Bitcoin Forum

https://forums.butterflylabs.com/content/134-butterfly-labs-donates-1000-btc-charity-bitcoin-related-projects.html

Nice. Create your own charity project and then donate 1000 BTC to yourself because you still control the money supply or "honey pot". :P

BFL is seriously dirty players.

Un-believeable!

What nonsense! Their limits know no bounds! I think they are planning their exit strategy anybody agree?
Hand the money from right to the left hand...

Really ? I'm not in the least bit surprised

yep!

I guess they moved funds there, hoping they won't be confiscated.

Laughable.

Lol

we talked about a charity

 ::)

If you shake hands with somebody from BFL, I recommend to count your fingers afterwards!

OK... This should do it for a scammer tag.

Euh, What's wrong with that? If you look at the website they created they are donating to projects, effectively spending the amount.
Ok, they aren't sending 1000 BTC to a traditional charity, but they are still giving it away...

...the human fund

They are donating to the EFF (which won't take it), their own paid shill and contractor (luke-jr/BFGminer) and another paid shill and contractor (CGminer/ckolivas/Kano)

Honestly, neither am I.

It was expected and even joked about that they might do this....then they did.

Celebrities and Companies (scummy ones) do it all the time.

It is a trick to remove taxes, a good PR stunt and most importantly...you dont' actually donate to anyone. Is BFL doing this for those reasons, I don't know.

Donation as a form of self propelling ones buisness is not a donation. (in my book)

Coca Cola might "donate" to a supplier that then mines a mineral that goes into their [own] products and reduces cost to their bottom line.

Is it a real donation?

If they fund projects "omni-directionally" that deal with BitCoin (and not their specific products), then yes, they would passably be donating.

Yeah fuck you too.
... and no I didn't get any so fuck you again :)

Oh smart, they could very well say the free machines they "donated" to Kano are indeed producing coins for his benefit. LOL

---------------

I just thought of something for you to use Sonny/Josh/Et al.

You don't even need to donate 1000BTC. Just claim that Kano's 1 jally will eventually produce 1000 coins over it's life (30 some odd years). This way you don't actually have to produce 1000 BTC.

Sounds good? :D ;)

Though it seems a little "off" I wouldn't bet EFF wouldn't take it. It's also a great organization. The other two seems just like ways to pay contractors with 'gift money' which is a little shady.

Yeah, I found that a little strange also. They should have at least sent it to you. It was you writing the drivers wasn't it?

EFF has always been "Can't you just leave us alone with your coin thingies? Pretty please? I mean really why do we have to go through that whole spiel every other month?" up till now.

+1,000,000

It wasn't the bulk chips that broke the camel's back, that just confirmed they are financially insecure in delivering on promises.

This however is clearly fraud.

Loosing a bet and agreeing to donate to charity is just that, giving the entire monies to a worthy organisation that will use it responsibly.

Not creating your own charity, and especially not when the entire point you lost was in acknowledgment of your inabilities to handle your own responsibility and deliver paid for products on time to a pre agreed and promised spec assured your irresponsibility.

And especially not after the bull$**t subsequent.

I was willing to give BFL the benefit of the doubt, but this speaks volumes.

Not impressed at all!

Ok, Yes, That sounds a bit shady. Don't know if they are trying to get away without paying the 1000 BTC or not, but it's true that it is definitely in the gray zone. I would like to see an open source project unaffiliated to BFL on that list.

Not that I'm advocating for BFL but..

Lots of rich people do exactly that, basically give money to themselves, but a separate tax entity. All of which is perfectly legal.

Bill Gates created the Bill and Melinda Gates foundation, which he and his wife controlled, and then donated Micro$oft money to it. Essentially, he donated the money to himself, so he still has a say in where the money goes.

Did you really thing Bill Gates was going to give money to anybody but himself?

So did Guggenheim, Carnegie and many others.

It's standard operating procedure in corporate America. It's always a shady, but perfectly legal.

yeah but half of these aren't charities at all..  I have no doubt that BFL will bolt before next April to avoid dealing with an impossible tax filing

http://t1.gstatic.com/images?q=tbn:ANd9GcQZEU2CL4foF309uPgHbEBGwJmxDD4Xaih9qgzy3Px_UKqKX7Nj


Theymos is a shill and a scammer if you dont get it yet. Nothing will happen.

Whose money was donated? Investors or BFL's?

They're just pissing on us without even giving us the courtesy of calling it rain.

Probably money that was mined with prototype equipment funded by preorders, which have not shipped yet.

Yeah, it sucks.

I already know that. That is one of the references I was thinking of when typing out the above posts.

rofl, i'm dying here laughing

They donate the 1000 BTC to themselves.

Then they pay their developers and call it charity?

Luke -jr gets $6,000 and they are calling that a fulfillment of their not meeting power specs (by a factor of what again?)

hahaha

Too much.

But one assumes those people to be of moral standing, we can see that this particular case, Butterfly Labs is now not!

They've lost a bet, promised to pay a real charity and donated it to themselves, all after having legitimate doubt cases on the ethics of recent business practice.

Legally acceptable or not they've hurdled moral obligation and struck an all time low.

Pussies.

If they're serious they should dump the cash into a trust controlled by people outside BFL. Or they should make sure to give a few BIG chunks of that cash out immediately to worthwhile causes like zerocoin. Charity in my mind was like cancer treatment or hospitals or something...

I am amazed they built enough units to mine 1000 coins. I always figured they would be donating to the Homes for Hooks and Beer or some such.

+1 This.

They should use an escrow to prove they have 1000 BTC to donate and have that escrow donate it on behalf of them publicly so there is no funny business.

John could do it.

Likely BFL doesn't want to do this because it involves an honest 3rd party to keep things transparent.

Oh. No escrow?
Not real. Not news. All BFL news must contain escrow.

They did put the 1000 BTC at an address that they have sent the first three 50 BTC donations out from.

I'm too lazy to do too much analysis on where the coins came from, but there is this one https://blockchain.info/address/1KhHvmZXxqGRA821Rsqcs6FF2EwLsddrSX

which has had over 44,000 BTC run through it starting back in October. Which, is coincidentally, the first time they said they were going to start shipping.

HAHHHAHHAAHAHAH

huh?

I'm not proving anything. All I'm suggesting, is that on their website, they have an address posted, that had 1000 BTC in it, and they have made an announcement, and then sent three 50 btc donations from it. That's what it looks like.

I use donations liberally, because it looks more like two of them are payment for work.

Yes, some other random person could have sent 1000 BTC to an account, and sent out three payments for work to people that happened to perform work for BFL. Yes, that's a possibility, and I'll agree that with BFL's track record, who the fuck knows for sure...

I originally didn't have a problem with BFL creating an external charitable organization, but you're right - all celebrity charities are run by an external board. BFL too may need to set this up, otherwise it could be seen as a way of money laundering or tax evasion.

I, personally, like the idea of the 1000BTC donation going to an organization which then doles out smaller donations to the community. But that organization's choices should be independent of the group funding it, and maybe it will be.

This saddens me to no end!

This is the icing on the cake to have them get the scammer tag of which is no longer available on BitcoinTalk.

Not only is BFL a piece of shit, but all those who defend them are PIECES OF SHIT also, for there is no motherfucking way in hell an honest person would even begin to try to justify this action.

I haven't finished reading everything yet, but it wouldn't surprise me to see that Josh, too, is donating his 1000K BTC to the same phantom fund, and this is a PHANTOM FUND run by none other than Sonny Vleisides, of which I'm pretty sure it's against his probation terms to do such.

These motherfuckers are going down, and going down hard. I advice that all those who have pre-ordered to get out while the getting out is good, for a handful of use are about to go full retard and start making phone calls and sending out emails.

THIS IS NOT A MOTHERFUCKING THREAT!!!

I predicted that BFL would do just this (set up their own charity), but currently too fuckin' pissed to hunt the post.

Madness! Utter motherfuckin' madness!

By donations to smaller groups, I'm sure you also don't mean, pay their developers a salary through it like they have done so far.

Theymos ended the scammer tag aspect, giving us the Trust thingy in its place.

Is retard Inaba teaching you how to treat people who have something against you?

Edit: Also it seems that they only donated ~150 BTC from the promised 1000. Let's see how long will it take them to actually donate ALL 1000 BTC!

Please don't hate on Kano. He's a cool dude.  :-\

my point exactly. . . but still hmmmmmmmm.....

I don't hate Kano, but he should use the ignore function or reply politely. I saw a lot of flames coming from retard Inaba, but didn't expect Kano to use the same language.

Apparently , according to reddit; 50 BTC has gone to Luke-Jr's charity...

You can see that on their site and the block chain. It didn't go to Like Jrs charity, they paid Lukey for modifynig his software so that their miners will work.

My first ever WTF bump!

Its no use.

They are ultimate trolls and they enjoy being it, lol

In case you missed my point, BFL can claim all they want that they are "donating" to people/charities but until there is a 3rd party to verify it, it is all bullshit in my view.

Out of charity money?!

I've seen people do that before, he may well be owed money, but he shouldn't be treated as a charity, nor should he let himself be taken advantage of like that, and that is definitely 100% NOT a charity payment!!!

More charity donations imminent to chip manufacturers, board makers and costa rican travel agents.

No mames!   :D

You're fucking right it's not a chairty payment. That's a salary to lukey.

And luke is laughing all the way to the bank. Lukey should pass that "donation" onto a real charity. But, he knows it's payment for his services so he will keep it.

Well ... I will say I find this thread amusing for a different reason.

It's an argument about what they should do with the 1000BTC - rather than many posts before in other threads about saying they wouldn't do anything :)

Personally, I do think it's great that they are giving it away, even if it isn't to those that specific people want it to be given.

Hell I'd say yeah why give any of it to Luke-Jr - I can't stand the guy - he is indeed a low life with an agenda.
But that's their choice ... IMO.

It doesn't matter who they give it to, there will be some who claim there are others more deserving of it.
But as for actually giving it away, there certainly is some amount of it that it has happened with so far, and it is easy to see the amount and where it is going by looking at that address
http://blockchain.info/address/1ERVh27gZfPSDaaagL9R3W12xpMJ38ZBA7

Hmm, another 75 now to ...
http://www.bitcoindf.org/project/sean039s-outpost-one-bitcoin-will-feed-40-homeless-people-14

All this is just noise to me. Bets, Charities, Funds... Who Cares?

Just develop and ship great products on time. Full stop.

How I feel (http://youtu.be/3x1Lt4qBZi0?t=7s)

So they'll get the 1000 BTC with the miners that they should be shipping soon, making their customer slaves wait while difficulty continues to increase.  Stay classy BFL

I am literally laughing in the background...

You may be a great programmer, but you are a terrible human being.

Who knew you could buy people over so easily? One Jally is all that it took to make someone bend. I understand Kano bending to the weight of a jally because he really does only seem to be out to cover his own ass in his own statements. I see it as a mere byproduct that his programming skills are put to good use in the BitCoin Community.

Luke though, as a Christian I can't help but wonder. It took "that little" to make you bend...

Make sure when you both throw stones at each other that it doesn't bounce off your heads and right back at you both.

Very Disappointing.

-------------------------

The only one who has come out clean despite all the "donations" and "gift" giving through programming was cklovias. The funny thing is people call him by his name Con, yet his actions are (as observed) nothing but above par in every respect.

Kano do me a favor, and never show up in the same thread as cklovias. You'd tarnish his name just by being present. Thanks.

http://www.reddit.com/r/Bitcoin/comments/1fq0kn/bfl_donates_1000_bitcoins_to_charity_after_losing/

Could have been a bunch of horseshit, but there are dudes on this forum that are trying to do good via BTC.

Bicknellski (I think) helps a Montessouri school in Indonesia.

I recall someone with a signature line about building homes for the homeless, with BTC.

I hope these folks are helped out by the BFL "charity".

Thanks very much for your kind words.

I did indeed receive 50BTC. It was a totally unsolicited and unexpected donation without any notification from BFL, so it took me half a day to figure out where it even came from. It is most welcome and admittedly I do request BTC "donations" in my documentation.

I can be easily convinced to work on code that I don't object to (e.g. I will not support botnet or cpu mining code) for donations but I will not be the spokesperson for anyone else, nor will I try to police a company or person's behaviour. I prefer to stick to code and the technical details only and let others debate the rest.

+1

Respect. It may not be in your nature to police a company or person but at some point one has to take issue with certain behaviors in any community. Sitting idle and being a passive observer can also be damaging to that community. Some times leaders need to stand up and lead. Your actions may do that by sticking to code and tech details but at times it may require you to take a clear stand against predatory people and companies. That is not directed at you but the WHOLE community especially those with technical skills that often shape this community. Personally I would rather deal with those who provide value to the whole community but also demonstrate a strong ethical and honest stance on important matters in the community and that is who I want to work with.

LOL! Do more than help. I own the school.

I don't think we need BTC from BFL to keep going but yes there are certainly many charities that could further bitcoin and altcoins in new places.

I was sort of tongue and cheek asking for BFL donations.

Our school will be building miners with students. The proceeds from the mining go into at scholarship fund for needy students and non-profit micro loan foundation that our students will administrate and then use to reach out in our local area to needy families.

The thing as a Montessorian and this whole affair is the whole inequity and lack of ethical behavior at every turn and it is shocking given the reality that a 6 year old can and will choose right from wrong each and every day given the right environment. At this point supporting BFL is not really productive for anyone but those with a vested interest in getting mining rigs they were promised delivered. Sickening they have waited this long and it is sickening they will continue to wait.
 
Honesty and ethics can be part of any environment... all one has to do is choose to be ethical and honest it is simple as that.

You have my deep respect.

What you are doing with BitCoin is in so many way, what a real charity is supposed to be about. Building, not just handing out money for the sake of a tax break.

(Note: If people think a BitCoin is worth alot in Dollars, imagine how much it is worth in other nations where the income stream for the average person is well below what people enjoy in their home nation.)

In light of your efforts, your words carry significant weight.

BFL? Well, you can put lipstick on a pig, but it never ceases being a pig. (In my opinion)

I don't have an issue with BFL giving 50 BTC to Ckolivas and Lukejr for their time and effort coding mining software. I do however have an issue with them making said payments under the guise of a charity donation.

When the initial charity bet was made by BFL, I was under the impression the 1000 BTC would go to a REAL charity that helps people that are of REAL need to be helped. Charities help people in need... people that are starving, people that are thirsty, people that don't have homes, etc.

No offense meant by this, but it doesn't seem like either ckolivas or lukejr fit the mold as people whom a charity would help. It seems like the both have a roof over their heads, food, and water.

I'm disappointed to say the least, but not surprised at all considering we are talking about BFL.

I wonder if Theymos made the "Trust" segment in expectation of this and will just say "Okay, I finally agree that BFL are a bit shady but now we can just give their forum account negative feedback if you feel like it. Thanks for playing!"

Let me ask this: How will BFL declare these two donations on their tax return forms? Since neither entity is a sanctioned NPO, I doubt it'll be filed as a charitable donation. And since it can't be filed as such, there's still 1000K BTC to be given away to charities that are approved as such in the IRS' eyes.

Looks to me, BFL fucked up again.

I wonder if they are bothering to use old coins, or they're just throwing the new ones they made into it......
http://imageshack.us/a/img196/103/globalhashmoststablemin.png

Keep in mind some of BFL Big players, ie multiple mini rigs etc are co located there and receive special treatment. That blip you see may be one or several of their prototype rigs and not BFL itself mining.

I take my lead in this community from the following people not in any order.

John K
Everyone on the Avalon Team
Those who continually 'Troll BFL' in order to educate the community about their unethical practices
Those who defend BFL but understand that they are shady and probably unethical (we need balance)
BKKCoins
Makku
Jtimon
Galambo
TheSeven and the team behind the X6500 fpga!

... and many many more people who do give back to this community that I do not know of yet.

The reason so many are pissed is the real beauty of the community. People are not here sitting back and taking the bullshit, they are fighting the hypocrisy in the community. There is also a healthy and respected core of humanity that far out weighs the scammers and douchebags which is pretty much the reality on this planet. Most people are honest, hard working and willing and able to share their knowledge and work and are respected and rewarded for the most part we can obviously do more for the likes for Ckolivas, Bkkcoins, TheSeven and JohnK as well as others who give back to the community. That is where I want to focus my students attention to those who have skills, who give to the community and are respected in their fields. I am just a teacher and I get all the respect I need or crave in the classroom when my students achieve anything.

Would be nice to toss come coins to Breast, Colon, Lung, Liver, and other Cancer Research Organizations.

Every little bit helps.

A friend of mine is going through a second round of battle with Colon Cancer that metastasized in his lungs and liver. Had surgery a week and a half ago to remove three nodules from his lungs. He's going to start on chemo for 6 weeks to shrink the tumor in his liver down to a more operable size before they put him under the knife a third time to cut this batch out. Then resume chemo for a few more months.

Imagine that. Getting Colon Cancer mets in your lungs and liver.

Didn't know cancer worked that way. Blows my freaking mind and learn something new every day.

Cancer fucking sucks.

This conspiracy was debunked a while back. Notice the spike is right in the middle of the continental United States.

Apparently, this is how the data is displayed from all aggregate unknown sources in the US. It is drawn in the middle of the country, which coincidentally just happens to be near our favorite Bitcoin related company.

Ok, I have seen that.  Are these people masking their IP address?  If not we should be able to get the region, if so we wouldn't even know what country, right?

I'm not convinced of anything anymore.  There are already people publicly compromised by money in this situation.

:)

Received transactions: 12
Received BTC: 3 594.3929
Sent transactions: 9
Sent BTC: 2 820.4466

http://blockexplorer.com/address/1ERVh27gZfPSDaaagL9R3W12xpMJ38ZBA7

Amusing quote - the one part of my post you removed is the bit that shows BFL donating 75 BTC to a 'charity'

Funny. Yes I'm laughing at you - not with you :P

Whatever as long as cgminer and armory get some, same thing

cedivad,

It's refreshing to finally agree with you on something.  Today, our cynicisms are parallel.

Guys! You are way to negative!

Look at the comments on Butterfly Labs forum. Their shills BFL staff faithful customers are quite happy with BFLs "charity project":

http://s7.directupload.net/images/130606/wxzhlj2p.png


Why not donate a coin or two? To the "More hookers for Sonny & Josh" charity fund:

http://s7.directupload.net/images/130606/35wtzmuq.png

Finally! someone commenting not on where the 100btc is going, but the fact that BFL are ASKING FOR DONATIONS! That's the real WTF.
They actually managed to twist the words "we will donate" all the way around into "please donate to us"

Someone mentioned trust.  (marketplace trust)

Unfortunate that trust will totally fail us in this situation, as they aren't actively promoting themselves through a specific user name.  Inaba is of course the name of the CEO, but unless that was consistently promoted the newbs buying from BFL won't know.

 COO.

I just took the time to read it and found somebody questioning my integrity pertaining to Bitcoin100.org, therefore I had to reply.

Ooooo Gossip.

But it hurt my feelings and made me cry.  ;D

PG you would think BFL would actually donate to your charity huh?

Nope. I wonder why.  ::)

About a month ago I received a PM from a bitcoiner who approached Josh with this and in no uncertain terms he said that he wouldn't as long as I was I at the helm, so I stepped down.

Yeah, BFL are proper scummy! They donated 75 BTC to SeansOutpost to feed the homeless! (http://www.reddit.com/r/Bitcoin/comments/1fq0kn/bfl_donates_1000_bitcoins_to_charity_after_losing/cacru0e) THE HOMELESS! Can you believe that? What more proof do you need that BFL are scammers and their "charity foundation" is simply their latest scam!

The way they do it is shady and to benefit themselves. They do it through their foundation and for press.

butterflylabs Cheater

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.

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.

Butterfly Labs / Bitcoin Development Fund just bought 7300 meals for the homeless (https://www.smore.com/u1tq)

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.

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.

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...

It's going to their ego and publicity.

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.

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.

If you read my second post, I did exactly that.

Just an FYI I did indeed get 10BTC donated to me about an hour ago.

http://www.youtube.com/watch?v=E2uh5xTCrag

Now 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.

Yeah, give it to Cklovias.

Or buy him a gold plated keyboard. For the low resistance to programing. ;)

LOL

He gave it to me :P

That's nice, but are you a "charity"?

I owe $200 USD to BFL to be given away to a charity. I have decided which charity I'm going to support. There just so happens to be a strip joint here in Sandwich, IL, and I'm going to dole the $200 out at $1 at a time to the dancers. I will write Bitcoin on each dollar before I do such.

Thank you for playing.

I gave him the 10BTC since the donation from BFL was to "cgminer" and not "ckolivas" and he's a significant part of the team.

I understand,

But if you make the payment to Kano an investment opportunity, then Kano might just pay himself off in dividends. I am unsure though as I am not a programmer ANALyst.

You might also want to change the nature of the payment to a sponsorship. In this way Kano must always wear your logo or avatar wherever he goes.

(Im just joking)

http://i41.tinypic.com/2r20xsl.png

This was a general comment, not directed at you or anybody else in particular. Using tax status to determine ANYTHING about a company is really pretty silly. Plenty of massive scams and abuses operate every day under tax exempt status.

CGminer and its programmers have inarguably helped the bitcoin community as a whole. And I don't see where they are charging vendors for writing drivers or implementing hardware support into the CGMiner project, so the assertion that they're paying their contractor bills by donating to that project seems largely unfounded.

Can somebody point me to evidence that there was any sort of contract or monetary arrangement between BFL and the CGMiner project folks prior to BFL deciding to make a donation?

He's donated a shit-ton of work, time, and intellectual property to the bitcoin community, if that's what you're asking...

He doesn't have a piece of paper from the dot-gov declaring him a registered religion, if that's what you're asking...

A trade of hardware for software isn't a donation, IMHO.

So he is not a charity. Thanks for clearing that up.

Having the hardware on hand in order to be able to program software to make the fucking thing work is not a trade. Mighty difficult to develop software for hardware you don't have available.

Nor has the sum of Kano and other CGMiner developers work even REMOTELY fit into building software drivers for the Jalapeno...

But go on ahead with that sourpuss approach of yours, if that's what feels right. Because I doubt whether BFL or the CGMiner team give a fuck how you feel about it. ::)

Let me clear something else up for you as well: Recipients FROM charities are very rarely charities themselves. The whole purpose of charities is to distribute funding to various people/projects. If you donate money to a mosquito net charity, they're not gonna buy the mosquito nets to be passed from one charity to another like a game of hot potato, they're gonna give it to, *GASP* a PERSON! A person who is NOT a charity!

What does that do, does that blow your mind?  :o

Thats not how the IRS sees it.

And yet, I couldn't give a fuck less about the IRS' point of view on the matter. They're a bunch of thugs and slave drivers, and political vendetta and campaign errand boys for the current administration. Zero fucks given about the IRS' opinion on this matter, which has precicely NOTHING to do with them. ;)

For the IRS reps playing at home, wenchmonkey is Josh Zerlan who's on record for stating the same vile toward your fine establishment.

If you don't believe me, have the NSA check the logs of this forum that they have on file.

Why are you always so angry?

Relax and calm down a bit.

http://img525.imageshack.us/img525/4111/evilmonkey301k.jpg to

http://cdn-www.cracked.com/articleimages/ob/monkeys/drunk_as_monkey.jpg

Please!

More proof that you don't ever let facts have any bearing on your statements. ;)

Why would it matter what I, or anybody else, have to say about the IRS, it wasn't already pretty well accepted that they're a bunch of goons and thieves?

Funny how the defender(s) of BFL never seems to want to follow the law, or even acknowledge that it exists.
Telling.

BFL is the one claiming to be donating to charity. If they were going to donate the 1000 btc to the community, or to random people, or something else, then they should have said so. But they promised to donate the 1000 btc to "charity". I don't care if Kano is Satoshi himself. He is *not* a charity. All "donations" to non-charities need to be removed from their fake charity page.

I pay my taxes, I follow the law, I acknowledge it exists. Why do you always try and twist things into something they're not?

I also just happen to acknowledge that slavery is not a proper system. Some people are okay with it, I'm not, however, that ALSO has nothing to do with whether or not BFL's donations are going to noble causes... The IRS is about as much an expert on noble causes, as the Pope is an expert on astrophysics.

No, BFL created their own charity, which claims to be donating to causes that benefit the bitcoin community, and other humanitarian projects. They already created and donated to a charity, now they're putting the donations to work, since that's what charities do...

BFL creating their own charity, donating to themselves, then paying their contractors with it. Quite the song and dance routine.

And you'll get to sharing those contracts when, exactly? You seem to have personal knowledge of these alleged contracts. Please share them with the rest of us.

Actually, no. The "Bitcoin Development Fund" is not a charity.

Your facts have no power over the Dancing Queen (http://www.youtube.com/watch?v=TGfNSitVQFM)!

Even if you go to http://www.guidestar.org/SearchResults.aspx and search for Bitcoin Development Fund and find nothing, it will not phase him in the slightest.  ;D

Dear IRS

I have a friend who's still on probation and he wants to know if it's okay for his company to create a "Development Fund" to launder a crypto-currency.

DHS is in charge of money laundering now. At least, that is what they said when they went after LibertyReserve and Mt. Gox/Dwolla.
Clearly, the DHS will always make good choices when it comes to prosecuting Bitcoin related companies.  ;D

No, it's not a tax-shelter. Tax shelter =/= charity.

Is Butterfly Labs registered as a business entity? And in what state? Didn't come up in a Kansas search.

https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=149144214231010201167112190255028042109060235081

https://bitcointalk.org/index.php?topic=48863.msg619440#msg619440

"Corporate registry - The company is a 'C' corp registered in the state of Wyoming as BF Labs Inc.  Why Wyoming when you're not based there?  Mostly due to it's favorable tax and legal climate.  Operating in the same state of incorporation exposes the company to additional tax liabilities.  You might also find it interesting to know that the majority of US domiciled fortune 500 companies are either Delaware or Wyoming corporations for these same reasons.  Intel is a good example."

Hmm, learn something new everyday.

https://www.kansas.gov/bess/flow/main?execution=e1s5
https://www.kssos.org/filed_doc_viewer/view_entity.aspx?id=09262012465169112&submit=View+History+and+Documents

https://www.sos.mo.gov/BusinessEntity/soskb/Corp.asp?3402461

What the fuck does this mean?

Nevermind! I found it!


I thought it was something important.

Carry on!

http://files.sharenator.com/WHAT_ARE_YOU_Living_In_a_LMAO_World_V2-s560x358-284912-580.gif

How many states did they register in? Also, I'm late, but, wtf @ OP.

Administrative dissolution means the corporation was “administratively dissolved” by the Secretary of State in accordance with State law.Sometimes the corporation is not aware this has occurred. In most instances, a corporation is administratively dissolved because it failed to file its annual registration with the Secretary of State.This often occurs because the corporation is “out of business.”  However, it is also very common that the corporation moved its offices, the Secretary of State was not notified of the change, and the corporation’s annual registration form was not forwarded to the new address.Many times the annual registration is not filed simply due to an oversight.

Administrative dissolution of a corporation by the Secretary of State may occur for the following reasons:

Failure to file an annual report
Failure to pay franchise taxes
Failure to maintain a registered agent
Fraud upon the state.

However, as with a voluntary dissolution, administrative dissolution does not mean the corporation has ceased its existence. Administrative dissolution does not terminate the authority of the corporation's registered agent.

 

Before an administrative dissolution occurs, the Secretary of State must provide written notice by mail that the corporation is to be dissolved. The corporation then has xxx days in which to correct or explain the situation. If it does not, the corporation may be administratively dissolved.

If your entity has been administratively dissolved or your entity's certificate has been cancelled or rescinded, you may request a reinstatement packet.

A corporation or limited liability company may be Administratively Dissolved if the entity in question falls into delinquent status for failure to file its required annual report and fails to correct that status within a certain time,after appropriate notification attempts by the Department. Administrative Dissolution is the termination of existence of the entity by this department.

Source: http://www.infotaxsquare.com/view_article.php?id=218

As a renown BFL shill...I must cover the tracks in the sand and say...they probably forgot to file?

If there are no legal issues with the state they registered, then there is really nothing to worry about.

http://image.shutterstock.com/display_pic_with_logo/439492/439492,1302121481,4/stock-photo-close-up-of-an-uncomfortable-businessman-pulling-at-his-collar-74745535.jpg

PG you SOB...why are you always looking in places you shouldn't be!? Darn you and your Googling! >:( :D ;D ;)

(MASTER BFL Shill)

That's for the state of Missouri. They're in KS, with their primary corporation being incorporated in Wyoming. Missouri appears to be completely irrelevant to their current business structure. Most likely, they started the registration process in Mo., then decided to bin it, and just let the thing resolve itself. Assuming, of course, it's actually even the same BF Labs. Their website doesn't seem to be working to be able to view the filings...

But at any rate, don't let a rational explanation get in the way of your FUD fest...  ::)

There is no penalty associated with "admin dissolution"?

My quick guess would be that one would have to pay additional filing fees for registrations that were allowed to lapse. Of course, if wrenchmonkey was serious about his "fuck the law" stance, BFL should just fail to register and not pay any taxes either.
Who can really say they were surprised by this? Or surprised that some people would try to defend this behavior? Yet another broken promise from BFL, and they'll get away with this one too since nobody bothers to hold them to their promises.

And that was done.  Thanks.

http://www.kcmo.org/CKCMO/index.htm


https://en.wikipedia.org/wiki/Kansas_City,_Missouri

Why no one knows that 1/2 of KC is in Missouri?!

Nope. It's 29% done. The other 700 BTC are still in BFL's coffers.

lol they are probably mining the rest with pre-order customer hardware.

I mean how else are they getting the money to pay it?

They haven't really sold anything yet. They just took preorders for 1 year. lol

Essentially the customers of BFL are paying for this stupid charity bet.

What penalty? People voluntarily let businesses lapse all the time, that's why the dissolution process is in place. It essentially is a passive system to dissolve no longer functioning/needed business entities. If you don't manually renew it, it will automatically be dissolved after a certain amount of time. In what sense would it be reasonable for a state to penalize you for simply letting the thing lapse. Do you get penalized if you stop renewing your driver license, if you no longer live in that state? No, but if you want to renew it, you'll have to re-file some paperwork, and repay some fees, there's usually some sort of grace period that allows you to reinstate an expired license without having to re-file everything.

Business licensing works the same way. In some states, that grace period is up to 3 years. If you go back within 3 years and pay the normal annual fees, plus a nominal service charge (usually $10-$50) you can renew a lapsed business entity and immediately resume business operations within that state, often, this can be done on the state website.

Having formed, dissolved, restructured, bought, and sold several businesses, I can assure that it's really WAAAAY less of a big deal that a lot of people assume.

Good to know that even BFL shills believe that BFL is a no longer functioning business.  ;D

And totally unsurprising that the trolls fail at reading comprehension, yet again...

It's only a donation if it goes to a legal charity.

That is all.

Says who?

Says the IRS. There's no way that BFL will be able to check a charity box on any IRS form for moneys going to developers, albeit the expense(s) can be deducted another way.

The same is true for the noble cause they sent 75 BTC to down in Florida if that concerns isn't registered properly in the IRS' eyes.

So they don't get direct tax benefits? Who gives a fuck? Obviously not BFL...

That's not the issue. BFL will get direct tax benefits as long as the expenses are earmarked correctly.

Then what's the issue?

Sickening BFL is just sickening.

I'm missing some part of your reasoning.

BFL is an active business, yet letting their business license lapse is AOK?

BFL is now 59.6% complete with their 1000BTC project (I can't bring myself to call it a charity).

2014 Year-To-Date Donation total: 0 BTC

Note, they forgot to list a 25 BTC donation to the Lifeboat bitcoin endowment fund that brings the total to 596 (site still says 571).

So, still 404 BTC outstanding...

As noted in the BFL fucks us thread, the Lifeboat thingy website lists BFL Josh as a board member, so no surprise there.

Yea, thought t was hilarious that they made a non profit to over see their donations.. I thought that was the whole idea of a non profit... They just cant bare to part with that type of money. What should have been done is put it in the wording that BFL nor any of its contractors, employees, etc cannot say where that money goes.. and it should have gone to an already established non profit, not a non profit to profit BFL.. what a joke..

Actually, they didn't. All they did was create a website and sent some bitcoins from one wallet of theirs to another wallet of theirs. There is no non-profit status whatsoever to it. BFL, the for-profit company, is 100% still in control of those bitcoins.

They did send some coins to Sean's Outpost, of which is verifiable.

Oh, I see the confusion in my wording. Let me rephrase it. "BFL is in control of the bitcoins that have not yet been donated to charities."