For those who have been following my blog, you should be aware by now of my interest and work in the field of cryptocurrency. Recently, I made the decision to take my interest and work a step further. I did so by joining the Bitcoin Foundation.
What is the Bitcoin Foundation?
The Bitcoin Foundation is basically an American non-profit corporation. The foundation was founded in September 2012 with a mission to standardize, safeguard and encourage the usage of Bitcoin cryptographic money so users worldwide can benefit. The foundation was modeled based on the Linux Foundation. It is primarily funded through grants from for-profit companies that rely on the Bitcoin technology.
The founding documents of the Bitcoin Foundation list some of its original members as Gavin Andresen, Mark Karpeles, Charlie Shrem, Roger Ver, Patrick Murck and Peter Vessenes. Existing board members are separated into one of three categories, which are Individual Members, Industry Members, and Founding Members. The members of the board are a combination of members of the previously mentioned categories, who were specifically elected to serve in the various categories. Gavin Andresen, who is the former lead Bitcoin developer, is now employed by the foundation in the position of ‘chief scientist.’
The vision of the Bitcoin Foundation is that this cryptocurrency will be accepted globally as a method of storing and exchanging value. The vision is also for Bitcoin to operate without being dependent on third parties.
The mission of the Bitcoin Foundation is essential to coordinate the efforts of Bitcoin community members, helping with the creation of awareness of the benefits that can be gained from Bitcoin. The foundation is also committed to teaching members how to use the cryptocurrency and its associated technology requirements, for the media, technologists, regulators, and everyone else across the globe.
The values of the Bitcoin Foundation are:
- Guaranteed financial access
- Financial inclusion
- Stable money supplies
Why I Joined
I strongly believe in the cryptocurrency industry and there are many reasons Bitcoin is highly appealing to me and other investors. Some of these reasons include:
- Bitcoin is decentralized and this means no central bank, government or any other single authority controls it. It actually exists in a blockchain, which is essentially a peer-to-peer network.
- The Bitcoin blockchain uses RIPEMD and SHA256, which are cryptographic hash functions, for security purposes. This protects it from hackers and makes it impossible to alter.
- All transactions made by Bitcoin are logged on a public ledger; this means each transaction can be easily verified.
- Just 21 million Bitcoins will be produced; this is an indication that, over time, the value of this cryptocurrency is highly likely to increase.
- Bitcoin addresses are basically a series of 34 alphanumeric characters; this means they provide anonymity for users.
How You Can Join
For $100 per year or just $10 per month, you can become a part of the membership of the Bitcoin Foundation today. Visit the Bitcoin Foundation website to join. Your fee will also assist in funding training and advocacy programs, which helps the foundation to fulfill its mandate. As a member of Bitcoin, you will get the opportunities outlined below:
- Take part in the yearly planning procedure for advocacy and training programs conducted by the Bitcoin Foundation
- Gain the right to use an exclusive members-only monthly newsletter and Slack channel
- Have access to special offers and exclusive discounts for products and partner and foundation events
- Obtain a monthly exclusive financial and operational report from the Executive Director, updating you on the happenings of the foundation
- Change the world