Announcing a Return to our Roots: The All-New Bitcoin Magazine

Bitcoin Foundation Upcoming Industry Seat Election


         Bitcoin Foundation Upcoming Industry Seat Election

In light of recent events, the Bitcoin Foundation will be holding an election for the vacant industry seat on the Board of Directors.

Please feel free to see the blog post the Foundation put out today:

Election for Vacant Industry Seat

The Bitcoin Foundation is holding an election for a vacant industry seat on its Board of Directors.

Here’s the overview:

Nomination Deadline: April 7, 2014

  • To nominate, you must be an industry member of the Bitcoin Foundation. Become a member here.

  • For this election, only Industry Members can nominate and vote for the Industry seat. See more specifics below in the “Details” section.

  • Email Greg Egan [email protected]to have your nomination added to the list. Each member can only nominate once; it is okay to nominate yourself.

  • All nominees will be required to fill out, sign, and mail in a physical form declaring their willingness to run for a seat and serve on the board if elected. The form will be provided upon acceptance of nomination.

Membership Sign Up Deadline for New Enrollment of Industry Members: March 31, 2014

  • If you are not already an industry member of the Bitcoin Foundation, you must become a member by March 31, 2014, to vote in this election. Details on becoming a member can be found here.

Voting Begins: Week of April 21, 2014

  • Details on how to vote will be sent to all members by email in advance of the first vote.

  • If we have a large pool of nominees, multiple voting rounds may be necessary.


What seat are we voting for?

The purpose of this election is to fill a vacant industry seat on the Board of Directors. Only Industry Members can nominate and vote for the Industry seat.

Who is on the current Board of Directors?

The new board members elected will join the current board:

  • Vacant (Industry seat)

  • Micky Malka, Founder of Ribbit Capital (Industry Seat)

  • Mark Karpeles, CEO of Mt. Gox (Industry seat)

  • Gavin Andresen, Chief Scientist (Individual Seat)

  • Jon Matonis, Executive Director (Individual Seat)

  • Elizabeth Ploshay, Manager of Communications of Bitcoin Magazine (Individual Seat)

  • Peter Vessenes, CEO of Coinlab (Founders Seat)

You can see details and background on the current board here.

Do I have to be a member to nominate, vote, and run for election?

In order to be eligible to vote in this election, you must be a current industry member of the Bitcoin Foundation, which requires full name, valid email address, and valid mailing address. Only Bitcoin Foundation industry members may nominate someone for this election. However, in order to provide for the widest range of capable candidates, nominees are not initially required to be industry members, but are expected to become industry members of the Foundation upon election.

How will the nominees campaign for the election?

We have set up a special section of our members-only forum where nominees can post their own threads to describe their platform and interact with our members.

What will the responsibilities be for an elected board member?

The Board of Directors for the Bitcoin Foundation is responsible for providing leadership and conducting business on behalf of the organization. As such, here is a brief outline of what will be expected of a board member:

  • Review and abide by the by laws. The bylaws are the basis for the organizational structure of the Foundation, and all board members must be well versed in their details and impacts on Foundation business.

  • Attend all board meetings. Board members are expected to attend all board meetings. Currently, our regular meetings occur once per month via video conference and are scheduled to accommodate a wide range of time zones of the participants. Interim meetings may also be required from time to time.

  • Occasional travel may be required. Board members may at times be required to travel on behalf of the Foundation. Approved travel costs will be paid by the Foundation.

  • Perform officer roles as assigned. Board members can be assigned officer roles in addition to basic board obligations, and are responsible for all tasks related to those roles as outlined in the bylaws.

  • Act in the best interest of the Foundation and its members. As the public faces of the Foundation, board members should conduct themselves responsibly in addition to actively seeking to further the goals of the Foundation.

If you are an industry member or know of an industry member who would be interested in serving on the Board of Directors, we are happy to discuss further with you what the expectations and responsibilities of being a member of the board entails.

Best regards,

Elizabeth T. Ploshay

Secretary and Member, Bitcoin Foundation Board of Directors


Bitcoin Price Analysis: Blowing Through Support Levels on the Way to $3,000

Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.

Bitcoin Schmitcoin

Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.

Huhnsik Chung and Nicholas Secara

Op Ed: Cryptocurrency’s Unrealized Opportunities for U.S. Tax Professionals

Tax accountants and firms that specialize in cryptocurrency will emerge to capture and service this market. The first movers will be the ones who stand to capture the oversized profits.

David Kemmerer

Op Ed: Anatomy of the Tether Attack: Are Stablecoins Vulnerable?

Last month's attack on Tether contains a cautionary tale: Only those coins that can survive such attacks have the slightest chance of becoming the “holy grail" of stablecoins.

Henry He