Bitcoin Foundation to be Split in Half

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Following the issues raised over the weekend by one of the new Directors of the Bitcoin Foundation, Olivier Janssens. The Bitcoin Foundation, through Patrick Murck (Executive Director), has released their strategic proposal that was presented to the board earlier this year ( an assumption is that it was presented at the last Board meeting). The Bitcoin Foundation – Strategic Proposal Initially outlining the current situation, how at the close of January 2014 the Foundations treasury was at $5.2mm and in the following year, the close of January 2015, the Treasury stands at $463k. Part of the reason for this difference is stated to have been due to the falling bitcoin prices. At the end of January 2014, the average value was $800-$900 (Bitstamp), compared to $250 at the same time in 2015. Poor reputation and a decline in membership are also stated as part of the reason the Treasury has sunk so low. In spite of this we have made significant progress in turning around the financial situation with consistent month/month revenue growth and declines in operating loss. The proposal describes March (just gone) as possibly the first cash-flow positive month the Foundation has had since its earliest days. CCN …