To understand what is the Bitcoin Foundation you have to understand where it come from. The idea of a foundation for the Bitcoin software came originally from Gavin Andresen, the core developer which was trusted by Satoshi Nakamoto to look after the Bitcoin open source code. On 25th October 2011 he proposed the idea for the first time:
Bitcoin is revolutionary because it is decentralized, with no single point of control or failure.
However, over the last six months or so it has become obvious to me that the rest of the world isn't set up to interact with a radically decentralized system like Bitcoin, and I think forming a not-for-profit organization will be a positive step towards Bitcoin's long-term success.
I'm posting this to see if there is a consensus on what a Bitcoin Foundation should be.
To get the conversation started, here are some functions I think a Bitcoin Foundation could perform:
- Interact with the legal system, where a centralized entity is needed: for example, to hold the Bitcoin trademark, own/control the bitcoin.org domain name, etc.
- Act as a central library for accurate information about Bitcoin, so journalists and policymakers have an 'official' place to learn about Bitcoin.
- Collect donations to fund infrastructure necessary for Bitcoin's growth (organize regular developers' conferences or get-togethers maybe? pay for development of cross-implementation testing tools? pay core developers' salaries? create a certification/testing program for Bitcoin implementations? create a central clearinghouse for information about legal issues surrounding Bitcoin across the world?)
Other not-for-profit organizations that could be emulated:
- The Anti-Phishing Working Group (the APWG's chairman, David Jevans http://en.wikipedia.org/wiki/David_Jevans, is willing to help make a Bitcoin Foundation happen).
- The Tor Project
- The Apache Software Foundation
Are there others that work well, or are there examples of what NOT to do? Assuming there is rough consensus that a Bitcoin Foundation is a good idea, I would like to get something imperfect up and running quickly, with the expectation that it will evolve over time.
After almost one whole year, on 27th September 2012, Gavin Andresen announced the formation of the Bitcoin Foundation:
I'm pleased to announce the launch of the Bitcoin Foundation:
https://bitcointalk.org/index.php?topic=113400.0The 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.
