# Gavin Andresen
# 2012-09-27 10:18:51
# https://bitcointalk.org/index.php?topic=113400.msg1224721#msg1224721

I'm pleased to announce the launch of the @p{(link}Bitcoin Foundation@p{link)}: @p{brk}

@s{quotedtext}
@s{quotedtext}
 @p{brk}
The Bitcoin Foundation is modeled on the Linux Foundation. I think Linux is a great "role model" for Bitcoin; it is a very successful open source project that really embraced the notion of "open," encouraging the use of the core technology for a wide range of applications. @p{par}

I hope that the Bitcoin Foundation will help do the same for Bitcoin. @p{par}

Of course, "the Foundation" won't do anything at all@p{--} people get things done. I want the Bitcoin Foundation to be an open, member-driven organization, and hope that you or your organization will not only become a member but will help the Foundation accomplish its mission. @p{par}

Please visit the Foundation website for details, and please keep in mind that nothing is set in stone; the structure of the Foundation can be changed by a vote of its members, and exactly what the Foundation does will largely depend on who is willing to step up do the work to make things happen. @p{par}

To any of you feel like you should have been invited to be part of the group who defined the initial structure and purpose of the Foundation: I apologize. But in my experience the larger the group, the longer it takes to get things done, and it has been 11 months since I first @p{(link}posted about@p{link)} the possibility of forming a Foundation. @p{par}


@p{hrule}
In what will doubtless be an ineffective attempt to fend off the trolls, here are some answers to what I expect might be commonly asked questions: @p{par}

@p{(bf}Q:@p{bf)} Is this the infamous September Announcement? @p{par}

Yes. @p{par}

@p{(bf}Q:@p{bf)} How do we know you won't just take our bitcoins and run? @p{par}

We won't. The initial Foundation board members are all people with well established reputations using their real names. @p{par}

@p{(bf}Q:@p{bf)} How do we know you won't lose our bitcoins to hackers? @p{par}

We'll be using a cold wallet, with the private key securely backed up, for most of the Foundation's funds; in the near future I expect we'll be using a multisignature cold wallet, with keys controlled by multiple Board members to keep the funds even more secure. @p{par}

@p{(bf}Q:@p{bf)} Is this just a front for the CIA? What is the hidden agenda? @p{par}

No. And there is none. @p{par}

@p{(bf}Q:@p{bf)} The Foundation is a corporation, and corporations (especially US corporations) are evil. @p{par}

OK. So don't join@p{--} go form your own non-corporate non-evil organization, or just ignore the Foundation and do whatever you think is right. @p{par}

@p{(bf}Q:@p{bf)} How, exactly, is the Foundation going to spend the money it gets? @p{par}

That depends on how many bitcoins it gets from memberships and donations. See @p{(link}Peter's "Letter from the Executive Director"@p{link)} for the current list of priorities, and see the @p{(link}Linux Foundation@p{link)} website for an idea of the types of things I hope the Bitcoin Foundation will be doing, assuming it has the funds. @p{par}


@p{hrule}
 @p{brk}
Finally, thanks to Peter Vessenes, Patrick Murck, Mark Karpeles, Charlie Shrem, Jon Matonis and Roger Ver who stepped up and did the work necessary to get this started.