announcement: the international "when-bitcoin-reaches 1000,- $ party"

[600watt]

Just checked the first page (the first time since I read it when I first saw this thread). Big red letters say something about reservations? I don't know if I reserved, but yeah, I'll be coming, and will have a +1. I'm bringing my spouse. No, that doesn't mean an increase in boobies.

 

reserving takes place by posting in this thread, but it is of course no obligation. more a protective measure in case more people want to attend as there will be tickets.

soon ^tm we will open ticket purchase. we plan to assign a unique 4 digit ID to any attendant, this will be sent via pm and kept secret. the attendant/buyer sends 1 btc and includes his/her ID in satoshis to the transaction. (for example member ID # 1234 will send 1.00001234 btc to the public party-adress) this will keep us from explaining how to sign a message to 1000 people. credit for this idea goes to sebastianju.

Who will be holding all of the BTC? And why do we need to buy tickets now?

Pretty sure we are going to need some sort of escrow on this.

we need to know that people are attending for sure, best thing to nail that is via payment (imho). we need to start contracting with all kinds of companies/services (venue, security, promoters, caterers etc.) it will be kind of hard to get contracts with no specific date down. but it will be impossible with no date and no money down. pretty soon we will need to cover minimum costs. escrow seems a good idea, but some of the funds will be needed before it hits 1000 $. of course we would need to only spend the very very minimum possible before it reaches 1000, since it will be like throwing away coins for cheap money.

this will be crazy to organize. but fun.

[1714982274]

1714982274

[1714982274]

1714982274

[Adrian-x]

Don't jump the gun only ask for ticket money after we hit $1000, and then start planning - we are in the ideation stage now, so all ideas need to be voiced.

For escrow services maybe ask around in the market threads. 

[Rassah]

Don't jump the gun only ask for ticket money after we hit $1000, and then start planning - we are in the ideation stage now, so all ideas need to be voiced.

For escrow services maybe ask around in the market threads. 

+1. I still think we may be too early for this. Even with the recent price run-up.

[lolstate]

I'm in. I should start scrimping for my Lufthansa fare  

[bernard75]

Is he our man to dj the Frankfurt $1000 party?   That reminds me I still haven't put my name down...

Did you hear that? "The Frankfurt Party"

I'm still very much for Frankfurt

Ah, I wasn't following the thread since I first read about it.  Is there a strong voice for elsewhere?  Maybe I should go back read the OP for a catchup!  I like Frankfurt but won't object to elsewhere if that's the way it's going.

The OP had Berlin as an alternative, but i guess thats off the table.
While Berlin has the wilder party scene, flights to Frankfurt are widely available and usually cheaper.
And the OP is from Frankfurt.

[The Rouge 1]

I think the money from this event should go towards putting the first bitcoin ATM in Germany at Heidelberg at the Miros Coffeeshop or Room 77 in Kreuzberg, Berlin two popular venues where the payment is accepted. And the first 100 people that had reservation on here should be able to claim an investment to the machine so it won't be owned by one particular person but one whole group. Maybe we can call it Germany's Bitcoin 1k Group. Let me know what you think guys .

The Rouge 1

[The Rouge 1]

Just saying one machine cost $5,000 courtesy of http://lamassu.is and not one establishment here in Germany has a Bitcoin ATM, Canada already has one in Vancouver, British Columbia. This is not charity, this is everyone that's contributing something to the party getting something out of it in the end besides partying and having a good time and leaving. So I mean it's just a suggestion, you shouldn't have an event and the people that made your event don't get anything out of it but another night wasted on booze. So I'm just saying you should think ahead and add that as one of the cost.

[Rassah]

there should be no reason to spend money before we hit $1,000 as we will not know when $1,000 will hit...

you are going to need some trusted people to hold on the money and some people to help you manage that.

Do we even know anyone *coughbitcoin100* who is trustworthy enough to hold other people's money *coughforumtreasurerfor750btc* or is able to manage money for others *coughaccountingandfinanceforamsterdamconference*? I can't think of anyone. Plus this would best be handled as an M-of-N shared multi-sig transaction if people do decide to keep it in escrow. Maybe even implement a script hash where the money added to the address doesn't go anywhere unless it reaches a certain balance (like kickstarter, but built into Bitcoin where the transaction fails if it doesn't reach some threshold), and if not enough people buy tickets, everyone's money just gets automatically returned.
I wonder if it's possible to set up s transaction where M of N people have to keep signing every month to keep the money pool going, and if they don't, have the pool "fail" and return the money, and let them do a final transaction where M have to sign to move the money to a final destination? That would alleviate the problem of the money being stuck in escrow if enough people disappear that M becomes too low, too.

[molecular]

Just checked the first page (the first time since I read it when I first saw this thread). Big red letters say something about reservations? I don't know if I reserved, but yeah, I'll be coming, and will have a +1. I'm bringing my spouse. No, that doesn't mean an increase in boobies.

 

reserving takes place by posting in this thread, but it is of course no obligation. more a protective measure in case more people want to attend as there will be tickets.

soon ^tm we will open ticket purchase. we plan to assign a unique 4 digit ID to any attendant, this will be sent via pm and kept secret. the attendant/buyer sends 1 btc and includes his/her ID in satoshis to the transaction. (for example member ID # 1234 will send 1.00001234 btc to the public party-adress) this will keep us from explaining how to sign a message to 1000 people. credit for this idea goes to sebastianju.

you might want to think about escrow?

Does anyone know anyone trustworthy who has a reputation of holding other people's money?

John.K. But maybe we can use something more modern. Like 5 of 9 a escrow address and distribute the keys to reputable forum members who will release the coins to the organizers at a certain point.

We should also somehow register refund addresses in case the party doesn't happen for whatever reason, so people can be refunded.

EDIT: probably refund addresses could be registered later, as long as people are able to sign messages with one of the inputs of the payment tx.

[molecular]

there should be no reason to spend money before we hit $1,000 as we will not know when $1,000 will hit...

you are going to need some trusted people to hold on the money and some people to help you manage that.

Do we even know anyone *coughbitcoin100* who is trustworthy enough to hold other people's money *coughforumtreasurerfor750btc* or is able to manage money for others *coughaccountingandfinanceforamsterdamconference*? I can't think of anyone. Plus this would best be handled as an M-of-N shared multi-sig transaction if people do decide to keep it in escrow. Maybe even implement a script hash where the money added to the address doesn't go anywhere unless it reaches a certain balance (like kickstarter, but built into Bitcoin where the transaction fails if it doesn't reach some threshold), and if not enough people buy tickets, everyone's money just gets automatically returned.
I wonder if it's possible to set up s transaction where M of N people have to keep signing every month to keep the money pool going, and if they don't, have the pool "fail" and return the money, and let them do a final transaction where M have to sign to move the money to a final destination? That would alleviate the problem of the money being stuck in escrow if enough people disappear that M becomes too low, too.

These are good ideas. Any bitcoin-experts here?

[ffssixtynine]

Too early to take money IMHO. You want to be much closer to the price and have firmer plans really.

I still reckon Berlin is a better place. Much better scene, nicer to visit (some people will hang around a few days for sure), real bitcoin place too and I think that's important. I would have thought bitcoiners would be happy to do the extra bit of travelling / maybe something could be arranged.

In the past I know even low budget football fans have chartered planes to travel those sort of distances, else buses or trains are options?

For anyone going all that way, you really ought to experience Berlin and Berliners. Frankfurt is, erm, not the same.

Also: how about a moon theme to one of the rooms, or to the whole bash?! And perhaps a chikkun for a few ltc peeps, lol.

[lolstate]

Also: how about a moon theme to one of the rooms...

Could ask these guys to set up a booth to advertise their wares: http://www.virgingalactic.com

[edd]

Don't jump the gun only ask for ticket money after we hit $1000, and then start planning - we are in the ideation stage now, so all ideas need to be voiced.

For escrow services maybe ask around in the market threads. 

+1. I still think we may be too early for this. Even with the recent price run-up.

I agree. It could still be a few years before we hit $1000/BTC.

Do we even know anyone *coughbitcoin100* who is trustworthy enough to hold other people's money *coughforumtreasurerfor750btc* or is able to manage money for others *coughaccountingandfinanceforamsterdamconference*?

I trust Rassah but I won't be sending any BTC for this until a well known exchange records at least one trade at $1000/BTC.

[Otoh]

Ryan Air fly to Berlin, ie from London-Stansted to Berlin, eg in Jan 2014 it's £40 return, or just 0.0644 BTC at $1000, now it's 0.25 BTC approx.

I agree, some form of escrow is essential, handing over > half a million dollars in BTC an indeterminated time in advance = not a good idea.

Berlin is symbolic to me for freedom, Ich bin ein Bitcoiner, etc - more edge & buzz & BTCs.
Frankfurt more symbolic for finance & banking - still fun, but less 'happening'. I'd choose the first.

[600watt]

thank you everyone for contributing ideas/thoughts concerning ticket purchase. it is very important for us to care about your thoughts and therefore we will postpone the date before opening payment procedure for a few weeks in order to discuss further and to get all details covered. we are not jumping any gun here, the reason why ticket purchase is a topic right now can be explained as follows: when we announced the idea about the party the btc price was about 150 $. it has almost doubled now. it may be easier to pay for a ticket when the price is low. maybe people start hesitating when price skyrockets. after all, this party will get more and more expensive for attendants as btc price rises. one of the funny things about this party is that you can buy in low now and later get to go to a highclass event. we rather want to let people buy in as cheap as possible which is one of the reasons of opening payment soon.
another reason is that we need some kind of planning dependability. we will need to sign various contracts with venue, caterer, pa, artists, security, promoters (and many more) and thus being personally responsible/liable. it would be a relief to know people are really attending before signing the contracts, before investing weeks and months of dedication, stress, time, energy. keep in mind we have a life other than just this forum, we expect/fear this developing into full time job for a while.
 
we also think escrow would be a good idea, but there are some concerns:
escrow could be a reliable way to secure the allowance payment of 1 btc for the attendant. refund is necessary when the party does not take off, since btc may never reach 1000 $ or if not enough people buying tickets. we set a threshold of 100 sold tickets. if below 100 tickets get sold the event is canceled and tickets will be refunded. the time limit will be end of 2015 or 2016 (rather 2015, or what do you think?)
if we use escrow and for some weird reason the escrow cannot release the funds (having an accident, wakes up one morning and hates the op, suffering a stroke, loses keys or whatever- the person who is liable for contracts will be doomed for financial disaster/end up with huge personal debt. i know that the reasons are pulled out of my ass, but it is not impossible that funds cannot be released, and who would want to take this risk of leaving personal financial future in something beyond personal control? imho escrow is excellent for selling goods, but not appropriate for this kind of planning. we are not saying escrow or any third party (for example rassah´s friendly offer) is out of the question, but we do believe that person who is liable for contracts and person controlling funds need to be the same. maybe we find an escrow willing to sign all the contracts. in addition, maybe it is appropriate to set up escrow combined with a structure of consecutive stages of organizing. early phase: payment via escrow, hot/contract sigining phase: release of funds to person/company liable for contracts. this way, in the early phase when cancelation of party is possible, all funds could be sent back by escrow.

before we are opening payments we will discuss this matter face to face with members of the german bitcoin community. there are meetings in frankfurt, stuttgart and heidelberg this month (https://bitcointalk.org/index.php?topic=254430, https://bitcointalk.org/index.php?topic=254430, https://bitcointalk.org/index.php?topic=309394.0) that we are attending anyway and we will kindly ask to put this issue on the agenda.  maybe this is a good way to enlarge trust.  we will supply anyone there with ID, in addition we are willing to release our ID to well respected forum members which are interested in attending.

maybe we can develop some kind of supervision about funds and how they will be used. we assure you to try everyting necessary to keep this as transparent as possible. scamming is out of question, we have family/kids and decade-old businesses and happy lives. we want to serve the bitcoin community with an unforgettable, once-in-a-lifetime party. we don´t want you to buy an insurance, an complex financial product or bitcoin mining vaporware. we are glad to put this together for the fun of it, a good party will need funds, 1 btc is not the biggest risk of all. if there is people that we cannot convince in the next few weeks/months (which we will try hard) we perfectly understand that they may not want to take this "risk". that is no problem after all. please don´t feel rushed or obligated or talked into something. when in doubt, don´t buy soon or don´t buy at all.

in addition we are starting to talk with possible sponsors. our dream is to raise enough via this channel to make it possible to mitigate ticket fee towards zero. if anyone has good contacts and is willing to exploit this shamelessly for the this event, please let us know. the same applies to any whale who feels generous enough to simply invite everyone -  

your bitcoinpartyanimals
600watt & cheech300


edit: typo
please excuse bad english

[Rassah]

Escrow with multi-signature will solve all the problems you have concerns about. Just make it so that 2 or 3 out of, say, 6 trusted people must sign off to release funds, and you shouldn't have a problem with funds not being available. I would also suggest allowing refunds up to a certain point, so that people will be able to make a statement about their commitment to going, while still feeling comfortable about having the money in their control (cutoff point being the stage at which we start actual planning and paying bills). Personally, I would not want to be a single guy responsible for holding all that money, and I'm sure no one else would be either.
With this option, we can actually start accepting tickets at any time, really. If it's just sitting in a distributed holding account, and people can just put money in and take it out at any time (with the need-#-of-people-to-sign delay), then there's not much risk for the holders.

[Adrian-x]

I just bought a ticket today $250 @ 25% of the cost. Thanks for the advanced notice.

I'll present it for preparation when Bitcoin trades over $1000.

Btw does the ticket including my partner?

[ffssixtynine]

You may find you can do a deal with someone line Olaf at Coinbase or similar for sponsorship or holding of the party fund.

When BTC > $500 consistently then you'll likely find people more prepared to go for it but we're a long way off even that. Today. Might be there in a few weeks, lol (probably be back at $100).

[600watt]

I'm in. I should start scrimping for my Lufthansa fare  

welcome lolstate ! it is too bad we do not know exact date so cheaper advanced booking rates could apply. on the other hand, when btc reaches 100 k $ you just buy an airline of your choice...

[rpietila]

Just checked the first page (the first time since I read it when I first saw this thread). Big red letters say something about reservations? I don't know if I reserved, but yeah, I'll be coming, and will have a +1. I'm bringing my spouse. No, that doesn't mean an increase in boobies.

Now you're just deliberately confusing people

I think it is a girl masquerading as a gay. But I have been wrong before...