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Last active Jun 20, 2017
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My letter to the Counterparty community (2017-06-08)

From its creation over three years ago, it’s been exciting to witness both the development of the technology and community behind the Counterparty project. However, on a personal level, my life is changing: I got married a few weeks ago and will be taking a break from day-to-day involvement in crypto projects for a while in order to slow down a bit as I focus on the simpler things, like a small farm and a child or two, as well as the not-so-simple things such as handling an immanent merger of my IT company (CtiPath) to another entity.

On this note, I will be resigning from Counterparty to create the space necessary for others to better move the project forward. I have nothing but a deep appreciation and respect for the numerous dedicated individuals that I’ve worked with on this project, several of whom almost from the start way back in January 2014. This especially holds for the interest, time and talent of people like Jeremy Johnson (j-dog), Ruben De Vries, Devon Weller, Joe Looney, Sean and numerous others, whose time and energy has been baked into the DNA of Counterparty.

My goal is for this transition to be as smooth and undisruptive as possible, and I have donated 2,500 XCP ($43,825 at time of donation -- TXid: 02bf8eda7fa8a18ee4045bea914764aec5ded1e3e66abb800c0c7465b8aaf441) of my own savings to the project’s general fund. (Note: Originally I was planning 5,000 XCP but I had an error in my recording spreadsheet where I had forgotten to mark several burn addresses as used.) I hope that this – paired with our new CIP bounty process – will help development continue on for the foreseeable future. In addition:

  • I will recommend that Devon Weller take my slot as one of the two current project maintainers (with Ruben De Vries being the other). Devon has shown himself to be both competent and responsible in working on the Counterparty codebase and was behind the implementation of the recent sub-assets support. If he is interested in such a position, I feel that he will do quite well for the project.
  • Prior to resigning from the Counterparty Foundation board, I will work with the other board members to eliminate the single “Founding Member” seat (which I currently occupy) and replace it with an elected “Community Member” seat. The board may then choose to hold an election for this seat or fill it via an internal vote. (Note that in this specific case of a sole Founding Member resigning, what is exactly to be done is unclear in my reading of the bylaws and something the board will need to resolve.)
  • I will be handing off responsibility for the Counterparty web server as well as the “cw01” Counterwallet server (hopefully) to Jeremy. Jeremy is well-regarded member of the community that possesses both the technical skills and trustworthiness to manage these resources. At the request of the project, I will continue to provide the hardware resources powering these systems at no cost for the foreseeable future, but for security reasons will have no access to them otherwise.
  • Likewise – unless instructed otherwise by the board -- I will transfer the 2,500 XCP to Jeremy for safekeeping, given his formal role as CIP custodian.
  • The, domain ownership will be transferred to an individual of the board’s choosing (I will recommend they be transferred to Jeremy).
  • I will be around via email for a period of three months on an as-needed basis to perform any and all necessary knowledge transfer, relationship intros, and act as an advisor to the project. I am especially interested in CIPs 9, 11 and 12 being implemented and activated so that Counterparty is in the best situation possible with regards to the nascent Bitcoin fee market.

I’m proud of what we have been able to do with Counterparty and look forward to seeing it continue to mature over the upcoming years.


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