Bitcoin Forum

hey guys, do you know what happened to the Bitcoin Foundation, still exist?

Well, according to the news here in Coindesk http://www.coindesk.com/companies/bitcoin-foundation/
I think Bitcoin Foundation is already dead

They went bankrupt a while ago and there was quite a scandal with the "millionaire" wages they paid some of their employees. They still exist and they were apparently restructuring and had a new roadmap. Let's see what they come up with, I highly doubt that it will be anything worthwhile after all the troubles they had.

Site is still up. The latest blog post is from 22nd Dec 2015 and relates to new board appointments (!?). Looks like they'll trying to keep it alive for some reason.

a few of the nasty people of 2014-2015 raided the accounts of TBF and then moved to england. leaving TBF empty and to fester.. not caring if it should survive or go into bankruptcy.

those thrown into the board members chairs of late 2015 to replace the thieves that left, are left holding a bag of dust and have not yet decided what to do with it.

TBF could have been a knowledge power house allowing for a repository of all knowledge related to bitcoin. everything from well commented and pseudo-code included projects to help people get started. aswell as a repository of business listings and skills and jobs boards..

but it seems its just left to fester with no niche or purpose. kind of a shame..

Then they'll start looking for donations and the cycle goes all over again.  8)

Most likely dead

Bitcoin foundation run out of funds, they spend a lot of bitcoin money in few months. I read some news that they were asking for donations and recover the foundation tasks.

some of the "donations" were to possibly pay an auditor to atleast prove what we already suspect. that scammers raided the piggybank and fled.

if there was to be money pumped in, it should be used for the future helpfulness of bitcoin, rather then wasted for a 15minute report that tells us what we may already know. that said. there is nothing against PwC who are heavily invested in bitcoin to ask their partners to audit TBF pro-bono.. should the community really desire an audit of the past

i also dont see any bitcoin promotion from bitcoin foundation,wheter i see on bitcoin foundation.org,they said that bitcoinfoundation Created with the mission to standardize, protect and promote Bitcoin. but now i dont see they provide some bitcoin promotion or another bitcoin event.

The Bitcoin foundation was doomed for failure from the start, because nobody actually wanted them to represent us. They organized some events {or should I say the personal

assistant or secretary with the huge salary organized everything, and the board members got the credit} They got some nice donations at the beginning, but they tore through

that very quickly, when things started to go south. It was a bad idea, and it still is.... No central organization should represent the Bitcoin community..  ;)

more than promote and protect bitcoin seems that they enjoyed a lot of money from the foundation.  There's some documents to see how many bitcoin have they spent and how it's possible to run out of fund

Yes I believe this stupid organisation is still around.
Fact is the community is mostly not interested being represented by such stupid centralized entity which has burned a lot of donated bitcoins.

Nobody takes this group seriously anymore. I remember they had people like Karpeles as members. There was even Karpeles actual cat as a member too. It was a joke and the reputation is totally gone, nothing can make it look serious again. I think the best they can do is disband it. It's probably a bad idea Bitcoin having an official foundation.

This "Bitcoin Foundation" is nothing serious did

Bruce Fenton is trying to keep TBF going, but he does not want an audit.

Bruce started a thread "Bitcoin Foundation: where on earth did all the money go?"
bitcointalk.org/index.php?topic=1314390.0
Only to say it no longer matters about that money, it is gone, move on.

Bruce thinks it a waste of time and new money to try to find evidence of past fraud.
(even someone else payed/put in the time)

I tried to get Bruce to "want" an audit in principle. He would not.
Bruce thinks the money was just "recklessly spent", not "fraudulently spent"
Bruce thinks the ex board were silly, not naughty. No case to answer.
(but obviously, without an audit nobody knows)

And Bruce has not helped us look either.

Gleb has been awaiting a reply for 2 months.
Bruce hasn't been back.

as for bruce not being helpful. well he could be more transparent and just scan all the documents and bitcoin addresses and make it public for the whole community to view. but then there is a chance that people will say documents are being hidden or its not original documents and other conspiracies.. so its better to be independently done by an outsider, so i can "kind of" see why bruce is trying to keep an arms length.

i still beleive its worth utilizing blockstream to get an audit done via their partners networked through PwC. im pretty sure with the amounts invested they would like to clear up a few matters pro-bono..

then maybe worth the bitcoin foundation themselves concentrating on what was their roadmap for the last 3-4 years.
maybe blockstream can also use their partners in PR to start making the bitcoin foundation be a repository of knowledge and utility.
again that 55million blockstream has can be put to good use.. especially if we should ignorantly believe that only 2 coders are employed by blockstream, so they have plenty of spare funds to use

i personally see no point in throwing more money to work out where the old money went. its obvious alot was syphoned off during a few of the conventions aswell as funny that it disappeared during the very short leadership of well many know who

but i think blockstream have deep enough pockets and can call in a favour with their pals to get an audit done