Topic: Bitcoin 100: Developed Specifically for Non-Profits - page 53. (Read 262769 times)

I don't think we have any restrictions on who is qualified as long as they are a legit charity.

I would like to nominate the hospital where I work as a donation candidate.

I work at Methodist Hospital of Chicago (http://www.methodistchicago.org/), a non-profit hospital funded entirely by public aid.  Unfortunately, because the hospital is funded this way, it is perpetually lacking the funds to truly provide the care that patients deserve.

I was told today that the hospital has a "Good Samaritan Fund" which directly benefits hospital patients.  For example, many of our patients are homeless and arrive at the hospital without any winter clothing.  The Good Samaritan Fund can be used to provide these patients with winter coats, shoes, and gloves, and in some cases these items become the patients' most valuable possessions.

What do you guys say?  I have an upcoming meeting on Thursday with one of the hospital's financial directors to discuss how this could be arranged if approved by, well, all of you.

So... what now?

FYI, we have BTC32.08047496 more ready to contribute at this point

Thanks for the kind words, Ente. Wait till you see what I'm planning on releasing at Bitcoin2013: The Futures of Payment.

~Bruno K~

This is big, exciting news!
All of us are excited about Bitcoin, but not that many are dedicated to bring it forward.
These long-term plans surely are still in an early stage - but I am already totally convinced that it will be a big success, and one of the bigger puzzlepieces to Bitcoin's successfull future!

I was excited on new year's eve 2011/2012. I still am excited. But this time, you can watch a lot of stuff being done! Bitcoin gained a lot of traction, coverage, professionalism, structure. I can almost feel the tension! And Bruno, Bitcoin100, is exactly the kind of progress I am talking about!

Chapeau, my friend!

Ente

Nice effort, but my attempt to show the same is better. (insert smiley patting his back here)




And once again, thank you, edd, for your very kind donation. The list has been updated.

UPDATE:

Rassah has sent half (BTC50) to My Refuge house as seen in this transaction: http://blockchain.info/tx/2219e67225ad58edc0f8f4b29a50f6c5dccf4aed5e6045e31ee5ed62e0710180

Please bear in mind that the address the coins were sent to may be a one-off address generated by BitPay. At the moment, I'm not aware of any personal Bitcon address they may have dedicated for donations. That fact will be brought to light shortly, I'll assume.

The reason only half was sent is so that I can hold it hostage, not from them, but for the sole purpose of using it as talking points to solicit the shortfall needed to honor the entire BTC100 pledge we've made to them. Seth even suggested via a PM to me that if we did such, MRH would have a sense as to how the entire process works. He's even commented that more NPOs may manifest themselves once MRH is fully funded.

Currently, we're now about a dozen coins short.

I still owe the general pool BTC6. This was not a loan, but a promised sum to make up the shortfall when we funded Bund last month.

Once again, I wish to thank Seth and Rassah for all their efforts in regards to this current project, with a special thanks to those responsible at BitPay for helping My Refuge House configure their website so neatly and in a timely fashion.

~Bruno K~

What I realy like about theit hompage are the differnt buttons:



and



both original size from their homepage.

Very Nice!

Just sent my five BTC: 668061846134ee11d329038e12d2cb4735e8d73b6dfbc02ae271fa588f170db5

Thank you, psy. I've updated the list in the OP and soon Rassah will adjust his ledger.

We are still shy, thus needing a few more donations for MY Refuge House.

At least take a look at the page I linked to and see how easy BitPay has made it for NPOs to donate for all those who've implemented a Bitcoin donation option onto their websites. Smooth!

~Bruno K~

BTC.pt just sent 1 BTC: f7c1e4dd29d748d0dd9e493f02b66a8847eede56ad5984c8c2b1b786667c2831

My humorous remark was in reference to something I guess I misinterpreted/misread/misremembered. Upon hunting that something you penned in this thread last year, the closest post I found doesn't now ring true, therefore ignore my rambling.

Now onto addressing giszmo's post: (scroll up a couple posts to view it in proper context)


Bund was the third NPO and the only one that received $1,300 USD. The first two were GBSI and kenija2012, both receiving less than that amount due to the exchange rate at the time.

You are correct that it would not be prudent for Bitcoin 100 to give BUND Munich, BUND Hannover or BUND Köln the same consideration.

$1,300 USD could possibly be put to better use short term, but drawing a correlation between this and CoinLab overpaying for a goat with their current donation model, both of our entities needed to start somewhere while Bitcoin is still at its nascent stage of development while building mind share.

That said, let's consider it a win at 10 NPOs using the current structure, and maxing the subsequent donations at $1,000 USD, unless some NPO currently being courted comes forward, then the entire BTC100 will be honored. With this schedule, at the end of funding the finale NPO, the balance at Bitcoin 100 will be zero (0), albeit micro fund drives will still be needed as the remaining NPOs manifest themselves.

By no means will Bitcoin 100's work would have been done in vain, for its achievements will be used to jump-start a newly named entity, one of which will be registered as a 501c(3). The main reason for a name change is that incorporating the word Bitcoin into the name of an entity designed purposely as a charitable organization seems counter-productive. We don't see a PayPal Charity, Dollar Charity, Dwollar Charity, etc., but if we did, such entities wouldn't pass the smell test in the real world, although they may do okay as micro-niches. As it stands now, Bitcoin 100 falls into said category, and a grander charitable organization to further the Bitcoin ideal is warranted.

At 53 (minus 60+ days), I'm dedicating the rest of my life toward such a endeavor. At 10,000 posts (minus 97), it's time to get down to business regarding Bitcoin. That said, I'm going to PM a select few to get their opinions on a name I have in mind, starting with Josh at BFL. I would trust that done of them would register the valuable (I believe) domain name during the opinion seeking stage. The following are names I will be sending a PM to, with the possibility of a few others:

Josh at BFL
Rassah
Roger Ver
Tony at BitPay
Edd
Theymos and some of his Motley Crew mods.  
Yankee
Those at The Bitcoin Foundation

(heck with the list, for you get the idea, and I'll use the Bitcoin 100 list of members for further consideration)

To be clear, nothing is currently changing at Bitcoin 100, and the continuing support is still needed. In essence, we would only be looking at a name change and, more importantly, how this viable charitable organization will better humanity through the use of Bitcoin.

~Bruno K~

I deal with tens of millions of dollars every day at my job, and sign off on checks for hundreds of  thousands of dollars, so it's all just numbers to me at this point.

Thank you kindly, BTCurious for your contribution to My Refuge House. Unless we reach the BTC100 soon, consider the entire donation going toward said cause. Rassah will know how to handle the transaction.


I will be out of pocket for about 3-4 hours, but afterward (by early this evening) I will address giszmo's concern fully. Some of his points are valid, while another or two need correcting. Reading between the lines, though, and hoping I read his reply correctly, the entire post has merit.

~Bruno K~

I've sent 3 Bitcoins, you can use all 3 of them for 1 charity if people don't respond, I don't mind either way. I'll send more whenever I get a PM

Oh, well, sort of. I just don't quite agree with it. I would prefer to see a rather short term goal at which point you, Rassah and all the BTC100 can call it a win and focus on other projects. I consider BTC100 slightly inefficient for all the money spent. I mean I also spent 1BTC towards BUND Berlin but BUND Berlin as the 5th(?) organization to receive $1300? I mean with that amount of money you could do a lot more good for BTC and I would be sad seeing the same amount of money goingt to BUND Munich, BUND Hannover, BUND Köln, etc. We should focus on more valuable multipliers. In this class off NPOs there is literally millions of organizations in the world.

Yes! But only ending it as the way it's currently structured, oppose to shutting down Bitcoin 100 completely. In fact, the name--Bitcoin 100--wouldn't do a 2.0 version justice, for I don't envision settling for some big fish. I want 'em all! And, by no means does that entail a desire to donate BTC100, or some other arbitrary sum, to every NPO on the planet, albeit that would be a noble undertaking, to say the least.

Considering, for all practical purposes, most NPOs accept PayPal, CC, cash, etc., it's not outside the realm of possibility that those same entities can just as easily embed a specifically designed Bitcoin donation button unto their respective websites once Bitcoin becomes more mainstream. They did it for PayPal, but to do the same for Bitcoin would he a hell of lot easier. During the interim, then continuously thereafter, an entity--formally known as Bitcoin 100--will be the driving force that ensures ALL NPOs the following: able to collect bitcoins as donations from anybody around the world and without banks; someway/somehow able to transfer bitcoins to fiat with nary spending a satoshi on fees, if opting to not spend them directly to make needed purchases via online stores accepting Bitcoin; no need to go through a rigorous application process for acceptance; ever be concerned about chargebacks; among other aspects, some of which not yet dreamt up.

Tentatively speaking, an immediate goal would be to get ten NPOs under our belt utilizing the current model, thus having a track record, of sorts, enabling us to springboard up to the next level. Amassing donations from this community only works for the way the organization is currently structured, but a more lofty enterprise will demand sourcing funding via other avenues.

No matter what lies ahead, and under whatever name, 100% accountability and transparency will always be enforced. Also, although I may be the founder, I'm keenly aware that I would not be of CEO caliber as we move forward, but I do have an individual in mind, one whose not ever a Bitcoiner, believing that's not a prerequisite to perform said duty. Ideally, I would love to retain Rassah as the CFO, earning a salary further down the road.

Speaking of salary: We've all seen, heard, or read, horror stories of how CEOs of major NPOs receive huge salaries, some while their organization of which they oversee maintain a low efficiency rating, or worse, are constantly in the red. I propose a salary base for any person working in the capacity of Bitcoin 100 (or some other name) to be of US minimum wage, not exceeding $20K USD/yr (probably plus minimum expenses). And if that individual puts in ten years of service, they would receive their last salary amount for life (sans expenses) if they chose to leave the organization. But that's all tentative.

The bottom line is no matter what salary or other expenses will be in the future, this soon to be 501c3 NPO will have the highest efficiency rating, topping all charts readily available within a couple years, and will be the NPO that all others not only look up to, but musing to beat.

That said, who has a extra million dollars lying around and willing to donate to the cause? Or, who has a plan to get a million people to donate one dollar, ten million to donate a dime, or a billion to donate a satoshi? Either option works. BTW, I have a plan. The only problem I foresee is that it will scare the fuck out of Rassah when so much money starts showing up on the books.

Did I address your concern, giszmo?  

~Bruno K~

Shouldn't there be a target to get Bitcoin 100 to an end? I mean the way it is handled now, you end up holding more and more coins that are not free to be given to the next charity. Wouldn't it make sense to target for bigger than those before charities with some promise to call B100 a success once the red cross/whatever accepts bitcoin and leave it to that returning the remaining funds?

An important question was ask of me via PM, and felt that posting the reply here was warranted. The author's name has been redacted.

..........................


Name Redacted

Thank you for taking the time to present to me your concern in regard to the PM I sent you while conducting in the capacity of Bitcoin 100.

Because how Bitcoin 100 is currently structured, prospective non-profits (NPOs) are promised BTC100 iff they incorporate a Bitcoin donation option onto their respective websites. Designed somewhat akin to to [sic] a kickstarter-type program, coupled with our endeavor to bring more awareness to Bitcoin. As a nascent organisation, Bitcoin 100 is limited by the amount of donations we have on hand, thereby sometimes reverting to impromptu fund drives to make up the difference, recently using this option to garner the balance needed at the time for Bund.

Granted, we do have more than BTC100 currently on hand to immediately transfer the promised amount, but that would mean dipping into funds donated by individuals to be dispersed in a rigorous manner. For example, Roger Ver has kindly donated BTC100 to be doled out BTC10 per charitable organization. Exactly the same is true with Zhou Tong's donation. It would be unfair to counter how they both expect their donations to be allocated.

I hope the above addresses your question, and look forward to having the opportunity to readdress any future concerns on your part.

In the spirit of full transparency, I will be posting this reply in the main Bitcoin 100 thread, sans your identity.

Regards,

Bruno

Your post has merit, albeit my remark was for humorous purposes only. Thanks again, Bear.

~Bruno K~

I think we should get everybody used to mBTC, then later moving to satoshis will be easier.