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== [[ Current Consensus Items | Proposals for next week ]] == ''(Add any new items for consensus to the [[Current Consensus Items]] page.)'' From | February 28, 2020 | Tyler Maran | Setting Hold positions for crypto currency | Noisebridge will never maintain more than 20% of it's total liquid assets (cash and equivalents) in crypto currency. I am suggesting this in light of the $156,000 BTC donation from Kraken. Which brings our BTC to more than 50% of our current assets. This check will be assessed quarterly (in line with fiscal quarters) and balances greater than 20% would be liquidated. 20% will be a maximum number, and not a target number. i.e. if we increase cash balances we will not buy crypto to maintain that ratio. It is just a measurement of our maximum acceptable risk. | Tyler Maran Ryan presenting above: Lower max to 15%. Tyler: working on stock caveat. Minimizing exposure to volatile/speculative investments (crypto, stocks, etc). Tyler: Could be boiled down to "NB will not have more than 20% of total liquid assets invested in a single asset class" Probably too high, but NB is heavily into crypto world. Tim: Limit to 10 mins Gabriel: Ask/recommend not hard limit Whoever's doing the notes: i can take over --Naomi <3 Tyler: yeah we're going to sell off at stages, not all at once. Kesh: Stablecoin? Yeah for example you could move some % to stable coin. Tyler: Right but it doesn't do... much. if it's just trying to mimic a doller then why not stay in dollars. : Main reason would be to allow for anonymity in transactions. : is there a guild for cryptocurrency? Crypto guild exists. It is highly secretive and requires one go through a vague and cryptic process to become part of. Naturally. Quite accessible though so... Naomi: A lot of people don't know this, but Tyler worked professionally as an investment banker. Tyler: I was CFA(?) certified so I know a bit Naomi: I want to reenforce "step up and step back." Tyler is best treasurer we've ever had. He knows what he is doing. When he speaks I just want to make sure you guys know he speaks from a place of experience and expertise. Naomi: I want to emphasize having a culture of recognizing expertise. Also, this isn't to shut anyone down, this is to lift Tyler up. Tyler: ok so how about numbers <messy straw poll show-of-hands for percentages> 20: 7 15 8 10 1 Whatever Tyler wants: <many hands> Steve: i am blocking because this is a fucking mess Dave: i move we table this until it becomes relevant. If he sells at some % per month it'll be several months before Ryan: We want to make sure we have enough cash on hand for whatever comes up. Right now we have $135k in cash. Noah: Is anyone against making the max about 20? <3 people> Raise your hand if you like 20 or below. <many hands> I propose consenting at 20, reconsensus for future to drop to a lower # in the future. <Wheezy takes the mic> Jeremy: we should consider the treasurer's forethought in that 20%. crypto is volatile. Reducing too much could reduce growth. I'm not a treasurer, i support Tyler. Steve: agreeing with Jeremy to defer to Tyler. From what i remember from Tyler he preferred 15-20. Robert: Dunno anything about crypto, would go w/ what Tyler knows. Would ALSO recommend ppl come to Kinnard's discussions that would lead to talking to Tyler. Tyler: I agree w/ Noah. Let's set it to 20% and we can then re-agree on 15%. Sophia: the markets have been fluctuating like crazy Tyler: BTC lost $1000 in value. Wheezy: we are anarchists in a capitalist country, and Tyler is our buffer. <laughs> Tyler: I think we have formal consensus....?!?!?! Ryan: For those who don't know, consensus blah blah blah -- we see if any Members want to block b/c only they can block. Do not say you block if you aren't a big-M Member. Tim: I agree with Ryan!!!!!! Wheezy: do any members block this item? *crickets* *applause*
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