Bitcoin and Social Enterprises

[cryptor0th]

As we enter the 8th year of the Bitcoin experiment, one ought to stand back and ponder over why this system came into existence. A financial system that was motivated and inspired by the recession of 08, Government interventions into private business affairs and a grand bail out that spent taxpayers money to bail out big businesses that failed to conduct basic due diligence. Bitcoin, was not a result of rot business research and development but a revolution scripted in code, experimented with thought leaders of the time. Issues like scalability that we face right now are indicators of how little Satoshi might have anticipated the system to grow. And yet, here we are , almost a decade later with Bitcoin being at the forefront of discussions ranging from the future of finance to illicit transactions.

What we have with Bitcoin is a financial system that is designed to be democratic (initially), inclusive and built from the bottom up with the people at its center. Inflationary systems like those displayed by major banks are not possible with Bitcoin and while the prices may sway in reaction to market movements, it is relatively stable when we take into account the currency of nation states like Zimbabwe or Argentina. The monetary system has been a ray of hope for countless individuals around the world as it enabled our economies to interact with each other,  at ease, from the comfort of our homes. Bitcoin fought the inefficiencies of retail banking  for international transactions with a couple clicks and ten minute confirmation times. This system has done as much for finance as much as trade routes did for exchange of ideas and culture in the past.

However, as much as inclusion and poorer markets have been at the focus of majority of the pitches of Bitcoin related businesses, especially in developing economies, a critical analysis of the results these businesses have produced makes one wonder if we are deriving maximum benefit from the system. Social good is often not  a result of the release of code, but rather built upon activism meeting the right tools. Take music for instance. P2P systems of file transfer alone could not bring down the records. It was also the interest and massive movement generated thereof that enabled it to threaten existing corporate powerhouses. Bitcoin on the other hand is not a system that facilitates piracy of content. Much rather, it generates employment for people in remote parts of the world and helps us create a more collaborative planet whose economies are interlinked. However, it is yet to trickle down to people that can really use it.

The banks and corporate houses that rule the world have slowly taken the underlying innovation behind Bitcoin and created their own versions of Blockchains. Private blockchains, once released to consumers that can be herded like sheep would be easily bought into as they offer relative transparency and ease of use. Focus on the word “relative”. Even if Bitcoin offers something better, the average individual might not switch due to existing entry barriers and easier access into existing blockchains offered by banks. In other words, inadvertently due to lack of traction we just might enable big banks to continue making profit off the very system that was built, designed and deployed to fight their intrusion into the global monetary system.

Take the average non profit or disaster for instance. All of us have the ability to mobilize millions in a matter of hours and dispose them to areas of excess need if we put our hearts to it. ICO”s that offer a glimpse of what the future could be (and eventually scam) often raise millions of dollars and yet, when we look at funds that have been raised for humanitarian purposes, the total amount has been a fraction of what it could be. The use of blockchain oriented currencies for social good could reinstill people’s hope and faith in capitalism as it offers what public businesses cannot - transparency, lower entry barriers, and speed.





I am by no means stating that Bitcoin has to be used as a currency of choice for donations but much rather as fuel for socially oriented businesses that can drive change and generate impact. Since the currency can be tracked via blockchain, the transfer of funds to existing organizations can be effectively seen by all stakeholders involved. Expenditures incurred and the average return of investment on the funds allocated could further change how people see the currency. Take into account an Indian for profit (not naming here). They help women in the national capital : Delhi escape inter-generational prostitution and find a livelihood. The clothes they sell are sold at retail to western economies and income generated is further dissipated back towards the women that helped stitch it together. Apart from distilling a skill, they are being a ray of hope, support and happiness to countless women whose lives were otherwise in the dark due to sexual abuse and lack of an escape mechanism. They failed to raise about 10,000 dollars for their indiegogo campaign. This is less than .5 percent of what some campaigns in our community raises. Together, we have the power to raise funds and buy equity in projects like this. As they scale, they generate return of investment, not only for investees like us, but also impact and a livelihood for countless individuals.

Bitcoin has given upon us the power to change finance for good. The block-chain, in its essence is a programmable system that enables us to instill ideals and virtues into it. Paper fails at doing this effectively. Think for a moment, the kind of world we could create, if we mobilized money towards existing projects that target social good, instead of throwing it away into the whims and fancies of a few anonymous developers. Together, we can ensure prosperity not only for the privileged few, but for the world at large. Together, day by day, penny by penny, we’d create a better tomorrow.

Why isn't there a crypto-fund set up for investments into existing for profit social ventures ?
For all the talk of liberty, freedom an development we talk of, its time we back it with the money

-Cryptor0th

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[Shiroslullaby]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

[cryptor0th]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

Indeed, seeing how people have responded to this thread stands testimony to the same


Regards

[ObscureBean]

Humans only care about themselves, always have, always will. And this is why shifting from banks to Bitcoin is not gonna change anything. A lot of people seem to think that giving power back to the people will resolve the world's problems which they blame on governments, centralization, banks etc but the problem has never been with the system. People always want more, they always want to be more and power is always achieved at the expense of other people.

[franky1]

hmm fundraising for the "for profit ventures"

my ideology is that bitcoin offers a no barrier of entry for anyone to do things for themselves.
you dont need a bank account, you dont need to sign up to any payment services like visa or mastercard to accept funds.

you can literally be a busker on the street or selling stuff at a garage sale and all you need is a QR code on a piece of paper to accept electronic payments.

this alone should help people move forward.

as for profitable social enterprises. well they obviously think they can make a profit. so they dont need investment.
take the bitcoin foundation.

it failed because it asked for investment from members but did not use that investment. it instead took those funds and spent them on internal things like paid vacations and expenses for board members.

however as a social enterprise of spreading the word. the bitcoin foundation WITHOUT investment could have organised conferences and got funds from ticket sales. thus being self sustainable and actually profit from the social goal it pretended to have (spreading the word).

take anything. lets say food for the poor
a restaurant can sell food and for ever meal they sell, another meal is prepared for those in need.

this concept is why Bitmain is successful. for every ASIC it sells, they make a few other asics for themselves to keep.
imagine its greed was taken away and those 'free' asics went to homeless shelters to earn a shelter funding to pay the rent and ofcourse the heat generated from running the asic meant that shelters stayed warm without paying for heating as a separate bill.

social enterprise is great. but asking for funds upfront without showing how it will be utilised or even planning how to be self sustainable to not require endless investment like a blackhole, constantly sucking in investment. means it wont work

i would prefer self sustainability and teaching people to look after themselves to not need to rely on third parties. which is part of bitcoins original ethos.

[Milkduds]

Bitcoin still needs to develop more of a base and prove it is more than a attraction for people that like to gamble on it one form or another.
The social movement towards developing countries could use a lot less paper work and more boots on the ground and agree blockchain rather than bitcoin can actually help stream line the money to show where every nickle is going.
The top donation organizations will fight this due to being top heavy,its really quite disgusting how little makes it to the targeted Country.

Social activism will be hard thing to push from within the bitcoin community and think you need to reach from outside it to push more social change. The foundation we have is mostly built around greed and self preservation,at least that is the loudest barking dogs on the forum.

[springgers]

This is a new system in a old world, we pay a lot of taxes to government and they steal or making bad investments.

So in my opnion, instead of the rulers choose where/when to spend this money, well, maybe we can something like that:
Everyone have to donate X% of earnings however they can choose where to invest this money, maybe with cryptos can be more easy to do this, like a blockchain where people can "vote/send" the money from government tax to where they want.

Something like that, don't know if anyone understood what I say lol

[franky1]

This is a new system in a old world, we pay a lot of taxes to government and they steal or making bad investments.

So in my opnion, instead of the rulers choose where/when to spend this money, well, maybe we can something like that:
Everyone have to donate X% of earnings however they can choose where to invest this money, maybe with cryptos can be more easy to do this, like a blockchain where people can "vote/send" the money from government tax to where they want.

Something like that, don't know if anyone understood what I say lol

um no.. a bitcoin tax.. sorry. i dont think a mechanism to have a fixed % taken from you or me is a good idea. i feel we should remain with a free choice.
i have personally gave out lots of coins as a free choice. it should never be an imposed obligation.

what should be done is those wanting to start a social enterprise to seek funds from the actual task they want to achieve.
EG
instead of a government asking for $500billion of tax to take care of public services and hand $10bill to the poor.
government opens a national grocery chain where customers buy groceries and the income gives foodbaskets(foodstamps) to the poor.
taking the burden of the poor away from the tax payer and reducing the tax burden to $490bill

EG
instead of a government asking for $500billion of tax to take care of public services and hand $20bill to transportation so the private companies can keep all the travel ticket income for corporate vacations and bonuses
government opens a national transport system where customers buy travel tickets and the ticket income repairs the roads/rail
taking the burden of the transportation away from the tax payer and reducing the tax burden to $470bill

EG
instead of a government asking for $500billion of tax to take care of public services and hand $20bill to phone companies so the private companies can keep all the line rental income for corporate vacations and bonuses
government opens a national communication system where customers pay line rental and the income repairs/upgrades phone/cable/mobile coverage
taking the burden of the telecommunications away from the tax payer and reducing the tax burden to $450bill

and so on until no tax is required because its a sustainable system of free choice

it was actually halfway working really well in the UK in the 1990-2000's..

but then the public services started being sold off to private companies, which is the opposite to a self sustainable business..
and now while accepting tax funds in increasing amounts. Adding to the tax burden.. the private companies are keeping the profits and also increasing the sales income via raising their prices. yet not actually growing the services..
yep thats right. tax costs have increased.. private profits have increased. public services have shrunk.

the only way to incentivize positive growth is to only get paid by the growth itself.

EG say you had a fruit and veg stall you had to make $300 a week. if you were getting paid $290 in tax relief from some 'start a business' scheme. you will only sell $10 of apples just to technically classify yourself as a startup business.. and then go home when you met your $10 target.

however if you got nothing upfront. you are going to work harder and sell alot of apples and look at the community to find out what the favourite fruit and veg is desired and start promoting oranges and banana's and even expanding into selling orange juice apple juice, fruit smoothies etc to get your $300 a week.

[Kprawn]

Bitcoin started out with honourable intentions at the start... then the capitalist noticed the technology and the potential to make more profits.

They could not be stopped, because the technology was not properly protected by Satoshi to begin with.   ...The other problem is, these

people are not interested in relinquishing their control to the poor. They have been exploiting the poor for MANY years and this technology just

made it easier. { The mechanics to transfer value is cheaper, so it means more profits for them }  

[xIIImaL]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

Social serving activities all go with the legal path, then How we use this decentralized currency to charity or orphanage. For all this first bitcoin should get accepted by the government then all the usage possibilities are there.

[franky1]

Social serving activities all go with the legal path, then How we use this decentralized currency to charity or orphanage. For all this first bitcoin should get accepted by the government then all the usage possibilities are there.

government is not the friend of sustainable growth for the people. just the rich. we should not let governments control bitcoin. all that will happen is requirement of $$million licences and require people to hand 10% of their income to eventually the rich

seriously the government had a monopoly for hundreds of years. bitcoin is the alternative and should remain the alternative, not join the monopoly

[shahab khan]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

Bitcoin is one of the finest digital currency i hope in future it will bring a positive change in our lives. i absolutely agree when people use it in a positive way to donate for a social cause .

[tabas]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

Bitcoin is one of the finest digital currency i hope in future it will bring a positive change in our lives. i absolutely agree when people use it in a positive way to donate for a social cause .

It is already giving the people, us change for our lives. And haven't you seen some charities asking for bitcoins already? They are already in crpyto currencies maybe you are just late of knowing it because it is not kinda making some noise in the scene. But they are many of it already in the market. Just like this one: https://thewaterproject.org/donate-bitcoin

[Kakmakr]

Bitcoin has given upon us the power to change finance for good. The block-chain, in its essence is a programmable system that enables us to instill ideals and virtues into it. Paper fails at doing this effectively. Think for a moment, the kind of world we could create, if we mobilized money towards existing projects that target social good, instead of throwing it away into the whims and fancies of a few anonymous developers. Together, we can ensure prosperity not only for the privileged few, but for the world at large. Together, day by day, penny by penny, we’d create a better tomorrow.

Bitcoin was given as a alternative for the Fiat system, but nowhere in the Satoshi white paper does it specifically say that it must be used primarily as a system to improve social economic problems. The natural byproduct of Bitcoin is, cheaper financial transactions and a permission less financial system.

So without having to force people to donate money to good causes, Satoshi also created a technology that would reduce poverty < Putting more money into people's pockets, because of lower fees > and also granting them access to a global financial network, without limitations. < Even micro transactions were made cheaper and affordable for poor people >  

If you cannot change the people, then you change the technology they use. ^smile^

[CraigWrightBTC]

As we enter the 8th year of the Bitcoin experiment, one ought to stand back and ponder over why this system came into existence. A financial system that was motivated and inspired by the recession of 08, Government interventions into private business affairs and a grand bail out that spent taxpayers money to bail out big businesses that failed to conduct basic due diligence. Bitcoin, was not a result of rot business research and development but a revolution scripted in code, experimented with thought leaders of the time. Issues like scalability that we face right now are indicators of how little Satoshi might have anticipated the system to grow. And yet, here we are , almost a decade later with Bitcoin being at the forefront of discussions ranging from the future of finance to illicit transactions.

What we have with Bitcoin is a financial system that is designed to be democratic (initially), inclusive and built from the bottom up with the people at its center. Inflationary systems like those displayed by major banks are not possible with Bitcoin and while the prices may sway in reaction to market movements, it is relatively stable when we take into account the currency of nation states like Zimbabwe or Argentina. The monetary system has been a ray of hope for countless individuals around the world as it enabled our economies to interact with each other,  at ease, from the comfort of our homes. Bitcoin fought the inefficiencies of retail banking  for international transactions with a couple clicks and ten minute confirmation times. This system has done as much for finance as much as trade routes did for exchange of ideas and culture in the past.

However, as much as inclusion and poorer markets have been at the focus of majority of the pitches of Bitcoin related businesses, especially in developing economies, a critical analysis of the results these businesses have produced makes one wonder if we are deriving maximum benefit from the system. Social good is often not  a result of the release of code, but rather built upon activism meeting the right tools. Take music for instance. P2P systems of file transfer alone could not bring down the records. It was also the interest and massive movement generated thereof that enabled it to threaten existing corporate powerhouses. Bitcoin on the other hand is not a system that facilitates piracy of content. Much rather, it generates employment for people in remote parts of the world and helps us create a more collaborative planet whose economies are interlinked. However, it is yet to trickle down to people that can really use it.

The banks and corporate houses that rule the world have slowly taken the underlying innovation behind Bitcoin and created their own versions of Blockchains. Private blockchains, once released to consumers that can be herded like sheep would be easily bought into as they offer relative transparency and ease of use. Focus on the word “relative”. Even if Bitcoin offers something better, the average individual might not switch due to existing entry barriers and easier access into existing blockchains offered by banks. In other words, inadvertently due to lack of traction we just might enable big banks to continue making profit off the very system that was built, designed and deployed to fight their intrusion into the global monetary system.

Take the average non profit or disaster for instance. All of us have the ability to mobilize millions in a matter of hours and dispose them to areas of excess need if we put our hearts to it. ICO”s that offer a glimpse of what the future could be (and eventually scam) often raise millions of dollars and yet, when we look at funds that have been raised for humanitarian purposes, the total amount has been a fraction of what it could be. The use of blockchain oriented currencies for social good could reinstill people’s hope and faith in capitalism as it offers what public businesses cannot - transparency, lower entry barriers, and speed.





I am by no means stating that Bitcoin has to be used as a currency of choice for donations but much rather as fuel for socially oriented businesses that can drive change and generate impact. Since the currency can be tracked via blockchain, the transfer of funds to existing organizations can be effectively seen by all stakeholders involved. Expenditures incurred and the average return of investment on the funds allocated could further change how people see the currency. Take into account an Indian for profit (not naming here). They help women in the national capital : Delhi escape inter-generational prostitution and find a livelihood. The clothes they sell are sold at retail to western economies and income generated is further dissipated back towards the women that helped stitch it together. Apart from distilling a skill, they are being a ray of hope, support and happiness to countless women whose lives were otherwise in the dark due to sexual abuse and lack of an escape mechanism. They failed to raise about 10,000 dollars for their indiegogo campaign. This is less than .5 percent of what some campaigns in our community raises. Together, we have the power to raise funds and buy equity in projects like this. As they scale, they generate return of investment, not only for investees like us, but also impact and a livelihood for countless individuals.

Bitcoin has given upon us the power to change finance for good. The block-chain, in its essence is a programmable system that enables us to instill ideals and virtues into it. Paper fails at doing this effectively. Think for a moment, the kind of world we could create, if we mobilized money towards existing projects that target social good, instead of throwing it away into the whims and fancies of a few anonymous developers. Together, we can ensure prosperity not only for the privileged few, but for the world at large. Together, day by day, penny by penny, we’d create a better tomorrow.

Why isn't there a crypto-fund set up for investments into existing for profit social ventures ?
For all the talk of liberty, freedom an development we talk of, its time we back it with the money

-Cryptor0th

it is still not yet be thinked and developer of bitcoins are still depend on donation from users of bitcoins, and bitcoin is still new many people still be doubt making investment into bitcoins. For right now bitcoin is just be used for making profit personal or corporation.

[Slark]

The banks and corporate houses that rule the world have slowly taken the underlying innovation behind Bitcoin and created their own versions of Blockchains. Private blockchains, once released to consumers that can be herded like sheep would be easily bought into as they offer relative transparency and ease of use. Focus on the word “relative”. Even if Bitcoin offers something better, the average individual might not switch due to existing entry barriers and easier access into existing blockchains offered by banks. In other words, inadvertently due to lack of traction we just might enable big banks to continue making profit off the very system that was built, designed and deployed to fight their intrusion into the global monetary system.

Private blockchains are a joke and people will realize that sooner or later. Some sheep initially will be baited by this "amazing invention".
And it will be probably marketed as groundbreaking achievement 'a mix of technology and security' by banks and payment processors.
Visa already announced that they will be launching Blockchain payments service next year. I can't wait for it to fail.

http://www.coindesk.com/visa-blockchain-payments-service/

[Patatas]

Primarily,that's not the only concern to be spoken about.Social Awareness for the community of supporters/daily users/traders/every soul who has every got himself a bitcoin wallet is equally important.
The perception new users have
 -Bitcoin as a way of making money.
 -Bitcoin as way of trading.
 -Bitcoin as a way of money laundering
which I believe should be changed.
You think bitcoin is not commercialized ? Look at the amount of services around!Exchanges/Marketplaces/Freelancing,oh boy I couldn't be any more "commercial"! It's not totally bad if you may ask but...but..the adverse effects of it on bitcoin's primary motifs? Worse!

it is still not yet be thinked and developer of bitcoins are still depend on donation from users of bitcoins, and bitcoin is still new many people still be doubt making investment into bitcoins. For right now bitcoin is just be used for making profit personal or corporation.

Well....that's the entire point of Open-Source Systems..

[mlbs]

Unfortunately, most people that are interested in Bitcoin are doing things based on personal profit.
Hopefully it can be used as a tool for change, because as you pointed out, it makes so many things easy that were not possible before.
As time goes on, I would not be surprised to see charities and other social causes become involved with crypto-currencies.

Bitcoin is one of the finest digital currency i hope in future it will bring a positive change in our lives. i absolutely agree when people use it in a positive way to donate for a social cause .

yes, sooner or later bitcoin will be one of the great tools in changing finance in a good way. And there's nothibg wrong in donations, as long as donations were delivered rightfully to those who needed them. I believe that bitcoin is the future!