Yeah, give it to Cklovias.
Or buy him a gold plated keyboard. For the low resistance to programing.
LOL Or buy him a gold plated keyboard. For the low resistance to programing.
Topic: BFL creates new charity project to donate 1000 BTC to [ROFL!] - page 4. (Read 8555 times)
Yeah, give it to Cklovias.
Or buy him a gold plated keyboard. For the low resistance to programing.
Or buy him a gold plated keyboard. For the low resistance to programing.
Just an FYI I did indeed get 10BTC donated to me about an hour ago.
http://www.youtube.com/watch?v=E2uh5xTCragNow both you and Luke seem rather douchey, IMHO.
Do the right thing and pass it forward. Show BFL what a real charitable donation looks like.
Just an FYI I did indeed get 10BTC donated to me about an hour ago.
Since when does a piece of paper from the government determine whether or not something is charity or not? Most 503-C organizations are churches. One of the biggest scams of all history!
Fuck government registration. Judge them by what the money actually goes toward, not their tax exempt status...
Fuck government registration. Judge them by what the money actually goes toward, not their tax exempt status...
If you read my second post, I did exactly that.
How many have orders now? 3 I wish they were shipping, not true until it's in my hand. Do you have one in your hand? No. So you are spreading garbage.
They are shipping now and plenty of customers have made posts stating they've received their orders. In order for your statement to be true about BFL not shipping until you have a device in your hand, then you'd have to be the only person who has placed an order with BFL.
BFL claim to be assembling and shipping August's pre-orders as we speak. That's a fact. You ignoring reality and making stupid posts is simply delusion.
How many have orders now? 3 I wish they were shipping, not true until it's in my hand. Do you have one in your hand? No. So you are spreading garbage.
They are making all that money back in preorders which will never ship. It's not free.
They're now shipping August's pre-orders, so you may want to update that nonsense and come up with a new line of garbage to spew.
They are making all that money back in preorders which will never ship. It's not free.
It's going to their ego and publicity.
Since when does a piece of paper from the government determine whether or not something is charity or not? Most 503-C organizations are churches. One of the biggest scams of all history!
Fuck government registration. Judge them by what the money actually goes toward, not their tax exempt status...
Fuck government registration. Judge them by what the money actually goes toward, not their tax exempt status...
Yes, and I commend that donation--even though I don't think Sean's Outpost is an actual 501(c)(3), they're doing good work. The EFF is also a legit donation. Donations to cgminer and BFGminer are very questionable and have conflict of interest written all over them. So I will give them credit for 126 BTC (12.6%) of their agreement. Since they "wasted" 100 BTC, I believe they will never fulfill their 1000BTC agreement.
My point was that since they are not an actual charity, there is no oversight, and BFL still "owns" nearly 800 BTC of the initial "endowment." We will see where that goes, and how long it takes to get there.
I am just glad they had $120,000 worth of BTC.
Yes, and I commend that donation--even though I don't think Sean's Outpost is an actual 501(c)(3), they're doing good work. The EFF is also a legit donation. Donations to cgminer and BFGminer are very questionable and have conflict of interest written all over them. So I will give them credit for 126 BTC (12.6%) of their agreement. Since they "wasted" 100 BTC, I believe they will never fulfill their 1000BTC agreement.
My point was that since they are not an actual charity, there is no oversight, and BFL still "owns" nearly 800 BTC of the initial "endowment." We will see where that goes, and how long it takes to get there.
This thread is hilarious. BFL did as agreed. You don't like how they did it? Go cry me a river. If you wanted the 1000 BTC bet to apply to a SPECIFIC charity, it should have been described as such in the original bet. Only an idiot would agree to a non-specific bet and then complain about the results.
Did as agreed? Absolutely not. The agreement was to "donate to charity," not to start some pseudo-charity fund that is not even a real charity. FAIL.
The organization they have set up seems to only deal in BTC, and therefore could operate completely unregulated--it's not a true "charity" or 501(c)(3) non-profit. It's just made-up.
The IRS has no record of a "Bitcoin Development Fund" as a tax-exempt organization (or even anything with "bitcoin" in the name). I seriously doubt they have actually created a charity, but rather a website that claims to be a "charity," and is in reality just a project by BFL. Until I see evidence that they are truly a 501(c)(3) organization, this is totally bogus. BFL itself calls it a "project," with a web site, and not a charity. I assume that means it's entirely administered by BFL. They can literally pay whomever they want without any scrutiny by any government or other organization, or even anyone outside BFL. How is that a charity?
Now, if this "project" donates to actual tax-exempt charities, that would qualify in my mind towards the 1000 BTC donation promise. But until such time as they have donated 1000 BTC of their own profit, this "promise" is not fulfilled.
Shame on you, BFL, for such a horrible effort. The proper way to do this would have been to set up a true 501(c)(3) (preferably managed by person(s) outside of BFL), and then used Bitpay (or whatever) to donate the USD equivalent to the new organization. It needs its own EID and tax-exempt status for donations from others. It would only be able to donate to other 501(c)(3) charities, or do actual charitable work. They could have immediately satisfied the 1000BTC promise by doing that, but instead created this "pseudo-charity" under the BFL umbrella. Of course, their way lets them control (e.g. hold) the vast majority of that 1000 BTC for as long as they want.
The IRS has no record of a "Bitcoin Development Fund" as a tax-exempt organization (or even anything with "bitcoin" in the name). I seriously doubt they have actually created a charity, but rather a website that claims to be a "charity," and is in reality just a project by BFL. Until I see evidence that they are truly a 501(c)(3) organization, this is totally bogus. BFL itself calls it a "project," with a web site, and not a charity. I assume that means it's entirely administered by BFL. They can literally pay whomever they want without any scrutiny by any government or other organization, or even anyone outside BFL. How is that a charity?
Now, if this "project" donates to actual tax-exempt charities, that would qualify in my mind towards the 1000 BTC donation promise. But until such time as they have donated 1000 BTC of their own profit, this "promise" is not fulfilled.
Shame on you, BFL, for such a horrible effort. The proper way to do this would have been to set up a true 501(c)(3) (preferably managed by person(s) outside of BFL), and then used Bitpay (or whatever) to donate the USD equivalent to the new organization. It needs its own EID and tax-exempt status for donations from others. It would only be able to donate to other 501(c)(3) charities, or do actual charitable work. They could have immediately satisfied the 1000BTC promise by doing that, but instead created this "pseudo-charity" under the BFL umbrella. Of course, their way lets them control (e.g. hold) the vast majority of that 1000 BTC for as long as they want.
Butterfly Labs / Bitcoin Development Fund just bought 7300 meals for the homeless
This thread is hilarious. BFL did as agreed. You don't like how they did it? Go cry me a river. If you wanted the 1000 BTC bet to apply to a SPECIFIC charity, it should have been described as such in the original bet. Only an idiot would agree to a non-specific bet and then complain about the results.
The organization they have set up seems to only deal in BTC, and therefore could operate completely unregulated--it's not a true "charity" or 501(c)(3) non-profit. It's just made-up.
The IRS has no record of a "Bitcoin Development Fund" as a tax-exempt organization (or even anything with "bitcoin" in the name). I seriously doubt they have actually created a charity, but rather a website that claims to be a "charity," and is in reality just a project by BFL. Until I see evidence that they are truly a 501(c)(3) organization, this is totally bogus. BFL itself calls it a "project," with a web site, and not a charity. I assume that means it's entirely administered by BFL. They can literally pay whomever they want without any scrutiny by any government or other organization, or even anyone outside BFL. How is that a charity?
Now, if this "project" donates to actual tax-exempt charities, that would qualify in my mind towards the 1000 BTC donation promise. But until such time as they have donated 1000 BTC of their own profit, this "promise" is not fulfilled.
Shame on you, BFL, for such a horrible effort. The proper way to do this would have been to set up a true 501(c)(3) (preferably managed by person(s) outside of BFL), and then used Bitpay (or whatever) to donate the USD equivalent to the new organization. It needs its own EID and tax-exempt status for donations from others. It would only be able to donate to other 501(c)(3) charities, or do actual charitable work. They could have immediately satisfied the 1000BTC promise by doing that, but instead created this "pseudo-charity" under the BFL umbrella. Of course, their way lets them control (e.g. hold) the vast majority of that 1000 BTC for as long as they want.
The IRS has no record of a "Bitcoin Development Fund" as a tax-exempt organization (or even anything with "bitcoin" in the name). I seriously doubt they have actually created a charity, but rather a website that claims to be a "charity," and is in reality just a project by BFL. Until I see evidence that they are truly a 501(c)(3) organization, this is totally bogus. BFL itself calls it a "project," with a web site, and not a charity. I assume that means it's entirely administered by BFL. They can literally pay whomever they want without any scrutiny by any government or other organization, or even anyone outside BFL. How is that a charity?
Now, if this "project" donates to actual tax-exempt charities, that would qualify in my mind towards the 1000 BTC donation promise. But until such time as they have donated 1000 BTC of their own profit, this "promise" is not fulfilled.
Shame on you, BFL, for such a horrible effort. The proper way to do this would have been to set up a true 501(c)(3) (preferably managed by person(s) outside of BFL), and then used Bitpay (or whatever) to donate the USD equivalent to the new organization. It needs its own EID and tax-exempt status for donations from others. It would only be able to donate to other 501(c)(3) charities, or do actual charitable work. They could have immediately satisfied the 1000BTC promise by doing that, but instead created this "pseudo-charity" under the BFL umbrella. Of course, their way lets them control (e.g. hold) the vast majority of that 1000 BTC for as long as they want.
butterflylabs Cheater
The way they do it is shady and to benefit themselves. They do it through their foundation and for press.
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