[Osmf-talk] Treasurer's Report for the 2018 AGM

Ivo Stankov ivo at e-stankov.com
Wed Dec 12 07:12:05 UTC 2018


Hi Frederik,
 
> I would have preferred to exchange everything at the good rate we got at
> the time. But after we had exchanged the bulk of the BTC I thought ok,
> we can afford to wait for a better exchange rate. With hindsight, maybe
> we should have sold the 3 BTC for £6k/BTC (which was, IIRC, the rate
> available). But now we'll just keep it and see if it picks up again. Is
> that what you meant by a speculation slippery slope ;)

Yes, this is what I am talking about. 
If there is no clear policy, it potentially creates an attack surface against the treasurer.

It is not possible to speculate right. You could be criticized that you haven't sold the 3 BTC and lost money.
On the other hand, you could be criticized for selling any BTC recieved before 2017, because they are still worth much more now, even after the 2018 crash.

I would plead to formally set a formal policy: no long term holding of BTC, it should be sold at the earliest convenient moment after receiving it.

Thank you again!

Ivo


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