst I did not donate to that development fund, so guess i have no vote anyway ... what i would suggest as 'neutral', is that it should be in the hand of a developer ... they can judge best in this case, what to do with it and who should be rewarded.


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