The Bitcoin Cash Node (BCHN) project practices and promotes transparent reporting.
Project funds are held by team members in a 3-of-5 multi-signature wallet.
This wallet is used to receive donations and pay for project expenses (general funding of BCH Node operations, including personnel, equipment and contracting).
All our spending transactions are on the Bitcoin Cash (BCH) blockchain except when we dispose of non-BCH coins, received through airdrops or other means, which we may convert into BCH.
We use open source wallet software (Electron Cash) and maintain our accounts using plain text accounting in a ledger file which is part of the public project management repository on GitLab.
Based on this public ledger, the project can account for all its income and expenses and produce financial reports using auditable open source software.
Please refer to the Links section at the bottom for links to previous financial reports.
The statements below cover transactions up to and including on June 06, 2022 (more precisely, up to block
4424.06463716 BCH was held by the project at the time of writing. This represents an increase in available funds of about
597.83 BCH since the previous report in November 2021. The project remains in an excellent financial state.
All expenses below fall within the scope of our funding proposal (link above). Since project start, a total of
1331.80520201 BCH has been spent so far, broken down as indicated.
0.13132168 ABC bchabc
4424.06463716 BCH bitcoincash
1331.80520201 BCH expenses
1140.17922247 BCH development
87.97578591 BCH backporting
40.54174199 BCH bounty
0.25000000 BCH doc
0.50000000 BCH feature
6.09334702 BCH review
11.00000000 BCH security
6.75000000 BCH test
15.94839497 BCH website
62.65460295 BCH daa
912.91974759 BCH general
5.71632624 BCH general verification
30.37101779 BCH website
6.80363425 BCH flipstarter
15.61777112 BCH general
7.94961242 BCH i18n
91.93541447 BCH external:verification:scaling
7.98748784 BCH infrastructure
5.10000000 BCH marketing
0.00829492 BCH bch
0.00705620 ABC bchabc
84.34014044 BCH pr
82.34014044 BCH representative
2.00000000 BCH video
2.25464187 BCH translation
-5591.16831186 BCH donation
-0.16653556 ABC donation_replay
-5.09999336 BCH refund:marketing
-2063.99958445 ABC equity:abc_fork
Currently BCHN derives its income mainly from donations.
The donations below include those made directly to our project donation address and those forwarded from tips on this site.
A total of
1200.52727624 BCH was received during this reporting period. A negligible amount of BCHA/ABC/XEC) was received as a result of one replayed BCH donation transaction.
A total of
5591.16831186 BCH had been received in donations since the start of the project in February 2020. About 17% of that was raised via the original Flipstarter campaign which successfully completed on 26 April 2020, yielding
978 BCH in funding for BCHN's initial project proposal. Thereafter some big anonymous donations have been received:
The remainder was received from several business and personal donations. Some of our biggest known donors include ASICseer.com, Marc de Mesel, Georg Engelmann and 'zveda'.
We thank everyone who has generously donated to us during the time since our last report.
Below are the project's expenses since the last overview on November 24, 2021. They amount to
607.79716942 BCH over that period. The mining fees have been excluded.
2021-12-01 ex:development:general 6.32635250 BCH
2021-12-01 ex:pr:representative 2.18150087 BCH
2021-12-01 ex:development:general 2.83595113 BCH
2021-12-01 ex:development:general 0.10775862 BCH
2021-12-01 ex:development:website:general 0.21815009 BCH
2021-12-01 ex:development:general 20.68965517 BCH
2021-12-01 ex:development:general 6.19469027 BCH
2021-12-06 ex:development:general 36.81012043 BCH
2021-12-21 ex:development:general verification 0.22935780 BCH
2021-12-24 ex:development:general 8.05555555 BCH
2021-12-30 ex:development:general 0.22883295 BCH
2022-01-01 ex:development:general 3.16820280 BCH
2022-01-01 ex:pr:representative 2.87356320 BCH
2022-01-01 ex:development:general 1.70454550 BCH
2022-01-01 ex:development:general 17.47159100 BCH
2022-01-02 ex:development:general 30.96590910 BCH
2022-01-04 ex:development:website:general 1.15207374 BCH
2022-01-04 ex:development:general 33.98617512 BCH
2022-01-13 ex:marketing 5.10000000 BCH
2022-02-01 ex:pr:representative 4.40140845 BCH
2022-02-01 ex:development:general 1.76056338 BCH
2022-02-01 ex:development:general 30.05226480 BCH
2022-02-02 ex:development:general 2.60416666 BCH
2022-02-02 ex:development:general 38.59649123 BCH
2022-02-02 ex:development:general 32.53424657 BCH
2022-02-08 ex:development:website:general 2.04613095 BCH
2022-03-01 ex:development:general 1.50984418 BCH
2022-03-01 ex:development:general 2.29617610 BCH
2022-03-01 ex:development:general 3.40197768 BCH
2022-03-01 ex:development:general 3.79420245 BCH
2022-03-01 ex:pr:representative 3.83435583 BCH
2022-03-01 ex:development:general 18.84615385 BCH
2022-03-18 ex:external:verification:scaling 0.00000611 BCH
2022-04-01 ex:pr:representative 3.39673913 BCH
2022-04-01 ex:development:general 4.25025501 BCH
2022-04-01 ex:development:general 2.63116350 BCH
2022-04-01 ex:development:general 15.03568469 BCH
2022-04-01 ex:development:general 28.81939843 BCH
2022-05-01 ex:pr:representative 4.49640290 BCH
2022-05-01 ex:development:general 4.50466683 BCH
2022-05-01 ex:development:general 5.40560020 BCH
2022-05-03 ex:development:general 0.87574876 BCH
2022-05-03 ex:development:general 6.47321430 BCH
2022-05-07 ex:external:verification:scaling 36.40449438 BCH
2022-05-31 ex:development:general 10.78680200 BCH
2022-06-01 ex:development:website:general 1.86567160 BCH
2022-06-01 ex:development:general 6.87500000 BCH
2022-06-01 ex:development:general 45.22613065 BCH
2022-06-01 ex:development:general 2.52818931 BCH
2022-06-01 ex:pr:representative 6.51041667 BCH
2022-06-02 ex:external:verification:scaling 55.53091398 BCH
2022-06-02 ex:development:general 40.20270300 BCH
In the time since the last report, BCHN activity was directed towards:
improvement of tests and benchmarks
upgrade to TORv3 / BIP155 implementation
technical investigations and reports on various node client software architectures (work in progress)
review and draft implementation of CHIPs
No bounties were awarded in this period, but a bounty process is in development.
27.69438705 BCH were spent on public relations, covering seven monthly payments to our representative.
477.55598372 BCH were spent on client software development and maintenance.
5.28202638 BCH were spent on website maintenance and content.
91.93541447 BCH were spent on an external contract with Software Verde to conduct scaling tests with various software infrastructure components. This is an ongoing contract running from 1 April 2022 for a total of 640 hours, with a nominal end date of 31 August. It is categorised as 'external' in the above expenses. Software Verde reports progress on this work on the Bitcoin Cash Research site.
5.1 BCH spent on “marketing” was for a HackSmart flipstarter pledge which was refunded when the flipstarter was canceled due to volatility. Thus it was effectively not an expense in the end, but shows up as an expense in this report (there is a corresponding "refund" transaction as income from the cancellation in the ledger. We only incurred minor network transfer fees for this marketing operation).
These are derived from hledger tool's statistic report.
Main file : bchn.journal
Included files : prnc2exht3zxlrqqcat690tc85cvfuypngh7szx6mk.journal
Transactions span : 2020-02-22 to 2022-06-03 (832 days)
Last transaction : 2022-06-02 (5 days ago)
Transactions : 2485 (3.0 per day)
Transactions last 30 days: 11 (0.4 per day)
Transactions last 7 days : 8 (1.1 per day)
Payees/descriptions : 1
Accounts : 28 (depth 4)
Commodities : 3 (, ABC, BCH)
On November 15, 2020, Bitcoin ABC created a spin-off currency by forking away from the Bitcoin Cash (BCH) currency.
This new coins is referred to as 'ABC' or 'bchabc' in our ledger files. It is now traded under the symbol XEC and branded as "eCash" on most exchanges / explorers.
The BCHN project received an amount of ABC's coin equal to the amount of BCH held in our wallet at the time and entirely converted these (approx.
2064 ABC coins at the time) into around
159.6 BCH by November 19, 2020.
Since then, the project holds virtually no more ABC coins except a minimal amount which has been received since due to replaying of regular donations made to our BCH wallet (the 'donation_replay' income position).
If ABC coin donations reach a significant amount, the project may convert them to BCH in the future as it does not intend to hold them. At time of this report the ABC coin holdings amounted to less than 8 USD, the increase from the last report being due mostly to an additional replayed transaction and price fluctuation of the ABC coin.
The project has a SimpleLedger (SLP) token donation address.
Currently, the project has received and is holding donations of
2,000,000 SPICE 🌶️ ,
1,000 USDt and few other tokens have been sent to the address.
As we conduct our payments exclusively in Bitcoin Cash up to now, we have yet to set up a ledger file to account for token holdings. We may do so for main tokens like SPICE, but not generally for all random tokens sent our way, as this would be a way to spam the project.
The project does not, at this time, keep a SmartBCH wallet, but is considering to create a multi-signature SmartBCH wallet for those who want to donate sBCH or SEP20 tokens to us.
We will keep you informed of developments and post any related information, such as a SmartBCH donation address, on the project website.
Previous financial overviews:
Flipstarter funding proposal:
Getting in touch with BCHN: