Serious Discussion About The Bitcoin Foundation

By January 28, 2014Bitcoin Business
Click here to view original web page at coinbits.com

Serious Discussion About The Bitcoin Foundation


Posted by on Jan 28, 2014 in News Bits | 0 comments

The Bitcoin Foundation's integrity is now in serious question.

3 out of 7 board members are either involved in lawsuits, awaiting trials or engaged in dubious business.

Peter Vessenes Chairman Mtgox lawsuit Alydian Collapse Bitcoinica Debacle Coinlab lawsuit

Mark Karpeles Board Member Operating an underfunded exchange while holding peoples funds hostage. Empty promises and lies as distractions(litecoin, advanced “trading engines”, banking issues) US government investigation.

Charlie Shrem Vice Chairman Under indictment for financial crimes while ironically calling for and encouraging government regulation. Using his position as Vice Chairman to enhance his own credibility.

These individuals have used their positions on the foundation to appear more trustworthy and legitimate then they really are. Does anyone think for example Peter would receive the funding he has, had he NOT been Chairman? What about Shrem's world wide travels as a “bitcoin evangelist”.

Talk about resume padding.

The question is this. Is the foundation misleading and misinforming people by claiming to be benefiting bitcoin users? Are members given false credibility and reputations due to their positions. How much damage has this already caused to real people and business'

“Bitcoin Foundation standardizes, protects and promotes the use of Bitcoin cryptographic money for the benefit of users worldwide.”

Gavin receives a salary from the foundation. Should core developers be involved in an organization where almost a majority of top spots are occupied by dishonest individuals?

These are serious questions that demand answers from a group that is operating in the public domain as a so called none profit. What type of effect does this have on future bitcoin development, credibility and reputation?

If the Bitcoin Foundation cannot address the massive ethical and moral problems with it's members, IT SHOULD STOP PRETENDING TO BE ACTING IN THE COMMON GOOD OF THE CRYPTO CURRENCY COMMUNITY

This includes changing either it's name or mission statement.

The Foundation needs to hold a meeting before more damage is done, and reputations of good people are dragged down with the bad.

Comments to express outrage or disagreement are welcome.

Originally posted here:
http://www.reddit.com/r/Bitcoin/comments/1wc9ea/serious_discussion_about_the_bitcoin_foundation/


Leave a Reply

All Today's Crypto News In One Place