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Topic: Should Peter Vessenes resign as the Executive Director for Bitcoin Foundation ? - page 12. (Read 24387 times)

sr. member
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well, i'm looking at this from merchant point of view. I need stable rate so I dont have to worry about selling coins every hour.  

Use Bitpay when it's unstable. They exist to minimize exposure to volatility. It's part of their business plan, as I understand it.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas



We’d be happy to be regulated,” said Vessenes


I hate regulations but I believe bitcoin would be more stable if somebody could regulate it

What do you mean by more stable, and how would it be regulated. Do you mean that for example the US Govt should start the printing press, and inject dollars in the exchanges, and run bots to keep the exchange rate stable ?

Don't you think the exchange rate will become stable when the market cap grows and become bigger ?

well, i'm looking at this from merchant point of view. I need stable rate so I dont have to worry about selling coins every hour. As long as soft  regulates coins it will always be what it is today. It will never go mainstream  the way it is now. I'm not sure how it needs to be regulated but I think it needs human input just like US gov does to market

Bitpay allows people to pay with bitcoins and you can either keep it in bitcoins or get the dollar rate at that time. Why would you have to worry about the rate?
member
Activity: 158
Merit: 10



We’d be happy to be regulated,” said Vessenes


I hate regulations but I believe bitcoin would be more stable if somebody could regulate it

What do you mean by more stable, and how would it be regulated. Do you mean that for example the US Govt should start the printing press, and inject dollars in the exchanges, and run bots to keep the exchange rate stable ?

Don't you think the exchange rate will become stable when the market cap grows and become bigger ?

well, i'm looking at this from merchant point of view. I need stable rate so I dont have to worry about selling coins every hour. As long as soft  regulates coins it will always be what it is today. It will never go mainstream  the way it is now. I'm not sure how it needs to be regulated but I think it needs human input just like US gov does to market
sr. member
Activity: 476
Merit: 250
Don't you think the exchange rate will become stable when the market cap grows and become bigger ?

Bitcoin barely has its wings yet and its so-called proponents are already calling for regulation. I never trust a man that brown noses the government in order to further his own interests in a new technology.


I think there's plenty of members in the community that could contribute equally or better that doesn't have millions of dollars on their bank accounts.

I'd like to see more coders and fewer business interests on the board.
hero member
Activity: 868
Merit: 1000



We’d be happy to be regulated,” said Vessenes


I hate regulations but I believe bitcoin would be more stable if somebody could regulate it

What do you mean by more stable, and how would it be regulated. Do you mean that for example the US Govt should start the printing press, and inject dollars in the exchanges, and run bots to keep the exchange rate stable ?

Don't you think the exchange rate will become stable when the market cap grows and become bigger ?
member
Activity: 158
Merit: 10



We’d be happy to be regulated,” said Vessenes


I hate regulations but I believe bitcoin would be more stable if somebody could regulate it
hero member
Activity: 868
Merit: 1000
If you look at the FSF, Richard Stallman is super dedicated to his cause, to the extent that he for a while slept under his desk when not programming  or doing work for the FSF. He travels all over the world and talks about Free Software. He's not a business person, but he sure has made a name for himself and most geeks now about the FSF, and appreciate what they do. Stallmann is genuine and believes in what he does.

Yeah well bitcoin's Stallman decided he wasn't up to the task, so again I ask, who do you think is going to do this? You can't just will a Richard Stallman to exist to help bitcoin.

Who ? I'm not sure, perhaps there would be some people interested if the position was made available. A Bitcoin-Stallman would not be bad.  Grin

I am not sure if having the foundation run by the biggest bitcoin business men is the best idea. Perhaps the Foundation should be more independent ?
sr. member
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Merit: 250
“People who understand markets need to get involved.”

How's that working out, Peter? Your flagship has sprung a leak.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
Someone else gave an interview a few years ago (Gavin maybe) who said that any regulation should be at the exchange level.

They regulate everything that has to do with their dollars anyway, this is not a huge leap.
hero member
Activity: 798
Merit: 1000
If you look at the FSF, Richard Stallman is super dedicated to his cause, to the extent that he for a while slept under his desk when not programming  or doing work for the FSF. He travels all over the world and talks about Free Software. He's not a business person, but he sure has made a name for himself and most geeks now about the FSF, and appreciate what they do. Stallmann is genuine and believes in what he does.

Yeah well bitcoin's Stallman decided he wasn't up to the task, so again I ask, who do you think is going to do this? You can't just will a Richard Stallman to exist to help bitcoin.
hero member
Activity: 868
Merit: 1000
Perhaps when he says "we", he means CoinLab. CoinLab might want regulators to come in because regulations give established companies an economic advantage. Too-bit-to-fail is the epitome of regulation.

From the NY article:
Quote
Still, the volatility in the price of bitcoins — rising from about $45 just a month ago to more than $250 this week and back down to around $100 yesterday — has some people questioning if no rules are good rules.

One venture capitalist, who was investing in bitcoin-based startups, said there need to be some rules and order before the currency can take off.

“Right now you have a bunch of anarchistic market dilettantes who don’t understand how markets work and don’t understand the perils of markets,” he said. “People who understand markets need to get involved.”

So, I take it the problem is the volatile market rate. As bitcoin grows, it will become more stable, it's currently growing pains. What exactly would people 'who understands markets' do in regards to the bitcoin market?
legendary
Activity: 4466
Merit: 3391
Perhaps when he says "we", he means CoinLab. CoinLab might want regulators to come in because regulations give established companies an economic advantage. Too-big-to-fail is the epitome of regulation.
newbie
Activity: 14
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Quote
People who understand markets need to get involved.
NO. PLEASE! HELL! NO! Those guys who fu**ed up the regular markets and never come up with innovations and improvements for citizen should stay home.
hero member
Activity: 868
Merit: 1000
Yes, if there's an man that's supposed to have the leading role of two enterprises, one or both of these roles can not be fulfilled completely. In my view, if you're the chief of a company, then holding the lead role in a foundation means you can't do a great job at both of them. That is a big problem.

The bitcoin universe is still pretty dang small bro, you should be happy that there are people who are willing to spend time and effort to help you make money. If all the business guys resign from the foundation, who will step up to spearhead such things? Programmers? I don't think so.

If you look at the FSF, Richard Stallman is super dedicated to his cause, to the extent that he for a while slept under his desk when not programming  or doing work for the FSF. He travels all over the world and talks about Free Software. He's not a business person, but he sure has made a name for himself and most geeks now about the FSF, and appreciate what they do. Stallmann is genuine and believes in what he does.

The same kind of person we would need for the Bitcoin Foundation, not a person that's only interested in business. Bitcoin is still small, but not smaller than that any bitcoin business of a certain size can warrant having at least one person working full time at that project. To my understand, for example blockchain.info has one person working full time on it. In a foundation, I'm sure an Executive Director would have his hands full every day if he so choose. Having a demanding full time job outside the Foundation means he is not able to do a great job for the Foundation.
sr. member
Activity: 476
Merit: 250
The bitcoin universe is still pretty dang small bro, you should be happy that there are people who are willing to spend time and effort to help you make money. If all the business guys resign from the foundation, who will step up to spearhead such things? Programmers? I don't think so.

Gox and Bitinstant are alienating many new users. They shouldn't be associated with the foundation.
hero member
Activity: 798
Merit: 1000
Yes, if there's an man that's supposed to have the leading role of two enterprises, one or both of these roles can not be fulfilled completely. In my view, if you're the chief of a company, then holding the lead role in a foundation means you can't do a great job at both of them. That is a big problem.

The bitcoin universe is still pretty dang small bro, you should be happy that there are people who are willing to spend time and effort to help you make money. If all the business guys resign from the foundation, who will step up to spearhead such things? Programmers? I don't think so.
hero member
Activity: 868
Merit: 1000
I'm of the opinion that no business interests should be on the foundation's board, especially the guys that run gox and bitinstant.

I'm a lifetime member and I won't have anything to do with the foundation until and unless Karpeles, Shrem and Vessenes are gone.

 I agree with this. Also, the steep fees needed to 'buy in' to the foundation means it's a rich business men club only. I think there's plenty of members in the community that could contribute equally or better that doesn't have millions of dollars on their bank accounts.
hero member
Activity: 868
Merit: 1000
I disagree with the claim it's the worst thing he ever said, or that this is even bad.  It sounds like he is doing his job.  Those who find fault with him making a statement like that have a limited view of the way business and politics works.

It's the overall impression, I don't trust that guy to want the best for bitcoin. I might be wrong, but that's the impression I've gotten. Look at his history, he's been at max 2 years with every company he's been running. The exchange rate has much volatility, I don't see how one should call for regulations because of that.
hero member
Activity: 868
Merit: 1000
I interpreted this was that they would actually want to regulate how trade is done on the exchanges, which I don't think is a good idea.

This is pretty vague. Is there something in particular you have a problem with?

Yes, if there's an man that's supposed to have the leading role of two enterprises, one or both of these roles can not be fulfilled completely. In my view, if you're the chief of a company, then holding the lead role in a foundation means you can't do a great job at both of them. That is a big problem.
sr. member
Activity: 476
Merit: 250
I'm of the opinion that no business interests should be on the foundation's board, especially the guys that run gox and bitinstant.

I'm a lifetime member and I won't have anything to do with the foundation until and unless Karpeles, Shrem and Vessenes are gone.
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