01 Oct '12, 4pm

Can the Bitcoin Foundation build legitimacy for an outlaw currency?

Can the Bitcoin Foundation build legitimacy for an outlaw currency?

Some of the biggest names in the world of Bitcoin, the unregulated virtual currency with a small but devoted user base, are looking to give it a friendlier public face. Announced last week, the Bitcoin Foundation — which counts lead developer Gavin Andresen and Mt. Gox CEO Mark Karpeles among its board members — is meant to do for Bitcoin what the Linux Foundation has helped do for open source software, paying selected developers for full-time work and nailing down best practices. In a letter of intent, Executive Director Peter Vessenes said he hoped the Foundation could legitimize Bitcoin through standardization — a legitimacy that’s sorely needed now. "If US economic history says anything, it’s that people will invest in things that seem too good to be true." In late August, virtual hedge fund Bitcoin Savings & Trust shut down , leaving investors unpaid despite allegedly...

Full article: http://www.theverge.com/2012/10/1/3436984/bitcoin-foundat...

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Web currency Bitcoin seeks legitimacy, stability via foundation

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techhive.com 01 Oct '12, 2pm

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Bitcoin Foundation seeks stable ground for virtual currency - Network World

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guardian.co.uk 03 Oct '12, 2pm

It was an idea that first emerged at the end of the heyday of cyber-utopianism: Bitcoin , the virtual and universal curren...

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economist.com 03 Oct '12, 2am

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