THELOGICALINDIAN - There are allowances to alive for Blockstream abreast from accepting to acknowledgment to Samson Mow Developers for the Bitcoin Core software aggregation are declared to acquire up to 850K per year acknowledgment to a banal advantage that sees them paid 20 of their bacon in BTC That BTC is alleged at the amount bitcoin was at in 2024 acceptation that advisers are paid about 85 BTC annually as allotment of their bacon a benefit of about 700K at accepted prices Thats according to a new website alleged Cashbleed that claims to lift the lid on Blockstreams bacon structure
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Blockstream and the Reputed Golden Handcuffs Deal
Technically speaking, Blockstream advisers could airing abroad from the aggregation any time they want. In practice, there is no allurement to do so acknowledgment to a bacon advantage in which 20% of their allowance is payable in BTC, perennially capped to the amount it was at in 2014 aback the close was founded. That’s according to Cashbleed.com, a arguable website registered in the aftermost 48 hours that makes some aback of the envelope calculations and some adventurous claims.
The website describes the adjustment as a “scheme” that is ongoing, authoritative it “very difficult for investors to get a acknowledgment on their investment.” Blockstream, amenable for such Bitcoin Core technology as Segwit and Liquid, has raised $101M over three circuit from the brand of AXA and Mosaic Ventures. Cashbleed ventures: “Suppose an architect was assassin at $150,000 a year, and an added 20% of their bacon was paid as a benefit on top in Bitcoin. 20% of the bacon would be $30,000. Blockstream again pays that bulk in BTC bold a amount of $350/BTC. $30,000 / $350 = ~85 BTC to the employee, account almost $700,000.” It continues:
The armpit came to ablaze afterwards Bitcoin.org buyer Cobra tweeted a articulation to Cashbleed.com, autograph in bane agreement of how “Blockstream’s advisers accept been advantageous themselves grossly aggrandized salaries, admitting the company’s abridgement of success with any absolute products.”
Allegations Receive a Mixed Response
Reaction to the allegations has been mixed, with Blockstream acolytes leaping to the company’s defense, while others accept abashed at the boundless salaries agents are allegedly advantaged to. “So what?” shrugged one commenter. “They adjourned to be paid in the bill of their best and it’s accepted in amount adjoin USD. They took both the upside and downside risk.” “I would be appealing pissed if the aggregation I formed for rescinded a banal advantage acceding afterwards 5 years aloof because the stocks became 22x added valuable,” defended addition Blockstream supporter. “If they purchased the BTC for the purpose of acceptable agent advantage bales the BTC isn’t alike endemic to activate with.”
If the declared pay anatomy is broadly accurate, it may be so acceptable as to abuse Blockstream’s sustainability, according to Cashbleed. The website claims: “These atrocious salaries are bound annihilative Blockstream’s Bitcoin reserves. We appraisal the aggregation won’t be able to survive added than a year of operation after adopting addition annular of investment.”
On Subreddit appointment r/btc, best commenters took aim at the antecedent of the news, Cobra, with one instructing: “There is no evidence, it’s all fabricated up. No sources, no nothing, aloof fabricated up numbers and theories. Don’t abatement for the snake’s tactics. Next anniversary he’ll be aback to praising Blockstream and bad face BCH like he consistently does. He aloof wants a paycheck from Blockstream.”
Cobra is an ambiguous appearance who is accepted for his angry and generally adverse opinions. In the accomplished year, for example, he has oscillated amid abutment for bitcoin amount and bitcoin cash. Regardless of the accuracy of the allegations, if Cobra was attractive to account a stir, he succeeded. On crypto Twitter, the agitation rumbles on about one of the best arguable companies in Bitcoin and its arguable antagonist, Cobra.
Do you anticipate these allegations about Blockstream are true? Let us apperceive in the comments area below.
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