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From YouTube: Status Townhall #24 - December 10, 2018
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A
A
Up
until
now,
it's
been
largely
smooth
sailing,
calm
seas,
beautiful
sunny
days,
people
playing
with
cannonballs,
sunbathing
and
fishing,
but
we've
definitely
hit
a
storm.
The
skies
have
blackened
there's
ten
meter.
Swells
with
waves
crashing
down
on
us,
can
barely
see
you
breathe
and
all
I
can
taste
is
salt,
water.
A
A
Historically,
we
haven't
really
talked
about
the
market;
instead,
we
keep
our
focus
in
technology
in
status,
but
the
reality
is
is
we're
inextricably
linked
to
the
market
recently,
as
you
may
have
seen,
the
market
has
undergone
a
crash
or
a
significant
price
correction.
As
a
result,
earth
is
one
third
of
the
price
we
raised
and
planned
for.
We
don't
know
how
long
the
storm
won't.
Last,
if
you're
new
to
crypto,
you
might
not
be
familiar
with
its
volatility.
It
happens
from
time
to
time.
Nevertheless,
it's
real,
we
have
to
adapt
to
it.
A
A
A
What
we
do
know
is
that
we
need
to
do
our
part
and
responding
to
the
market
by
showing
the
market
there
was
serious
and
delivering
real
value.
When
you
take
an
honest
look
at
ourselves,
like
many
of
the
other
projects,
we
wanted
to
be
closely
aligned
to
the
success
of
the
earth
area
as
possible,
but
Carl
and
I
clearly
overstepped
the
mark.
At
the
same
time,
everyone
contributing
to
status
has
had
a
lot
of
freedom.
Everyone
joining
and
new
should
have
known
the
white
paper.
A
Yeah
we've
collectively
failed
to
deliver
the
S&T
use
case
as
we
promised
now.
While
we've
made
great
strides,
we
still
have
some
technical
issues
unresolved
since
the
beginning
of
this
year,
and
I
also
accept
my
responsibility
in
this.
But
I
can't
stress
this
enough.
We
have
two
priorities:
first,
deliver
the
white
paper
promises
and
second
get
the
core
application
to
a
usable
state,
so
that
means
onboarding
reliability,
ease
of
use,
so
people
can
actually
use
SNC.
A
Now,
here's
the
part
that
really
hurts
we're
currently
operating
an
organization,
that's
much
larger
than
we
can
stain
and
sustained
in
this
climate.
This
has
happened
because
we
budgeted
based
on
the
assumption
of
a
higher
floor
in
the
event
of
a
market
crash,
and
we
did
not
prepare
adequately.
Forces
are
areas
where
the
values
drop
80
beyond
80
percent
since
August.
A
This
is
compounded
by
not
having
a
solid
banking
partners
due
to
the
difficulty
in
opening
banking
accounts
for
crypto
projects
until
q2
of
this
year
and
we've
been
hedging
adequately
since
so
pretty
much
we're
going
to
stretch
our
fear
as
it
stands
today
to
provide
six
months
of
security
over
operating
costs.
But
in
order
to
do
that,
we
have
to
strip
down
the
organization.
A
Everyone
who
we're
asking
to
stay
is
considered
critical
to
delivering
us
into
use
cases
getting
a
theorem
to
an
application
to
a
perfect
state.
Continuing
to
build
out
a
thorough
infrastructure
and
delivering
serenity,
which
is
all
things
that
must
continue,
I'll
have
direct
oversight
on
everyone
is
working
on
and,
like
I
said,
it's
all
hands
on
deck,
we're
all
in
this
together.
The
pressure
has
never
been
greater
to
be
more
fully
aligned.
Let's
not
forget
that
this
is
a
storm.
This
is
crypto,
we
knew
would
have
them
I
hope.
A
One
day
we
can
look
back
at
this
chapter
with
or
and
what
we
accomplished
in
face
of
adversity
and
I'll
be
proud
of
everybody
who
makes
it,
but
thank
you
for
being
now
pay
for
everyone's
contributions
to
making
status.
What
it
is
today
will
be
contacting
everyone.
So,
hopefully
all
terminations
will
be
done
today
and
everyone
will
have
all
the
details
and
updated
contracts
within
the
next
24
hours.
I
understand
this.
This
sucks
and
it's
gonna
be
a
rough
week.
You
know
Carl
myself,
no
bill,
JB,
Stef
and
Kari
we're
all
here.