Bitcoin Foundation Releases 2016 Plans, Could Be Shut Down

Amid controversy, the Bitcoin Foundation recently released its goals for 2016.

Is this really the end of the Bitcoin Foundation?

Many of Bitcoin’s early advocates have distanced themselves from the Bitcoin Foundation.

“ It’s going to take a lot of work to restore the foundation’s image and credibility in the industry, ” Trace Mayer said in a recent interview. “The problem is that people outside the industry still look at the Bitcoin Foundation and trust it.” Mayer considered the idea of ​​revamping the foundation, but suggested “closing it down.” He did have one concern, though:

“I don’t want to see foundations co-opting people, ” he said.

Furthermore, given the blatant disregard for law and order shown by Charlie Shrem and Mark Karpeles on the foundation's board, law enforcement agencies may question the organization's viability.

According to the Bitcoin Foundation, its plan for 2016 is to continue to advance the development of Bitcoin and related technologies through global outreach and education, focusing on three areas:

1) Cultivate Core Development Project

2) Further education & adoption

3) Work to limit unfavorable provisions and encourage technical rather than administrative solutions

In recent years, the Core Development project has gradually spread, and it has accelerated in 2015. In the past, the development funds were paid by the Bitcoin Foundation, but these things are not just what the Bitcoin Foundation needs to do. Obviously, blockchain can be used to do these things...

In its relatively short history, Scaling Bitcoin has done as much for the Core Development project as it has for the Bitcoin Foundation. The primary vehicle Bitcoin uses for this is the DevCore conferences in London, Boston, and San Jose. Since the foundation was founded in 2012, the conferences have averaged once a year.

Another goal the foundation has outlined for 2016 is to “ advance the field by exploring ways to better bridge the gap between development, the public, and companies. ”

Despite this, there are no reports that the Bitcoin Foundation invested any meaningful funds into the Bitcoin Information Portal. In fact, when the Foundation hired theAudience , which has nothing to do with Bitcoin , to handle the payments, it essentially snubbed the entire industry. Clearly, a bitcoiner could have done what theAudience did and offered a more cost-effective price.

The Bitcoin Foundation also plans to limit governance. "We believe that solutions that focus on technology rather than governance will be most effective, such as by encouraging the use of joint keys, robust audit standards, proof of reserves, and other technology-based activities, " the foundation said in a statement.

The foundation hopes to educate legislators and focuses primarily on elected officials or "top officials." In addition, the foundation strives to provide basic, non-government advice and solutions.

However, since the foundation has wasted millions of dollars on Bitcoin, why should they be given any legitimacy? Of course, we will soon find out whether we can reach a consensus on this topic.