De-decentralization of Bitcoin

5 Oct

Most of bitcoiners know about “The Bitcoin Foundation” which was announced on BitcoinTalk ( a week ago. According to the poll “Do you support the launch of the Bitcoin Foundation?” ( more than half bitcoiners support this launch. But some bitcoiners don’t and this led to hot debates in different threads.

I’m a one of those who are against the launch of TBF. The most danger that comes from TBF existence, from my point of view, is a chance that Bitcoin will lose its decetralized non-regulated nature and become just yet another digital fiat currency. Unfortunately, me and others who share my point of view were tagged “haters” and “trolls” by majority of BitcoinTalk users and our voices weren’t heard…

I’ll jump to the issue that made me to create this blog.

Few weeks ago I found a website with some disinformation on it:

After a while I met similar disinformation again:

The target auditory of both sites are people who unfamiliar with Bitcoin. I found the second site via a post on BitcoinTalk:

I used WHOIS service to know who was the owner of BITCOINCARD.ORG:

After that I googled “Thomas Holzinger” to get more information about that person and found this:

The very first post in that thread was made by the same person who is met on the previous screenshots:

I used WHOIS service again to know who was the owner of NEFTVODKA.COM and saw “Thomas Holzinger” again:

The thread about NEFTVODKA contained a link between BitInstant and Erik:

I wasn’t sure that was that Erik who started the thread, but I found a proof:

I decided to pay more attention to Bitcoincard. Gavin Andresen (the lead core Bitcoin developer) knew about Bitcoincard:

I found BitInstant and Erik again in that blog:

At the bottom of the blog we could see a photo with Gavin and the CEO of BitInstant:

The same people are self-assigned founders of The Bitcoin Foundation:

Yesterday I published on BitcoinTalk these pictures with my suspicions that TBF is becoming too overpowered and could use this power to regulate Bitcoin for their profit. The thread got 100+ views and 20+ replies before it was removed by a moderator. Today only Google knows about that thread:

…And some users of BitcoinTalk:

The fact that published information was removed made me to suspect that I was right and TBF tried to get influence over Bitcoin. The most possible scenario:

  • Bitcoincard helps Bitcoin to become popular among millions of users
  • The Bitcoin blockchain that stores all transactions becomes too big to be handled by home PCs
  • The Bitcoin Foundation offers a service that let to check if particular bitcoins are real bitcoins (now the blockchain does this)
  • The Bitcoin Foundation gets ability to create bitcoins out of thin air by just correcting their own records
  • Bitcoiners meet the same issues as we have right now with fractional-reserve banking and other “nice” features of real-world banking system

Exponential growth of the blockchain is a real issue now. On it’s seen that the blockchain is more than 2 GB.

SatoshiDice ( gambling service pollutes the blockchain very fast:

By the way, SatoshiDice was launched by Erik Voorhees mentioned on the first screenshots. I don’t think SatoshiDice is a part of TBF’s “evil” plan, but it’s an interesting coincidence.

PS: I’d like to make it clear. I do not accuse The Bitcoin Foundation that they are going to seize the Bitcoin world. Perhaps they have very good intentions. But we ought to scrutinize every their step in case if I’m not just a scaremonger…




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