How much is the Bitcoin Foundation worth ?

[Bitcoinpro]

http://cointelegraph.com/news/113873/bitcoin-foundation-is-effectively-bankrupt

they 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

[rememberme]

1USD 

[Pushtheghost]

If it's bankrupt it'll technically sell to someone for a dollar but they'll take over all of the company debt too.

[Bitcoinpro]

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

[QuestionAuthority]

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

[Bitcoinpro]

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,

[QuestionAuthority]

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.

[Bitcoinpro]

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,

[abyrnes81]

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.

[Bitcoinpro]

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,

[Fabrizio89]

Ha, not surprised at all. Natural selection.

[QuestionAuthority]

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.

[MiningAtlas]

http://cointelegraph.com/news/113873/bitcoin-foundation-is-effectively-bankrupt

they 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

cashflow is king so they say and their cashflow must be hurt recently.

[s.mouse]

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=113400.0

It 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.

[Bitcoinpro]

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

[ajareselde]

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

[QuestionAuthority]

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=113400.0

It 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.

[freemind1]

See the link below and you'll know why the Bitcoin foundation is in bankrupt. Salaries millionaires got to finish until the money. $ 160,000 for secretary work? It is crazy.

https://bitcointalk.org/index.php?topic=1013053.msg11004704#msg11004704

[QuestionAuthority]

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?

[var53]

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?