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albert11
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February 20, 2015, 09:51:24 PM
 #1

The problem with a bitcoin foundation is that it creates a central point for decision and corruption.
Government will start to legitimize this foundation, as time goes by they will grant  them more and more power backed by actual law.
When the foundation will be the legitimate central point for decision then they will corrupt the director of the foundation and people voting within the foundation, they will pay these guys millions to modify the code as they please.

This is a real threat and the members of the foundation might not even realize this yet while others knows and will take advantage of it

I think the community needs to create multiple foundation to make the current system irrelevant or sign a petition  ( though i doubt much will happen but at least it could be a test to see if they act in the community's interest or not)


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February 20, 2015, 09:54:01 PM
 #2

Inspite of all the allegations against bitcoin foundation, I still believe, if there were no bitcoin foudnation, the development of bitcoin core could not be what it is today.

By the way, there are more than one foundation in existence. The Bitcoin Foundation is only the most prominent one.

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February 20, 2015, 09:55:23 PM
 #3

Agreed, long-term they are a serious unresolved issue:
What is the worst thing the Bitcoin Foundation could actually do?

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February 20, 2015, 09:59:03 PM
 #4

Most Anarchists would certainly agree with you on that point, the problem is there are others here who genuinely seem to think that it's a good thing to have these people work on our behalf with the U.S government.
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February 20, 2015, 10:00:42 PM
 #5

The problem with a bitcoin foundation is that it creates a central point for decision and corruption.
Government will start to legitimize this foundation, as time goes by they will grant them them more and more power backed by actual law.
When the foundation will be the legitimate central point for decision then they will corrupt the director of the foundation and people voting within the foundation, they will pay these guys millions to modify the code as they please.


I really have no idea how we could get rid of it, but trust me this is a real threat and the members of the foundation might not even realize this yet.

I think the community needs to create multiple foundation to make the current system irrelevant or sign a petition to get rid of it ( though i doubt much will happen but at least it could be a test to see if they act in the community's interest or not)

You are a little late. The BF has been around for more than 2 years. Anyway, it doesn't have any power over anyone. It doesn't represent anyone but its members. It is a private organization. You can't get rid of it by signing a petition any more than you can get rid of AARP by signing a petition.

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Lethn
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February 20, 2015, 10:02:53 PM
 #6

Who said anything about signing a petition for fucks sake? Cheesy But yes, they're fairly powerless, the problem will come though is if they get any kind of official backing from politicians, that's my worry.
albert11
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February 20, 2015, 10:05:52 PM
 #7

Inspite of all the allegations against bitcoin foundation, I still believe, if there were no bitcoin foudnation, the development of bitcoin core could not be what it is today.

By the way, there are more than one foundation in existence. The Bitcoin Foundation is only the most prominent one.

More than one bitcoin foundation?

could you elaborate on why bitcoin core would be any different without a foundation?


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albert11
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February 20, 2015, 10:08:56 PM
 #8

The problem with a bitcoin foundation is that it creates a central point for decision and corruption.
Government will start to legitimize this foundation, as time goes by they will grant them them more and more power backed by actual law.
When the foundation will be the legitimate central point for decision then they will corrupt the director of the foundation and people voting within the foundation, they will pay these guys millions to modify the code as they please.


I really have no idea how we could get rid of it, but trust me this is a real threat and the members of the foundation might not even realize this yet.

I think the community needs to create multiple foundation to make the current system irrelevant or sign a petition to get rid of it ( though i doubt much will happen but at least it could be a test to see if they act in the community's interest or not)

You are a little late. The BF has been around for more than 2 years. Anyway, it doesn't have any power over anyone. It doesn't represent anyone but its members. It is a private organization.

Private like the federal reserve...

It doesn't have any power YET but that's where the government will mess with if bitcoin ever became mass adopted, they will not let their power vanish over a couple line of code believe me and the scenario might even be written on paper already


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February 20, 2015, 10:12:47 PM
 #9

They technically have Gavin and the like under their thumb because he's being paid a salary by them, thankfully though Satoshi was clever enough to release the source code so we'll have many, many alternatives to choose from.
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February 20, 2015, 11:49:43 PM
 #10

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?
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February 21, 2015, 12:01:16 AM
 #11

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?

You are very wrong. Nobody is required use the software produced by the BF (Bitcoin Core and bitcoind). There are several alternatives.

That is why the Bitcoin Foundation has no real power, only the power of persuasion.

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February 21, 2015, 12:14:16 AM
 #12

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?

You are very wrong. Nobody is required use the software produced by the BF (Bitcoin Core and bitcoind). There are several alternatives.

That is why the Bitcoin Foundation has no real power, only the power of persuasion.


This isn't what I'm talking of. I haven't used Bitcoin Core software for over 18 months. There are other issues.
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February 21, 2015, 12:17:17 AM
 #13

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?

You are very wrong. Nobody is required use the software produced by the BF (Bitcoin Core and bitcoind). There are several alternatives.

That is why the Bitcoin Foundation has no real power, only the power of persuasion.


This isn't what I'm talking about. I haven't used Bitcoin Core software for over 18 months. There are other issues.
albert11
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February 21, 2015, 12:35:07 AM
 #14

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?

These decisions should be made by the people for the people, bitcoin is decentralized technology and everything around it should be too.

A central institution should not decide about bitcoin's future(especially when they restrict vote for only members,ask for money to be able to vote and offer no transparency about the votes), we are seeing the discrimination happening already and this is just the beginning.

The more centralization of the ecosystem, the more easy it will be to corrupt every single entity and have the majority use the fed blockchain.


If there were no foundation the people would do it, we just need to organize.We could take decision by doing a simple referendum for every proposal. People would vote using the blockchain and would need to be verified somehow for being a btc users.I'm not sure exactly how this could work out but i'm sure there is way to make this work, the logic is that every bitcoin user could vote, that's how it works in every country right , every citizen can vote, not only the members of the senat can


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February 21, 2015, 01:09:57 AM
 #15

Whether the BTC foundation is a good or bad idea isn't relevant because it's needed.

There is a need for a central institution to regularly update and upgrade the code. There are decisions that must be made about the future, like how to accept a growing number of transactions. Who could do that if there were no foundation?

I'd like to point out that every single innovation has come from outside the Foundation.  It's a fun little concept, but imagine the few types of personalities that would actually take that concept and implement it.   It's a self-serving organization under the guise of an ideal.  

The Federal Reserve as a mechanism for responsible inflation when necessary is a pretty neat concept, too, unless you have greedy dickheads running or affiliated with the mint.

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February 21, 2015, 02:02:32 AM
 #16

We can like it or not, but we need Bitcoin foundation.
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February 21, 2015, 02:10:01 AM
 #17

No the community as a whole still has the final say on whether to adopt the change. Eventually it is still the majority who wins.

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February 21, 2015, 03:24:01 AM
 #18

Agreed. It's run by weirdos...
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February 21, 2015, 09:43:35 AM
 #19

We can like it or not, but we need Bitcoin foundation.

Then why are they so unimportant?

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February 21, 2015, 11:49:37 AM
 #20

The problem with a bitcoin foundation is that it creates a central point for decision and corruption.
Government will start to legitimize this foundation, as time goes by they will grant  them more and more power backed by actual law.
When the foundation will be the legitimate central point for decision then they will corrupt the director of the foundation and people voting within the foundation, they will pay these guys millions to modify the code as they please.

This is a real threat and the members of the foundation might not even realize this yet while others knows and will take advantage of it

I think the community needs to create multiple foundation to make the current system irrelevant or sign a petition  ( though i doubt much will happen but at least it could be a test to see if they act in the community's interest or not)

Anyone could create a foundation and there's nothing we can do to stop those people. They're not official and I'm sure they will become corrupt or try sway things to their individual business interests but that's whay we just have to reject the notion of them being some sort of official body.
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