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August 30, 2013, 02:05:29 AM |
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We have a few problems with the Bitcoin Foundation. One is a more recent problem, and some others are a trust and transparency problem.
#1 They haven't communicated anything of importance about their recent trip to Washington. I imagine they either signed or verbally agreed to keep what was talked about secret for now or possibly forever. (This is not good)
#2 The Bitcoin Foundation finances are not public. (This is not good)
#3 The Bitcoin Foundation seems to have some serious conflicts of interest. A. Marco Santori (Regulatory Affairs Committee Chair) -- Attorney, interested in rules being created to regulate Bitcoin. Who would have thought? B. Peter Vessenes (CoinLab) suing Mark Karpeles (Mt.Gox), and they are both board members. C. Charlie Shrem - BitInstant (which doesn't work at all right now because the banks aren't playing nice) D. There are many more.
It seems at this point, that the Bitcoin Foundation will probably make compromises with the united states government (and other governments), banks, etc., so that these individual businesses and future businesses can exist and make $$$. I don't really think they share the bitcoin vision that I think most of the community has. It seems to be fast becoming a self serving entity.
A couple of people I do like at the foundation are Jon Matonis and Patrick Murck.
I have been a member since November and I never had the opportunity to vote on the following, they were simply appointed: Regulatory Affairs Committee Chair Education Committee Chair Law and Policy Committee Chair Legal Advocacy Committee Chair
The legal advocacy committee chair is Brian Klein, who, with his recent visit to washington, educated the lawmakers there about different techniques and tools to identify bitcoin users and control them.
So, by-and-large, being a member is sort of ok, but not really. You can already see the concentrations of power, and how they let the little guy (foundation member) interact with the big boys.
So basically what is happening here, is that instead of them hiring a lobbyist (which was a plan, once upon a time), the whole fucking foundation functions as a lobby for the bitcoin foundation's special interests. They don't seem to give a flying fuck about you, the regular bitcoin user. And they have also already taken the stance of compromise with lawmakers. (read, big banking, etc etc) They have to so that their businesses can make them $$$ in the future. Notice I use the symbol $. Not the bitcoin symbol.
Now, with that said, its possible that their work will greatly benefit the whole community. Time will tell on this. My gut feeling is that their compromises will only benefit certain businesses, law enforcement, IRS collections (so they can fund more businesses like bankrupt Solyndra), etc.
Be careful who you give trust to. Right now I'm giving the Bitcoin Foundation an Integrity Grade of D, and a Transparency Grade of F at the moment.
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