Just checked out E's foundation & it's awarded about $40M in total over the last 10 years or so to projects in nearly 70 different countries worldwide, the application process is quite formal, not surprisingly & geared towards non-profit organizations only as the foundation is a non-profit, so it would be best to set one of those up before applying & do it properly with the aims of the BTC NPO clearly stated, the benefits of various projects - just one per application I imagine & best to start with one clear & achievable one, the funding required, the time & geographical frame
So suggestions for the first project, it doesn't have to be the most important for BTC but more perhaps of a hook to get the foundation's initial interest & support, they are willing to make bets on visionary or risky projects which certainly sounds like Bitcoin to me
The bad news, new applications for grants are closed atm, I shall keep an eye out for when a new funding window opens (a bit like pirate@40's FPT&S) - this though gives time to set up an official BTC NPO or maybe the developers already have one, or an unofficial one for any particular project that I/the consensus here believe would appeal - so please state your interest in being part of this & what you'd bring to the table, it would have to be official & all legal & stuff so rl IDs needed etc, E's NPO requires verifiable official paperwork - it also prefers 2 years of certified accounts but will accept newly formed ones too, another question would be which country to form it in & I'd imagine the States but would welcome suggestions & obviously any grants awarded would have to be accounted for rigorously in their spending so references may be required to be exchanged amongst everyone involved to make sure of trust & liability for misuse, a bank account would be needed to receive the funds unless E does what happened to my friend here & just says yep, I like it, pop round & see my peeps - there's an envelope waiting for you
The other way to do this is informally & not directly though the foundation, but I think that the formal approach to show serious intent & professionalism is needed, I do know of one person who was helped via a direct approach though that was more charity than the type of funding BTC projects are looking for
I'm going out now to play & dinner after, so will be afk for a few hours & maybe not fully on my game after, but would welcome any suggestions re this, many thanks
Topic: Making a BTC pitch to a billionaire - page 3. (Read 7179 times)
If I knew a billionaire I'd ask him to fund an independent evaluation of Bitcoin. Hire a prominent IT firm to take it completely apart, evaluate it's properties, it's soundness but avoid any economic evaluation, just the functionality. And then have them give it their stamp of approval.
Bitcoin doesn't need big money investment. It needs small money to feel comfortable using it.
Bitcoin doesn't need big money investment. It needs small money to feel comfortable using it.
That and throw some lawyers at it to see what they might have to say.
If I knew a billionaire I'd ask him to fund an independent evaluation of Bitcoin. Hire a prominent IT firm to take it completely apart, evaluate it's properties, it's soundness but avoid any economic evaluation, just the functionality. And then have them give it their stamp of approval.
Bitcoin doesn't need big money investment. It needs small money to feel comfortable using it.
Bitcoin doesn't need big money investment. It needs small money to feel comfortable using it.
No, please make the pitch. If he is a reasonable guy, then a mining monopoly under his control will be a good thing.
Suggest that he set up a benevolent mining monopoly which controls the majority of hashing power, but excludes all other miners. Point out the profitability of this venture as the ability to earn 100% of newly generated bitcoin with just 51% of available hashing power.
I doubt this billionaire would want to become a millionaire for the sake of bitcoin. 51% would require the largest datacenter in the world.
10 terahash is 10 million USD or about 1% of the billionare's net worth. He won't actually need 10 Terahash because many miners will exit once one agent fires up so many rigs. Once he has 51% and is able to prohibit competition, all other miners will exit mining because private mining will no longer generate bitcoin. As a result, he will be able to mine all of the world's bitcion using just a few hundred gigahash. The other 9.5 terahash can be kept offline as a threat to any potential competition. Using just a few hundred gigahash worth of electricity expenditure per month, he will take in a revenue of 216,000 bitcoin per month or about 1 million USD per month. In about one year he will have recovered his initial investment. Certainly, if he is aware of safer investments which also have a 100% per annum expected return then he should pursue them. However it is extremely difficult to find opportunities this good.
hmmm, perhaps I won't after all make this pitch
, many thanks to all those who gave constructive feedback, I shall add some more replies later - I was also just thinking that the BTC 100 charity effort may be a way to go, offer to add Bitcoin charity support via E's foundation to some of E's favorite & sometimes niche charitable ventures if they were to accept them & that would be bound to get E's interest in what Bitcoin was Suggest that he set up a benevolent mining monopoly which controls the majority of hashing power, but excludes all other miners. Point out the profitability of this venture as the ability to earn 100% of newly generated bitcoin with just 51% of available hashing power.
I doubt this billionaire would want to become a millionaire for the sake of bitcoin. 51% would require the largest datacenter in the world.
10 terahash is 10 million USD or about 1% of the billionare's net worth. He won't actually need 10 Terahash because many miners will exit once one agent fires up so many rigs. Once he has 51% and is able to prohibit competition, all other miners will exit mining because private mining will no longer generate bitcoin. As a result, he will be able to mine all of the world's bitcion using just a few hundred gigahash. The other 9.5 terahash can be kept offline as a threat to any potential competition. Using just a few hundred gigahash worth of electricity expenditure per month, he will take in a revenue of 216,000 bitcoin per month or about 1 million USD per month. In about one year he will have recovered his initial investment. Certainly, if he is aware of safer investments which also have a 100% per annum expected return then he should pursue them. However it is extremely difficult to find opportunities this good.
In my opinion it would be best to influence all of those people between you and him to use Bitcoins. People like your friend, his godson, other people who regularly interact with him.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
this makes sense, but E is very hands offs I believe in running things so I doubt that my my friend's son has much if hardly any contact, he's fairly young & isn't the boss of it but I shall ask him & also tell him about Bitcoins, as for my friend I shall do the same but again they move in such different worlds that there is little contact between them - in the past they used to hang out & my best friend really used to know E well, unfortunately they had a terminal falling out so that road is closed, I've been trying to get him (my best friend) interested in coins as I think that the peeps he does business with, international art dealers, would be able to really benefit from it but his reaction to a virtual crypto currency is "& then poof! it's gone" - I told him it's 'the art of money' (Satoshi being the maestro artist who created it) which he liked, unfortunately that was just before the Linode hax so yep he wasn't wrong about how it can just go poof if you're not totally careful in handling it & tech savvy & it even happens to those that are & repeatedly too, though of course anything that isn't sufficiently well secured & looked after can be subject to theft or loss through carelessness so Bitcoin isn't alone in that regard
Forget investors and billionaires.
Someone speak to Mexican and Colombian cartels please.
Someone speak to Mexican and Colombian cartels please.
As Bitcoins is the currency of The Silk Road where those further down the narco food chain hang out & as they are constantly innovating to stay ahead of the curve re bizness & survival then I'm sure that it's on their radar screens, I bet it would cause some jaw dropping losses of coins as Carlos after a line too many accidentally wipes the wallet dat for equivalent of a shipment or 2, the logistical hurdle for them is probably how to move the coins in & out of cash as exchanges tend to want to KYC for such large sums, but then there is the convenience factor as opposed to say moving & storing room fulls of fiat to take in to account on the plus side for them, those lawless Ruskies are at the world number 3 spot for BTC interest I note
a typical room full of fiat
a typical pen drive full of the same amount of coins
exactly & exactly why I made this thread, for input on that & not to troll the Nigerian prince OMG someone may be about to drop $1M on this penny stock BS as ineededausername seemed to think
& also why I hope to move this forward in rl too, initial feedback is disappointing but if I feel it may be worthwhile I do it without any np
& also why I hope to move this forward in rl too, initial feedback is disappointing but if I feel it may be worthwhile I do it without any np
I'm sorry if that was not your intent... but you posted a thread about a billionaire + bitcoin in speculation, so it's easy to read it that way.
apology accepted, I posted in the Speculation thread as it's mostly where I hang out & didn't want to make a big deal of this by posting it on the main Bitcoin forum where I expect it would attract even more pathetic fucktard comments like adamstgBit's
would it be a good idea to try & get a Billionaire interested in Bitcoins at this stage?
I would much appreciate feedback on this & if you think that it would be then how would you suggest I approach this person, who I shall call E, I can pretty much be sure that E will read a brief proposal & maybe links to a more in-depth one, here's some background on E
E is someone I admire greatly, creative, fun, open minded, very very generous with an active philanthropic foundation that supports many varied worthy causes & projects - such as medical research, female empowerment, the arts, animal charities, ecological products & issues, *** to the tune of $*** /year & also has contributed to projects in the arts/women in my local area related of a good friend of mine who I persuaded to contact E's foundation & ask for help with funding what she was doing (my friend's husband was very grateful to me, as in "do you know how much you've just saved me per year?" - it was in the 5 figures)
E lives & works in the US & a couple of countries in the EU mostly & plenty of work too - not just a philanthropist
I am a long time neighbor of E & while not knowing E personally (I have though met & been to one of E's functions) I am good friends with at least one of E's buddies (though they don't hang out together nowadays, though are close - E came to his 50th BD party etc) whose house/s E bought at a good price so he could buy an amazing deal/property nearby & who's son (E's godchild) works full time now for E at an ecological production unit that E started under 5 years ago with an initial investment of some $15M - I organized with my friend's son a private group tour of the facilities & it's impeccable, everyone was very impressed with it
I have also witnessed, by chance, anonymous incredible generosity from this person that probably no one else who even knows E actually knows anything about at all
If E does choose to support something new then generally prefers to do that as a lump sum in to some project rather than as an ongoing commitment, though has contributed regularly to my friend's bi-annual arts/women projects
I obviously have no idea if E will have the slightest interest in Bitcoin or if interested what E may choose to do, E lead quite a rebellious bohemian life when younger so I'm thinking it may appeal & as a very high net worth individual may see personal advantages to it, E uses cash a lot - the donations to my friend's project are in cash (at least the first one was, I haven't asked how subsequent ones were given), on the other hand E may be quite indifferent to it, E may find it of interest that instead of being approached for funding here for once someone may be offering an opportunity to make money whist hopefully doing something that may be of long term benefit to Bitcoin
I shall ask my friend if I can use his name when sending my proposal, I'm sure that it would be fine - in fact even if I didn't ask him it wouldn't be any big deal for him - but as his son now works for E it is only right that I run it by him first
So, feedback, brief initial proposal ideas, deeper linked info, proposals of what E could contribute to Bitcoins if liking the concept wished to see it grow & support it & how E might benefit in various ways by doing so or at least not be out of pocket - or that the good done was worth the expenditure which would be E's main motivation I'm sure
I shall probably take my time with this as I'd like to get it right, it's a one shot deal I imagine, though I can be quite impulsive & just say screw it - let's do it & send it off when I feel that it's hot enough to be worth a crack at & to continue tweaking & faffing around may mean a lost op
this is a dynamic post in that I shall edit it to fill in the bits where I've just left ***s atm & need to look up or check - plus adding to it anything else that comes to mind re this later & correct typos & stuff as I haven't read it back tho even, as other stuff to get in to ~ partying etc.
posting this early stages idea (though I've had it for a while) here in Speculation, if & when it's ready to propose to E then I shall start a post on it in the main Bitcoin forum unless peeps think that it would be better off just continuing here with this initial one
I would much appreciate feedback on this & if you think that it would be then how would you suggest I approach this person, who I shall call E, I can pretty much be sure that E will read a brief proposal & maybe links to a more in-depth one, here's some background on E
E is someone I admire greatly, creative, fun, open minded, very very generous with an active philanthropic foundation that supports many varied worthy causes & projects - such as medical research, female empowerment, the arts, animal charities, ecological products & issues, *** to the tune of $*** /year & also has contributed to projects in the arts/women in my local area related of a good friend of mine who I persuaded to contact E's foundation & ask for help with funding what she was doing (my friend's husband was very grateful to me, as in "do you know how much you've just saved me per year?" - it was in the 5 figures)
E lives & works in the US & a couple of countries in the EU mostly & plenty of work too - not just a philanthropist
I am a long time neighbor of E & while not knowing E personally (I have though met & been to one of E's functions) I am good friends with at least one of E's buddies (though they don't hang out together nowadays, though are close - E came to his 50th BD party etc) whose house/s E bought at a good price so he could buy an amazing deal/property nearby & who's son (E's godchild) works full time now for E at an ecological production unit that E started under 5 years ago with an initial investment of some $15M - I organized with my friend's son a private group tour of the facilities & it's impeccable, everyone was very impressed with it
I have also witnessed, by chance, anonymous incredible generosity from this person that probably no one else who even knows E actually knows anything about at all
If E does choose to support something new then generally prefers to do that as a lump sum in to some project rather than as an ongoing commitment, though has contributed regularly to my friend's bi-annual arts/women projects
I obviously have no idea if E will have the slightest interest in Bitcoin or if interested what E may choose to do, E lead quite a rebellious bohemian life when younger so I'm thinking it may appeal & as a very high net worth individual may see personal advantages to it, E uses cash a lot - the donations to my friend's project are in cash (at least the first one was, I haven't asked how subsequent ones were given), on the other hand E may be quite indifferent to it, E may find it of interest that instead of being approached for funding here for once someone may be offering an opportunity to make money whist hopefully doing something that may be of long term benefit to Bitcoin
I shall ask my friend if I can use his name when sending my proposal, I'm sure that it would be fine - in fact even if I didn't ask him it wouldn't be any big deal for him - but as his son now works for E it is only right that I run it by him first
So, feedback, brief initial proposal ideas, deeper linked info, proposals of what E could contribute to Bitcoins if liking the concept wished to see it grow & support it & how E might benefit in various ways by doing so or at least not be out of pocket - or that the good done was worth the expenditure which would be E's main motivation I'm sure
I shall probably take my time with this as I'd like to get it right, it's a one shot deal I imagine, though I can be quite impulsive & just say screw it - let's do it & send it off when I feel that it's hot enough to be worth a crack at & to continue tweaking & faffing around may mean a lost op
this is a dynamic post in that I shall edit it to fill in the bits where I've just left ***s atm & need to look up or check - plus adding to it anything else that comes to mind re this later & correct typos & stuff as I haven't read it back tho even, as other stuff to get in to ~ partying etc.
posting this early stages idea (though I've had it for a while) here in Speculation, if & when it's ready to propose to E then I shall start a post on it in the main Bitcoin forum unless peeps think that it would be better off just continuing here with this initial one
You want billionaire E to support a cyrptocurrency that is in direct competition to the fiat currency that makes this billionaire a billionaire with its inflation practices that keeps securities such as stocks moving up.
The only way you can get the billionaire to buy some bitcoins is to scare them into thinking that it is only a matter of time before hyperinflation impacts USD and EUR and bitcoins would be a good hedge. You have to get them off of gold. If they are a billionaire then they have the ability to buy large sums of gold close to spot market price. Maybe use the history of gold and silver confiscation to keep E away from precious metals.
Maybe E could fund a "Bitcoin Foundation" which would advertise/advocate Bitcoin and provide legal help for people regarding Bitcoins.
Sort of like the EFF.
Sort of like the EFF.
Suggest that he set up a benevolent mining monopoly which controls the majority of hashing power, but excludes all other miners. Point out the profitability of this venture as the ability to earn 100% of newly generated bitcoin with just 51% of available hashing power.
I doubt this billionaire would want to become a millionaire for the sake of bitcoin. 51% would require the largest datacenter in the world.
Suggest that he set up a benevolent mining monopoly which controls the majority of hashing power, but excludes all other miners. Point out the profitability of this venture as the ability to earn 100% of newly generated bitcoin with just 51% of available hashing power.
In my opinion it would be best to influence all of those people between you and him to use Bitcoins. People like your friend, his godson, other people who regularly interact with him.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
+1
Surround him with it so it's not the first time he's heard of it when you suggest it.
Fuck the billionairas
that is all.
that is all.
In my opinion it would be best to influence all of those people between you and him to use Bitcoins. People like your friend, his godson, other people who regularly interact with him.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
Go for the most likely users, maybe e-mail them a few Bitcoins to spend as a birthday gift.
exactly & exactly why I made this thread, for input on that & not to troll the Nigerian prince OMG someone may be about to drop $1M on this penny stock BS as ineededausername seemed to think
& also why I hope to move this forward in rl too, initial feedback is disappointing but if I feel it may be worthwhile I do it without any np
& also why I hope to move this forward in rl too, initial feedback is disappointing but if I feel it may be worthwhile I do it without any np
I'm sorry if that was not your intent... but you posted a thread about a billionaire + bitcoin in speculation, so it's easy to read it that way.
Here's the pitch I would make to a billionaire, since I happen to have been thinking about this for a little while --
Peg Bitcoin to a basket of physical commodities.
Just as an experiment. Bitcoin has the potential to be the first digital currency that is pegged (by the market even) to a small handful of physical elements. All it needs is a little push in the right direction by someone with the means and motivation to do so.
Unfortunately I don't know what the consequence (including benefit) of this would be. I couldn't really say how to monetize this idea. I can see how it might be profitable. It could qualify as philanthropy. Or it could just end up being a really novel failure. Regardless, someone should do it.
I mean, if I were a billionaire, I would throw a million dollars at fun ideas like this just to see what happens. Of course, that's probably one reason I'm not a billionaire...
Peg Bitcoin to a basket of physical commodities.
Just as an experiment. Bitcoin has the potential to be the first digital currency that is pegged (by the market even) to a small handful of physical elements. All it needs is a little push in the right direction by someone with the means and motivation to do so.
Unfortunately I don't know what the consequence (including benefit) of this would be. I couldn't really say how to monetize this idea. I can see how it might be profitable. It could qualify as philanthropy. Or it could just end up being a really novel failure. Regardless, someone should do it.
I mean, if I were a billionaire, I would throw a million dollars at fun ideas like this just to see what happens. Of course, that's probably one reason I'm not a billionaire...
Forget investors and billionaires.
Someone speak to Mexican and Colombian cartels please.
Someone speak to Mexican and Colombian cartels please.
E by gum E's a goodun'
E's are good, Ebanezar's good, m.m.move any mountain
E's are good, Ebanezar's good, m.m.move any mountain
Jump to: