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Michael Parenti

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Michael Parenti last won the day on June 5 2014

Michael Parenti had the most liked content!

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About Michael Parenti

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  • Birthday 04/09/1963

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  1. Committee Descriptions

    There will be committee descriptions on the foundation's website soon, as well.
  2. Mining pools & 51%

    Here is Gavin's post to the foundation blog regarding the centralized mining 'threat': Bitcoin mining has been too centralized for years, with just a handful of pool operators have controlled well more than 50% of hashing power. Recently, mining power has become even more centralized, with one mining pool (GHash.IO) likely controlling somewhere between 40% and 60% of hashing power. That isn't good, and if you are mining with GHash.IO I would strongly urge you to try one of the smaller pools, or, even better, take the time to run bitcoind and p2pool But it isn't disastrous, either. Even if GHash.IO is evil and intends to destroy Bitcoin they would be able to do only two things: The first thing they could do would be to double-spend already confirmed transactions. For example, they could send some bitcoins to an exchange, trade them for dollars, wire the dollars to their bank account, and then announce a longer blockchain where the transfer to the exchange never happened. Now they have dollars and bitcoins. There are some practical problems with carrying out that attack, though. They are likely to get caught, because it is impossible to wire money to a bank account anonymously. It seems very likely they would find themselves in legal trouble for defrauding the exchange. The second thing they could do would be to prevent transactions or new blocks from other people getting accepted, effectively stopping all payments and shutting down the network. I wrote about neutralizing that attack a couple of years ago. I think either attack is extremely unlikely from an economically rational mining pool-- blockchain history would make it obvious that they were mis-using their power, and I'm certain either technical or social solutions would be found to punish the bad behavior. However, this is a good time to re-iterate my standard disclaimers: Bitcoin is still a work in progress, and you should only risk time or money on it that you can afford to lose. Mining centralization is one of several potential risks; read Jim Harper's excellent Risk Management Study [pdf] for a clear-headed assessment of risks and consequences.
  3. What should Founding Members voting privileges be?

    It would be interesting to know what other board members' positions are on altering the Foundation's bylaws, as well as the proposals being forwarded here. I think that expanding the current US centric makeup of the board to include a board position representing the global affiliate chapters (we currently have five, and the goal is to expand that to 18 by the end of 2014) Is the far more interesting and useful proposal of Jon Matonis' ... being more inclusive and representative of the foundation's expanding, GLOBAL constituency.
  4. There is an interesting discussion going on at the Bitcoin Foundation Legal Repo on github that members might be interested in following - and discussing here for the broader membership, about what Founding Members Voting Rights should be.
  5. Bitcoin Foundation 2013 IRS Form 990

    The IRS 990 Forms also have their own page on the Foundation's website.
  6. Evolution of the Bitcoin Foundation to Software Protocol

    The foundation awards grants on a quarterly basis. To be considered for a grant, please submit a proposal via email to [email protected] with the following information: Brief overview of your proposal: Explain how your proposal furthers the Foundation’s mission to standardize, protect, and promote bitcoin. Needs assessment: Objectively address specific situation, opportunity, problem, issue, or need your proposal addresses. Goals/objectives: Provide a succinct description of the proposed project outcome and accomplishments, including your overall goal(s) and specific objectives or ways in which you will meet the goal(s). Methodology: Describe the process to be used to achieve the outcome and accomplishments, the impact of your proposed activities, how they will benefit the community and who will carry out the activities. Provide a time frame for your project and long-term strategies for ongoing maintenance of the project. Estimated costs/budget: Clearly delineate costs to be met by the Foundation. (Note: Grants will be awarded in BTC.) Qualifications: Describe applicant qualifications for funding including credentials of the applying company and/or key individuals involved. Award decisions will be made within 4-6 weeks of submission deadline. As a requirement of accepting a grant, grantees will be required to make regular updates on progress to the Board of Directors and for the foundation blog. If you have any further questions, [email protected] is the place to ask them :-) Michael
  7. Christine Duhaime and a group of international lawyers, professors, financial crime specialists and Bitcoin businesses are joining forces to collaborate on the world’s first law book on Bitcoin and other digital currencies: The project will be spearheaded by a Canadian lawyer Christine Duhaime, a partner at Duhaime Law in Canada, who is the book’s author. Collaborators in the law book will serve as part of an international editorial board who will provide guidance and insight into the emerging law of digital currencies, including Bitcoin, from around the world. “I am thrilled to have the opportunity to write about the evolving law surrounding Bitcoin and other digital currencies”, said Christine Duhaime, partner at Duhaime Law. “As the US Federal Reserve noted only weeks ago, Bitcoin’s disruptive technology may force banks and other financial institutions to adapt and change the way they provide services to consumers and it will open new markets for business all over the world. It’s important that the law keeps pace with emerging technologies like Bitcoin and we are excited to be a part of the international dialogue on Bitcoin law.” “Canada is likely to be the first jurisdiction in the world to have federal law on Bitcoin” said Ms. Duhaime. The Canadian government is currently debating amendments to its proceeds of crime legislation to regulate digital currencies. “The financial crime risks of Bitcoin are often highlighted in the media but Bitcoin has tremendous applications for financial crime prevention and the book will explore the legal promises of Bitcoin as well as its potential perils,” said Ms. Duhaime. “For example, the £4 billion carbon credit frauds that took place in the European Union could have been prevented if carbon credit exchanges were operated on the Bitcoin protocol because it has built-in fraud prevention mechanisms, something that is not well-known.” “What I love about Bitcoin is that it has incredible potential to provide financial services to millions of refugees and people in developing countries who do not have access to traditional financial services, many of whom are women in destitute conditions, and it also has the potential to eliminate global economic disparity,” said Ms. Duhaime, “but there are legal issues with such fundamental legal and economic shifts that need to be addressed in the legal literature and that’s what we’re doing.” The book will be published in 2014. It will cover legal and policy issues with Bitcoin and digital currencies and will include international taxation, regulation, financial crime, business issues, technology, international banking and financial systems, monetary policy, consumer protection, and future innovative uses for digital currencies for regulators, bankers, lawyers, academics and legislators. About Christine Duhaime Christine Duhaime is a financial crime lawyer and certified anti-money laundering law specialist who advises clients on financial regulation and financial crime compliance. She regularly speaks internationally on Bitcoin law and financial crime compliance. To learn more, visit http://www.duhaimelaw.com. To contact Christine Duhaime, email to Christine(at)duhaimelaw(dot)com or (604) 601-2046.
  8. Brock's Rebuttal

    I have been fighting Censorship my whole lifetime - locking down a thread is not tantamount to censorship, it is communication management. Ten members have expressed a desire to resign their membership - out of a community of 1500+ .... this does not even amount to ONE PERCENT OF OUR MEMBERSHIP. The thread has been closed, it has not been removed, or censored. This community HAS spoken, and their voice, overwhelmingly, is in favor of Brock Pierce. Those that continue to harp on the issue are doing more damage to the community and the future of Bitcoin than Brock Pierce has done, or will do. I am not closing any discussion about Brock Pierce on this forum. I am closing the "Post your resignations here' thread for a simple reason: It is not the place to post a resignation. The final post, citing Kevin Beardsley's instructions, closes the the stated purpose of the thread. You are welcome to continue to beat the dead horse of a duly elected Board Member's character as long as you want on other threads in other forums, in the media, or here on our own forums: [VIDEO] Brock Pierce responds to controversy Brock's Rebuttal There WAS a process about Brock Pierce, and it was called an Open Election. That his critics were late to the party, and feel disenfranchised, has been duly noted by the community, and the Board, and the general public. The positions have been stated, suggestions have been made as to how the community should deal with future elections and questions of this sort. As for now, there was a transparent, open election, based on the foundation's bylaws. The Board of the Foundation has seen no need to request Brock's resignation based on the instruments available in the same bylaws. PRODUCTIVE discussion and suggestions for improving the foundation's processes can take place on the following current threads: Evolution of the Bitcoin Foundation to Software Protocol Future Voting (some thoughts) Restructure Membership Classes in the Bitcoin Foundation ??? Assuming that the Board Members do not pay attention to the voice of their community is asinine. Recognizing that they don't always have the time or desire to engage on the forum threads which often devolve into flame wars, and prefer instead to focus on other priorities would be a bit more fair, imo. Jon Matonis made it clear in the Members Meeting at Bitcoin2014 that he and other members pay attention to what is going on here, and act on the will of its members general consensus. You can read his and other's remarks here: Bitcoin2014 Annual Members Meeting Transcript That being said, some members of this community have more 'power' or 'control' than others do, and i am one of them, as the Administrator and Moderator of the Forums, as well as the rest of the Foundation's online properties. Not all decisions are made based on a consensus vote of the community, some of them are made by individuals - Board Members, hired staff, and hired contractors. It's normal. I'm one of them, and i will use these keys to the house to move this community forward - with it's dissenters - as long as the dialog remains civil, and does not descend into ad hominem attacks, flame wars, etc. The foundation has recently added Kevin Beardsley to interface with existing members, as well as to bring us new ones. The foundation has recently also upgraded Brad Wheeler to administrator of this forum at my behest to interface with Kevin, myself, the new Affiliates Director Mark Woods, Public Affairs, and Legal staff so that communication flows in two directions. The Board made these decisions because they ARE taking the steps necessary to serve its community of members more efficiently as we enter this period of expansion.
  9. Brock's Rebuttal

    I met Brock for the first time in Amsterdam during Bitcoin2014, and discussed the issue with him personally. I believe him to be of sound character, honest, and dedicated to the foundation's mission. Brock Pierce has my full support, as do the rest of the Board Members - a group of diverse individuals with diverse opinions who are working diligently and honestly to advance the adoption and usage of digital currencies for ALL stakeholders in and outside the membership of the foundation. I am working for the foundation because of the quality of its leadership - and believe me, if i ever have any reason to believe that they are not of the highest character, and acting in the interest of its membership, i will be a VERY PUBLIC departure. Haters gonna hate, Potatoes gonna potate. Can we all get back to being productive now, please?
  10. Post Your Bitcoin Foundation Resignations Here

    This thread is now closed for comments, but will remain on the forums. If you want to cancel your membership, follow the directions specified above by Kevin Beardsley, Director of Membership for the foundation. If, as a member of this community, -you feel it necessary to continue discussing the issues surrounding Brock Pierce's election, please do so on the thread: Brock's Rebuttal -you feel it necessary to discuss the foundation's election procedures, please do so on the following threads: Future Voting (some thoughts) Restructure Membership Classes in the Bitcoin Foundation Evolution of the Bitcoin Foundation to Software Protocol Michael
  11. Post Your Bitcoin Foundation Resignations Here

    Regarding resignations from the foundation: We accept resignation emails sent to either [email protected] or to the secretary of the foundation, [email protected] , and they will be forwarded to me for removal from the forums and the homepage membership list. To date, two members have fulfilled this requirement and been removed from our databases. If you want to resign your membership, please follow the protocol, and send an email to the above provided addresses, and your request will be carrried out.
  12. Post Your Bitcoin Foundation Resignations Here

    All of us who are quite focused on our last minute tasks, and travel to #Bitcoin2014 i would like to add, also requesting patience. Cancellations / Resignations will be carried out technically by me, after other staff have confirmed the requests made here on the forum. Resigned members must be removed from three databases: -the members.bitcoinfoundation.org database -the bitcoinfoundation.org/forum database -the bitcoinfoundation.org/members page database
  13. Bitcoin Vive en México

    By Jinyoung Lee Englund Apr 28 2014 While governments around the world are trying to understand Bitcoin, Méxicans are using Bitcoin to purchase everyday necessities like food, clothing, and even healthcare. According to a recent study by Pew Research Center, “The United States is the most important source of money sent home by migrants to the 17 Latin American nations as a group (including México) that are the focus of this report. U.S. remittances accounted for three-quarters of the total in 2012— US $41 billion out of US $52.9 billion, according to World Bank data.” Consider this: in 2013 alone, migrants’ remittances to México was an estimated US $22 billion. “In countries like México where remittances often make up a large portion of a family’s income, Bitcoin empowers families simply by providing another cheaper, faster and more secure option for remitting funds. Bitcoin saves families money on hefty remittance fees that often include a base fee of US $5-10 and an additional percentage charge from 3-13%, per remit. Not to mention taking up to five business days to complete the remit in some cases,” said Jon Matonis, Executive Director of the Bitcoin Foundation. The most compelling social and economic benefit of Bitcoin is banking for the billions of unbanked people around the world. That includes providing more affordable and more efficient means of transacting internationally. Today, we’re especially thrilled to announce our newest international affiliate in México, Fundación Satoshi Nakamoto. Based in México City, the leadership team is comprised of Raul Nogales, President; José María Basagoiti, Vice President; Adriana Tortajada, Bitcoin Entrepreneurship; Lucía Cangas, Marketing; and Domingo García and Luis Rangel, Technology. “The use of Bitcoin in México and worldwide is at an upward trend. The need for education, standardization, protection and promotion has become essential. We are really excited to establish Bitcoin Foundation México and eager to start working,” said Raúl Nogales, President of Bitcoin Foundation México. The International Affiliate Program is integral to the foundation’s mission to protect, standardize and promote the development and adoption of Bitcoin worldwide. No one country can achieve this goal alone, and we are working with several countries to build a collaborative and supportive relationship to address their unique issues and priorities through localized leadership. At the same time, local Bitcoiners are connected to the global Bitcoin community and have opportunities to engage and contribute at that level through the foundation. The Bitcoin Foundation supports an international team of core developers, public affairs professionals and legal experts as well as a quarterly grant program, sponsorship of talented developers, and the annual Bitcoin conference, hosted in different regions around the world. Welcome Fundación Satoshi Nakamoto! For more information about the Fundación Satoshi Nakamoto Team, visit http://www.btcmexico.org/ The Mexican affiliate is also available under the subdomain http://mx.bitcoinfoundation.org Think Globally. Act Locally.
  14. Heartbleed (internet/ssl wide bug)

    As i mentioned above, the foundation's website is served by cloudflare. So far, 3,116,292 attempted heartbleed attacks on http://cloudflarechallenge.com/heartbleed . None have successfully retrieved the private SSL key.
  15. Heartbleed (internet/ssl wide bug)

    bitcoinfoundation.org is cached by cloudflare on the client side, and our server has also been updated, for anyone that's interested to know :-)