Bitcoinpro (OP)
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April 07, 2015, 02:15:24 PM |
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http://cointelegraph.com/news/113873/bitcoin-foundation-is-effectively-bankruptthey are bankrupt supposedly so what value would be left in this psudo company? id suggest being able to come up with 6 months salary for all the board members would be about the maximum buyout value if not 6 weeks
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Pushtheghost
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April 07, 2015, 02:19:12 PM |
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If it's bankrupt it'll technically sell to someone for a dollar but they'll take over all of the company debt too.
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Bitcoinpro (OP)
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April 07, 2015, 02:21:06 PM |
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If it's bankrupt it'll technically sell to someone for a dollar but they'll take over all of the company debt too.
a few maxed out $50,000 credit cards no doubt with 25% interest
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QuestionAuthority
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You lead and I'll watch you walk away.
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April 07, 2015, 02:42:58 PM |
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Their money came from the membership fees of people recruited on this forum. At the time they were funding their little club the people here were gung ho early miners with plenty of btc to throw around. Those guys are gone now. Some of them got screwed out of their vast bitfortunes by scammers like pirate and others grew tired of the BS from the foundation. Hell, some of the scammers and crooks were founders of TBF. At this point, unless they find a gullible benefactor with deep pockets, their chances of getting enough funding to stay afloat are slim. See this thread for research: https://bitcointalk.org/index.php?topic=113400.0
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Bitcoinpro (OP)
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April 07, 2015, 03:04:24 PM |
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1 satoshi Is bitcoin core going to be abandoned, someone else will take care of bitcoin core development it pretty much just gets posted on this forum and all the other forums anyway, its up to 50% of miners to make the switch depending on the level of changes etc it would be a group consensus when its needed no doubt, can see plenty of reasons why the miners would group together to adopt some changes as Bitcoin grows,
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QuestionAuthority
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April 07, 2015, 03:08:02 PM |
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1 satoshi Is bitcoin core going to be abandoned, someone else will take care of bitcoin core development It should be a volunteer system where coders from around the world work together to maintain Bitcoin. However, there is a greater possibility that self interested businesses making money from Bitcoin will pay coders to maintain the system because it's their cash cow.
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Bitcoinpro (OP)
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April 07, 2015, 03:14:08 PM |
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1 satoshi Is bitcoin core going to be abandoned, someone else will take care of bitcoin core development It should be a volunteer system where coders from around the world work together to maintain Bitcoin. However, there is a greater possibility that self interested businesses making money from Bitcoin will pay coders to maintain the system because it's their cash cow. Miners have to agree anyway and then their is alts, it really is a low profit avenue to anyone who doesn't have an incredible knowledge of how everything works,
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abyrnes81
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April 07, 2015, 03:17:26 PM |
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100 satoshi
I think we don't need that organization and it doesn't represent bitcoin, one question : was not bitcoin decentralized? Why didn't they intervene in the mt.gox crash (karpeles was a member of that foundation)?Again we don't need them, if someone want to code he should be a "volunteer" nothing else.
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Bitcoinpro (OP)
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April 07, 2015, 03:25:23 PM |
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100 satoshi
I think we don't need that organization and it doesn't represent bitcoin, one question : was not bitcoin decentralized? Why didn't they intervene in the mt.gox crash (karpeles was a member of that foundation)?Again we don't need them, if someone want to code he should be a "volunteer" nothing else.
its an attempt to make a group or organization strong that represents good principles whether it be releasing mining code or standards or something else and at the same time people being able to have an income from doing a rewarding job, their is hundreds of such organizations representing everything else and virtually none of them have any meaning either yet your fiat tax dollars and everyone's else funds them day in day out while they hide under their desks and receive a salary, the only reason that they get paid is because its someone in the fiat chain handing out money to people they want to see have a good life for watever reason and this is currently a link missing in the Cryptocurrency chain,
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Fabrizio89
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April 07, 2015, 03:30:13 PM |
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Ha, not surprised at all. Natural selection.
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QuestionAuthority
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April 07, 2015, 03:34:19 PM |
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1 satoshi Is bitcoin core going to be abandoned, someone else will take care of bitcoin core development It should be a volunteer system where coders from around the world work together to maintain Bitcoin. However, there is a greater possibility that self interested businesses making money from Bitcoin will pay coders to maintain the system because it's their cash cow. Miners have to agree anyway and then their is alts, it really is a low profit avenue to anyone who doesn't have an incredible knowledge of how everything works, Of course, I just expect Coinbase, Circle, BitPay, mining farms and others to pay for maintaining the system. Their livelihood depends on it.
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MiningAtlas
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April 07, 2015, 03:34:40 PM |
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cashflow is king so they say and their cashflow must be hurt recently.
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s.mouse
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April 07, 2015, 03:37:17 PM |
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Their worth: worthless. Their money came from the membership fees of people recruited on this forum. At the time they were funding their little club the people here were gung ho early miners with plenty of btc to throw around. Those guys are gone now. Some of them got screwed out of their vast bitfortunes by scammers like pirate and others grew tired of the BS from the foundation. Hell, some of the scammers and crooks were founders of TBF. At this point, unless they find a gullible benefactor with deep pockets, their chances of getting enough funding to stay afloat are slim. See this thread for research: https://bitcointalk.org/index.php?topic=113400.0It always surprises me how much money people will pay to join little clubs or buy titles. Look at the forum here and how many people bought donator or vip status. I know bitcoin was much cheaper back when they bought them but still not worthless and they ended up paying over the odds for a mere title. Bet most regret that now.
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Bitcoinpro (OP)
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April 07, 2015, 03:42:03 PM |
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if memberships where their cashcow then they must have run out ages ago and where running on credit cards or something, maybe just washing dishes who knows
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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April 07, 2015, 03:49:21 PM |
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They are a part of bitcoin core development, so it sucks to see them like this, it would be best that lets say 10% of the transaction fees go to them, but that would mean a centralisation of some sort, and we all know how you guys react to that.. If they get donations, like they should from big bitcoin companies that also depend on them, they should be fine, but donations are a temp fix, so i still think that % of the transaction fees is the best way to go.
cheers
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QuestionAuthority
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You lead and I'll watch you walk away.
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April 07, 2015, 03:50:11 PM |
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Their worth: worthless. Their money came from the membership fees of people recruited on this forum. At the time they were funding their little club the people here were gung ho early miners with plenty of btc to throw around. Those guys are gone now. Some of them got screwed out of their vast bitfortunes by scammers like pirate and others grew tired of the BS from the foundation. Hell, some of the scammers and crooks were founders of TBF. At this point, unless they find a gullible benefactor with deep pockets, their chances of getting enough funding to stay afloat are slim. See this thread for research: https://bitcointalk.org/index.php?topic=113400.0It always surprises me how much money people will pay to join little clubs or buy titles. Look at the forum here and how many people bought donator or vip status. I know bitcoin was much cheaper back when they bought them but still not worthless and they ended up paying over the odds for a mere title. Bet most regret that now. Yes, it is funny how important people think those things are. I remember in 2011-12 everyone was preaching about how valuable btc will be some day. They would say it should go to $10,000 each in a few years. But those same people were throwing btc at any group that asked for it. Either they planned to give away $250,000-$500,000 for a membership or they never really believed Bitcoin would be worth very much.
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QuestionAuthority
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You lead and I'll watch you walk away.
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April 07, 2015, 03:59:54 PM |
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They are a part of bitcoin core development, so it sucks to see them like this, it would be best that lets say 10% of the transaction fees go to them, but that would mean a centralisation of some sort, and we all know how you guys react to that.. If they get donations, like they should from big bitcoin companies that also depend on them, they should be fine, but donations are a temp fix, so i still think that % of the transaction fees is the best way to go.
cheers
Better yet, let's just redesign Bitcoin to pay a percentage of the block reward to TBF forever and lock the reward amount at 25 btc. Dude, you can't be serious about the transaction fees, right?
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var53
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April 07, 2015, 04:06:37 PM |
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They are a part of bitcoin core development, so it sucks to see them like this, it would be best that lets say 10% of the transaction fees go to them, but that would mean a centralisation of some sort, and we all know how you guys react to that.. If they get donations, like they should from big bitcoin companies that also depend on them, they should be fine, but donations are a temp fix, so i still think that % of the transaction fees is the best way to go.
cheers
Better yet, let's just redesign Bitcoin to pay a percentage of the block reward to TBF forever and lock the reward amount at 25 btc. Dude, you can't be serious about the transaction fees, right? Instead of letting people donate to the Bitcoin Foundation so they can pay the core devs why not cut out the middle man and let people donate directly to the core devs?
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