Jon Matonis Resigns As Bitcoin Foundation Executive Director

Mysterious disappearance of Tom Butterfield? (Bitcoin blogger)

Does anyone know what happened, or is happening, with Tom Butterfield? (He's the blogger who conducted the "sting" a few weeks ago on Bitcoin news websites to expose those that accept paid-for articles on bitcoin products and services)
Just a few days ago, he posted a link here to a new blog entry on wherein he claimed to have definitive proof that Jon Matonis and others in the Bitcoin Foundation are corrupt, involved with the Willy Bot on MtGox, and that they were even able to withdraw millions of dollars from MtGox after it was shut down in February for everyone else. He claimed to have all their financial transaction data, shell company information, and even emails proving all of the above.
However, just two days ago, he started posting some of the financial data here on reddit and stated that he was in the middle of uploading the rest of the evidence to his blog.
That's when things got really strange.
First, his Twitter account was deleted or blocked, and then his reddit account here (with gold), was also deleted completely. (Note: the original financial data he posted is still here, so I doubt the mods took action against his account for posting it).
His blog at has sat untouched since (likely because it's tied to his deleted Twitter account), and I haven't seen him post anywhere else either.
Anyone know what happened or where this guy went? Did anyone see the rest of his evidence before he disappeared?
Inquiring minds want to know...
His blog:
Article on the alleged corruption:
Original reddit thread from a few days ago:
Edit: Ok, immediately after writing this post, I started getting fucked up messages on Twitter from @gordonflarp (name listed as "Jennifer Baumgartner"), and they're referencing this post in the tweet. Anyone with tor running and the right skills feel like digging into that ID for me?
With the number of followers he/she/it has, it looks like it might be a compromised Twitter account trying to run some bots against people who tweet back.... maybe? I don't know.
submitted by paleh0rse to Bitcoin [link] [comments]

Hello r/Bitcoin. I'm Patrick Murck, Executive Director of the Bitcoin Foundation. Ask me anything!

I was recently brought on by the Board of Directors at the Bitcoin Foundation to be the new Executive Director, I'm 39 years old and live in Seattle with my wife and son. I'm a lawyer (sorry) and have been involved in policy and technology for about a decade now.
While I had been following bitcoin since the very early days and had some email conversations with Jon Matonis, I didn't get involved in the community until after a chance meeting with Charlie Shrem and Jered Kenna at a conference called the Future of Money. So you can blame them.
Since I've been involved in the bitcoin community I have testified before the Senate, I've recovered stolen bitcoin from hackers, I've worked in startups, I've started startups and I was one of the founding members of the Bitcoin Foundation. I've seen and experienced plenty of the ups and the downs over the past few years and witnessed the stubborn resiliency (honey badger-ish) of bitcoin.
Proud to be a part of this community and now AMA!
Thanks for all the great questions. I have to go now but will check back to answer any burning questions. Hope to do this again soon.
In the meantime, help us understand what you care about most by taking this brief 10 question survey.
submitted by virtuallylaw to Bitcoin [link] [comments]

The Bitcoin Ideology

The digital gold rush is upon us and I thought it would be helpful for those that only see Bitcoin as an investment to understand the philosophical reasons to own Bitcoin. To the bitcoin warriors out there, keep doing your thing to promote this revolutionary protocol. Peace and love.
IF you’ve only recently tuned in to the seemingly endless conversation about bitcoin, you could be forgiven for thinking that the digital currency is little more than the latest Wall Street fetish or a juiced-up version of PayPal. After all, so many headlines in the last few weeks have focused on its market price and the cool stuff you can get with it: Bitcoin breaks $1,000! Bitcoin plunges by a half! Bitcoin has a banner Black Friday! Use bitcoin to buy a ride on Richard Branson’s starship!
But all the talk about bitcoin’s value (or lack thereof) obscures the fact that it was never really meant as an investment nor primarily as a way to purchase sex toys or alpaca socks — let alone a brand-new Lamborghini. One could argue that bitcoin isn’t chiefly a commercial venture at all, a funny thing to say about a kind of online cash. To its creators and numerous disciples, bitcoin is — and always has been — a mostly ideological undertaking, more philosophy than finance.
“The ideas behind it — that’s what attracted me,” said Elizabeth Ploshay, a regular writer for Bitcoin magazine, which describes its mission as being “the most accurate and up-to-date source of information, news and commentary about bitcoin.” And if the magazine has a mission, so, too, does the subject that it covers. As Ms. Ploshay explained it, bitcoin isn’t merely money; it’s “a movement” — a crusade in the costume of a currency. Depending on whom you talk to, the goal is to unleash repressed economies, to take down global banking or to wage a war against the Federal Reserve.
For those with an uncertain understanding of its history, bitcoin entered the world on Jan. 3, 2009, when a shadowy hacker — or team of hackers — working under the name Satoshi Nakamoto released an ingenious string of computer code that established a system permitting people to transfer money to one another online, directly, anonymously and outside government control, in much the way that Napster once allowed the unrestrained transfer of music files. In a 500-word essay that accompanied the code, Nakamoto suggested that the motive for creating bitcoin was anger at the financial crisis: “The root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
It was fundamentally a political document and, as such, it attracted followers among libertarian and anarchist groups who saw in bitcoin a means of removing the money supply from the grasping hands of government. In blog posts and at bitcoin conferences around the globe, these evangelists began to spread its gospel. It is only in the last few months, as bitcoin has attracted the attention of political parties, regulators and speculative investors that the narrative of bitcoin as a tool for change has been drowned out by a simpler story line: that of bitcoin as a kind of crypto-credit card — or, even more, as a digitized casino game.
“Price is the least interesting thing about bitcoin,” said Roger Ver, an early investor who is often called, in a typical movement phrase, the Bitcoin Jesus. “At first, almost everyone who got involved did so for philosophical reasons. We saw bitcoin as a great idea, as a way to separate money from the state.”
While the bitcoin hype has inspired Ron Paulian dreams of evading inflation and undermining the Federal Reserve, the currency has also gained cachet among less conspicuously conservative adherents, like the founders of BitPesa, a start-up firm in Nairobi, Kenya, that plans to help Africans abroad send money to their families at home. According to the World Bank, $1.3 billion in remittances is sent each year to Kenya, a process that costs about $110 million in fees. By using bitcoin’s peer-to-peer technology to avoid banks and wire-transfer companies like Western Union, BitPesa hopes to reduce these fees by two-thirds, saving ordinary Africans $74 million annually.
You know you’re talking to a true bitcoin believer if you hear the word “disruption.” But that’s how bitcoin is seen within the broader movement: as an unruly tool with potentially transformative effects on entrenched businesses like retail payment and asset management.
“Right now in the United States, bitcoin is mainly considered a get-rich-quick scheme with a little financial privacy thrown in,” said Jon Matonis, the executive director of the Bitcoin Foundation, the self-proclaimed center of the decentralized crusade. “But its larger implications down the road are major disruptions to certain legacy industries.”
Mr. Matonis added that the ideology of bitcoin was wide enough to accommodate people on all points on the spectrum — “from libertarian capitalists to socialists.” It not only has a following among the anti-central bank crowd, he said; it has also proved attractive to communitarians like the residents of the Kreuzberg neighborhood in Berlin, which now boasts the highest density of businesses accepting bitcoin in the world.
There are even those who see bitcoin as the ultimate alternative to the global banking system. Ryan Singer, a co-founder of the bitcoin exchange Tradehill, based in San Francisco, compared the currency to email, conjecturing that it would gradually supplant traditional banking, just as digital messaging displaced handwritten letters. “When kids wake up to the fact that they don’t need their parents’ help to create a bitcoin wallet,” Mr. Singer said, “when they can use bitcoins for free international transactions, at any hour, in every major city on the planet, then you’ll know that something has changed.”
Perhaps the best proof of bitcoin’s ideological underpinnings is that a schism has emerged in recent weeks between moderate elements in the movement who sense the necessity of cooperating with officialdom, and a more uncompromising faction that wants to keep bitcoin free from any government regulation. The hard-line bloc is exemplified by the crypto-anarchist developers of a bitcoin product called Dark Wallet, which is scheduled to be introduced next year and will include extra protections to ensure that bitcoin transactions remain secure, anonymous and difficult to trace.
“We see this as part of the total sublation of the state,” said Cody Wilson, Dark Wallet’s director, who gained fame earlier this year when he published online the blueprints to a pistol that could be manufactured with a 3-D printer. “I know I sound like some kind of weird Jehovah’s Witness, but we’ve only just begun. We admit that we are ideologues.”
submitted by mw8912a to Bitcoin [link] [comments]

/r/CryptoCurrency - Invest Smart - Guide, Resources, Links, and More!

Hello everyone!
Thought I'd make a post of quick startup content and compilation to get you started into smart investing. I hope you all like it! Here it goes:
Google and twitter is your best friend. (To a certain limit)
Click "News" tab, and search the cryptocurrency you are researching. Go for something reputable like CNBC, Forbes, and so on for better accuracy but also use your wise judgement. For example there are some very good cryptocurrency and blockchain focused websites. The key is to find the few that get news out fast and non-bias. If you not a certain website constantly bashing a specific cryptocurrency that has held a high marketcap for longer than 6 months, clearly there is favoritism going on. Lets continue.
Click "All" tab, and search the keywords in the following format:
I find many people don't know about this but if you scroll the tabs (webs, news and images) to the left; you will see search tools. Sometimes it helps to sort it by dates and play around between one hour and 24 hours.
If you want the news first, many organizations that operate in the crypto field use twitter. Using the same keyword formats above in twtter is very beneficial. Alot more useless info but sometimes it pays off to take the time to go through it. Personally, after searching I like to use the "latest" tab.
Here are some twitter accounts worth following, and would be beneficial to your investment solutions:
I did not post any twitter accounts that might be reputable but have had major negative controversy or viral issues in the past. You might also notice some twitter accounts are missing such as contributors and founders. I have nothing against those accounts. Some are very reputable accounts (that I think are amazing individuals), however the OP requested specific requirements in the post. I cannot guarantee that all the twitter accounts above are not bias, but I did my best to list the least bias twitter accounts. Outside of this post, I do recommend following some founders, contributors, and exchanges! You can easily find them by participating in there community.
Please remember that quality research and due diligence go beyond just twitter. Be patient and spend quality time researching. Less time planning equals less profit or less chances of profiting. It takes one minute to place a buy or sell order. It also takes one minute to lose 99% of your holdings. It should not take you one minute. Patience.
submitted by golden-china to CryptoCurrency [link] [comments]

Is Craig Wright misunderstood?

Some suggested that Craig was setting up an advanced fee fraud.
That is clearly not what Craig Wright wants. See interview "I'm happy where I am. I am not looking for money. I don't want money. I don't want help. (...) If anyone puts me up for awards or anything like that, I will never ever accept a cent, ever! If you put me up for a Nobel Prize, if you put me up for an ACM turing medal, if you put me up for some honour, I will never accept a cent from any of you." - Craig Wright
There was a comment saying that a pgp key was backdated "gpg --export 5EB7CB21 | gpg --list-packets - | grep pref-hash hashed subpkt 21 len 5 (pref-hash-algos: 8 2 9 10 11)"
The paper Appeal to Authority: a Failure of Trust appeals this claim. "From what we will document below, the reader will note the ease with which a knowledgeable individual could have built a PGP key using the disputed cypher suites, “8,2,9,10,11”.We demonstrate this using a version of the GnuPG binaries that had been compiled in 2007" But even if the PGP key was backdated, it would not prove that Craig did not have the knowledge and capabilities to create Bitcoin.
He is known for being very good at computer security and cryptography and whether he has 1, 2 or 3 Master and/or PhD degrees does not disprove any of that.
I don't get why people insisting on cryptographic proof that Craig Wright is the main part of Satoshi Nakamoto. I mean the leaked emails (Gizmodo and Wired got) in which Craig is mentioned. His understanding, motivations and reactions are convincing enough, even without cryptographically signing anything!
I mean, Is it really that hard to understand if a person wants be left alone and being able to work instead of being in front of cameras all the time, and only wants to reveal himself because pressure caused by the leaked emails and the threats to his friends, family and staff, but is too afraid for the consequences of revealing that he is Satoshi Nakamoto?
How about the non-cryptographic aspects: "The social evidence, including his unique personality, early emails that I received, and early drafts of the Bitcoin white paper, points to Craig as the creator. I also received satisfactory explanations to my questions about registering the domain and the various time-of-day postings to the BitcoinTalk forum. Additionally, Craig's technical working knowledge of public key cryptography, Bitcoin's addressing system, and proof-of-work consensus in a distributed peer-to-peer environment is very strong. " - Jon Matonis (Founding Director at Bitcoin Foundation).
"During our meeting, I saw the brilliant, opinionated, focused, generous – and privacy-seeking – person that matches the Satoshi I worked with six years ago. And he cleared up a lot of mysteries, including why he disappeared when he did and what he’s been busy with since 2011. But I’m going to respect Dr. Wright’s privacy, and let him decide how much of that story he shares with the world." - Gavin Andresen (chief scientist at the Bitcoin Foundation)
When asked about Satoshi Nakamoto: Q:Why did you feel the had to come out or why do you feel you have to keep it secret for so long? A:"I would prefer to be secret now. I don't think I have to be out there. There's nothing owed to the world where I have to come out and say I'm X, I'm Y. I mean, no one needs to do that. It is my right not to say something. If I release a paper that benefits people, why do I have to take credit for it. Why do I? I don't have to bounce around TV cameras. I wanna work, I wanna keep doing what I'm doing. I don't work and invent and write papers and code by coming in front of TVs. I don't want money, I don't want fame, I don't want adoration. I just want to be left alone." - Craig Wright
Q:Why have you decided to identify yourself as Satoshi Nakamoto? A:"I didn't decide. I had people decide this matter for me. And they are making live difficult. Not for me, but my friends, my family, my staff. They want to be private. They don't want all of this affect them. I don't want any of them to be impacted by this. There are a lot of stories out there that have been made up. I don't like it hurting those people I care about. I'm going to do this once and once only. I'm going to come in front of that camera once and I will never ever be in front of the camera ever again for any TV station or any media, ever." - Craig Wright
submitted by DrakeRun to Bitcoin [link] [comments]

[uncensored-r/CryptoCurrency] /r/CryptoCurrency - Invest Smart - Guide, Resources, Links, and More!

The following post by golden-china is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link: CryptoCurrency/comments/74qcy2
The original post's content was as follows:
Hello everyone!
Thought I'd make a post of quick startup content and compilation to get you started into smart investing. I hope you all like it! Here it goes:
Google and twitter is your best friend. (To a certain limit)
Click "News" tab, and search the cryptocurrency you are researching. Go for something reputable like CNBC, Forbes, and so on for better accuracy but also use your wise judgement. For example there are some very good cryptocurrency and blockchain focused websites. The key is to find the few that get news out fast and non-bias. If you not a certain website constantly bashing a specific cryptocurrency that has held a high marketcap for longer than 6 months, clearly there is favoritism going on. Lets continue.
Click "All" tab, and search the keywords in the following format:
  • Research cryptocurrency
  • XYZ integration
  • XYZ hedge funds
  • XYZ released
  • XYZ listed
  • XYZ added
  • Accept XYZ
I find many people don't know about this but if you scroll the tabs (webs, news and images) to the left; you will see search tools. Sometimes it helps to sort it by dates and play around between one hour and 24 hours.
If you want the news first, many organizations that operate in the crypto field use twitter. Using the same keyword formats above in twtter is very beneficial. Alot more useless info but sometimes it pays off to take the time to go through it. Personally, after searching I like to use the "latest" tab.
Here are some twitter accounts worth following, and would be beneficial to your investment solutions:
I did not post any twitter accounts that might be reputable but have had major negative controversy or viral issues in the past. You might also notice some twitter accounts are missing such as contributors and founders. I have nothing against those accounts. Some are very reputable accounts (that I think are amazing individuals), however the OP requested specific requirements in the post. I cannot guarantee that all the twitter accounts above are not bias, but I did my best to list the least bias twitter accounts. Outside of this post, I do recommend following some founders, contributors, and exchanges! You can easily find them by participating in there community.
  • Check the cryptocurrencies official Twitter account and sub-reddits. Also, I can proudly say that this sub-reddit (/CryptoCurrency) is full of information and great people ready to help. Keep in mind when you're using social media's don't just fall for FUD (fear, uncertainty and doubt; in other words complete horse crap). Do some background research if the source is unreliable when using social media as a research tool.
  • Once again news websites that are generic such as Business Insider, Forbes, Fortune, CNBC, and so on. In terms of crypto generic news check out Cointelegraph, CryptoNinjas, CryptoCoinNews, CryptoInsider, and CoinDesk . If you're the type that likes news-feeds, you can try CryptoPress.
  • Follow all the main exchanges twitter accounts. Following them on twitter will keep you notified of any technical difficulties so you can avoid panic. Also they sometimes announce upcoming or newly integrated cryptocurrencies.
  • Cryptonaire is by far the most reliable source for cryptocurrency forecasts. Obviously always do your own due diligence and research; the site itself indicates that. Also if you do not feel confident about a new or low volume cryptocurrency target, be sure to check their verified section to avoid scams. In my experience they have not conducted any research on ICO's because they care about lowering their viewers risks more than anything. For the last year or so they have been working on their full web app launch, so its worth subscribing.
  • BitcoinTalk has a Altcoin Announcements section; it's worth looking for your target on their as well. However if the user is not reputable, than the source is unreliable.
  • CoinMarketCap should be bookmarked! It is a table of all the crypto default ranked by marketcap. If you care more about day to day, volume, and percent change then check out WorldCoinIndex
  • Read the whitepaper and determine which organizations and/or people will use it. Find out the population of the potential consumer. After that, do some reading into the consumer. Are they lenient on blockchains? Are they in need of a pivot that cryptocurrency / blockchain could be the wealthy game changer for the organization?
  • Check out the 'Community Info' section on this sub-reddit. They have a list of links to resources that can help you.
  • If you are the type that invests in ICO's, be sure to check for information about the foundation outside their site. Also find a real address, email, phone number, asset/secerities filing and so on. The more the better.
  • I cannot emphasis this enough, but get yourself a hardware wallet or even a secure computer to store all your assets! That is the only way you actually own your cryptocurrencies!
Please remember that quality research and due diligence go beyond just twitter. Be patient and spend quality time researching. Less time planning equals less profit or less chances of profiting. It takes one minute to place a buy or sell order. It also takes one minute to lose 99% of your holdings. It should not take you one minute. Patience.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

The Future of Bitcoin

Is Bitcoin in fact the biggest disruptive technology since the Internet itself?
Is Bitcoin's real innovation its ‘Blockchain' technology which is being used to build a completely new way of interacting online?
Will Bitcoin provide the basis for the next generation of apps?
Jon Matonis- Executive Director, The Bitcoin Foundation
Stephan Tual- Chief Communications Officer, Ethereum
Niki Wiles- Community Relations, Counterparty
Preston Byrne- Adam Smith Institute (ASI) fellow and associate at Norton Rose Fulbright
Chair: Richard Boase- Cybersalon/UK Digital Currency Association
Advocates argue that Bitcoin has the capacity to address not simply money issuance but other crucial questions of trust, financial privacy, transparency and freedom of expression.
Critics claim that Bitcoin's inherent anonymity encourages money laundering, gambling and drug dealing. They also point to its wild volatility as evidence that it functions as a poor store of value that will make economic activity ultimately less productive.
At this Cybersalon we will be asking what have we learnt from Bitcoin and where is it heading:
  1. What is 'Blockchain' technology and what are new applications are using it?
  2. Is Bitcoin likely to form the basis of the new Internet of Money and Trust?
  3. What is Bitcoin teaching us about global consensus, decentralisation and open source technologies?
So if currency is simply the first application for this Blockchain technology, what else is in the pipeline? Initiatives such as Ethereum, Coloured Coins, Mastercoin, Counterparty and Namecoin suggest decentralised stock, bond and equities markets, asset and property registration, notary services, DNS lookup system and more.
Bitcoin Background
Bitcoin (which is now known as a “Crypto currency” or Hidden Currency) has fluctuated from $0.0001 to US $1,200 in the span of 5 years. Advocates cite its capacity to be a truly global, digital currency- to lower remittance and cross border transfer costs particularly with regards to developing economies and its power to remove politics from the money supply. Its main attraction, they claim, is that all other banking and monetary systems are ‘pre-internet’ technologies but Bitcoin offers us the potential to build an entirely new system of global financial consensus, even acting as a global reserve currency.
Bitcoin 2.0
The value of the Bitcoin platform is that it can be used for other means than as a currency: for instance to transfer goods directly from person to person around the planet securely without third party verification. The way Bitcoin does this is through what is known as a peer to peer network, with these transactions being verified automatically by thousands of so called ‘Miners'. Bitcoin is not a company, and whilst Miners might act like employees, it was designed as an open standard protocol similar to http (web pages) or smtp (email), allowing anyone who wishes to to build companies, services and software to interact with it, and because Bitcoin functions a little bit like TCP/IP, owning a Bitcoin is akin to owning real-estate on the new internet, similar in some ways to owning name brand dot coms in the ‘90s.
what do you think this??
to score:
submitted by professorXY to Bitcoin [link] [comments]

[Table] IAmA: IAM Peter Vessenes, Executive Director of the Bitcoin Foundation. AMAA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2012-09-28
Link to submission (Has self-text)
Link to my post
Questions Answers
Most proponents of Bitcoin seem to believe that there will be a point where one coin exceeds a value of $100 or even $1000. Sure, that is definitely possible and I can accept that it may happen one day. However, since each coin has this intrinsic potential value.. why would anyone spend them on trivial stuff like food now? How can you spend something that you believe will continue to grow in value effectively to infinity? That seems like a fair complaint to me, in general. In practice, and as opposed to Krugman's thoughts on the matter, we have many thousands of happy Bitcoin transactors, I think people like to spend their bitcoins with others, give them away, and use them for things. I do know some Bitcoin businesses that try never to spend their coins. That said, we have had some periods like last year where EVERYBODY wished they'd spent their coins.. To my mind volatility is a worse 'evil' than being deflationary. As I said above, I think most government economists wish an inflationary currency (and many bitcoiners hate this, and talk a lot about how much they hate it), but I think there's definitely a place in the world for a deflationary value system. An interesting thought experiment for you -- if you forked the Bitcoin blockchain and changed issuance so that it tracked say, USD or USD/EUR inflation rates for issuance, would it have the same uptake or not?
Every once in a while I hear stories about security breaches including 240,000 bitcoins that went missing the other month. How do you ensure security of account holders funds? The practical security aspects of running Bitcoin businesses are a REAL need, and it's something we want to help on with advice, and possibly opt-in certification at some point. I say more about this elsewhere in the AMA.
Furthermore, most sites I've came upon that sell goods seem poorly managed and difficult to use. Is there a Bitcoin equivalent to sites like Ebay and Amazon? Re: bitcoin site usability -- I agree, it's often terrible! I'm not sure why this is, except to say that bitcoins make transacting online so easy that even people who can't afford a designer can do it.
A: How does the intrinsic non-fiat nature of the currency affect its susceptibility to market fluctuation? I.E. Better or worse stability than fiat currency? So far, because market cap is so low, (Roughly $100mm of value), Bitcoin exchange rates are highly susceptible to people pushing it around. This is really tough for everyone. There are a bunch of businesses that might not be viable until you have some exchange rate certainties that extend beyond a short (one day-ish) window.
B: What can be done to improve the resistance to massive fluctuations in value stemming from exchange market manipulation or normal use? There are some macro-economic things that could be done, like exchanges publishing all trades to a central area, and implementing locks if prices rise / fall too suddenly, but those all have their own effects to consider. I think the fundamental thing to do is help Bitcoin acceptance and uptake grow, increasing the size of the pie until there are a much smaller number of parties that could push the price around.
C: Is there anything that can be done to the standard to improve stability or is it all up to the markets to implement safeguards? So, we all do have a part in that stabilization for sure. There's also the angle of creating whole supply chains that are bitcoin denominated -- paying our staff in Bitcoins only is an attempt to work on that angle.
What do you say to people that claim Bitcoin is nothing but a pump-and-dump pyramid scheme designed to benefit it's creators? That they're sitting on a huge pile of bitcoins obtained by them before the currency was made available to the public when mining was far easier then dumping huge batches of Bitcoins destroying the price over and over again to enrich themselves and fuck everybody else? And that they get more chumps into the system to inflate the price again, by going around the internet and promoting Bitcoins as an alternative currency rather than a complete fraud? This borders on the troll-ish, but I will say that the Bitcoin network autosizes coin generation based on how many people wish to do it. That is, people opt in to make the coins and secure the network. Nobody is forced to.
Is the Bitcoin Foundation a non-profit, tax-exempt organization in the United States? Who among the directors and the board has experience running a non-profit? Why is the ED also a member of the board? How does the ED have the time to run the organization given his obligation to CoinLab? Why haven't I seen any of the involved parties at either of the last two Bitcoin conferences? Can we get somebody who isn't a white male involved? We're a 501(c)6, Washington DC Nonprofit.
I have experience launching a non-profit, hence my job.
ED's typically get a salary and work full time at the job; we didn't know if we'd have budget to pay someone who could operate such a thing, so we went with this structure. I anticipate that I will step down from being the ED at the earliest moment we know we have someone better to do it; running CoinLab is plenty of work for me.
Our assistant director Lindsay Holland is not a white male.
In general, Bitcoin is a white male sausage-fest, though. I urge you and all Bitcoiners everywhere to work on changing that.
What is the future of bitcoins? Do you think they will ever make government-issued currency obsolete? I don't know the future of Bitcoin, but I hope that I and the Foundation are a part of it!
I don't believe Bitcoin will ever obsolete a government currency, but I only speak for myself when I say that. Bitcoin is a fascinating and novel technology with a HUGE number of potential benefits to the world, so I'm into it. I don't see a government wishing to cede control of its currency to anything like the technocratic / consensus model that Bitcoins are governed by, though.
That said, I do hope that Bitcoins will be able to help people in areas of the world that need better money features. Mpesa is a great example of something that helps Kenyans (and people from a few other countries) by changing how money is used. Bitcoin has the potential to help people like that, all over the world, whether or not the 'market' is large enough in that country.
I personally think that sort of thing is SUPER exciting.
Could you describe the bitcoin foundation for me? Sure! It's a trade organization, member-driven. Its goal is to promote, protect and help standardize Bitcoin. Our initial goals are to provide funding for the core development team, run a 2013 Silicon Valley Conference, and create some opt-in certification methods and best practices for businesses dealing with Bitcoin.
Join us.. :)
Standardize? I can tell you hate our goals, so I won't spend a long time trying to convince you. But, I will say that businesses often need a long, secure timeframe to make investment decisions, and they need to have some sense that what they work on or invest in will be roughly similar at the end of their investment to the beginning.
Why do you want to "standardize"? For instance, imagine ebay deciding to take bitcoins. The person-hours to get that done inside ebay are staggering to imagine, from wallet scalability issue to accounting treatments, refunds, ... It would be a major endeavor.
What gives you that authority? It would be great for bitcoin if ebay took bitcoins. Seriously great, but they can't right now until they feel there is some generally stable path going forward.
Why is the core development team so deserving of funding when they can't even make a decent client? You might hate everything about that, and that's cool. I urge you to go ahead, fork the code, advocate as much as you like for something else. Bitcoin's free, both the protocol and the software. Nobody is stopping you.
Is there any legal action to be done if someone steals your bitcoins? Yep, if you're in the US, file a police report, and call FBI Cybercrimes division.
As an individual member of the Bitcoin Foundation, what do I get? Any perks or privileges? Email aliases, voting rights, a newsletter, etc? Or are these memberships mostly a way of providing financial support to the foundation? The bylaws are up now, so you can read in great detail what the organization will provide its members: Link to
In short, though, rights to vote people on / off the board of the Foundation, soon access to private forums, probably discounts to the bitcoin 2013 conference, happiness at supporting the dev team.
I would like to provide email aliases, we've got Patrick and Jon working on any possible gotchas there, though.
Many aren't taking bitcoin seriously because of the security issues some have had. What steps are you taking to legitimize this currency? Like Jeff says below, I would distinguish between fundamental protocol security and security practices.
Bitcoins fundamental protocol security seems pretty good at this point; I'm sure we'll all be keeping an eye on that quite intently into the future.
Practical Security has been, largely, terrible in the Bitcoin space for most businesses, Mt. Gox perhaps excepted. The amount of work it takes to secure 80 byte strings that may be valued in the million dollar range is non trivial. Think securing missile codes as to the level of security needed.
Many bitcoin businesses can't afford (or don't wish to) this sort of security. I'm hoping we can provide some tools and pointers for these businesses and their users to help people understand what they're getting into when they transact with a bitcoin business, and what their risks are.
The Bitcoin Foundation Membership (VIP) fees are definitely disproportionate. Why? Are we now heading for a two-tier bitcoin community? We got requests from large supporters to make a more expensive membership tier. I'm slow, but not so slow that I said 'no'.
I'm slow, but not so slow that I said 'no'. - So you said 'YES'? Someone said "Please make higher corporate member fees: Linux Foundation Top Tier member fees are $500k. Your plan is too low."
I said "OK, Thank you for that advice. We should do that."
Is the foundation primarily focused on US or also europe and the rest of the world? Right now Jon Matonis is considered our "Europe Expert" on the board. There's a huge amount of work to do just in keeping track of how Bitcoin is categorized and regulated around the world. I would expect the Foundation to put some time and energy into helping with that process, but it's not our first goal.
What would you or the Fundation do if the government declares Bitcoin ilegal? Advocate that such a thing is silly, unenforceable, and counterproductive.
Thats no answer to the question. Have you got any plans for the "unthinkable"? That really is what I would do. What do you suggest?
What are your thoughts on transparency of the foundation? How much revenue is there and how it is spent, will that info be public? We're aiming to be highly transparent. I proposed today that we publicize our cold wallet public keys so that people can check our balances. This got pushed back a month while we work on some logistics. I will follow up about this, though. I think having auditable books from day one is really cool.
What are your thoughts on fiat currency? I love it and wish more of it. I'm totally grateful that nations have standardized and created currencies for their people, so that I can travel and buy stuff without worrying about the reputability of a local bank when I go to exchange my money.
I read something recently about a Bitcoin based debit card system. How is that coming along? I don't know, but I want one! The Foundation would like one, too. We are trying to run the Foundation with only Bitcoins, so it would be nice to fuel up a debit card for some expenses.
Create an opt-in certification process for Bitcoin businesses. How will you be going about this? What will certification entail? TBD, But I am imagining that businesses could vet their processes and procedures against a set of published standards, pay for an audit, and then be able to help their users understand what level of security they provide, e.g. "Bronze certification -- the site could be trusted with 50 bitcoins of stored value per person."
Does the foundation intend to have control over and thereby over the main distribution channel for Bitcoin-Qt? We're a member organization. Some of our members do have access to and influence over and bitcoin-qt. I have no idea if they would like us to help manage, since we just launched yesterday.
If the decision makers for and bitcoin-qt want us to help out in those areas, I wouldn't mind. I don't think either of those things is super strategic to helping Bitcoin right now; there's more need for messaging and some financial security for the core team, and the other stuff we said we're going to work on this year. and -qt publishing don't seem broken to me or risky right now.
Given that Mt Gox has a (rightfully deserved) place on he board, what steps can and will you be taking to ensure that independent exchanges are encouraged and not ignored? Also what steps, if any, can and will you take to ensure the public that the commercial interests of those on the board do not conflict with the decentralised ideals and paradigm of Bitcoin itself? I don't know how we'd encourage or ignore exchanges, since everyone is welcome to join.
I do think this individual / corporate angle is at the heart of the Bitcoin, though; it's got a lot of parties that care about it, passionately. Some are investing millions of dollars. Some are tirelessly advocating for Bitcoin. Many sit around and troll and waste people's time.
I guess that partly we expect our board members will act with integrity, and that if they aren't representing the needs of their member class, they'll get replaced with someone who will.
I also don't know how we would, practically, decentralize Bitcoin, even if we wished such a thing. I don't think anyone on the board thinks Bitcoin is doing badly. We're all really excited about it and want to help. I personally believe if corporations (a small group or just one) ever provably controlled Bitcoin, they would become vastly less appealing and useful. So, we're on watch.
Not as on watch as a paranoid bitcointalk forum troll wants us to be, but we're on watch.
Why do you require a real name and real address, when bitcoins core values are to be anonymous? The Foundation's core values include openness and transparency. I think the Bitcoin anonymous thing is overblown and a bit of a myth, by the way. Every bitcoin transaction links two addresses; often people can be determined from those addresses.
At any rate, we wish to make sure you can't stuff the ballot box during voting, and we wish civil productive discourse among our members, so we need real names and addresses.
If you just want to support us without joining, you can always send money to our vanity donation address: 1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW.
What is the current, largest obstacle when it comes to wider Bitcoin adoption? I think Bitcoin adoption is growing nicely. There seems to be a sort of stair-step function where people figure out something new and broadly appealing to do with them, and it makes a big jump. I expect we'll see that many times over the next five or ten years.
Doubts about the network's scalability, uncertain status about its legality or something else? Bitcoin's brand seems bad to me; mostly the highly publicized exchange attacks worry people. It's too hard to have a secure cold storage wallet for even a very smart individual. I'd like to see some of those things improved.
Does Bitcoin have any plan to combat criminals using the currency to purchase things on online black markets? I can't speak for Bitcoin, but the Foundation has no criminal combatant plans. We do want our members to use their real names and promise that they only engage in activities legal in their jurisdiction, though.
That's mostly just a way of us saying who we want to hang out with, and expressing some community values we think will help our organization be a success.
Did you expect for the Bitcoin concept to explode as it has? I sort of did, but I definitely didn't put my wallet behind that explosion. Sigh.
Also, where do you see it going in the future? I talk elsewhere in the AMA about what I'm hoping for Bitcoin.
Will the foundation be sponsoring Bitcoin software outside of What do you mean? Like if Jeff Garzik made cool software that would help the Bitcoin world but didn't release it at would we try and help him?
The answer is yes.
I.e., the Foundation would provide a service with recommendations such as wallet security for an exchange, but I don't think the Foundation should be in the business of "certifying". Yeah, there's an interesting set of questions there about certification. I would LOVE to see a certification that brought with it the ability to be insured against loss and theft. Think how nice it would be for an exchange or wallet business to be able to offer that insurance. That said, I don't know of any bitcoin company that has such insurance yet. I think we have some work to do vetting out the processes and procedures, and then some sales and relationship work with insurance companies first. At any rate, we won't be stumping up security for certified companies through the main Foundation corporate vehicle ever. But I think the membership will want to discuss what a good set of next steps is toward that goal, if we're all sold on trying to make it happen.
What's the advantage to using bitcoins over government issued currency, basically why should I invest my $US in bitcoins? Some people have ideological preferences for Bitcoins money issuance scheme.
Some are nerds, and like it for nerdy reasons.
Some just like being able to pay whom they choose when they choose.
Some deal with payment infrastructures that are scary (Paypal freezes are scary), or slow (wiring money in and out of small country central banks is REALLY slow).
Also, they're neat.
How does it feel to know that a kitten wearing a top hat has more upvotes than you? That kitten is so damn cute. I spent some of my AMA time going "AWWW"
How will you try to keep BIG businesses from buying their way into "THE" Bitcoin Foundation? Bitcoin is inherently free, it's peer to peer, it can be forked, it's not controlled by the Foundation, especially one that's one day old.
So, I look forward to large donations from BIG businesses. We will use that money to further the Foundation's mission. Our members will, no doubt, be highly engaged in discussions about what to do with large donations. I'm looking forward to it.
What is your opinion on Canada's new digital currency, "Mint Chip"? How does this affect Bitcoin? I don't know much about it, but I think it's cool from what I do know, (and is it technically flawed? I don't recall). I'm all for money system experimentation, as you might guess.
You are starting to get increased media/congressional notice. Are you at all worried about being shut down and prosecuted like E-Gold was? Who is we? The Foundation is a member organization, nothing else.
There are some bitcoin exchange operators that actively flout the same AML laws that got the E-Gold founders in trouble.
There are some that try hard to do the right thing, jurisdiction by jurisdiction.
Personally, I don't worry about the ones trying to comply, and I don't transact with the ones flouting the laws.
Why do you have different vote classes, is one class worth more then another? Corporate members vote their seats, Individual members vote theirs.
Anecdotally, there are fewer corporate members, so a corporate membership vote has a greater proportional influence over a board seat than an individual membership.
so a corporate membership vote has a greater proportional influence over a board seat than an individual membership. - So there may be poll when votes of both classes come together? Like asking ALL members to opt out changes to the source code? I would be stunned if we voted on source code, ever. I don't think anyone thinks that is in the remit of the Foundation.
Pragmatically, the dev team is one arm of bitcoin source code governance, and miners are the other, since they can refuse to work with code changes they don't like if they do it in bulk.
The board meets often, and should be listening to its constituents; sign up as a member, and then mail your appropriate rep. As a sample of what we discussed today: "Should we do an AMA? Who will get member signup confirmations out? Can we publicize Patrick's bylaws yet?" were the scintillating topics of conversation.
Will I be getting an e-mail with receipt for my payment confirming my membership subscription? Yes, we are ACTIVELY working on it. Apologies.
What's the dev's payroll? TBD, now that we know what our member signups are.
I don't know if we'll release payroll or budget numbers outside the membership -- something we have to discuss.
What power does this foundation have over Bitcoin? Why did you make Satoshi the founder without his permission? We have no power over Bitcoin whatsoever.
I think we felt a foundation that didn't somehow acknowledge Satoshi would be a bit churlish, like ignoring Linus completely while making the Linux Foundation. Satoshi is, as always, free to participate as he/she chooses.
Has there been a growth in algorithmic trading of Bitcoins in the past year? If so, is that growth in algos added stability to the Bitcoin Market? I have no idea. But I'm curious about this too!
Why hasn't (almost) anybody heard of you before today? I keep a low profile. Until yesterday. Also, I gave up on the forums a long time ago; not productive enough for me.
That was very informative, thanks. Not that hard to grasp when somebody spells it out. The reason you do it is to provide a second element of value to a chain of transactions; the first element of value is consensus -- what everyone else says happens.
Is there a reason for doing this? Or just a way to pace the grinding nature of mining bitcoins? The second, arguably more powerful one is provable computation time spent on creating the consensus. So you can look at a set of bitcoin transactions and say "Ah ha, that had roughly [say] $1mm worth of computation time put in to securing and validating it! I believe it's safe to consider my $55 transaction secure."
Just out of curiosity, do you have any idea how many people have applied so far? Yep. We'll release end of first-month member numbers in 29 days. :)
How does one go about buying bitcoins? Probably the fastest way is to ask a friend who has some.
Next would be to use a service like Link to
How long are terms for each board member? Two years.
Will the Bitcoin Foundation promote a Vulnerability Reward Program ? I would like to see that, but I think the first things to do in terms of importance are on our published list.
Will the funds for a permanent memberships be put into an endowment, or will they be spent immediately? We haven't discussed it. Budget discussions are next couple of weeks, now that we have our heads around some numbers.
We also have to discuss if the foundation wishes to go long bitcoin, or instead spend to its annual budget. All TBD; if you have opinions send them on to your member reps.
I'm curious about this too. I'm not sure I understand how they work entirely. Maybe somebody could Explain like i'm five... Totally. They are confusing; it's a truly novel solution. Essentially it mixes something non-intuitive and magical-seeming (public key cryptography) with something very hard to imagine a solution for (distributed timestamping among non-trusted parties).
We will be seeing the concept extended out into a number of technology arenas over the next 25 years I imagine. It's an incredibly powerful solution-space.
I spent maybe an hour on the wiki reading the FAQ and everything, and it still makes references to "blocks" and "mining blocks" and those that mine have the option of transaction fees.. and I'm still not really sure what is happening. Yep, like I said. I've been thinking hard about them for two years, I have a cryptography background, and I still have 'a-ha!' moments weekly, at the very least.
There are a couple pretty good bitcoin explanation videos out there, but I'm not up to date on what the best one is. Maybe someone helpful can post a link.
After establishing support for food and shelter for Gavin, will there be opportunities for other bitcoin developers to apply for grants - maybe for specific implementations or features desperately needed. I'd love it. I think Gavin will be working out the specifics of what we want to do. I'd LOVE to see money put into a huge test suite, personally.
Thank you for furthering the effort of Cryptocurrency, I have written several policy papers in this arena, and look forward to the day where the deep web stigma is removed from the currency. Thanks FapNowPayLater! We genuinely appreciate the support.
Last updated: 2012-10-02 22:30 UTC | Next update: 2012-10-03 04:30 UTC
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Jon Matonis on Bitcoin and crypto-currencies ICO Hypethon 2017 - Jon Matonis Bitcoin Foundation Jon Matonis Interview Jon Matonis, Bitcoin Foundation, speaking at the IoD Annual Convention 2014 Jon Matonis - YouTube

The term of each appointee was expected to be 3 years. At the start of the Foundation, all five board members were appointed by the founders and all board members were founders, with the exception of Jon Matonis. Bitcoin Foundation Board Members (2012 to 2019) (Source: Bitcoin Foundation Website, BitMEX Research) One of the biggest promoters of the Bitcoin cause, Jon Matonis, has just accepted to be the new Executive Director of the Bitcoin Foundation. Before assuming this position, Jon Matonis served on the Board of Directors for the Bitcoin Foundation. Currently, he’s also the editor of The Monetary Future blog, a member of the Bitcoin Magazine EditorialRead More Biography. Jon Matonis was Executive Director of the Bitcoin Foundation until December 2014 and served as a board director for the group from its 2012 inception to the time he assumed the executive director position in 2013. Jon Matonis His career has included senior influential posts at Sumitomo Bank, Visa, VeriSign, and Hushmail. He is a former Executive Director and board member of the Bitcoin Foundation. Jon Matonis Resigns As Bitcoin Foundation Executive Director Pete Rizzo Oct 30, 2014 Jon Matonis is to step down from his positions as executive director and board member of the Bitcoin Foundation.

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Jon Matonis on Bitcoin and crypto-currencies

Jon Matonis (Bitcoin Foundation) at Crypto Summit 2018 in Zurich, March 28. #CryptoSummit #Blockchain #ICO #SMARTVALOR #Switzerland #Zurich Thank you for watching this video. We hope that you keep ... Episode 118: GoldMoney's Andy Duncan talks to Jon Matonis of the Bitcoin Foundation who... Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue talks to Jon Matonis, Bitcoin Foundation's Executive Director about the overall Bitcoin Economy, benefits for the mainstream online ca... Jon Matonis, Executive Director and Board Director of Bitcoin Foundation, speaking backstage at the IoD Annual Convention. For more videos, photos & quotes from the Annual Convention, please visit ... "Creo que va a ser una gran señal de compra para Bitcoin, cuando por fin veamos al XBT recibir la aprobación de la ISO". Jon Matonis, Director Fundador, Bitcoin Foundation Puede mirar este video ...

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