Bitcoin Foundation Launches to ‘Standardize, Protect and Promote’ Bitcoin (opens in new tab)

A while ago I wrote that perhaps the greatest contribution the Bitcoin experiment will make to humankind is to teach you and me and our neighbors more about the realities of economics. And now I will add that the Bitcoin experiment will also contribute to greater understanding of how nonprofit industry associations are organized to protect the economic interests of for-profit businesses. A lot of new industries have discovered that a few bad actors who screw up early can damage the reputation of the entire industry, and there are many previous examples of "competing" companies in a new industry banding together to promote consumer protection, as they say, and to promote the growth of their market. We'll see how this goes for Bitcoin.

I think an encrypted currency base managed only by computers and the market is fairer than a system run by a few men. Also I like privacy.

Here's a list of all the anonymous donations they have received so far (doesn't include membership donations): http://blockexplorer.com/address/1BTCorgHwCg6u2YSAWKgS17qUad... (currently 26.5 BTC)

Here's their website:

https://www.bitcoinfoundation.org/

Ah, the long-storied September announcement. Pretty good idea overall. I'd be happiest seeing a set of security best-practices agreed upon and some sort of mechanism for organizations and businesses to elect for auditing.