Not content with the goal of bloating the blockchain with its proposed increase of the block size limit, the Bitcoin Floundation has now moved to assist in diluting the Bitcoin brand, the very brand which they claim to represent, by allowing so-called guest bloggers to promote alternative coins on its blog under the banner of mainstream adoption.
Authored by Vogogo's Head of Marketing and Creative Chantel Meeley, the article implies that due to the large number of coins available, a new brand which is inclusive of all coins is required if mainstream adoption is to occur. To that end, Vogogo have teamed up with the infamous altcoin exchange Crypsty to promote BrandMeCrypto's logo competition in which the winner will be awarded $10,000.
Feigning ignorance of the strength of the Bitcoin brand, BrandMeCrypto's website reads:
Does cryptocurrency need a brand?
The short answer is YES.
The world of money is changing and changing fast. With cryptocurrencies in the market the flexibility for payment globally has expanded substantially. Currently there is more than 650 crypto coins available, yet the process of obtaining crypto coins, spending or sending crypto coins is still in its infancy. Governance and businesses are putting numerous practices in place to better define cryptocurrencies and how it is utilized.
With that should also be the development of its brand. However as cryptocurrency is a global product and decentralized no one business or governance can brand it to give its overarching identity it requires. With 1 Bitcoin and 650+ alternative coins each with their own symbol this new currency needs its symbol, just as the US dollar, British pound, Chinese Yaun or all the other world currencies have their symbols.
Brand Me Crypto is a global iniative that will facilitate a platform for all of us on a global level to design a brand for crypto with the same notion to its culture. Built by the people for the people.
Coupled with the fact that the Bitcoin Floundation has been haemorrhaging money for some time and that marketers often pay publishers to promote their content under the guise of guest blogging, one can't help but wonder if the Bitcoin Floundation is now accepting payola1 so as to stay afloat a little longer in a futile attempt to remain relevant in a future which deems them not to be so.
If the Bitcoin Floundation had an ounce of self respect remaining, it would immediately fire Jinyoung Lee Englund for such transgressions.2 But they don't, so they will continue to scam, mislead and deceive and now, promote alternative coins.
I have contacted them for comment. ↩
She is the Director of Communications & Business Development at Bitcoin Floundation and responsible for content which appears on the Bitcoin Floundation's blog. This is not her first nor second act of incompetence. This idiot was responsible for moving the Bitcoin Floundation's blog to another platform and breaking all links to old content in the process. She is also now incorrectly attributed as the author of posts previous authored by people such as Patrick Merck. ↩