Armory bitcoin wallet CEO: The End of the Road for Armory

Armory bitcoin wallet CEO: The End of the Road for Armory

Today in a post to the bitcoin community from Armory bitcoin wallet CEO Alan Reiner, he announced that he is leaving the wallet company and that for the time being the Armory wallet is not going to be further developed, saying “Armory may be revived in the future, but in the short-term the rest of team has to move on without it.”

Although, Reiner did also state that longer term, another developer will be taking over the development of the wallet.

In the announcement Reiner says that he had hoped to make a more positive post today to the community about the future of Armory, but due to business complexities, legal issues, and bad management of the business side of the project, it has left the wallet unsustainable and is unable to continue on. Reiner went on to say:

In the short-term, this is the end of the road for my involvement in Armory.  My only real choice is to move on, and try to contribute my expertise elsewhere.  After spending 80% of the last year primarily dealing with business operations, I welcome a return to the life of being a software guru, which is where my skill really lies.  I also want to thank the other developers who were so loyal that they stuck around through missed payrolls way longer than any “regular employee” would.  I’m proud that I was able to build and maintain such a loyal and devoted team to our mission.

In immediate future, Farhod (goatpig) has indicated that he will take over the reigns of the public side of the Armory project.  He also has my utmost confidence and trust, and demonstrated a selfless passion for growing Armory for the sake of the Bitcoin community. Armory may be revived in the future, but in the short-term the rest of team has to move on without it.

The future of the wallet at this time seems extremely uncertain, as the announcement post raises a lot of doubts on how it will continue on, even with a single developer trying to keep it alive and the issues with the business side of the wallet continue to persist. In addition the core bitcoin code is evolving at a rapid pace and for wallets, such as Armory, that can’t keep up will be left behind and more than likely will be forced to shut down.

Update: Armory developer Farhod has posted a follow-up statement indicating that the development of the open source Armory wallet will continue and will remain open. He plans to do crowd-funding in the future to help pay for the development of the wallet. Here is part of the statement, below.

As for funding, this all done on my own resources. I have no job currently, as I want to catch up with all that Armory is missing. However, as an Armory user and a member of this community, you should expect the following: at some point it is likely I will ask for development to be crowd funded. That day isn’t here yet and it isn’t guaranteed that it will ever come. If it does come, here is what will happen:

I will ask the community to pay me for further development. I’ll list a set of features to develop, let users discuss them, modify them, propose new ones, change the priority around, all the good stuff. With that said I will lay out a time estimate for each task, and a hourly fee. That part will be discussed with the community too. Once we get to an agreement, these figures will used for a crowd funding campaign. If the targets are met, I will continue to work Armory full time. If they are not, I will have to get a job and work on Armory on my free time. I’m fine with either possibilities but I’d rather work on Armory full time if I had a choice.

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david@bitcoin.com'
David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.