Calling out the Bitcoin Foundation Scam.

[bananas]

Holding the keys has also made early comers to Bitcoin wealthy beyond measure. "I made a small investment in Bitcoin and it is actually enough that I could now retire if I wanted to," Andresen says. "Overall, I've made about $800 per penny I've invested. It's insane."

How legit is this high profile bitcoin foundation figure?

So he prefers US dollars over bitcoins? So he speculate instead of using it as a currency? Seems legit.

[bananas]

Except that we are not interested in telling people what they can and can't do with their money. Bitcoin was not designed as a speculative financial instrument, but you can try doing it anyway.

The news is full of statements of the foundation as its members as if it were an investment. Period. And if the foundation was legit they would tell, just tell, people what they can and can't do with it. No country tolerates speculation with its currency for obvious reasons, bitcoin should be no different.

I'm a speculator myself, but anything that has the intention of representing bitcoin can't be or have members who are.

[RodeoX]

Except that we are not interested in telling people what they can and can't do with their money. Bitcoin was not designed as a speculative financial instrument, but you can try doing it anyway.

The news is full of statements of the foundation as its members as if it were an investment. Period. And if the foundation was legit they would tell, just tell, people what they can and can't do with it. No country tolerates speculation with its currency for obvious reasons, bitcoin should be no different.

I'm a speculator myself, but anything that has the intention of representing bitcoin can't be or have members who are.

Ok then. I command you to stop speculating! 

But seriously, no one can or should make rules about what you do with your money. That would never fly at the foundation.

[bananas]

Except that we are not interested in telling people what they can and can't do with their money. Bitcoin was not designed as a speculative financial instrument, but you can try doing it anyway.

The news is full of statements of the foundation as its members as if it were an investment. Period. And if the foundation was legit they would tell, just tell, people what they can and can't do with it. No country tolerates speculation with its currency for obvious reasons, bitcoin should be no different.

I'm a speculator myself, but anything that has the intention of representing bitcoin can't be or have members who are.

Ok then. I command you to stop speculating!  

But seriously, no one can or should make rules about what you do with your money. That would never fly at the foundation.

I agree but it is not about rules, it is about the foundation representing Bitcoin. They are not doing it, and not giving the example themselves.

They are only representing speculators, cause that's exactly what they are.

From the foundation website:
"We approach that mission with Bitcoin’s technology and community as our focus. There is tremendous potential in Bitcoin—from the opportunities it creates for entrepreneurs to the purchasing power it provides for citizens of countries large and small."

 They are doing exactly the opposite by speculating,  they don't care for anything other than their own short term interests. The quoted statement is hilarious to me. It is a scam !

[KingOfSports]

Had a similar opinion to this group and the forum as a whole. What are they truly doing to further bitcoin besides holding conferences; yeah they're great, but are they advertising bitcoin? Not really.

The forum is great but the amount of donations kind of exceeds what is really needed. The bitcoins of the forum aren't even being used that much and there are a lot of things the forum could do to promote bitcoin as well as improve the forum and its code too. The forum, eye-attracting wise, isn't that alluring. I feel many would feel the same way here.

[QuestionAuthority]

They are moving the main office to the UK. "Section 1.1 Principal Office" of their Bylaws state they will maintain an office in DC which, of course, they never did because they're a virtual org. Now they are going to really have their first brick & mortar office and it will be somewhere other than stated in their own charter. What a clusterfuck of maniacal egomaniac geeks. I don't think there's a single upper member of that organization that I would let park my Mercedes if they worked as a valet. They must have completely screwed up all of the meetings in Washington so they are going to give the UK a try now. We will never know how badly they performed in Washington because they don't even keep their own membership informed. The membership must learn what's happening at the foundation from Reddit. lol

[Atruk]

Had a similar opinion to this group and the forum as a whole. What are they truly doing to further bitcoin besides holding conferences; yeah they're great, but are they advertising bitcoin? Not really.

The forum is great but the amount of donations kind of exceeds what is really needed. The bitcoins of the forum aren't even being used that much and there are a lot of things the forum could do to promote bitcoin as well as improve the forum and its code too. The forum, eye-attracting wise, isn't that alluring. I feel many would feel the same way here.

This forum hasn't been close to the center of BTC in quite some time.

[Bit_Happy]

Had a similar opinion to this group and the forum as a whole. What are they truly doing to further bitcoin besides holding conferences; yeah they're great, but are they advertising bitcoin? Not really.

The forum is great but the amount of donations kind of exceeds what is really needed. The bitcoins of the forum aren't even being used that much and there are a lot of things the forum could do to promote bitcoin as well as improve the forum and its code too. The forum, eye-attracting wise, isn't that alluring. I feel many would feel the same way here.

This forum hasn't been close to the center of BTC in quite some time.

Where is the center of BTC?

[Justin00]

turn left at the unicorn

Had a similar opinion to this group and the forum as a whole. What are they truly doing to further bitcoin besides holding conferences; yeah they're great, but are they advertising bitcoin? Not really.

The forum is great but the amount of donations kind of exceeds what is really needed. The bitcoins of the forum aren't even being used that much and there are a lot of things the forum could do to promote bitcoin as well as improve the forum and its code too. The forum, eye-attracting wise, isn't that alluring. I feel many would feel the same way here.

This forum hasn't been close to the center of BTC in quite some time.

Where is the center of BTC?

[MPOE-PR]

Holding the keys has also made early comers to Bitcoin wealthy beyond measure. "I made a small investment in Bitcoin and it is actually enough that I could now retire if I wanted to," Andresen says. "Overall, I've made about $800 per penny I've invested. It's insane."

How legit is this high profile bitcoin foundation figure?

So he prefers US dollars over bitcoins? So he speculate instead of using it as a currency? Seems legit.

Any revolutionary idea will be at first promoted by people that just happen to be around at the time. So he thinks the world in dollars, what of it. So he won't be around for much longer, at least not in the sense of relevance. What of it.

They are moving the main office to the UK. "Section 1.1 Principal Office" of their Bylaws state they will maintain an office in DC which, of course, they never did because they're a virtual org. Now they are going to really have their first brick & mortar office and it will be somewhere other than stated in their own charter. What a clusterfuck of maniacal egomaniac geeks. I don't think there's a single upper member of that organization that I would let park my Mercedes if they worked as a valet. They must have completely screwed up all of the meetings in Washington so they are going to give the UK a try now. We will never know how badly they performed in Washington because they don't even keep their own membership informed. The membership must learn what's happening at the foundation from Reddit. lol

It's always funny what comes out of geeks meeting politics.

But yes, leaving aside they failed to ever produce as much as a fucking report, let alone one up to standard, asking them for minutes seems way over the top. And besides, who wants more of that crap.

Where is the center of BTC?

IRC.

turn left at the unicorn

That's the other one.

[benjamindees]

It’s quite plain to anyone with a clue that 2FA/GA/whatever is roughly speaking the equivalent of the Windows antivirus, or more classically of the “spray some holy water on it”.

I'm glad someone else has noticed this.

It was thought out, constructed and initially run by Peter Vessenes

Apparently Shrem has taken credit for the idea.

[marquix]

Alt coins are and will remain a play thing. These are decided by the people who matter, and the people who matter aren't either the derps vying for the spotlight "doing" altcoins nor the derps vying for the spotlight "doing" foundations, conferences, articles and assorted bullshit.

I think you underestimate the alt-coins. If most people got burnt on MtGox they don't mind switch over to an alt-coin, they got nothing to lose.

Ripple is the best alt-coin right now since it's based on other assets than itself (the users add the intrinsic value).

but that is true of Mastercoin, too. Plus, Mastercoin is REALLY decentralized (not controlled by some Ripple Labs, Inc. holding the 'commodity' used in the system and, at the same time, being some totally un-decentralized and un-peer-to-peerish CENTRAL POINT OF FAILURE, if not authority, too)...

So taking your argument a step further, wouldn't Mastercoin also qualify as "best" then (or even "better-than-best")?

Just curious.

[mike2010]

Why not establishing new foundation, with paid members ( 0.00001 BTC), with voting system, and everything virtual?
Why let anyone take credit for anything, and get paid to talk on tv and other places!
If we can want to keep bitcoin free from Banks and Gov!We need to act professionally!

Foundation with serious members will gain respect!

Also someone should think about Central Bank idea! something totally new! Not a copy cat of Feb or other Central Bank current systems!

 

[Xelpherpolis]

Bitcoin Foundation? .... please go away. Its amazing how powerful these geeks delude themselves to be.

[QuestionAuthority]

OP please lock this thread. It's served its purpose and you were proven right. TBF is a bunch of scummy fucks. Oh, never mind. I forgot you're permabanned.


Off-topic discussion was moved to Meta https://bitcointalk.org/index.php?topic=608857.0

[freebit13]

The scam may have just gone too far...

http://www.coindesk.com/bitcoin-foundation-members-resign-following-controversial-appointment/

[raskul]

this is perhaps something like how a real foundation *should* have been set up
http://sovereign.rgspix.com/?p=4

TheScribe(Europe) has been working on this idea for a long time now, and we are close to (re)launching our alt coin - The Sovereign.
this coin will in no way compete with Bitcoin, but it would have been nice if 900TH/s hadn't dumped an attack on us, right out of the gate a launch (justsaying).

so.. foundation.. isn't that a form of make-up for the female gender (and actors)