Topic: Why Bitcoin foundation was formed? (Read 287 times)
I was informed about Bitcoin Foundation on 2014 I think when Bangladesh became the first member from Asian region although later on, Govt put ban on bitcoin. The purpose was to promote bitcoin as far as I was concerned. Couple of days ago, when I searched for bitcoin foundation, found that Roger was involved with it too which make me puzzled how he became a fan of BCH now.
I think this was a group of some members to started a project with bitcoin. Everyone had worked hard to influence of create a currency to improve by trading, mining & other technical points.
The problem is, even if such a project is started with the best intentions, they tend to be a breeding ground for corruption. Once money starts flowing in, the temptation will always arise for people to start using it for their own benefit, rather than the benefit of their stated cause.
Without the aid of a time machine, it's difficult to judge how Bitcoin's ecosystem would have evolved without the Foundation existing. I like to believe it wouldn't have been vastly different to how things are today, though.
I think this was a group of some members to started a project with bitcoin. Everyone had worked hard to influence of create a currency to improve by trading, mining & other technical points.so now its a one of the topmost currency. Lot of people are trust & want to their investment. This currency is that who are everyone wonderful to hipe price become a popular in the market. I think so.
Aside from the direct reasons which are stated on Bitcoin's whitepaper, I don't think there's still another reason why Bitcoin was founded based on the creator himself. But as time passes by, users are those who are devising their own way on how they could use bitcoin. That means that even if the reason was not stated on the whitepaper, Bitcoin proves to be worthy for us to use and keep. With the decentralized and transparent code deployed by Satoshi, it is impossible to say that he has a secret plan for why he founded Bitcoin. And with the span of more than 10 years of non-existence, it was clear that he let the community decides what is best for Bitcoin.
From the Bitcoin Foundation's manifesto:
Quote
The Bitcoin Foundation coordinates the efforts of the members of the Bitcoin community, helping to create awareness of the benefits of Bitcoin, how to use it and its related technology requirements, for technologists, regulators, the media and everyone else globally.
There is no word about restoring the first crypto reputation. 
I'm reading in Wikipedia that Bitcoin foundation "was founded in September 2012 in order to try to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake." (source) and I'm wandering whether it's a correct information and what scandals we are speaking about that was necessary to mitigate at that time?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
Well for other then credibility it was to establish a reputation as being sort of like a source for legitimate projects.
If a project or a site was a member of the Bitcoin Foundation, they were to be considered more trustworthy.
I do not know if this was always 100 percent true but this is what they seeked out to achieve.
But after knowing the true motives of some of the Foundation's founding members, I believe it was their means to have influence, and have some control over its development. They would have supported Bitcoin Unlimited, if they were around during the scaling wars, never mind the technicalities and externalities.
I'm reading in Wikipedia that Bitcoin foundation "was founded in September 2012 in order to try to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake." (source) and I'm wandering whether it's a correct information and what scandals we are speaking about that was necessary to mitigate at that time?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
Well for other then credibility it was to establish a reputation as being sort of like a source for legitimate projects.
If a project or a site was a member of the Bitcoin Foundation, they were to be considered more trustworthy.
I do not know if this was always 100 percent true but this is what they seeked out to achieve.
Their forum (https://bitcoinfoundation.org/forum/) is still active to this day, so you might able to find additional information. But this is probably what you're looking for https://bitcoinfoundation.org/bitcoin-foundation-manifesto/
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
BUT, as written in Bitcoin-history, the people behind the foundation had their own self-interests, and agendas.
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
Mike Hearn was a member? Haha.
The founding members I have read many things about are, Roger Ver, Gavin Andresen, and Mark Karpeles. What a good-looking group.
Tin-foil hats on, they were grouped together by Craig Wright as part of his "Plan A", if it fails, "Plan B" is "be Satoshi" and fork Bitcoin to make a shitcoin.
My opinion about the foundation is rather negative.
A bunch of people who had a lot of money and influence in the community thought they can form a type of council that would speak with one voice to the media and the politicians. At the same time they allowed people in for a fee, voted on stuff and so on.
It was like a group of teenagers roleplaying as the senate. No wonder the foundation met its end. It had no real purpose.
A bunch of people who had a lot of money and influence in the community thought they can form a type of council that would speak with one voice to the media and the politicians. At the same time they allowed people in for a fee, voted on stuff and so on.
It was like a group of teenagers roleplaying as the senate. No wonder the foundation met its end. It had no real purpose.
Wow. I thought bitcointalk forum was the only of its kind. But looking at the bitcoinfoundation forum, there's no much activity (comparing to here on bitcointalk). Why then was the forum created instead of pairing with the bitcointalk forum?
There was many forums created after bitcointalk. The main goal was to moderate differently, I guess.
Their forum (https://bitcoinfoundation.org/forum/) is still active to this day, so you might able to find additional information. But this is probably what you're looking for https://bitcoinfoundation.org/bitcoin-foundation-manifesto/
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
BUT, as written in Bitcoin-history, the people behind the foundation had their own self-interests, and agendas.
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
Wow. I thought bitcointalk forum was the only of its kind. But looking at the bitcoinfoundation forum, there's no much activity (comparing to here on bitcointalk). Why then was the forum created instead of pairing with the bitcointalk forum?
Seems like you guys are pretty angry with BTCF. I wasn't updated about what was happening along all this years so I'm a kind of still living in 2012 and travelling with the time machine and seeing that something that was generally perceived as positive in my epoch has degenerated in something else in the future.
I always thought any kind of centralized organization is not good for bitcoin, but haven't ever expressed my thoughts publicly as it seemed to me that everybody was happy with BTCF managing Bitcoin.
So who is the boss now?
I always thought any kind of centralized organization is not good for bitcoin, but haven't ever expressed my thoughts publicly as it seemed to me that everybody was happy with BTCF managing Bitcoin.
So who is the boss now?
I'm reading in Wikipedia that Bitcoin foundation "was founded in September 2012 in order to try to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake." (source) and I'm wandering whether it's a correct information and what scandals we are speaking about that was necessary to mitigate at that time?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
I was trying to think which "several scandals" they might be referring to that took place back when the Foundation was first formed. Gox around the 2013/2014 era was the earliest major scandal I can recall (but then again I wasn't around in 2012). It then occurred to me that the line in question was probably added at a later date. As it happens, the original draft of that page is probably more telling of the true picture than the current revision.
The part about scandals wasn't added until July 2018, so I'm assuming it to be a slightly revisionist re-telling of the actual history of why it was founded.
They were definitely intended to be an advocacy group and may have had some successes in that regard, but they also took the piss with it and used the donations they received to travel business class, stay in swanky hotels and generally live the high life while doing whatever advocacy work they might have done. It could be argued they caused a fair number of scandals themselves and perhaps did as much harm as they did good in terms of reputations.
Their forum (https://bitcoinfoundation.org/forum/) is still active to this day, so you might able to find additional information. But this is probably what you're looking for https://bitcoinfoundation.org/bitcoin-foundation-manifesto/
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
BUT, as written in Bitcoin-history, the people behind the foundation had their own self-interests, and agendas.
It's even worse knowing some member introduce censorship (https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824)
It's interesting the problem they sought to solve via the foundation, as written here: https://bitcointalksearch.org/topic/mike-hearn-foundations-law-policy-chair-is-pushing-blacklists-right-now-333824
I have always wondered what the crypto foundations are for and whether they are open foundations & share thesame principles of Bitcoin/crypto. The Wikipedia article shared by Op says it "was America non-profit corporation". I wonder why this is so?
I think you could solve the problem listed in the Bitcointalk link above on Open, transparent, public, permissionless, censorship resistant community/platform. Every Bitcoin network members should be free to participate and blacklist/redlist tainted coins.
But is it true that Bitcoin Foundation does not exist anymore? (I've made this question here, but nobody answered so far).
It was years before me, but I believe it was formed to promote Bitcoin usage, market it to businesses, and form a roadmap towards mass adoption. BUT, as written in Bitcoin-history, the people behind the foundation had their own self-interests, and agendas.
As a result, it became unnecessary for the crypto sphere? I see this as some of the natural, wild power of bitcoin.
I advise you to read this page which describes a lot of problems coming from the foundation. From lack of transparency, no more elections, funds not correctly managed (perhaps out of money now), an accusation of entanglement in the MtGox insolvency, and so on.
It's too long to talk about everything, the page does it better, but the foundation is not relevant anymore concerning Bitcoin.
Roger Ver in (at least was), great asset for BTC
It's too long to talk about everything, the page does it better, but the foundation is not relevant anymore concerning Bitcoin.
Roger Ver in (at least was), great asset for BTC
It was years before me, but I believe it was formed to promote Bitcoin usage, market it to businesses, and form a roadmap towards mass adoption. BUT, as written in Bitcoin-history, the people behind the foundation had their own self-interests, and agendas.
I'm reading in Wikipedia that Bitcoin foundation "was founded in September 2012 in order to try to restore the reputation of Bitcoin after several scandals, and to try to promote its development and uptake." (source) and I'm wandering whether it's a correct information and what scandals we are speaking about that was necessary to mitigate at that time?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
If you have any additional information or opinion please tell me what was the reason the Bitcoin foundation was created?
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