[ANN]Concept for Charitycoin! 50% of mining revenue goes to charity.

fishy

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Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: JessicaMILFson on June 19, 2013, 07:15:58 PM

It sounds like a good idea.

Have you considered implementing this coin as part of a colored coin feature in upcoming future cryptocurrencies?

Colored coin? I've heard of it but don't really know about it.

JessicaMILFson

full member

Activity: 182

Merit: 100

It sounds like a good idea.

Have you considered implementing this coin as part of a colored coin feature in upcoming future cryptocurrencies?

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: solracx on June 19, 2013, 03:15:13 PM

Quote from: fishy on June 19, 2013, 03:05:23 PM

Quote from: solracx on June 19, 2013, 02:33:23 PM

you need to do some research as to what is allowed... you also need to register a non-profit org.

I don't think registering as a nonprofit is required, we can just exchange the charitycoins.

I got no idea as to what legal requirements are needed for a person to act as a solicitor for charities.

Also, like all charities, there's a management fee. I gather part of that 50% goes to the management fee?

Someone needs to sell the minted coins in the open market... then cut a check that goes to the charities.

May be feasible, (you have to wait for ZenithCoin to implement this tracking functionality).

If you are serious about doing the charity work, then I certainly can donate whatever we build on ZenithCoin to make it happen.

I will try to reduce costs wherever possible and to make it both as a standalone currency and a resource for charities. I think we shall convert into USD and then donate and spread the word to exchanges and charities.

solracx

sr. member

Activity: 294

Merit: 250

Quote from: fishy on June 19, 2013, 03:05:23 PM

Quote from: solracx on June 19, 2013, 02:33:23 PM

you need to do some research as to what is allowed... you also need to register a non-profit org.

I don't think registering as a nonprofit is required, we can just exchange the charitycoins.

I got no idea as to what legal requirements are needed for a person to act as a solicitor for charities.

Also, like all charities, there's a management fee. I gather part of that 50% goes to the management fee?

Someone needs to sell the minted coins in the open market... then cut a check that goes to the charities.

May be feasible, (you have to wait for ZenithCoin to implement this tracking functionality).

If you are serious about doing the charity work, then I certainly can donate whatever we build on ZenithCoin to make it happen.

crumbs

full member

Activity: 210

Merit: 100

Quote from: peonminer on June 19, 2013, 01:45:52 PM

[...]
ICOPS- Illinois Counsel of Police - Basically calls you to sell you a sticker for your car window and receives 87% of the collected funds. The remaining 7% goes to a very tight nit group of cops in Illinois.

How well does the stickie work? How many does it take to drive 50 in a 30mph zone?

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: solracx on June 19, 2013, 02:33:23 PM

you need to do some research as to what is allowed... you also need to register a non-profit org.

I don't think registering as a nonprofit is required, we can just exchange the charitycoins.

solracx

sr. member

Activity: 294

Merit: 250

Quote from: fishy on June 19, 2013, 02:27:30 PM

Quote from: solracx on June 19, 2013, 02:23:50 PM

Quote from: fishy on June 19, 2013, 02:18:20 PM

Quote from: solracx on June 19, 2013, 02:13:40 PM

you can prove to me that money will actually go to charities.

That's the hard part, they're aren't any charities which even know about this.
Since you are an independent entity, you should be the "main" address, the one from which charities receive money.
(Like how devtome is the devcoin "main" entity)
In the beginning, you will distribute the coins but eventually charities will get the client and their addresses can be embedded "inside" the coin so that when it is mined the coins are sent directly.

Obviously the coins will not got directly to a charity... rather you need to convert them into currencies they can spend.

In short, the dev. of this coin needs to be a trusted party.

The addresses that are in the client tend to be static. One would have to allocate address to perhaps to the charities involved.

Perhaps one need go back to the drawing board and figure a way for charities to accept BTC or LTC.

Would you like to be part of the dev?
If you are not a web developer, graphic designer, etc. you can be one of the trusted members.

I can certiaily implement the coin... we need to discuss the key features:

(1) All donations need to come from known sources?

you need to do some research as to what is allowed... you also need to register a non-profit org.

the way I see it... coin gets exchanged to USD... and then you show proof that you donated to charity X.

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: solracx on June 19, 2013, 02:23:50 PM

Quote from: fishy on June 19, 2013, 02:18:20 PM

Quote from: solracx on June 19, 2013, 02:13:40 PM

you can prove to me that money will actually go to charities.

That's the hard part, they're aren't any charities which even know about this.
Since you are an independent entity, you should be the "main" address, the one from which charities receive money.
(Like how devtome is the devcoin "main" entity)
In the beginning, you will distribute the coins but eventually charities will get the client and their addresses can be embedded "inside" the coin so that when it is mined the coins are sent directly.

Obviously the coins will not got directly to a charity... rather you need to convert them into currencies they can spend.

In short, the dev. of this coin needs to be a trusted party.

The addresses that are in the client tend to be static. One would have to allocate address to perhaps to the charities involved.

Perhaps one need go back to the drawing board and figure a way for charities to accept BTC or LTC.

Would you like to be part of the dev?
If you are not a web developer, graphic designer, etc. you can be one of the trusted members.

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: Shmoopy on June 19, 2013, 02:23:40 PM

Correct me if I'm wrong, but Devcoin isn't about charity. It's about paying people for their creativity. I do like this idea, but don't have any concerns that haven't already been mentioned.

You are right, I believe.
Thanks for your support!

solracx

sr. member

Activity: 294

Merit: 250

Quote from: fishy on June 19, 2013, 02:18:20 PM

Quote from: solracx on June 19, 2013, 02:13:40 PM

you can prove to me that money will actually go to charities.

That's the hard part, they're aren't any charities which even know about this.
Since you are an independent entity, you should be the "main" address, the one from which charities receive money.
(Like how devtome is the devcoin "main" entity)
In the beginning, you will distribute the coins but eventually charities will get the client and their addresses can be embedded "inside" the coin so that when it is mined the coins are sent directly.

Obviously the coins will not got directly to a charity... rather you need to convert them into currencies they can spend.

In short, the dev. of this coin needs to be a trusted party.

The addresses that are in the client tend to be static. One would have to allocate address to perhaps to the charities involved.

Perhaps one need go back to the drawing board and figure a way for charities to accept BTC or LTC.

Shmoopy

member

Activity: 71

Merit: 10

Correct me if I'm wrong, but Devcoin isn't about charity. It's about paying people for their creativity. I do like this idea, but don't have any concerns that haven't already been mentioned.

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: edd on June 19, 2013, 02:16:33 PM

What makes you think charities will accept the latest in a extremely long and questionable list of alt-coins when

Its value is zero
They need to understand and download a client they've never heard of
It's taken Bitcoin100 a year and a half to get a handful of charities to accept $1000 in the form of bitcoins

-This one is specifically FOR charities.
-Also, just as we trust charities, charities will trust us.
-Devcoin has value. (sorry for the devcoin fans)
-The client will try to be more streamlined and easy.
(If the charity accountant can understand an online bank account, he or she can surely understand charitycoin!)

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: solracx on June 19, 2013, 02:13:40 PM

you can prove to me that money will actually go to charities.

That's the hard part, they're aren't any charities which even know about this.
Since you are an independent entity, you should be the "main" address, the one from which charities receive money.
(Like how devtome is the devcoin "main" entity)
In the beginning, you will distribute the coins but eventually charities will get the client and their addresses can be embedded "inside" the coin so that when it is mined the coins are sent directly.

edd

donator

Activity: 1414

Merit: 1002

What makes you think charities will accept the latest in a extremely long and questionable list of alt-coins when

Its value is zero
They need to understand and download a client they've never heard of
It's taken Bitcoin100 a year and a half to get a handful of charities to accept $1000 in the form of bitcoins

solracx

sr. member

Activity: 294

Merit: 250

I can donate the source code and explorer to this project (from ZenithCoin) if you can prove to me that money will actually go to charities.

In short, I will provide a new genesis block. All you need is to give me the parameters, like:

Block Rate
Max Number of Coins
Rewards
PoW Algorithm

etc... coin can be built and ready in an hour or so.

email [email protected]

fishy

sr. member

Activity: 476

Merit: 250

What do you call a fish with no eyes? A Fsh!

Quote from: JohnDorien on June 19, 2013, 02:08:11 PM

Sounds like EthiCoin....

What's that?

JohnDorien

sr. member

Activity: 462

Merit: 250

Sounds like EthiCoin....

bittick

hero member

Activity: 2296

Merit: 506

Cryptocasino.com

This project can be great in many ways, but the original post sounds iffy for some reason still...

anderl

hero member

Activity: 714

Merit: 500

Quote from: peonminer on June 19, 2013, 01:45:52 PM

Will this coin demand transparency from each charity it donates to? This is a HUGE decision factor for me.
http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=3277 < Red Cross Charity Transparency Rating among other factors for rating.

Some charities are greed mongers and will stop at nothing to write off million dollar personal expenses as 'working toward the goal of the non-profit' which gives a very far fetched understanding of what 'Non-Profit' really means.

I used to work as a cold caller for a 'non-profit' charity foundation. Actually we were contracted for multiple 'non-profit charities'.

ICOPS- Illinois Counsel of Police - Basically calls you to sell you a sticker for your car window and receives 87% of the collected funds. The remaining 7% goes to a very tight nit group of cops in Illinois.

Same with many others.

I agree each charity should have its own coin network. I understand that hashing power is not at the point that many networks can exist independently like this but miners should vote with their hashing power as to where the funding goes.

jackjack

legendary

Activity: 1176

Merit: 1280

May Bitcoin be touched by his Noodly Appendage

Quote from: fishy on June 19, 2013, 01:38:34 PM

There hasn't been much happenings with Devcoin

Are you kidding? Lying? Stupid?

Topic: [ANN]Concept for Charitycoin! 50% of mining revenue goes to charity. (Read 1080 times)