Brock Pierce: Bitcoin Foundation 'Close To Running Out of Money'

[BIGbtc]

http://www.coindesk.com/bitcoin-foundat ... -of-funds/

[BitcoinXio]

http://www.coindesk.com/bitcoin-foundat ... -of-funds/

At one point when I first started in bitcoin, I had high hopes for the foundation. However, it seems through infighting, wasting funds, and not having a clear focus often times pivoting and causing unnecessary drama in the community, they have fallen to the point now where they are irrelevant and not doing anything to contribute to the community. Core devs have moved on (to MIT and Blockstream, or self funded) and many members of the foundation have left to other places as well. I think it's time the foundation shutters. Those that are passionate can join other "foundation" type of orgs within the community that are coming up, but without the premise of being the official foundation of Bitcoin, as there isn't one. The same fallacy holds true to bitcoin.org, which is not the official website of Bitcoin, although the domain owners there will do their best to make you believe so.

[BIGbtc]

http://www.coindesk.com/bitcoin-foundat ... -of-funds/

At one point when I first started in bitcoin, I had high hopes for the foundation. However, it seems through infighting, wasting funds, and not having a clear focus often times pivoting and causing unnecessary drama in the community, they have fallen to the point now where they are irrelevant and not doing anything to contribute to the community. Core devs have moved on (to MIT and Blockstream, or self funded) and many members of the foundation have left to other places as well. I think it's time the foundation shutters. Those that are passionate can join other "foundation" type of orgs within the community that are coming up, but without the premise of being the official foundation of Bitcoin, as there isn't one. The same fallacy holds true to bitcoin.org, which is not the official website of Bitcoin, although the domain owners there will do their best to make you believe so.

You make some really great points and I agree wholly that the BF is currently irrelevant and has failed in its ability to stay focused. But I disagree that it should be shuttered.

There is a solid infrastructure that can be leveraged by the right people with the right tools.

I posted on reddit and dont think its right to cross post or paste so here is my summary

1. Change the membership model - no lifetime memberships- (recipe for disaster)
2. Increase individual membership fees to 100/yr
3. Grandfather current lifetime members but make them pay an annual maintenance fee
4. Give something to all members- Industry, individuals, merchant annually - like a Tshirt printed by a bitcoin company and designed by an artist who accepts bitcoin.
5. Make new series of Tshirts every year and make it a theme and create some buzz through media
6. Focus BIG on merchants - give them FREE MEMBERSHIP and give them LOTS of unique support and free stuff from the BitPays, Coinbases,
7. Incentivize vendors of merchant members to accept bitcoin.

It will take some work to revitalize the BF but it would not be impossible.

[BitcoinXio]

At one point when I first started in bitcoin, I had high hopes for the foundation. However, it seems through infighting, wasting funds, and not having a clear focus often times pivoting and causing unnecessary drama in the community, they have fallen to the point now where they are irrelevant and not doing anything to contribute to the community. Core devs have moved on (to MIT and Blockstream, or self funded) and many members of the foundation have left to other places as well. I think it's time the foundation shutters. Those that are passionate can join other "foundation" type of orgs within the community that are coming up, but without the premise of being the official foundation of Bitcoin, as there isn't one. The same fallacy holds true to bitcoin.org, which is not the official website of Bitcoin, although the domain owners there will do their best to make you believe so.

You make some really great points and I agree wholly that the BF is currently irrelevant and has failed in its ability to stay focused. But I disagree that it should be shuttered.

There is a solid infrastructure that can be leveraged by the right people with the right tools.

I posted on reddit and dont think its right to cross post or paste so here is my summary

1. Change the membership model - no lifetime memberships- (recipe for disaster)
2. Increase individual membership fees to 100/yr
3. Grandfather current lifetime members but make them pay an annual maintenance fee
4. Give something to all members- Industry, individuals, merchant annually - like a Tshirt printed by a bitcoin company and designed by an artist who accepts bitcoin.
5. Make new series of Tshirts every year and make it a theme and create some buzz through media
6. Focus BIG on merchants - give them FREE MEMBERSHIP and give them LOTS of unique support and free stuff from the BitPays, Coinbases,
7. Incentivize vendors of merchant members to accept bitcoin.

It will take some work to revitalize the BF but it would not be impossible.

Although I agree that they have the infrastructure and base to pivot again, in my opinion the foundation brand is so tainted now that I don't see any good coming from it. They would be better off shuttering and restarting under a completely new name and brand, recruit some new names/faces, and start over as a new org.

[BIGbtc]

You make some really great points and I agree wholly that the BF is currently irrelevant and has failed in its ability to stay focused. But I disagree that it should be shuttered.

There is a solid infrastructure that can be leveraged by the right people with the right tools.

I posted on reddit and dont think its right to cross post or paste so here is my summary

1. Change the membership model - no lifetime memberships- (recipe for disaster)
2. Increase individual membership fees to 100/yr
3. Grandfather current lifetime members but make them pay an annual maintenance fee
4. Give something to all members- Industry, individuals, merchant annually - like a Tshirt printed by a bitcoin company and designed by an artist who accepts bitcoin.
5. Make new series of Tshirts every year and make it a theme and create some buzz through media
6. Focus BIG on merchants - give them FREE MEMBERSHIP and give them LOTS of unique support and free stuff from the BitPays, Coinbases,
7. Incentivize vendors of merchant members to accept bitcoin.

It will take some work to revitalize the BF but it would not be impossible.

Although I agree that they have the infrastructure and base to pivot again, in my opinion the foundation brand is so tainted now that I don't see any good coming from it. They would be better off shuttering and restarting under a completely new name and brand, recruit some new names/faces, and start over as a new org.

Tainted is a perfect way to describe the BF reputation. But tainted for whom? Im in the integration business. Nobody I meet in my day-to-day business travels has ever heard of the BF or Roger Ver or Brock Pierce or reddit. None of these people I meet can be influenced by any of aforementioned. The previous audience for bitcoin has been so narrow and defined by 14 yr olds, libertarians and goofballs in monkey outfits. There is a new audience, brought about by the legitimizing and sanitizing and regulatizing (ya just made that word up, you can use it ) of bitcoin via the governments, big business and BLOCKCHAIN hype. Its a new, new world for bitcoin. Wall Street can say it, bankers can say it, government officials can say it...they can all say BITCOIN now without fear of being labelled a criminal.

BF is tainted in the eyes of people that have no cash value and will never support any org around bitcoin,