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Then replace the board of the Tezos Foundation and force Johann Gevers (foundation board president) to release the audit report investigating the self-dealing h

by relyio 9y ago

Then replace the board of the Tezos Foundation and force Johann Gevers (foundation board president) to release the audit report investigating the self-dealing he is accused of. FYI, Tezos (self-amending ledger, one of the largest commercial application of OCaml) has raised ~250 million dollars in July. The funds were supposed to go toward funding the ecosystem, development, and so on. Unfortunately, the founders of the project made a terrible call early on and selected a bad apple (JOHANN GEVERS) to become chairman of the foundation holding the fundraiser/ICO proceedings. After some digging, frustrated community members found out that this guy has a long track record of failed ventures and what some would call very sketchy behavior. He's the self-appointed "visionary" kind if you want know what I mean (not kidding that's from his website). The project is developed by an independent company owned by the founders so it is still under development (https://gitlab.com/tezos/tezos/activity https://gitlab.com/tezos/tezos/activity) despite that foundation issue. The Tezos Foundation hasn't communicated in months. They are sitting on close to a billion dollars of donations and broke their fiduciary duty to spend the money on development. Research this, it is completely nuts. Some links to start: https://www.reddit.com/r/tezos/comments/7kzbm9/the_story_and_voice_of_the_tezos_community/ https://www.reddit.com/r/tezos/comments/7kzbm9/the_story_and... https://www.reddit.com/r/tezos/comments/7qt548/the_true_history_of_johann_gevers/ https://www.reddit.com/r/tezos/comments/7qt548/the_true_hist...

homakov 9y ago
Not feeling pity for someone who raised hundreds times more than needed, yet failed to deliver ("16 Aug 2017 - Tezos network launches"). Not getting access to 500 millions (at today's market caps actually) is a reason they can't manage to write some code on time? Doubt so.
almostApatriot1 9y ago
Tezos was set up in a way to avoid any sort of regulatory scrutiny. Remember the ICO wasn't an ICO. It was a 'donation' in which no obligations were promised toward the donators. They can't change their minds later and cry about it when Breitman wants to try to implement a takeover.
549362-30499 9y ago
There's something pretty rich about asking the government to intervene in a project described as: Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. Especially one that, according to your links at least, has been defrauded by its radical libertarian and Ayn Rand acolyte leader. Is this not the free market merely deciding that the people who donated have poor judgement?
- superquest 9y ago
  > a true digital commonwealth. That is hysterical.
- stale2002 9y ago
  You have interpreted libertarian philosophy incorrectly. Libertarians are absolutely in favor of using court systems to sue people for fraud. The belief in contract enforcement, and stopping fraud is a defining feature of libertarians.
  - jnbiche 9y ago
    For some reason you're getting downvoted, but clearly people have some misconceptions about libertarianism, perhaps confusing it with anarcho-capitalism. I'd agree that contract enforcement (including to combat fraud) along with the non-aggression principle, are the primary defining principles of libertarianism, regardless of the particular school or wing of libertarianism in discussion.
    - X86BSD 9y ago
      They do. He is exactly right, Libertarians believe in STRONG property rights. Which are the foundation of all rights. I have come to realize the left is ignorant to the extreme. On guns, immigration, law, libertarian philosophy. It always comes down to those who understand the issue and arguing with the left who is uninformed.
    - em3rgent0rdr 9y ago
      Even anarcho capitalists may support a p2p court system to combat fraud. Anarcho-Capitalism does not mean lawlessness and chaos.
animex 9y ago
Translation: A bunch of 20-something kids thought they could handle complex international legal business structure. No.
20171026 9y ago
https://www.finews.com/news/english-news/29947-monetas-bankrupt-tezos-johann-gevers https://www.finews.com/news/english-news/29947-monetas-bankr... The couple now accuses Gevers, who also invested in the ICO, of helping himself to an outsize bonus from the proceeds. Gevers remains the foundation head, and is poised to emerge from the conflict as the unexpected winner, as finews.com reported last week.

by relyio 9y ago

homakov 9y ago

Not feeling pity for someone who raised hundreds times more than needed, yet failed to deliver ("16 Aug 2017 - Tezos network launches"). Not getting access to 500 millions (at today's market caps actually) is a reason they can't manage to write some code on time? Doubt so.

almostApatriot1 9y ago

Tezos was set up in a way to avoid any sort of regulatory scrutiny. Remember the ICO wasn't an ICO. It was a 'donation' in which no obligations were promised toward the donators. They can't change their minds later and cry about it when Breitman wants to try to implement a takeover.

549362-30499 9y ago

There's something pretty rich about asking the government to intervene in a project described as: Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth. Especially one that, according to your links at least, has been defrauded by its radical libertarian and Ayn Rand acolyte leader. Is this not the free market merely deciding that the people who donated have poor judgement?

superquest 9y ago
> a true digital commonwealth. That is hysterical.
stale2002 9y ago
You have interpreted libertarian philosophy incorrectly. Libertarians are absolutely in favor of using court systems to sue people for fraud. The belief in contract enforcement, and stopping fraud is a defining feature of libertarians.
- jnbiche 9y ago
  For some reason you're getting downvoted, but clearly people have some misconceptions about libertarianism, perhaps confusing it with anarcho-capitalism. I'd agree that contract enforcement (including to combat fraud) along with the non-aggression principle, are the primary defining principles of libertarianism, regardless of the particular school or wing of libertarianism in discussion.
  - X86BSD 9y ago
    They do. He is exactly right, Libertarians believe in STRONG property rights. Which are the foundation of all rights. I have come to realize the left is ignorant to the extreme. On guns, immigration, law, libertarian philosophy. It always comes down to those who understand the issue and arguing with the left who is uninformed.
  - em3rgent0rdr 9y ago
    Even anarcho capitalists may support a p2p court system to combat fraud. Anarcho-Capitalism does not mean lawlessness and chaos.

animex 9y ago

Translation: A bunch of 20-something kids thought they could handle complex international legal business structure. No.

20171026 9y ago

https://www.finews.com/news/english-news/29947-monetas-bankrupt-tezos-johann-gevers https://www.finews.com/news/english-news/29947-monetas-bankr... The couple now accuses Gevers, who also invested in the ICO, of helping himself to an outsize bonus from the proceeds. Gevers remains the foundation head, and is poised to emerge from the conflict as the unexpected winner, as finews.com reported last week.