The truth about the Bitcoin Foundation

[crypto01]

https://bitcoinfoundation.org/forum/index.php?/topic/1284-the-truth-about-the-bitcoin-foundation

[1715409931]

1715409931

[1715409931]

1715409931

[1715409931]

1715409931

[Searing]

https://bitcoinfoundation.org/forum/index.php?/topic/1284-the-truth-about-the-bitcoin-foundation

power corrupts...you need some kinda rules/setup to tweak the bitcoin core...and perhaps pay for coders etc.....not sure ...how does it work for linux stuff?

no idea ...but does not bode well if there is not someway to 'herd the cats' on how to do improvements in code at least ....so some kinda fix i guess is needed.

just another bad result from bitcoin price 'tanking' 2/3 in price from jan or so

[coinableS]

A lot of drama going on right now with the foundation...

Olivier I'm not going to respond to your trolling and false accusations. Enjoy your moment in the spotlight.

[Undermood]

Wa probably this is the reasons why the price plummets recently!

[amiryaqot]

so new twist will about to come soon about bitcoin with new kind of troll with bitcoin foundation inside story, i think that is just one sided story many more thing will about to come out.

[Q7]

I don't why the concept of foundation exist in the first place. If we are so firm on decentralization, should it be that no organization or anyone for that matter should claim to have control over bitcoin in the first place.

[chmod755]

no organization or anyone for that matter should claim to have control over bitcoin in the first place.

They don't claim to have control over bitcoin. That's just what O. Janssens claims

[Gleb Gamow]

Olivier Janssens. I love this guy!

Patrick Murck: Blame Vod!

[ed_teech]

How much money do the core devs make from the foundation ?

[WhatTheGox]

Wa probably this is the reasons why the price plummets recently!

no i think thats just to do with china miners dumping all last year.

[Denker]

Aren't they just developers of Bitcoin Core ?

How can they control bitcoin if bitcoin is decentralized currency ?
I think foundation is no needed anymore

They don't control Bitcoin. It's a member association who is collecting money from members and use it to pay some of the devs so that they can focus fulltime on bitcoin. Furthermore they do PR and some lobbying as fas as I know.
It's like Mozilla Corp.

[HI-TEC99]

Aren't they just developers of Bitcoin Core ?

How can they control bitcoin if bitcoin is decentralized currency ?
I think foundation is no needed anymore

They don't control Bitcoin. It's a member association who is collecting money from members and use it to pay some of the devs so that they can focus fulltime on bitcoin. Furthermore they do PR and some lobbying as fas as I know.
It's like Mozilla Corp.

Who decided who gets to be the main devs? The Bitcoin Foundation must have a big influence over them considering it pays them. It might not completely control Bitcoin, but it must have a big influence on the main devs, which gives it a certain amount of control over Bitcoin.

[redsn0w]

Aren't they just developers of Bitcoin Core ?

How can they control bitcoin if bitcoin is decentralized currency ?
I think foundation is no needed anymore

They don't control Bitcoin. It's a member association who is collecting money from members and use it to pay some of the devs so that they can focus fulltime on bitcoin. Furthermore they do PR and some lobbying as fas as I know.
It's like Mozilla Corp.

Who decided who gets to be the main devs? The Bitcoin Foundation must have a big influence over them considering it pays them. It might not completely control Bitcoin, but it must have a big influence on the main devs, which gives it a certain amount of control over Bitcoin.

The problem here is that "no one" can real control bitcoin as technology, if tomorrow the "dev team" will release a new update and the large quantity of the miners don't agree with this update .... what will happen? So I don't care about bitcoin foundation, they should work as "volunteers" and not employees.

[Agestorzrxx]

Do we really need  Bitcoin Foundation?
As a decentralized currency, a centralized organization is totally inappropriate。

[tokeweed]

And some of you think Doge is a pump and dump shitcoin...  Shame on you...

http://www.reddit.com/r/dogecoin/comments/31gmub/dogecoin_4_bitcoin_the_bitcoin_devs_need_our_help/

EDIT:  And yes, Bitcoin is bankrupt in the news incoming...

[redsn0w]

Do we really need  Bitcoin Foundation?
As a decentralized currency, a centralized organization is totally inappropriate。

Yes, we need it but they should remember that bitcoin is decentralized .... and their influence should not be so high, because without a large consent their decision be equal to zero.

And some of you think Doge is a pump and dump shitcoin...  Shame on you...

http://www.reddit.com/r/dogecoin/comments/31gmub/dogecoin_4_bitcoin_the_bitcoin_devs_need_our_help/

EDIT:  And yes, Bitcoin is bankrupt in the news incoming...

Dogecoin is only an altcoin, like litecoin and all the others (but their old initiatives are very good).

[NyeFe]

There we go again, one organisation representing Bitcoin?

We need to keep with the decentralised flow. Theres many developers on this forum, and many who are also capable of developing the bitcoin core. Im sure some would be willing to freely commit to the project.
I still cant understand the reason to have a decentralised system, where almost all the power is unquestionably handed to a single group of people, who can slow down development, get threatened by government entities, get infiltrated by corrupt entities, and enforce restrictions or changes to Bitcoin freely, and at any moment.

My point is, Bitcoin is a decentralised system, and it needs to stay decentralised at whatever cost. Theres no point of Bitcoin being decentralised if we still require a single organisation to make choices for everyone, which will ultimately impact the foreseeable future of Bitcoin and the global adoption of the blockchain.

[mprep]

Do we really need  Bitcoin Foundation?
As a decentralized currency, a centralized organization is totally inappropriate。

The Foundation was meant to be a representative for Bitcoin in the mainstream world (especially in mainstream business from what I gather). It was supposed to be a some sort of a democratic frontend for the decentralized and free backend, dealing with all the bullshit the non-bitcoiners threw at it. This, however, got twisted to something much less desirable and turned into the organization most of the people in the community feared it will become - an influential group full of corrupt rich people with the intent of becoming even more wealthy and push out anyone from the Foundation that wanted something other (for example, positive development of cryptocurrencies, clearing misconceptions about Bitcoin in the mainstream society or general promotion and spreading awareness about a free and cheaper alternative to transact money, especially online).

Although, some might over-emphasize the influence of the Foundation in the Bitcoin enthusiast community but they are quite a big figure which some might notice if they haven't put in much though about Bitcoin or are new to it.

[unamis76]

This foundation went from something terrible to a complete joke very fast. It's the same old story: the higher the shelves, the more useless they become.

I hope the foundation simply disappears once and for all. It has been causing too much trouble. The people who could push forward such initiative don't have the time to do so, and even if they had, they wouldn't like to have their names associated with a Bitcoin Foundation.

Also, it's a good time to stop crediting these guys and stop them from being news.

[umairsaleem]

This foundation went from something terrible to a complete joke very fast. It's the same old story: the higher the shelves, the more useless they become.

Actually you will find most stuffs related Bitcoin are completely terrible jokes, think about Mt.Gox or Bter, various scams, drug/gambling, money laundering, shity coins ....

[kelsey]

gotta love when the survival of a controlling body of a decentralised  cryptocurrencies hinges on fiat   

[tokeweed]

This foundation went from something terrible to a complete joke very fast. It's the same old story: the higher the shelves, the more useless they become.

Actually you will find most stuffs related Bitcoin are completely terrible jokes, think about Mt.Gox or Bter, various scams, drug/gambling, money laundering, shity coins ....

So sad you mentioned this...  It made me realize this is how the world outside of crypto think mostly.

I mean I believe cryptocurrencies could be big one day, but sometimes, with BTC being the currency of the future, could be a pipe dream.

[Cryddit]

Who decided who gets to be the main devs? The Bitcoin Foundation must have a big influence over them considering it pays them. It might not completely control Bitcoin, but it must have a big influence on the main devs, which gives it a certain amount of control over Bitcoin.

If you're willing to hire people, and you have the money, you get to decide whom to hire.  If you were to hire another full-time dev, I'm quite sure the ones hired by the Bitcoin foundation would welcome his or her contributions, the same way they welcome volunteers. 

[cryptocult live]

This does not affect bitcoin negative at all. I hope they shut it down.

Why is everyone so obsessed with TBF? There's enough alternative foundations around to not care about this unappointed and misorganised group of snobs.

[RaginglikeaBoss]

gotta love when the survival of a controlling body of a decentralised   cryptocurrencies hinges on fiat  

This could not be said more accurately or succinctly.

[RodeoX]

So many words, so little understanding.

[kelsey]

So many words, so little understanding.

words spoken by a true bitcoin foundation life member in it for the fiat

example even from just your last post ; "k, I didn't get rich arguing about bitcoin. I got here understanding it."

so I ask you whats the point of being a alternative to the greedy bankers controlled fiat, if those in control of bitcoin are the new greedy bankers?

[bg002h]

I'm glad the new board members are having an impact. Not particularly professional how things have been handled, imho, but the fact is that things are being discussed openly, and that's a good thing. The foundation is what the members make of it. I think lack of funds will make it easier to set priorities...I like the idea of having core mission expenses being paid for by lighthouse style fundraising. If people don't like an idea, it won't get funded. If they do, the support base could be much broader.

[remotemass]

We need books that teach us about bitcoin core source code at the same time as they teach us all the C++ Standard Template Library and prigranning knowledge we may be missing.
Learning C++ with the bitcoin source code without Master...
All that we know you will find difficult even if you know some C++ and OOP.

[Cruxer]

A lot of drama going on right now with the foundation...

Olivier I'm not going to respond to your trolling and false accusations. Enjoy your moment in the spotlight.

Won't respond but by me, too many shady people are in foundation and too many bought their membership :| sad....

[chmod755]

I'm glad the new board members are having an impact. Not particularly professional how things have been handled, imho, but the fact is that things are being discussed openly, and that's a good thing. The foundation is what the members make of it. I think lack of funds will make it easier to set priorities...

The impact of someone bitching about BF management on reddit for easy karma? I'm waiting for them to actually get things done before I'm praising them...

[Bit_Happy]

Everyone has the right to know the truth:

- The Foundation has almost no money left, and just fired 90% of its people. Some will stay on as volunteers.
- Core dev can no longer be funded by it, and Patrick Murck is trying to re-create a new Foundation just for core dev, because the current name is tarnished. Do not fall for this.
- The current Executive Director (Patrick Murck), will be gone in 2 weeks, and they are trying to find the next person to blame everything on.
- Jim Harper was threatened for doing a press release which was (barely) critical of the Foundation after he got elected. The Foundation tries to make sure we hide the truth by subtly threatening us on a regular basis.
- If I get asked to leave the Foundation for telling the truth, so be it. The truth is being told.

Moving forward:

- A special trust fund is being created and I will donate several 100k to pre-pay Gavin’s, Wladimirs and some other core devs wage for the next year (if they choose to accept). The control of this trust fund will be handed over to the core devs, who can decide who can join it. Alternatively, we can give voting power to everyone who puts money in it (pro-rata). I will also organize crowdfunds and help make this fund public. At no point do I want to have any control whatsoever.

- It is up to the members of the Bitcoin Foundation to decide what they want to do now. The bylaws allow for a special board meeting to be called by 15% of members. I would recommend you to do so and ask for all information to be released so you can learn the truth. Additionally I would recommend for you to replace the whole board if you want this organization to last. Alternatively you can vote to shut it down and get your money back. There might not be enough money left in the Foundation to pay its members back, but I will personally try to help make up the difference, even though I have not been part of it.

The lesson for all of us in Bitcoin is to never put any trust in a centralized org again that wanted to represent Bitcoin or the Core Development of Bitcoin.


Well, I have a new respect for "the truth".

[Btcvilla]

The Bitcoin Foundation is stupid, I don't why people are supporting it.

[stevenh512]

power corrupts...you need some kinda rules/setup to tweak the bitcoin core...and perhaps pay for coders etc.....not sure ...how does it work for linux stuff?

Any company (a few obvious examples would be Red Hat, Canonical, Google, IBM) is free to hire developers and/or find volunteer developers to contribute to whatever GNU or Linux projects they want. Those developers submit patches just like you or I could, if the project's developer community (especially core devs) likes the patches they get included. Some of these people eventually end up getting commit access or even being core developers on their chosen project. For companies like Red Hat and Canonical who package their own Linux distributions, if their patches aren't accepted upstream they're still free to maintain those patches and package them with their own distro.

No central authority is really needed beyond those people who have commit access on GitHub (or wherever else the code is stored) reviewing patches and deciding which ones to merge.

[galbros]

Everyone has the right to know the truth:

- The Foundation has almost no money left, and just fired 90% of its people. Some will stay on as volunteers.
- Core dev can no longer be funded by it, and Patrick Murck is trying to re-create a new Foundation just for core dev, because the current name is tarnished. Do not fall for this.
- The current Executive Director (Patrick Murck), will be gone in 2 weeks, and they are trying to find the next person to blame everything on.
- Jim Harper was threatened for doing a press release which was (barely) critical of the Foundation after he got elected. The Foundation tries to make sure we hide the truth by subtly threatening us on a regular basis.
- If I get asked to leave the Foundation for telling the truth, so be it. The truth is being told.

Moving forward:

- A special trust fund is being created and I will donate several 100k to pre-pay Gavin’s, Wladimirs and some other core devs wage for the next year (if they choose to accept). The control of this trust fund will be handed over to the core devs, who can decide who can join it. Alternatively, we can give voting power to everyone who puts money in it (pro-rata). I will also organize crowdfunds and help make this fund public. At no point do I want to have any control whatsoever.

- It is up to the members of the Bitcoin Foundation to decide what they want to do now. The bylaws allow for a special board meeting to be called by 15% of members. I would recommend you to do so and ask for all information to be released so you can learn the truth. Additionally I would recommend for you to replace the whole board if you want this organization to last. Alternatively you can vote to shut it down and get your money back. There might not be enough money left in the Foundation to pay its members back, but I will personally try to help make up the difference, even though I have not been part of it.

The lesson for all of us in Bitcoin is to never put any trust in a centralized org again that wanted to represent Bitcoin or the Core Development of Bitcoin.


Well, I have a new respect for "the truth".

Thanks for laying this out.  Up until now I thought the foundation was pretty much a force for good for bitcoin acceptance and to respond to issues from the general public about bitcoin and represent bitcoin in front of officials.  Now I'm not so sure.  By definition foundations are supposed to have a stable endowment that they administer so if 90% of their funds are really gone that is exceptional mis-management.

[readysalted89]

The Bitcoin Foundation is stupid, I don't why people are supporting it.

There have been too many dodgy characters like Karples associated with it for it to be taken seriously. The only useful thing it does is pay the core devs.

[Snail2]

Who cares? The Foundation always concentrated it's efforts mainly on the US. They are quite insignificant everywhere else in the world.

[kelsey]

Who cares? The Foundation always concentrated it's efforts mainly on the US. They are quite insignificant everywhere else in the world.

Agree Foundations just a US centered seemingly self appointed group, that others pay to join, more concern is the control over the code the core developers have., also the foundations input into various US regulations regarding bitcoin.

Gavin by his own admission only needs to convince 5 others and pretty much anything can be changed in the code. trustless system doesn't mean trust 5 random internet people (that could have any self serving personal interests, or paid by commercial interests) with the code.

In an opensource community why pay the core devs so much, really Gavin needs 100k? Correct me if I am wrong but last time I looked he had atleast 25k bitcoin?

[Anotherthing]

...
In an opensource community why pay the core devs so much, really Gavin needs 100k? Correct me if I am wrong but last time I looked he had atleast 25k bitcoin?

Well, see, that's where you're wrong.
It's not Gavin's fault he got paid so much, apparently it was just an accounting quirk introduced by Miss Lindsay Holland, who only earned $160k/yr, so minor slipups like that are perfectly understandable.

As Gavin put it,

Secretary work?

Lindsay WAS the Foundation at the beginning, and did EVERYTHING (including single-handedly organizing the San Jose conference).

She, like me, got a huge salary boost because the Foundation's original policy was to set the exchange rate for paying salaries once per quarter. That policy changed pretty quickly (neither Lindsay or I had any influence on our own salaries or the policies for how they were paid) to "use the CoinDesk price index on payday."

You have to remember that even simple things like "which exchange rate should be used to pay employees" didn't have simple answers back then (nobody had created a cross-exchange, volume-weighted price index).

I believe she left the Foundation partly because of annoying misogynistic Internet trolls like the ones found in this very thread....

[Btcvilla]

The Bitcoin Foundation is stupid, I don't why people are supporting it.

There have been too many dodgy characters like Karples associated with it for it to be taken seriously. The only useful thing it does is pay the core devs.

And the community can donate to the devs, the Bitcoin Foundation is useless.

[Bitcoinpro]

Janess is just trying to print his way into control of the company

where is the profit coming from ?

he is going to buy them with premined fiat

that not many people are recognizing anymore other than a

means to and end before Crypto takes over

[RodeoX]

So many words, so little understanding.

words spoken by a true bitcoin foundation life member in it for the fiat

example even from just your last post ; "k, I didn't get rich arguing about bitcoin. I got here understanding it."

so I ask you whats the point of being a alternative to the greedy bankers controlled fiat, if those in control of bitcoin are the new greedy bankers?

Well that was in response to a claim that credit cards are cheaper than BTC. But anyway, I have no problem with the greed of banks, I expect it. The problem is that they have gamed the monetary system to keep the poor poor and the rich rich. The levers of supply and their control over the movement of money are things not possible with bitcoin. To me, bitcoin is just fair money and greed is a basic human behavior. The two are not related.  

[kelsey]

The levers of supply and their control over the movement of money are things not possible with bitcoin.

sure their not? as we speak bitcoin powers to be are trying to hold a monopoly over cryptocurrency, under the guise of alts being a distraction from the main game   sidechains and the like 

bankers and their monopolies 

[LiteCoinGuy]

Bitcoin Foundation Divided Over Controversial Restructuring Proposal

http://www.coindesk.com/bitcoin-foundation-funds-board-divided/

[abyrnes81]

Bitcoin Foundation Divided Over Controversial Restructuring Proposal

http://www.coindesk.com/bitcoin-foundation-funds-board-divided/

I think we don't need a centralized organization for the bitcoin.

Secretary work?

Lindsay WAS the Foundation at the beginning, and did EVERYTHING (including single-handedly organizing the San Jose conference).

She, like me, got a huge salary boost because the Foundation's original policy was to set the exchange rate for paying salaries once per quarter. That policy changed pretty quickly (neither Lindsay or I had any influence on our own salaries or the policies for how they were paid) to "use the CoinDesk price index on payday."

You have to remember that even simple things like "which exchange rate should be used to pay employees" didn't have simple answers back then (nobody had created a cross-exchange, volume-weighted price index).

I believe she left the Foundation partly because of annoying misogynistic Internet trolls like the ones found in this very thread....

[Bitcoinpro]

Please add names and dates if your going to start posting who leaves and when cause we all know about the history of the place, and their could be hundreds of different reasons depending on when they either joined or left

[RodeoX]

The levers of supply and their control over the movement of money are things not possible with bitcoin.

sure their not? as we speak bitcoin powers to be are trying to hold a monopoly over cryptocurrency, under the guise of alts being a distraction from the main game   sidechains and the like 

bankers and their monopolies 

I know what you mean, but I must go along with their games for me to be duped. With fiat you can be ripped off in broad daylight and there is nothing you can do about it. My friends in the banking space tell me that they no longer laugh at bitcoin. It is starting to be recognized as a real threat. There will a response, perhaps some kind of campaign to paint crypto as dangerous and credit card companies as your friend.

Bottom line is that banks compete with you for bitcoins and can't stop you from using them. It's the first time they have had to face the specter of people engaged in commerce without their approval. More importantly, without them receiving a cut.

[thejaytiesto]

https://bitcoinfoundation.org/forum/index.php?/topic/1284-the-truth-about-the-bitcoin-foundation

They had Mark Karpeles as a member of the original foundation  apparently, it's going to be a hard work for them to regain credibility.

[iGotSpots]

Pretty sure people have caught on to credit cards being terrible. They just haven't been presented a solution well enough, yet

[Gleb Gamow]

Imagine what shape the TBF would be in if KnC didn't send them $100K USD to become a platinum member prior to the previous election. Can't wait to see the tax form for 2014 in the coming days. I have a hunch!

[bobcaticus]

I was there full time for about 3 months.  Let go conveniently right after my pre-approved honeymoon.

I find it very interesting how hard the Bitcoin Foundation is trying to cover up ex-employees statements, like myself.  What are you hiding?

I can easily tell you how much they look down and mock people like Andreas, who single-handedly does more than the BTCF ever has done.

I had to explain to my old boss, how Bitcoin worked.  He had no idea.  He was just a sales guy who wanted numbers.  They all wanted numbers.

The Affiliate Program was nothing more than a front to get more money.  Some chapters had to give 50% - 80% of their new memberships to the Foundation.  We offered nothing in return, except the logo.  Some chapters didn't even have bitcoin foundation members, and one didn't even have any Bitcoin at all.  Just a publicity stunt fronted by the all-mighty directors.

[Mikestang]

Nothing says "Bitcoin is a-ok and here to stay" to the general public like a mismanaged namesake foundation that is out of money.

[¡ndustrialcoinmagic]

I think this has been the best post ever made about the bitcoin foundation, seen how everything in that foundation is just going wrong.

[kelsey]

seems modern people (especially US citizens) are so ingrained with having controlling bodies they can't deal with not having one.

[zyzzbrah]

Bitcoin is the invent of the century, but the Bitcoin Foundation is Questionable.

[Bit_Happy]

FYI: If you Google "bitcoin is out of money", you get an interesting mix of results.
https://www.google.com/search?q=bitcoin+is+out+of+money&ie=utf-8&oe=utf-8