Connections, Ideas and Emotions

The Bitcoin Few Can and Should Help The Bitcoin Several

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I bought Bitcoin about a year ago. It soared in price. I sold enough Bitcoin to get my original stake, (it was a total gamble) back into my UK bank account.

I also bought a hi-spec laptop for my 13 year old son Louis for Christmas with my Bitcoin.

I’m not a looser in the Mt.Gox potential bankruptcy, but I have lost big. And not just me, but the Bitcoin community, I think.

A year ago I trusted the Bitcoin Foundation, the first place I read information about how to buy Bitcoin. I went with what I trusted on the Foundation site. I went with OKPay to send my Pounds to Dollars then send to Mt.Gox so I could buy my Bitcoin. Mt.Gox was ‘the’ exchange that stood out as working closely with the Bitcoin Foundation, what could possibly go wrong ? I was joining a community committed to fare play and economic liberalism, two things  I really believe in.

I knew I was gambling and I was prepared to loose all I had put it in to support something I believed in, a digital currency not controlled by established institutions, but a community of likeminded people that really knew what the future was about in computing terms.

I started to spread the word and encourage others to take part in owning Bitcoin. I set up a blog BitcoinCoach.co.uk

Right now, today, I’d like to spread the word that members of the Bitcoin Foundation and/or Satoshi Nakamoto will do all they can to donate as many Bitcoin as possible to account holders of Mt.Gox.

Bitcoin has very small number of  holders owning very big piles of Bitcoin. Of those few a lot of bought their Bitcoin at very very low value.

If my bank account or credit card had been hacked, I would not loose anything today. In Bitcoin world it’s not the same. The Bitcoin concept cannot work for the mainstream unless there are protections.

The Bitcoin community could underwrite Mt.Gox losses and show the world, the community supports it’s early pioneering community members.

Crypto currencies are the future, I’ve lost my stake in the future because of the experiment that was Mt.Gox. I can no longer promote Bitcoin with any confidence, nor can I spend my Bitcoin to support vendors, I’m out of the experiment and I was a valuable member of that experiment.

Sometimes I think my trust in the Bitcoin Foundation and Mt.Gox trust has been abused, my reputation and intelligence brought under scrutiny. But then I think it was one giant experiment I choose to be part of , so ‘deal with it Daren’

The only people that can help, are the big Bitcoin holders and the Bitcoin Foundation. I hope you read this, and think about rescueing me and thousands of others like me, that got behind your experiment.

We are worth keeping in the experiment.

It won’t cost you very much and could yield massive returns for the future of mankind. 

Please share. Thanks



Author: darenbbc

DAREN FORSYTH Founder & CEO 140Characters.co.uk Daren Forsyth is the Founder and CEO of 140Characters.co.uk, a new venture dedicated to creating and promoting social change via strategic social networking across the corporate, governmental and nonprofit sectors. The company is based in London, England. A 15-year veteran of the digital media arena, Forsyth has earned the reputation of an energetic, dynamic and innovative business leader. A self-proclaimed evangelist for what’s possible when communications technology is employed to bridge brands and organisations with their publics, Forsyth believes that 140Characters can both tap and leverage the growing demand and need for productive alliances between the communities. The company will embrace basic social-media dynamics, as well as tools as simple as home computers, to connect diverse networks within a strategic design. The goal is to offer an unprecedented medium to collect, synthesise and generate the shared ideas, knowledge and feelings that, as a body, can effect change across broad sectors. Prior to launching 140Characters.co.uk , Forsyth served three years at the British Broadcasting Corporation in a variety of executive-level business posts, beginning April 2006. In 2007, he was promoted to Senior Business Development Manager in the Future Media and Technology division. There, Forsyth established the BBC's strategic partnership with Microsoft, orchestrating the meeting between Bill Gates, the chairman of Microsoft, and the BBC director general, Mark Thompson. In addition, he created partnerships with IBM and was actively engaged in the BBC Archive and iPlayer projects. In late 2007, Forsyth was tapped by officials and seconded to become Director of Innovation and New Media for the Media Trust. The Media Trust is a UK, broadcasting industry-supported charity that promotes communication between the voluntary sector and the media. Over the course of his tenure, through early 2009, Forsyth shepherded a host of critical digital media initiatives, including an alliance with prestigious Siemens, which donated servers to the charity and helped update the technical infrastructure of the organisation. Before joining the BBC, Forsyth was a key player in the digital startup revolution. From 1996 until its sale in 2005, he was Founder and Managing Director of the highly successful Fernhart New Media, which he built into one of the UK’s most dominant digital TV and Web agencies. Now, returned to his entrepreneurial roots with 140Characters.co.uk, Forsyth is excited by the potential of his creative new venture. Daren Forsyth has been profiled in numerous business and industry publications, including: New Media Age, the Daily Telegraph and the Guardian. In 2004, the UK Government recognised Forsyth as a “Top 100 Pioneer of the First Internet Decade.” Forsyth is available to conduct workshops for corporations and nonprofit groups; to speak at corporate events, digital summits, public relations and marketing conferences, and news-industry meetings. He is also a facilitator for assisting governmental agencies in effectively engaging and communicating with their constituencies via social media and new technologies.

One thought on “The Bitcoin Few Can and Should Help The Bitcoin Several

  1. It’s a well-worn cliche in digital circles to say ‘the pioneers get the arrows, the settlers get the land’ but it’s never been truer than when applied to BitCoin.
    In order for BitCoin to succeed, it had to fail – it had to prove there was an appetite for a currency that was not tied to the dollar, the yen, gold or silver. It had to prove there was an appetite to transfer funds to where governments are not as ‘trustworthy’ as those in the West, and it had to prove that it could survive a little speculation and skullduggery and bounce back from it.
    BitCoin has the ability to change lives in a positive way for people who most need help and assistance, and not just line the pockets of VCs and those out to make a quick buck.
    It will bounce back, in a stronger and slicker form, but it needs to transfer from the few to the many.
    As I understand it, BitCoins are identifiable – therefore the coins that are missing must be trackable/traceable. However the lack of transparency in the market right now means that few are prepared to ‘fess up to the extent of their loss and only the Foundation seems to act in the interests of owners, so any lead in rectifying the situation has to come from them.
    BitCoin may be down, but it’s not out

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