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Unhappy With Current Direction, Some Bitcoin Foundation Members Resigning

Avatar newsbtc 6 years ago

A number of Bitcoin Foundation members, unhappy with the current direction of the Foundation, have started to resign.

That’s according to this forum forum post on the Bitcoin Foundation board, in which annual member Patrick Alexander starts the thread with a resignation announcement:

“Unfortunately I must resign as an individual member of the Bitcoin Foundation,” Alexander writes in his post.

He points to Charlie Shrem (former BitInstant CEO and accused money launderer), Mark Karpeles (former Mt. Gox CEO), and Brock Pierce (newly-elected board member who has dealt with legal issues of his own) as reasons why the Foundation is headed the wrong way.

“This is not the direction this foundation needs to take. The foundation members need to emulate very high moral values and ethics in business and in personal dealings, especially as it involves money. So far, the track record of prominent Bitcoin Foundation members has been abysmal. I know that most foundation members are probably swell people and are not like this. However, the acts of a few, have overshadowed us all unfortunately,” he writes.

“I no longer want to be associated with these people… It is my wish that as the Bitcoin Foundation lay in ashes, another organization can rise up from these ashes and take its proper place representing the great idea that is bitcoin.”

Alexander’s post has seemingly started a minor domino effect, with a number of other users saying they wish to throw in the towel.

“I am also resigning as a lifetime member,” wrote Olivier Janssens. “If the bitcoin foundation is to be taken seriously, they need to immediately remove Brock Pierce from the board and save face. Brad, there are plenty more allegations than what you brought up. There are active lawsuits on corporate fraud and child porn. This is NOT the type of associations you want to have for Bitcoin, especially not with the [mainstream media] trying to pull every stunt in the book.”

Says Pierre Rochard, another annual member:

“I’ve always been quick to defend the Bitcoin Foundation, but this is too much. Effective immediately I would like to terminate my annual membership with the Bitcoin Foundation. Please remove my name from the Bitcoin Foundation website.”

By no means is this a large-scale movement, but it’s an interesting scenario. The thread has managed to become a popular link this weekend on the bitcoin page at

The Bitcoin Foundation is no stranger to community backlash. Recently, the blogger behind the Two-Bit Idiot website threatened to expose corruption at the Foundation.

He did not follow through.

What do you think of the situation? Is it a big deal about nothing or do you think these people have valid concerns?

[textmarker color=”C24000″]Source[/textmarker] Bitcoin Foundation Forums

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