We can use translation as we are doing now, and I do not mind.

Ok so the blurt coming from initblurt to individuals, is payment for work. @megadrive will publish an accounting report for transparency at some point but the basic easy version of the story is that we have a few coders @ericet @eastmael @yehey and sorry if I missed someone-- if blurt flows to them from initblurt, it is because they are actively contributing to blurt the platform.

@rycharde is our mathematician and researcher. He is teaching me group theory and how it can be used to model and develop distributed systems, and is exactly the kind of proactive person we needed on the team. One of his work products will be a dramatic simplification of the math that drives blurt and a (~50%?) reduction in the amount of active code we run. That reduces attack surface, which is something we as a community need to be very concerned with.

The immediate result of his work is an expansion in my and other teammates ability to comprehend and develop Blurt, as well as in depth articles on serious issues about the reward pool. He and I believe it can be saved instead of going the way of whaleshares, where the reward pool was eliminated.

His work is likely to result in powerful changes on blurt in the next six months and may also inform the design of systems in the 500 family of blockchains.

Doesn't exactly mean they are employed either. Folks work on what they think needs working on, and I like that.

The blurt coming from initblurt and going to exchanges, is for two purposes --

1. rather elementary market making (we aren't very good at it yet and do not have an automated system but @beerchemist has advised us on where liquidity should be applied in the order books, and we haven't fully implemented his advice, but will). This blurt isn't intended to be bought or sold, but instead help capitalize old and new order books alike.

2. sell to get btc for new exchange listings - best example of this is probit. They wanted 1.5 btc so we let users know we were selling 1.5 btc worth of blurt to execute the listing. We did this for stex ($3000) and beldex ($1000) as well.

I think that is everything. In blurts beginning I was the only capital investor, to the amount of about $5000. @megadrive later agreed to share that cost with me, making us 50/50 partners..... And his work, demeanor and character make him the best partner I've had in crypto. Blurt would not be the same, or maybe even would not have launched if it were not for his patient and sustained work.

🙏🙏🙏🙏🙏 @megadrive 🙏🙏🙏🙏🙏🙏

We call initblurt "the shart". Maybe the translator won't translate shart well, so, forgive my rudeness here:

We referred to the stinc accounts as a fart, and built a ventilation system to suck the bad smell out of the air, so we can breathe fresh.

The ventilation system (it is a real thing -- actual software built by @baabeetaa and configured by me) compressed the fart into a shart, and contained the shart in the initblurt account. And here is where it gets rude... A shart is when well, you think you just need to fart but... Also get some 💩💩💩 shit+fart=shart.

And the fact is that the shart is what has supported blurt so far.

Currently we are spending more from the shart than the shart grows in monthly staking reward, and most of that has gone to exchange listings and "wages".

Early on we spoke of a blurt foundation and sometimes we still use those words but there is no entity anywhere in the world, just a trusted relationship between @megadrive and I.

And goals.

At this time the shart is functionally his and my property and we administer it on behalf of blurt. Note that I said functionally-- in fact it's not our property.

And we do have a plan for it and we do have a responsibility to the community to community to communicate that plan.

So here goes:

The shart is currently valued at about 1.4m usd, but of course not exactly. It is not super liquid (semi serious joke: you ever have a semi liquid shart in your pants? 💩😂) meaning that even if we wanted to (we do not want to) we could not dump the shart and run off with $1.4m. So the shart has a mainly notional value.

At current prices, the shart will be used only to pay expenses and nothing more.

If/When the shart is worth $18,000,000+, he and I personally intend to (over months and not suddenly) recover about $1,000,000 each which will be put aside for our families. We both have kids and so we both must work in other roles currently to ensure our families well being.

With deep financial security, that would change and we could work together full time on building value for the community with a fairly unconventional play.

The remainder of the shart (at minimum $16,000,000 of value but maybe more) will somehow be made into an investment vehicle/tool for the development of open technologies.

It will be invested directly in projects and they will have no need for incorporation or ties to venture capital or the state. And returns on these investments will by some yet to be determined with precision approach be tied back to the blurt community. But we aren't a fund. Just a big experiment.

This is our desired direction and of course there are risks and we could fail. I make no promises whatsoever about the future price of blurt and remind our gentle users that this is an experimental software project that could explode at any second, for any reason or without reason.

With that disclaimer stated, everything above is our direction and plan and we will work toward it. Just please know that you must not treat blurt like some kind of fund, it simply is not.

It is an oddity in the world caused by a big and urgent need for a change in governance on steem, a platform and idea and community I loved, identified by @birdinc, coded largely by @baabeetaa and maintained and administered by @megadrive and I.

The plan may change but the goals will not.

PS:

The $5000 megadrive and I split did not have any fixed return or number of tokens attached to it. We both got into that knowing it was super high risk but wanted to see this happen.

And guess what?

For me, it was the cheapest education -- or most cost effective I have ever had.

If blurt explodes tomorrow and not a cent returns to me it was still great value for money.