Bitcoin Forum

Tax specialist Cameron Keng argues that "running a 'BitFDIC' could operate as a self-governing body. Read more at http://bitjuice.com/bitcoin-must-create-a-communitybacked-fdic

This is the role Bitcoin Foundation should have taken up when in 2012 President Peter Vessenes said his 2013 goals were:

1) Publish a set of best practices for businesses transacting in Bitcoin, covering topics from accounting to physical and digital security.
2) Create an opt-in certification process for Bitcoin businesses.

I've attempted to get Peter or the Foundation to respond to this, but have been ignored. Any one have a way to get their attention?

this should not be a bitcoin foundation role.

this should be independent of the expensively paid foundation board that sit on their hands..


the fdic is just a insurance company. what i say below is more about a 'best practices company" BPC and refers to making businesses ethical and honorable only. not taking the freedoms from individuals or the innovation from businesses


each country should have their own independent best practices company. which has:
1.actual contact information for businesses to contact (not support tickets or 48hour response emails)
2.they regularly audits the companies properly(be shown cold store balances and fiat bank statements. along with sourcecode)
3.they do not have huge fee's/licences.
4.all servers are inhouse (no remote datacentres or third party hosting. (to avoid this (https://bitcointalk.org/index.php?topic=475397.msg5804367#msg5804367))
5.they do not sit on their arses being retroactive/reactive, waiting for complaints. but be proactive and regularly getting involved to take the pressure off of the business. allowing businesses to concentrate on customers more then paperwork.


if a community body wants to be the bitcoin equivalent of BPC then the BPC should do the reports based on datadumps a business gives them, instead of the business using datadumps to then fill in reports to BPC specification. afterall businesses are paying this community body money for something. so it better not be just a yearly approval certificate and no further labour involved on the BPC's part