What is the Bitcoin Foundation?
The Bitcoin foundation is a foundation that has been created by some of the key people within the Bitcoin industry, to help expand the Bitcoin awareness across the globe and make companies and industries understand how Bitcoins can revolutionize payment methods as we know it today. The foundation also helps in all ways possible to make sure that the Bitcoin will not be undermined by botnets, that hackers will not be successful in their attempts as well as trying to correct all the misinformation that has been posted and said about the Bitcoin and its goals.
Their vision is to bring legitimacy to the father of all cryptocurrencies and keep the Bitcoin rooted in its core principles which includes an economy not controlled by politics, openness and complete independence. The foundation are believers of the power that a decentralized currency has and will do whatever they can to ensure that the Bitcoin will continue to be the way it is today, just with more acceptance and with a higher understanding of its purpose in the general public.
In the future the Bitcoin foundation hope to have standardized the Bitcoin and will be able to protect and promote the Bitcoin, so it can reach its full potential. The peer to peer concept behind the Bitcoin and the low transaction costs is something that many established payment methods today are not very fund off and will try to do what they can to make sure that the Bitcoin will not become valuable and something that the mainstream crowds uses.
Why is There a Need for a Bitcoin Foundation?
There is a need for a Bitcoin foundation because the Bitcoin is such a new and revolutionizing idea, that it needs people with the right perception of what the Bitcoin really is to promote it and tell the world the truth. Before the Bitcoin foundation was founded, the only news people ever really heard about Bitcoins was that it was used to pay for illegal drugs on an underweb website, but the Bitcoin already served several other purposes back then. This kind of media manipulation can be avoided by having an official foundation with elected board members who are looking out to protect the best interest of the Bitcoin and the people who are using it, so that we can continue to build on to this industry that is growing massively in front of our eyes.
The Bitcoin foundation has sworn to standardize the Bitcoin, Protect it and promote it as best as it can possibly be done and lives of donations and membership fees from companies involved in the Bitcoin industry. Since the Bitcoin foundation was created the Bitcoin has gotten a completely new and positive spin around the world and is beginning to spread to even the most normal people who wouldn't normally trust money on the internet. They are doing a great job at promoting the Bitcoin all the right ways and continue to develop on the Bitcoin to ensure that it can resist any sort of attacks that might occur in the future.
Should I Support Them?
This is completely up to you if you want to support them or not. The Bitcoin foundation accepts even the smallest donations they can get to try and continue their hard work. If you own a business that is accepting Bitcoins as a payment method or is otherwise involved in the Bitcoin industry, then you can also become a member of the Bitcoin foundation. They offer 6 different types of membership ranging from $25 to $100,000 in annual membership fee and you will be able to show on your website that you are a member of the Bitcoin foundation.