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Tired of bad press, Bitcoin advocates have launched a new foundation aimed at both promoting the electronic currency and funding infrastructure to maintain its momentum.
The Bitcoin Foundation is the brainchild of Gavin Andresen, who says he modeled it after the Linux Foundation, the non-profit organization that "promotes, protects, and advances" the open source OS.
Bitcoin-mining botnets are big business for fraudsters. Stories of hacks and heists have dogged the digital currency since its inception, too. And while El Reg can speak to neither ignorance nor inaccurate reporting, it's true that Bitcoin has garnered a rather tarnished reputation.
Inthe US Senate called for an investigation into bitcoin foundation membership drivers online currency over alleged links to money laundering, tax evasion, and other criminal activity. Even the libertarian-leaning Electronic Freedom Foundation has distanced itself from it.
But although Bitcoin Foundation chair Peter Vessenes agrees that there are schemers and criminals who try to exploit the Bitcoin community and that there remain legal issues to be addressed in various jurisdictions, he feels the legal climate around the currency has been entirely misrepresented. To address this problem, the Bitcoin Foundation has planned a number of activities aimed at promoting Bitcoin and raising the perception of its legitimacy in the mainstream media.
These include organizing a Bitcoin conference, creating an opt-in certification process for Bitcoin businesses, and publishing a set of best practices for companies who wish to trade in the currency. In addition, one of the Foundation's immediate goals is to raise money to provide a salary and some budget for Andresen, who so bitcoin foundation membership drivers has been working as the lead developer of the core Bitcoin software without any compensation.
To that end, the Foundation is offering memberships at various levels. Gox has already signed on. Individuals can join for 2. The Register - Independent news and views for the tech community. Part of Situation Publishing. Join our daily or weekly bitcoin foundation membership drivers, subscribe to a specific section or set News alerts.
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