BTCS merger, page-81

Tmacr, thank you.

It seems too risky for me, but I fully respect your sentiment and view.

From my end, I don't have the feeling that C.A. ever cared about BTCS. Also, in the last letter to shareholders, he stated that should the merger with BGL fail, "the board will stay on for a limited period of time": sounds to me like C.A. was prepping the ground for an exit and possibly chapter 11?

The strategy could also have been to suppress the SP as much as possible before any merger, but I don't feel that's the case. Also, I don't see the incentive for Marathon to merge with BTCS. There would be a lot of upside for BTCS shareholders (C.A. is not even a majority shareholder), and almost no upside for Marathon, who are already listed.

Last but not least, I exchanged some emails with C.A. in the last quarter of 2017 (at the investor relations email address listed on the BTCS website). C.A. was very responsive and usually responded right away, although it was all "smoke and mirrors", i.e. "I cannot reveal any more info beyond the last quarterly", "I cannot reveal any info beyond the last 8-K", etc.

Since his letter to shareholders, I sent about 5 emails and have never received any response at all. Seems like the lights have been switched off.

Last but not least, the only one email where I got some useful info from C.A. was when I asked him if he had informed Sam Lee about the letter to shareholders. He said he did inform S.L. about the fact that BTCS might be pursuing different merger targets, but said he hadn't informed S.L. about the letter to shareholders, specifying "we do not report to BGL, no obligation to let them know". It didn't sound like a friendly relationship between the two entities.

Anyway, good luck, if you pull it off and it takes off, well done for riding the waves and keeping your cool!

J.