Bitcoin Foundation Blew 5 800 Bitcoins in 10 Months

The Bitcoin Foundation(TBF) Founding Director Jon Matonis explains the $4.6m loss in 2014. Funds were drained by exorbitant monthly expenses, conferences and the falling price of bitcoin. Today the ex-VISA employee advises Bitcoin entrepreneurs on funding. The role of the organization that introduced lobbying to Bitcoin and attempted to meme-ify titles for Bitcoin developers remains ambiguous. Despite recent announcements purpotting a change in focus towards development, questions remain unanswered. Like, what happened to the 5800 bitcoin mentioned in their 2014 transparency documents? A lot of the funds that did not go towards funding core development actually went towards sponsoring annual conferences for the […]

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If you hate Altcoins, maybe Bitcoin just isn’t for you

An Altcoin is a Bitcoin derivative – not the financial term. As if Bitcoin terminology wasn’t hard enough already. The source code for Bitcoin is open source. Meaning anyone can make a few small changes and launch a Bitcoin clone. Closed-minded Bitcoin proponents argue Altcoins are a waste of time, energy and resources. They detract […]

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Chip Shot: Largest US Hack-A-Thon to Help Solve Social Challenges

This weekend at over 83 U.S. Cities, the National Day of Civic Hacking initiative will bring citizens together with government and private organizations with the common goal of improving their community through the unique application of data. The world has been madly digitizing everything from music and books to business transactions and scientific data, but we are only just beginning to understand data’s potential when put in the hands of individuals. Intel Labs is sponsoring events like this to engage and empower people to explore novel applications of their digital information. Get the fact sheet.