Director Pierce Freshly Determined to Continue

Brock Pierce has broken silence this week with an open letter to the board of the Bitcoin Foundation, amid continuing controversy of his appointment as Director.

Stepping down from the board in response to hateful and uninformed chatter on Bitcoin forums or because of these resignations is not rational, prudent or warranted,” he wrote, “It would set a bad precedent for the Foundation, rewarding those who make scurrilous accusations and engage in character assassination, often anonymously.”

The comments came after Pierce received much criticism from the Bitcoin community residing online, in addition to the public resignations of ten board members.

“Saddened and angered”

Pierce’s vow to stay strong is perhaps an unusual choice in today’s climate, and public support remains elusive.

“Bitcoin is controversial in some quarters,” he continued explaining his course of action, “That’s why I believe we need people on the board who are not afraid of being publicly attacked and who have no skeletons in their closets.”

In response to the actions of board members, however, Pierce wrote, “I am sorry that 10 of 1,500 members chose to resign,” and perhaps by way of expanding on Bitcoin’s aforementioned controversy, “but I am at a loss to explain why they would do so now and not after Mr. Karpeles allowed Mt. Gox to implode or Mr. Shrem was indicted. I am saddened and angered by this.”

Nevertheless, the Foundation’s sights are firmly set on the future, with its talk at last week’s Amsterdam conference, which Pierce attended, focusing on international expansion and news that next year’s event will be held in an Asian location.

Accusations made against Pierce surfaced in 2000, but he was acquitted, and notes that he is not part of a current lawsuit filed by one of the same plaintiffs against four other Hollywood figures, the Wall Street Journal reports.

Meanwhile, Pierce continues to battle against the public outcry, responding to a barrage of tweets by user TrueBitcoinGirl today following publication of the letter, including “Innocent&ethical and with integrity would step down realizing how much damage this is doing to cause. And only earn respect.”

By contrast, user TwoBitIdiot voiced his support for Pierce, saying, I'm glad @brockpierce is aggressively clearing his name. Read his full statement on recent accusations.”

Amidst the dust settling, the public image of the Bitcoin Foundation now very much depends on Pierce weathering the storm and coming out with dignity. Whether he achieves this could well be a decisive factor influencing future acceptance for Bitcoin as a solution, and it seems at the very least that giving up now is not on his agenda. 

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