Not a day goes by without the former CEO-founder of Twitter not making a new Bitcoin-related announcement. It must be said that the subject has become his main occupation since the establishment of the Block company (ex-Square). An unfailing motivation for this convinced maximalist at the origin of a multitude of new functionalities, both theoretical and practical. But with a goal that always remains the same: to support the adoption of Bitcoin while respecting its initial ideology. And this obviously requires the establishment of legal protection for its developers.
There are different weapons to help slow down a project that has become too troublesome. And in the case of Bitcoin, this strategy most often involves regulatory authorities who try to deny the evidence of what it represents. But this has no real consequences on its decentralized independent network. Nor even on its ever-increasing adoption, both as a currency and as a financial investment. Reason why a second option is possible, in the form of legal proceedings against its developers.
A logic regularly used to weaken the enemy with the cost of lawyers and proceedings, even if the trial is lost in advance. The result is a “capitulation of individual defendants in the absence of legal support. “ A flaw in the security of Bitcoin that has just been highlighted by Jack Dorsey, accompanied by Alex Morcos and Martin White, respectively co-founder of Chaincode Labs and academic. With the proposed solution, the establishment of a support fund “to help defend developers. “
A support fund for bitcoin developers
How to succeed in preventing a decentralized structure from continuing to develop? A difficult question that the financial police are tackling against the universe of cryptocurrencies. With the main weapon of destabilization, attacks and “investigations” carried out against identifiable entities in relation to important players in this ecosystem. All this according to this simple and proven logic: if there is no leader or company to attack, the target becomes the developers. Because they are the ones who keep the machine running, even if they are not the effective leaders.
An excessive risk for individuals who are often isolated in the middle of this community nebula. And whose logical consequence is a “capitulation” in the face of “continuous litigation and threats which produce the desired effect. “ This without even having to lose a lawsuit. Or simply because of a lawyer’s bill to settle or fines finally imposed. But that was without counting on their new defender Jack Dorsey.
Because it seems that the latter is at the origin of the establishment of a Bitcoin Defense Fund. This follows an email to its developers today on the bitcoin-dev mailing list. And in which is exposed this strategy of legal support for the attention of an open source community “particularly sensitive to legal pressures. “
The “Bitcoin Defense Fund”
A non-profit structure whose vocation is to free Bitcoin developers from the legal hassles they are – or will be – exposed to. This thanks to volunteers and with the help of lawyers available on a part-time basis. All in order to answer their questions and concerns. But only if their case is deemed admissible by a board of directors responsible for determining those who will be able to benefit from it.
” The Bitcoin Defense Fund is a nonprofit entity that aims to minimize the legal headaches that discourage software developers from actively developing Bitcoin and other related projects. (…) The main objective is to defend them against legal proceedings in relation to their activities in the Bitcoin ecosystem. Including finding and hiring a defense attorney, developing a litigation strategy, and paying legal bills.”
Bitcoin Defense Fund
The email also states thatthere is currently no question of seeking funds to supply this structure. But it could well be, depending on the procedures selected. And this especially in the case of “other legal actions or to pay the staff. “
Bitcoin Irony, the first procedures that this defense fund may have to manage are in relation to the real wound represented by Craig Wright. This self-proclaimed fakoshi behind attacks against some of its developers. This follows accusations of “theft of private keys” in relation to the historic hack of the Mt Gox platform. And the billions of dollars it represents. Or the hosting of his white paper which he claims to be the author.