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Author Topic: [ANN] Bitcoin Foundation  (Read 67408 times)
Gavin Andresen
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September 27, 2012, 10:18:51 AM
 #1

I'm pleased to announce the launch of the Bitcoin Foundation:
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Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide.
https://www.bitcoinfoundation.org/

The Bitcoin Foundation is modeled on the Linux Foundation. I think Linux is a great "role model" for Bitcoin; it is a very successful open source project that really embraced the notion of "open," encouraging the use of the core technology for a wide range of applications.

I hope that the Bitcoin Foundation will help do the same for Bitcoin.

Of course, "the Foundation" won't do anything at all-- people get things done. I want the Bitcoin Foundation to be an open, member-driven organization, and hope that you or your organization will not only become a member but will help the Foundation accomplish its mission.

Please visit the Foundation website for details, and please keep in mind that nothing is set in stone; the structure of the Foundation can be changed by a vote of its members, and exactly what the Foundation does will largely depend on who is willing to step up do the work to make things happen.

To any of you feel like you should have been invited to be part of the group who defined the initial structure and purpose of the Foundation: I apologize. But in my experience the larger the group, the longer it takes to get things done, and it has been 11 months since I first posted about the possibility of forming a Foundation.


In what will doubtless be an ineffective attempt to fend off the trolls, here are some answers to what I expect might be commonly asked questions:

Q: Is this the infamous September Announcement?

Yes.

Q: How do we know you won't just take our bitcoins and run?

We won't. The initial Foundation board members are all people with well established reputations using their real names.

Q: How do we know you won't lose our bitcoins to hackers?

We'll be using a cold wallet, with the private key securely backed up, for most of the Foundation's funds; in the near future I expect we'll be using a multisignature cold wallet, with keys controlled by multiple Board members to keep the funds even more secure.

Q: Is this just a front for the CIA? What is the hidden agenda?

No. And there is none.

Q: The Foundation is a corporation, and corporations (especially US corporations) are evil.

OK. So don't join-- go form your own non-corporate non-evil organization, or just ignore the Foundation and do whatever you think is right.

Q: How, exactly, is the Foundation going to spend the money it gets?

That depends on how many bitcoins it gets from memberships and donations. See Peter's "Letter from the Executive Director" for the current list of priorities, and see the Linux Foundation website for an idea of the types of things I hope the Bitcoin Foundation will be doing, assuming it has the funds.



Finally, thanks to Peter Vessenes, Patrick Murck, Mark Karpeles, Charlie Shrem, Jon Matonis and Roger Ver who stepped up and did the work necessary to get this started.

Will I see you in Amsterdam?
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bitcats
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September 27, 2012, 10:27:47 AM
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Is this project going in the direction of a bitcoin centralization?
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September 27, 2012, 10:35:01 AM
 #3

Getting those out of the way first
- OMG, Ponzi scam
- Is MNW involved in this?
- What's the APR?



Now for real: This is a much needed project for Bitcoin to mature, although I don't know how well the word "standardize" will mesh with current users. See the first reply to the thread. I'd venture a guess and say that many of the more anarchistic members will see this as an attack.

BTW, I assume the blue buttons on the homepage are supposed to lead somewhere. Right now that functionality is broken, nothing happens when clicking them.

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ElectricMucus
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September 27, 2012, 10:39:08 AM
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Doing great, this is the best idea i've seen in the Bitcoin world yet.
A little late, if that were done a little sonner that could have avoided several setbacks.

For all the naysayers: This does not increase centralisation of Bitcoin, but only corresopnds to the already existing centralisation of the Bitcoin project. What this does is only to make that more transparant.
If anything it decentralizes things because, you know you are free to apply to join the foundation.

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September 27, 2012, 10:41:17 AM
 #5

...

Great news Gaving, keep up the good work.

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Vandroiy
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September 27, 2012, 10:41:32 AM
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Looks cool. I don't think it's too much centralization either, shouldn't give more control than the dev team already has anyway.

Could have done without the "announcing the announcement" manipulation though. Tongue
Technomage
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September 27, 2012, 10:43:53 AM
 #7

This is really good!

However, what about transparency? I will be getting an annual membership to start with but to continue it I will require transparency on the use of the funds you receive.

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September 27, 2012, 10:47:05 AM
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However, what about transparency? I will be getting an annual membership to start with but to continue it I will require transparency on the use of the funds you receive.

I strongly think that will be provided once the project gets going and starts recieving funds.
Isn't that the etquette for any not-for-profit organisation anyway?

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September 27, 2012, 10:59:31 AM
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I like the idea - much needed
but
I think even silver membership is out of reach for many Bitcoin businesses that would like to be involved - I know it is for me.

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September 27, 2012, 11:11:07 AM
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I think Linux is a great "role model" for Bitcoin

Linux is not about money though. And money destroys friendships.  Cry

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bitcats
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September 27, 2012, 11:12:44 AM
 #11

I like the idea - much needed
but
I think even silver membership is out of reach for many Bitcoin businesses that would like to be involved - I know it is for me.

I think the foundation should definitely reconsider their "high-level" annuel dues.
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September 27, 2012, 11:13:43 AM
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I think even silver membership is out of reach for many Bitcoin businesses that would like to be involved - I know it is for me.

This is a great step forward for Bitcoin, but yes I agree the barrier to membership for Bitcoin businesses seems to be a bit high.
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September 27, 2012, 11:18:46 AM
 #13

... seems to be a bit high.
... a bit ??

My (more realistic) proposal:
  • Silver Membership: 100 BTC
  • Gold Membership: 500 BTC
  • Platinum Membership: 1500 BTC
Technomage
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September 27, 2012, 11:19:54 AM
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Yeah. Also I think it's questionable to have the membership fees in BTC instead of USD/EUR. It is in the "spirit of the foundation" but the truth is that at this stage the valuation of BTC is so not-where-it-could-be-in-5-years and that could significantly change the prices. The prices are already fairly high and Bitcoin has the potential to be much more valuable than now.

This might lead to a situation where you just have to lower the fees and then people who payed already would not be happy. This would not be a problem if it was USD/EUR. It could then be changed to BTC when BTC is actually a comparable currency to USD/EUR (which it most definitely is NOT, at the moment).

Currently the fee amounts are way out of reach for our Bitcoin startup company. The individual annual fee is fine but the business amounts are too high. It will probably take a year at least until our company could think of actually buying a membership - and I'm talking about the silver one.

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bangers
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September 27, 2012, 11:20:33 AM
 #15

Great stuff.

And yay! No damn yellow "B" coin logo abomination. That's certainly a step in the right direction (although I still think the new icon has room for improvement but an improvement at least). I do think that the foundation should include more professional graphical representation on its to-do list.
lonelyminer (Peter Šurda)
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September 27, 2012, 11:20:45 AM
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Wait a minute, Jeff Garzik promised me you'll be revealing Satoshi's real identity!

Other than that, well done, I joined right away Smiley.
greyhawk
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September 27, 2012, 11:24:44 AM
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I don't understand the problem here?

Those are actually pretty standard rates for any industry association. In fact, if anything, the rates for individual membership are very, very low compared to other comparable foundations.

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September 27, 2012, 11:34:24 AM
 #18

There are two bad links in the announcement:

(1) ... see the Linux Foundation website ... should link to http://www.linuxfoundation.org

(2) ... Peter's "Letter from the Executive Director" ... should link to https://bitcoinfoundation.org/about/letter



That said: Wooooooo! Yes! This is REALLY good news and a big step, nay, a big leap in the right direction.

Quote
Create an opt-in certification process for Bitcoin businesses.

Sanity checks are coming!!! I'm happy all over. Will be signing up pretty much immediately. Cheesy
Technomage
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September 27, 2012, 11:35:51 AM
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I don't understand the problem here?

Those are actually pretty standard rates for any industry association. In fact, if anything, the rates for individual membership are very, very low compared to other comparable foundations.

This is not your standard industry. Bitcoin economy has perhaps half a dozen companies currently that can possibly afford the higher industry membership fees. Half a dozen, give or take. Mostly it's filled with startup companies that likely can't afford even the Silver membership.

I don't really see a problem other than the fact that they have priced it in a way that they will actually get less money than they would if they would price it in another way. I'm fairly certain of this. The individual pricing is very good though, I have no issue with that.

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September 27, 2012, 11:41:03 AM
 #20

Thank you Gavin and the the other creators. I am pleased to see that serious developers and business makers have their dedicated "forum" now. I can continue getting entertained on Bitcointalk:) I don't see how this would centralize the bitcoin economy more than it is already by a few core developers and businessman. I highly appreciate this move.
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