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Has the Bitcoin Foundation Run Out of Cash?

Posted by timothy on from the why-would-they-use-cash dept.

itwbennett writes The Bitcoin Foundation, an organization that promotes development of bitcoin, is 'effectively bankrupt' and has shed most of its staff, according to Olivier Janssens, a member of the foundation's board of directors. Janssens attributed the foundation's financial straits to two years of 'ridiculous spending and poorly thought out decisions,' adding that the board has tried to remedy the situation by finding a new executive director. Two other board members, however, said the foundation was not bankrupt, though in need of some kind of restructuring.

4 of 71 comments (clear)

  1. If Bitcoin can, why cant we? by Anonymous Coward · · Score: -1, Troll

    Why should the foundation behave different from the "currency" they are trying to promote?

  2. HAHAHA!!! IRONY... by Anonymous Coward · · Score: 0, Troll

    Ironic, that the Bitcoin "foundation" is funded with real money while it promotes its fake coins!

  3. NO MORE!!!!! by kaizendojo · · Score: -1, Troll

    Can we just all agree that this was over before it started and move on? I'd hate to have to write a script to remove any articles with BitCoin in them from view like I did with the Kardashians...

  4. Re:Silly Sheep by Anonymous Coward · · Score: 0, Troll

    The closest Bitcoin will every get to 1,000,000 is 1,000,000 BTC to $1.