Topic: Major Project set to test bitcoins true strengths on Sovereign Tribal Nation - page 2. (Read 8101 times)

This is a good point - a few pieces of inexpensive hardware will let everyone learn, while you are not worried about ROI.

Your project sounds interesting on its surface. But I'd need a lot more info before donating or investing.

Maybe I've missed it, but I don't recall you posting anything about discussions you've had with your tribal governing body. I would think that buy-in from that organization would be indispensable in getting BTC accepted as the national currency.

What can you tell us about such discussions?

Overall, the project is a great idea.

Regarding the mining. Consider that if you spend 25 BTC on mining equipment now, it is unclear if it will ever mine 25 BTC. You don't need expensive equipment to experience the mining process. A Block Erupter will give you the same understanding as a Neptune.

The beauty of Bitcoin is that it takes only a small investment to get started using it. Once people are comfortable using it, they will find ways to make use of it.

Video or it didn't happen

Good idea, interview some local merchants that are into the idea

I don't mean to sound rude, but are you sure you are not in danger of pushing your own interests onto the community, rather than focussing on the community needs? I was more trying to point out that something like an exchange or broker framework allows for a much wider spread of interest groups.

Every time you mention mining you make us cringe
Why start with a guaranteed loss?

well true that the mining aspect may be less profitable then buying from a exchange...but this isn't meant to solely be a profit venture. I feel the mining aspect needs to be there to be fully comprehensive. but exchange buying will be covered in the Financial part of the project...already in talks with Oglala Lakota College here to look into a course on Crypto Algorithms,  Dynamic Cryptography, etc.

Really- they are the same thing.

I completely agree, not only would this type of business be potentially much much more lucrative, it actually can teach a wide range of transferable skills. Web development, finance, law, risk, customer support, sales and marketing. All of those skills would be extremely useful to enrich such a community. Surely this is the way to go rather than trying to teach the nuts and bolts of ASIC mining? This would engage people with many different interests.

Indeed they do. Please carefully evaluate the economic tradeoff of buying BTC directly vs mining them. There is a VERY high likelihood that the former is a better decision.
I'm not going to try to convince you further. The evidence is there if you choose to pay attention.

Maxwing...while yes Mining is a first step in this project is is only one aspect...and designed to be more of a hands on study element for it. Mining IS a fact of this industry so it's important that we look at how bitcoins are generated. It also goes towards Algo research, mining unit design, chipset design, and other parts of that element. the bitcoins generated go towards teaching how the exchanges work and how to trade on them. I think alot of people are seeing this as just a mining project, it's not...it's a fully comprehensive plan where we generate the coins locally, exchange them locally and use them locally. But they have to come from somewhere. 

Bitcoin Oyate Project in Forbes  http://www.forbes.com/sites/jasperhamill/2013/12/19/native-american-activist-wants-to-swap-the-dollar-for-bitcoin/

the 2 most important and highest bang for the buck projects they could do in order of most importance would be:

1.  a Bitcoin exchange.
2.  a Bitcoin bank.

Maxwing, I agree--mining is not something that is in their favor.  Nonetheless, as one who is ignorant of much (but learning as fast as I can) I think the intrinsic idea has merit.  Their plea for help has the ring of truth (IMHO) and I think they would be open to help and redirection, both in development and implementation of a plan.

I would think that creating a safe zone for exchanges and maybe even their own, would be a place to to start.  Based on the interview I heard with Coinbase's founder I would think they should at least open an office (embassy;-)) there, and even employ some locals and train them. Political as well as geographic diversity should be pursued.

The concept of using Bitcoin for a small quasi-sovereign state is an excellent one, but I had to sigh with disappointment when I saw that the fundamental plan was to implement mining.

This not only misses the real point, but continues to cement in people's heads the idea that they cannot use Bitcoin unless they can mine it.

Mining bitcoin has become an extremely difficult, capital intensive and sophisticated business. Don't get into it unless you consider yourself already expert in some key aspect of it, like electrical engineering, or have some very good connections and strong background in a related trade/business.

The great idea here is that a somewhat autonomous community can use Bitcoin as a currency without interference from those who print money to everyone else's detriment. The fund that you're intending to use to buy mining equipment, but BTC instead, and set up some kind of organization to help people trade in and out of USD-BTC. Maybe it isn't practical right now, but it's at least an idea worth pursuing.

As a newbie, I have been lurking around here for a while, but am still hesitant to jump into the fray.  I do not pretend to know much about Bitcoin, but it seems that the biggest threat to the success of BC is opposition from nation-states and central banksters.  While it seems the underlying tech can survive their attacks, one is wise to never underestimate their enemy.  

I had to laugh when I read a post by someone who said "Bitcoin is bigger than China." Implying that China could not stop the infiltration of BC or slow its growth. In an ultimate sense that may be true, but it misses the point and does not address the problem.

It can be demonstrated that when push comes to shove, and survival is on the line, few if any states are unwilling to violate their own laws. Central banks survive despite their parasitic nature because they have made the survival of of governments (not states) dependent on their existence.

Here is a sovereign (albeit conquered) nation that is looking to BC and its community for help.  It seems to me that there is tremendous potential for a symbiotic relationship. Servers set up on tribal land could be of great service to the BC community.  Ultimately the Feds may decide to step in and attack them, but this would be a PR nightmare for them.

I do not know enough about the specifics of either the tribal treaties, or Bitcoin to make specific recommendations. However, I hope that those who do will recognize the potential here and step up to the plate.

I suspect there's gold Bitcoin in them thar hills!

Damn boy, we doubted you

Is this you?

http://www.forbes.com/sites/jasperhamill/2013/12/19/native-american-activist-wants-to-swap-the-dollar-for-bitcoin/

If so, damn fine work.

Yeah. We need some fearless warriors for the Bitcoin network.