Bitcoin Foundation........trouble at t' mill

This article gives some food for thought and raises some important issues.

Possibly the most salient point:

”The lesson for all of us in bitcoin is to never put any trust in a centralized organization again that wanted to represent bitcoin or the core development of bitcoin.”


The Bitcoin foundation was a bad idea from the start. It is the same old flawed thinking of the past. Some people just love power and bureaucracy, but it is up to everyone else to resist them.


I dont believe TBF ever set out to be what it is today. Bitcoin needed and continues to need people, in an organized and responsible fashion, to deal with the bureaucracies around the planet. Much has been accomplished in bitcoinland the very short time it’s been around. A good portion of this was accomplished by TBF. No doubt it needs work but no one has proffered a viable substitute. Unfortunately the decentralized blockchain does not have the AI yet to lead bitcoin to the next level. Bitcoin Devcore is looked after now with Lighthouse and the megabucks of Olivier Jannsens. But who will handle the rest?

Your thoughts?

i don’t think you know what the bitcoin foundation has done?

They are not actually the ones who have accomplished the most.

TBF has been running on empty for the last year.

One of their founding members is in jail

One of their founding members ran an exchange that did more damage to bitcoin than any single other thing from the careless and stupidly handled situations , some of them from TBF

all this in just 3 small years

The people around the world that are building features , hiring staff, accepting bitcoin, using the blockchain to update outdated tech and financial markets . This hasn’t been from some massively centralized foundation that has proven themselves useless these last 3 years being broke for the last 1 year .

no its the decentralized effect , people from all over the world, disconnected from each other but not connected thru the blockchain that have given more value, features and use to bitcoin that have done the majority of the work (arguably a little centralized in effect of funding of projects by certain richy rich individuals) but still remains the fact, that someone funding what they believe true , and some foundation looking over everyone and everything is still a more positive effect

You dont know what I know.

Fully aware of the missteps and improprieties but that does not negate necessity for structure. Bitcoin is big business and that requires some strategy.

But you’re saying that an organized effort and unified voice is not necessary and the core devs and anybody and their brother can deal with the realities of business, govt , politics and the like independent of each other?

That dog wont hunt my friend.

no i am saying it is possible for structure in a decentralized manner, not in a massive centralized manner that has caused more damage than good

You need to stop putting words in my mouth , i didn’t mention anything about no need for organized effort and unified voice, infact i actually stated that the largest organized effort was being done not by the centralized foundation but in a more decentralized manner.

The method they have done it , is massively flawed, everything you claim i was saying wasn’t needed, i wasn’t sying that , please re read, and see that the stuff you said can and has been done can be done in a more decentralized way

Lets agree to disagree on the way things should unfold.

We can revisit this discussion in a year and see how things have gone.

Meanwhile, good luck to you in everything MaidSafe and Bitcoin.

Unified voice? They don’t speak for me , nor anyone else who hasn’t explicitly said otherwise.

It strikes me as a power grab, where individuals get to exploit it for their own gains.

There is no body which speaks for Bitcoin. It is just an open source technology, which anyone can fork and develop. Trying to create a centralized bureaucracy which can claim ownership of this is, at best, folly; at worst, it is dangerous.

Completely understand your sentiment.

It is near impossible to efficiently and effectively deal with the opposing forces of government, trade groups, mainstream media and the like without some sort of collaboration. It is obvious the BF has evolved/devolved into a menace and needs restructure and focus.