Topic: Bitcoin foundation and Gox - page 2. (Read 2001 times)
One big advantage of a foundation could be the control of the users funds. Every trustworthy exchange has to preserve the users funds untouched. It's rather easy, but they did nothing. So we do not need them, they mislead the customers, thinking this gold or platinum foundation member can be trusted.
I expected better from the Foundation. This was a major crisis and the Foundation did nothing, said nothing, reported nothing. Even now the website is blank, just a few boring blog entries.
They know their responsibility, therefore they reported nothing.I think the final crash of Mt.Gox is good for the Bitcoin world, because it lessens the power of the centralised Bitcoin Foundation.
I expected better from the Foundation. This was a major crisis and the Foundation did nothing, said nothing, reported nothing. Even now the website is blank, just a few boring blog entries.
I wonder what its purpose is. It claims:
"Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide."
However it appears to be cowardly and not interested in "the benefit of users worldwide". Understandably it could not throw accusations around without evidence. But completely ignoring what we all knew was a crisis for bitcoin, or at least a crisis for many bitcoin users (or former users as the case may be) is a dereliction of duty in my opinion.
I see no point to its existence, and wonder why it exists, or why anyone would join now.
Looking at the membership fees, I see Platinum and Gold membership, which of course will be taken by industry, costs $100k and $25k.
Average Joe pays $25.
My point is that it seems more interested in protecting itself and its higher members than individuals that use the "currency".
To demonstrate its attitude, or at least the attitude of the legal team, I would post this from a few days ago from Todd Erickson of Foundation's Regulatory Affairs Committee.
To me it demonstrates that although we should police BTC ourselves and regulation would ruin the "essence" of the system, the Foundation is no use to users, and actually quite obnoxious.
I wonder what its purpose is. It claims:
"Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide."
However it appears to be cowardly and not interested in "the benefit of users worldwide". Understandably it could not throw accusations around without evidence. But completely ignoring what we all knew was a crisis for bitcoin, or at least a crisis for many bitcoin users (or former users as the case may be) is a dereliction of duty in my opinion.
I see no point to its existence, and wonder why it exists, or why anyone would join now.
Looking at the membership fees, I see Platinum and Gold membership, which of course will be taken by industry, costs $100k and $25k.
Average Joe pays $25.
My point is that it seems more interested in protecting itself and its higher members than individuals that use the "currency".
To demonstrate its attitude, or at least the attitude of the legal team, I would post this from a few days ago from Todd Erickson of Foundation's Regulatory Affairs Committee.
To me it demonstrates that although we should police BTC ourselves and regulation would ruin the "essence" of the system, the Foundation is no use to users, and actually quite obnoxious.
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