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The Bitcoin Foundation Unveils 2016 Plan, Might Shut Down Instead

Source: bitcoin

The Bitcoin Foundation Unveils 2016 Plan, Might Shut Down Instead

The Bitcoin Foundation has recently divulged its goals for 2016 amid controversy surrounding the organization.

Also read: A Timeline of the Cryptsy Disappearance Mystery

Is the Bitcoin Foundation Coming to an End?

Many of bitcoins earliest spokespeople have separated themselves from the group.

“It’s gonna cost money [to rehabilitate its image] and its lost so much credibility within the industry,”Trace Mayer said in a recent interview. “The problem is outside the industry people still kind of look at it and give it credence.” Mayer considered the notion of rehabilitating the foundation, but suggests “just winding it up.”  He does have one concern:

“What I would not like to see is it co-opted,” he said.

Moreover, law enforcement might also have its doubts about the group’s viability considering both Charlie Shrem and Mark Karpeles – two people who displayed disregard for law and order – sat on the foundation’s board.  

According to the Bitcoin Foundation, it’s 2016 mission will remain to “help advance Bitcoin and related technology through education advocacy and outreach across the globe by focusing on three primary areas:

1) Fostering Core Development

2) Furthering education & adoption

3) Working to limit harmful regulations and encourage technical rather than regulatory solutions

Core Development has grown more diffuse in recent years, with that trend speeding up in 2015. The Bitcoin Foundation has covered development funds in the past, but that does not necessarily need to only be done by the Bitcoin Foundation. Apparently the Blockchain can be used for that…

The Scaling Bitcoin conference has done nearly as much for Core Development than has the Bitcoin Foundation in a shorter history. The main tool Bitcoin cites for this is the DevCore conference, which has taken place in London, Boston and San Jose. That’s an average of one per year in the foundation’s existence since 2012.

The foundation also cites as a goal for the 2016 the “fostering [of] development is in the areas of exploring better ways to bridge the gap of knowledge between development and the public and corporations.”

Despite this, there are no reports of Bitcoin Foundation investing difference-making amounts into the information portals in Bitcoin. In fact, the foundation basically snubbed the entire community when it hired theAudience to handle those obligations, which has no Bitcoin ties. What theAudience does can, obviously, be done by a bitcoiner and probably better for a more cost-effective price.

The Bitcoin Foundation also plans to limit regulations. “We believe that it is most effective to focus on technical solutions rather than regulatory solutions such as by encouraging usage of multi-sig keys, solid audit standards, exchange proof of reserves and other technical based activities,” the foundation’s statement reads.

The foundations wishes to educate lawmakers and focus on elected officials “or the most senior officials possible.” The foundations strives to offer the most non-regulatory suggestions and solutions.

However, since the foundation has basically wasted hundreds of millions of dollars in bitcoins, why give them any legitimacy? Well, we’ll see if there is consensus on this topic shortly:

Do you think the Bitcoin Foundation should be shut down? Let us know in the comments below!

The post The Bitcoin Foundation Unveils 2016 Plan, Might Shut Down Instead appeared first on Bitcoinist.net.

The Bitcoin Foundation Unveils 2016 Plan, Might Shut Down Instead

Led 08

2016 and Bitcoin: What Changes Will Come?

Source: bitcoin

Bitcoin 2016

If you’re a fan of Broadway or the world of the theater, you’ve likely seen the musical “Jekyll & Hyde.” Based on Robert Louis Stevenson’s chilling novella about a man who is a respectable doctor by day and a criminal by night, the musical premiered at the Plymouth Theater in New York in 1997. To this day, it stands as the Plymouth’s largest and longest-running production.

Also read: Potential Impact of CES 2016 on Bitcoin Adoption

In one of the early vocal pieces, Dr. Jekyll sings to the board of directors at the asylum that employs him. Attempting to get a new serum approved for experimentation (the same serum that transforms the doctor into his villainous alter ego), Dr. Jekyll says to the board members, “The only thing constant is change… The only thing constant is change.” The repetition of the phrase is likely there to express just how important the words are.

And it’s true. The only thing constant is change. The world is always changing, as are the people and the things in it, and this sentence holds quite true for bitcoin. Over the years, we’ve seen the digital currency begin as something that sparked fear in the eyes of financiers and traditional bankers, only to rise as something that has not only skyrocketed in popularity but is virtually accepted all over the world by restaurants, online retailers and businesses alike.

Naturally, things didn’t always start out that way. Bitcoin was at one point something that many were rejecting. Considering the hackings and cyber-attacks we’ve born witness to, along with the coin’s fluctuating value, it’s not terribly difficult to justify such an attitude. However, things are now swinging differently in the wind. After a disappointing and worrisome year, bitcoin’s price has jumped up into a solid $400 range, and despite a few bumps along the road, it’s managed to stay where it is. Recently, China’s stock market took a nasty plunge, and yet the bitcoin price is still holding its ground. This is particularly interesting and significant considering behavior and interest in China is what many feel sparked bitcoin’s price increase just a few months ago.

2015 is now over, and as we move into 2016 we have a lot to be thankful for, and there are many good things to acknowledge. With countries like Sweden aiming to become cashless and tear itself free from “fiat claws,” more doors are opening up for bitcoin and the altcoins it continues to help along the way. While some are upset about regulation in areas such as the U.S., it can be looked at in a positive light. After all, with regulation comes an acceptance of Bitcoin; in particular, the acceptance of bitcoin as “money” rather than a “commodity,” and money MUST be kept in check.

The year has just started, and we are well on our way to entering a fully digital world. Bitcoin helped to carve this road, and things can only move up from here on out. In putting financial power back into the hands of the people, we are more likely to witness a drop in the world’s monetary issues and experience an age like never before. On that note, let’s welcome 2016 and the potential change it can bring to each and every one of us with open arms.

What changes do you expect to see for bitcoin in 2016? Post your thoughts and comments below!


Images courtesy of hottytoddy.com & coinsetter.com

The post 2016 and Bitcoin: What Changes Will Come? appeared first on Bitcoinist.net.

2016 and Bitcoin: What Changes Will Come?