A number of Bitcoin Foundation members have canceled their memberships, citing frustration with the latest round of appointments and the 'general direction' of the organisation.
Controversial appointments and dealings
Patrick Alexander’s original forum posts sums up the sentiment of those who decided to leave. He argues that certain board members simply don’t have what it takes to represent bitcoin in a good light.
Lifetime member Olivier Janssens also left, along with Stephen Sunderlin, Pierre Rochard, Patrick Levell, Michael Goldstein, Stephen Angelil, Dan Plante and Christian Antkow.
Leaving the foundation, but still committed to bitcoin
Almost all of these members reiterated their commitment to bitcoin, saying they simply wish to distance themselves from the foundation – not the technology.
“I'm sorry, but in light of the recent allegations with the new foundation [board member-elects], I cannot in good conscience be involved with such an organization,” said Antkow.
Rochard said he was always quick to defend the foundation, but found the latest developments “too much”. Sunderlin, the man behind QikCoin, said he is terminating his corporate sponsorship of the foundation.
Janssens went even further. He offered to join the foundation as a Platinum member and pay the $100,000 fee if the foundation announces that it will restrict Brock Pierce from becoming a member of the board. The current board of directors needs to ratify the election before Lee and Pierce officially join the board.
Bitcoin Foundation forum admin Brad Wheeler responded to Alexander, outlining the way the foundation operates and why there was little to no vetting of members. He urged the members to read the Bitcoin Foundation's bylaws.
The last cancellation was posted late last night. The thread is relatively short and since it is reserved for members, it does not include comments from bitcoin enthusiasts who are not associated with the organisation.
However, many bitcoiners have taken to reddit to vent their frustrations. Most voiced support for the departing members and went on to criticise the foundation for failing to address their concerns.
The Bitcoin Foundation has since responded to CoinDesk's request for comment, suggesting that user feedback may still have a say in the final appointments.
A representative for Bitcoin Foundation said:
Resign image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.