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Author Topic: Increasing bitcoin's legitimacy and acceptance - charities?  (Read 695 times)
mathx
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June 10, 2011, 02:35:29 PM
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What are the projects in place or that should be started to increase legitimacy?

One easy way I see is to give part of your earnings to charities. Especially larger charities, well known and respected. Though the issue with them is they might not care about a piddling $1M donation, where as smaller ones very much will.

So the goal is to find a highly visible, very publicly-palatable (nothing too political or polarized) but underfunded charity (or a dozen), and give them money.

'sides, this kinda jives with the basic concept of a more community-based economy. a 5% tax/tithe isnt very much for a good cause, and also supports our own future viability with BTCs.

Thoughts?

anyone already organizing such lists and drives to donate?
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June 10, 2011, 09:19:44 PM
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I personally feel this is an excellent idea in the sense that our (as in all early adopters, which might define anyone who finds themselves to be 'involved' in bitcoin) investment(s) in bitcoin have more to gain from the popularity and widespread use of bitcoin (globally) in the immediate future and in the long term than we have to gain from merely hoarding our BTC.

Think of it this way, and this is a ridiculous example on purpose.

Theres approx ~200mil USD worth of BTC in existence today. I hate basing the value of BTC on USD, but this is something a lot of people can relate value to still (which will change as bitcoin grows I'd imagine, perspective of what 'money' is that is).

As more people use BTC, this means more people buying in. With a limited supply, its value 'has' to go up in relation to everything else that BTC might be compared to for valuation purposes (correct me if I'm wrong here, but this is how I understand supply and demand to work).

So if you own 1 BTC today, would it not be in your best interest to see that more people adopt and use BTC (or rely on it even as a source of revenue)?

In other words. I take .5 of that 1 BTC I own, and invest it in growing the usage of BTC, this will in theory increase the value of that other .5 BTC I still own.

Lets say I make something awesome that makes BTC easier to use in the real world. Suddenly instead of 200mil USD being invested in 6.5~mil BTC, there's now 1 billion USD being invested in BTC. My .5 BTC is now worth in relation to USD, 5 times more.

Which would you rather have? 1 BTC that exchanges for 20-30 USD, or .5 BTC that exchanges for 50-75 USD?

And for the record, I personally do not believe in the current value of the USD as it has been rampantly inflated even in my own lifetime. I think at some point BTC will stabilize according to the global community, but this won't happen until it is more widely accepted and more importantly, relied on as a means of regular transactions (much like we rely on plastic and cash).

Until BTC achieves that level of adoption though, many will look at it in terms of "Whats it worth compared to the currency I can spend right now down at 7/11?".

A lot of people seem to be focused on the mining, pooling, and exchange side of bitcoin because, well... in my opinion, its easy. Developing [anything] that promotes the use of BTC however, is not near as easy, but I feel is going to benefit everyone involved in BTC currently, the most.

Grow bitcoin any way you can, using BTC preferably, and what portion you set aside as your own 'savings', will grow with it.

Just my .02 BTC.

And... I could be completely off the mark. This is just a simple short sighted observation I've made on the topic.

"I made you smile or feel better about things" donation address — 1Lhifrdmq563mZxY5gqYPEN5AdkN7Townd

"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt to the world to himself. Therefore all progress depends on the unreasonable man." — George Bernard
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