Posts: 1084 from 2003/2/15
From: Central Europe
Regardless of how credible the rest of the project may be, the choice of name reeks of a shady scam.
You mean the "Bitcoin" part or the "Private" part? It's in the eye of the beholder I suppose.
Hijacking the established and widely known Bitcoin name with the obvious motive of profiteering off the name of an essentially unrelated project due to deliberately manufactured consumer confusion is morally bankrupt behaviour.
Trademarked names are the achilles heel of community-owned open source projects as you cannot effectively protect names without having them registered by a legal entitity and without the resources to engage in legal disputes as necessary. Exploiting this weakness is a cut-throat business move that is simply shady.Quote:
It's a very serious project BTW...
Not with a name like that. Sorry.
The euphemistic view is that the project leads may be technical geniuses but lack the business savvy to understand the implications of their choice of name. Personally, I happen to think they know exactly what they are doing and I, for one, would never support this project in any way unless they changed the name, which I am sure is unlikely.