With the money that is currently in the process of being reclaimed from mybitcoin, I will put the money into an organization that will fund the development of bitcoin related projects and the economy. Naturally, these funding will be in the form of prizes, and ambitious at that too.
In any case, I will need to lay out the charter and the framework and how we're going to get funding, the kind of prizes we will be funding, and so forth. For now, it is a vague idea with some funds backing it up.
My thought right now:
1. Study up and learn to use the GLBSE. My idea is that those who own more stocks will be paying more into the foundation each month.
2. 75% to 80% will be going to the funds. The rest will probably be maintenance of hosting and domain names. For best result, efficiency is desired.
3. We should lay out a plan on how we're going to back up and who's going to be escrow.
4. If possible, I would like to split my liability to another trusted escrow agent. This way, both of us would have to lose the money to wipe away the funds.
5. I don't want this charity to be confused with the X-prize foundation. Better names welcomed.
Blah. I don't have the time or energy to do this project. I will either return what left of the funds or pass the money to someone the donors trust.