[2015-04-13] PCWorld: New Bitcoin Foundation chief eyes crowdfunding

[pitham1]

New Bitcoin Foundation chief eyes crowdfunding

http://www.pcworld.com/article/2909712/new-bitcoin-foundation-chief-eyes-crowdfunding.html

The newly appointed head of the Bitcoin Foundation, a group that promotes development of the digital currency, believes crowdfunding is one part of the solution for its troubled finances.

... The move follows an admission by the foundation that it faces large financial problems linked to the drop in the value of its bitcoin holdings. It rejected board member Olivier Janssens’ claim that it is effectively bankrupt.

[Kprawn]

For crowdfunding to be affective, you have to have a "crowd" who believe in the services and contributions you offer the community.

The Bitcoin foundation has not made a lot of friends over the years and the "crowd" seems to be backing the Dev's and not the centralized management of the foundation.

The latest allegations against them, seems to put oil on the fire.... and people wants them to go bankrupt. I see a future where "crowdfunding" would fund the salaries of the developers and the rest will have to fade away OR bigger business have to fund everything through donations and sponsorship. 

[ashour]

For crowdfunding to be affective, you have to have a "crowd" who believe in the services and contributions you offer the community.

The Bitcoin foundation has not made a lot of friends over the years and the "crowd" seems to be backing the Dev's and not the centralized management of the foundation.

The latest allegations against them, seems to put oil on the fire.... and people wants them to go bankrupt. I see a future where "crowdfunding" would fund the salaries of the developers and the rest will have to fade away OR bigger business have to fund everything through donations and sponsorship. 

The crowd will probably just crowdfund the developers, darkwallet is getting crowdfunded constantly and other project will be crowdfunded by the bitcoin community. There won't be a place for the bitcoin foundation once the bitcoin community is sick and tired by their decisions.

[PolarPoint]

Crowdfunding usually means project is funded by many small investors. You cannot crowdfund the Bitcoin foundation,  they have no product to pay us back for our investment. He should say donations. 

[RodeoX]

Crowdfunding usually means project is funded by many small investors. You cannot crowdfund the Bitcoin foundation,  they have no product to pay us back for our investment. He should say donations. 

Yeah, I think he was thinking of a model more like kickstarter. As you mention, it's not really an investment. It would be a nightmare to manage, and only qualified investors can put up money like that. There may be a loophole if the BF structured itself as a kind of co-op, but it would be far more trouble than it's worth.