Major Project set to test bitcoins true strengths on Sovereign Tribal Nation

[kimitsugroup]

Bitcoin Development Project Concept:
The Concept for this project is to test Bitcoins true market viability by introducing it to a economically impoverished area, and education the local community in regards to 3 elements,
1.) BTC Mining including ASIC hardware and development, software and control scripts
2.) BTC Exchanges and trading, understanding how market volatility works and  how it can be good for the overall industry.
3.) Payment Processing and merchant acceptance
The Target location is the Pine Ridge Indian reservation in western South Dakota, this location  was selected for two main reasons, one is it's long standing history of economic hardship and poverty. Also it's unique political status as a Sovereign nation, this would insulate it from outside federal regulations and the issues surrounding that. This will allow the Oglala Lakota Tribal nation to freely explore a BTC based market and can determine what, if any, regulations should be imposed in order to maintain a free market and consumer security at the same time
Our immediate goals are 25-50 BTC in order to purchase basic Mining gear to get started with Phase one of the project
For those interested in Donating we've set up 2 main Donation Accounts
BTC Donations: 15v9sS7KPPmBw4wgRDYVGrRiaMXNphCxdd
LTC Donations: LYADg8z4vFmmay3Fo35dh1FpGVxpU5p5sY
Also for those willing to Purchase/Donate Mining gear or with input and/or advice on this project email me Payu Harris BTC Oyate Project mgr   kimitsugroup@gmail.com

[1714884173]

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[1714884173]

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[Kouye]

Bitcoin Development Project Concept:
The Concept for this project is to test Bitcoins true market viability by introducing it to a economically impoverished area, and education the local community in regards to 3 elements,
1.) BTC Mining including ASIC hardware and development, software and control scripts
2.) BTC Exchanges and trading, understanding how market volatility works and  how it can be good for the overall industry.
3.) Payment Processing and merchant acceptance
The Target location is the Pine Ridge Indian reservation in western South Dakota, this location  was selected for two main reasons, one is it's long standing history of economic hardship and poverty. Also it's unique political status as a Sovereign nation, this would insulate it from outside federal regulations and the issues surrounding that. This will allow the Oglala Lakota Tribal nation to freely explore a BTC based market and can determine what, if any, regulations should be imposed in order to maintain a free market and consumer security at the same time
Our immediate goals are 25-50 BTC in order to purchase basic Mining gear to get started with Phase one of the project
For those interested in Donating we've set up 2 main Donation Accounts
BTC Donations: 15v9sS7KPPmBw4wgRDYVGrRiaMXNphCxdd
LTC Donations: LYADg8z4vFmmay3Fo35dh1FpGVxpU5p5sY
Also for those willing to Purchase/Donate Mining gear or with input and/or advice on this project email me Payu Harris BTC Oyate Project mgr   kimitsugroup@gmail.com

Just go there, explain what bitcoin is to them.
They'll take over.

[Desensitizer]

Bitcoin Development Project Concept:
The Concept for this project is to test Bitcoins true market viability by introducing it to a economically impoverished area, and education the local community in regards to 3 elements,
1.) BTC Mining including ASIC hardware and development, software and control scripts
2.) BTC Exchanges and trading, understanding how market volatility works and  how it can be good for the overall industry.
3.) Payment Processing and merchant acceptance
The Target location is the Pine Ridge Indian reservation in western South Dakota, this location  was selected for two main reasons, one is it's long standing history of economic hardship and poverty. Also it's unique political status as a Sovereign nation, this would insulate it from outside federal regulations and the issues surrounding that. This will allow the Oglala Lakota Tribal nation to freely explore a BTC based market and can determine what, if any, regulations should be imposed in order to maintain a free market and consumer security at the same time
Our immediate goals are 25-50 BTC in order to purchase basic Mining gear to get started with Phase one of the project
For those interested in Donating we've set up 2 main Donation Accounts
BTC Donations: 15v9sS7KPPmBw4wgRDYVGrRiaMXNphCxdd
LTC Donations: LYADg8z4vFmmay3Fo35dh1FpGVxpU5p5sY
Also for those willing to Purchase/Donate Mining gear or with input and/or advice on this project email me Payu Harris BTC Oyate Project mgr   kimitsugroup@gmail.com

Have you considered using other cryptocurrencys, or making your own in order to best suit your needs? 25-50 BTC is a lot of money, but the concepts which you are trying to prove (true market viability of cryptocurrency) could easily be established with a less expensive currency whose value could be independent from bitcoins and you could set.
Also, are you sure they are going to want to pay for the electricity to mine?

[franky1]

i smell a finshaggy sock

[kimitsugroup]

Yes I considered using LTC however with BTC being the main traded Currency I figured it would be better to use that over others...one interesting thing to note is seeing how the tribes Sovereign nation status will come into play in all this...I chose the 25-50 figure in order to beat market fluctuation...as BTC prices are falling currently I want to insure not having to seek another round of project financing...KAM has already offered .25 BTC. As for the Tribe they're interested in seeing exactly what crypto currencies could do for rebuilding a tribal economy. Im a tribal member and have close family ties on the reservation and have lived there and seen the poverty firsthand...I firmly believe BTC could be produce a stabilizing effect for the reservation. I know this Project is going to raise some eyebrows, I can see the Trolls already warming up...we always talk about what BTC could do if it was openly accepted by a government and supported...well here's our chance to see and find out...if successful Im planning to invite people to come and share their success stories with crypto currencies...According to the US Dept of Interior...they agree the tribe has the full right to regulate the use of Crypto Currencies on the reservation...or to openly accept them....so the question becomes...if the tribe opens a Native American Exchange how will that impact any US regulations outside of tribal lands?  
Also with the Electricity issue since it's a experimental developmental program the tribe would pick up power costs until the project was able to become self sustaining.

[kimitsugroup]

One thing to note for everyone...yes explain it to them and they'll take over but seeing as im from Pine Ridge, I've lived there...I figure im a good person to oversee the Project and help train others...and thats why we're seeking enough BTC to get a 500 Ghs - 1 Ths miner because like I said the BTC generated will be used to help train prospective traders on CC trading and market basics...again...this project is designed to become 100 % self sufficient. 

[Pentax]

Interesting concept.   For purposes of discussion, I'll give you the benefit of the doubt and assume that you're trying to help people and not just trolling for dollars. Having tried to set up charitable organizations in the past I know it can be a serious PITA on many levels.

Maybe I'm missing something, but if it were me, which it is not, I'd be investigating setting up a BTC casino online, if that is allowed, and I'm not shitting around one bit.  It's something I've been thinking would be a great idea and it seems that you might have a leg up in this case, as it may or may not be easier to get a gaming license, although I'm admittedly ignorant of the laws that regulate those industries, so it may not be a possibility.

If it is, it is going to be simpler to get people to donate the cash for a startup, which is what this is in either scenario.  Write a business proposal/prospectus, put together a team of business people and programmers and either go to a bank for a loan or float stock options. 

But in either case absolutely do start with writing that business proposal, as it will help you think through the logistics and potential problems ahead of time.  Banks or investors won't take you seriously if you don't have your ducks in a row, so take the time to step back and do some of these preliminary things most often overlooked by people trying to get something off the ground.

[Phinnaeus Gage]

http://abcnews.go.com/US/story?id=95944

The plaque outside the Apache Gold Casino declares the $40 million hotel, golf and gambling resort has “helped enable the San Carlos Apache Tribe to give a better quality of life to its tribal members.”

But seven years after the casino opened — and four years after the debut of a glittering new complex — many Apache families still crowd in small apartments or mobile homes.

The reservation’s unemployment rate has climbed from 42 percent in 1991 to 58 percent in 1997, the latest year available. The number of tribal members receiving welfare has jumped 20 percent. And the tribal government still grants home sites without water and sewer connections.

“We get no help from the casino, no money, nothing,” said Pauline Randall, 75, a lifelong resident of San Carlos.

$8 Billion and Little Change

Similar complaints echo across the 1.8 million acre reservation in east Arizona, but they could just as easily be heard on many other Indian reservations across the country that have built casinos in the past decade.

Despite an explosion of Indian gambling revenues — from $100 million in 1988 to $8.26 billion a decade later — an Associated Press computer analysis of federal unemployment, poverty and public assistance records indicates the majority of American Indians have benefited little.

Whether it be Bitcoin, casinos or a the biggest automotive plant in the world, it would not help those truly in need and, at the end of the day, sadly, the tribe would probably be worse off.

[LiteCoinGuy]

do you have a website? a video? something more than just some sentences? remember: you want at least 25 BTC "for free" for that project 

[kimitsugroup]

I'm working on a website page for the project...and very true bringing in Casinos didn't impact Native american communities quite as planned...but thats also the idea this project was looking at...this is not just building a new casino or a bank or a specific business...it's deploying Bitcoin Technology and concept across the board Mining, Exchange trading and Merchant services. Also this will affect a entire Sovereign nation, small as it is...but we'll be able to see what happens when a country embraces the idea of Bitcoin as a national currency. Last weekend the Bitcoin Community Donated 22 BTC to a collage kid for holding up a sign with his QR address on it...which is great..it shows the willingness for the Crypto community to help one another and support one another...thats what Im hoping can happen here...the same type of community support but for a good cause that would make a positive impact for the industry...I do understand it looks like im just asking for free BTC...im open to alternate means of financing the mining aspect to start this project...if mining groups wanted to aim a day or two of their efforts towards the project I set up a specific worker on -o http://mint.bitminter.com:8332  -u kimitsu_btcoyate -p x   if a interested party wanted to Finance the mining unit and send it...that way they'd be sure of what their efforts were going to or even putting together a loan financing arrangement...like I said...the main Goal is to get the project started and see how the results turn out...that's why we're looking at the 500 Ghs - 1 Ths range for the Mining Phase...that should generate enough BTC to start the Exchange Trading aspect (taking into account the increased Diff rating if project funding takes awhile)
I have a detailed plan write up available if any Serious Supporter would like to look at it...PM or email me  kimitsugroup@gmail.com  I will be working on the Project webpage today and will post here when it's ready again  I appreciate the Comments and input good and bad...keep them coming   -Payu H arris-

[kimitsugroup]

Ok the Project info page can be found on www.kimitsuassetmanagement.com would like to ask people if they cant Donate please share the link to others that may be able to help with the project we're also now on https://www.coinfunder.com/project/view/id/118

[saddambitcoin]

i'd be interested in donating...but

pardon my ignorance on these issues, is it possible for someone to join your sovereign nation?

[kimitsugroup]

Well heres the thing...the tribes here hold a unique relationship with the American Govt...we are, as I said, a Sovereign nation however we have a ways to go before we're respected as such. Thats why this project is unique and important for both the Native American Community as well as  the Bitcoin community because it will show the world that we can re build our shattered economy through the use of Bitcoin technology and at the same time it can show the world that bitcoin CAN be deployed and used as a successful primary medium of exchange and commerce without having to resort to a fiat currency...now as for the question of "joining", it takes alot to become a tribal member...mostly through family lineage. However the tribe is always open to welcoming potential new citizens that can bring something to the table and help bring together a better future for our people. my recommendations would be travel here during the summer, see the area, meet some of the people and see what you think. Despite the outward poverty theres alot of opportunity there with new skills, products, goods and services to offer.   

[richo262]

So you plan to teach the joys of ASIC mining to a impoverish state.

Steps:
1) Get them to fork out $25,000 they don't have for an ASIC miner
2) Hope it arrives
3) If it arrives, or arrive on time, hope you can gather enough BTC to make an ROI
4) Pay the power bill
5) Be confused as to why they are no longer interested in BTC.

ASIC mining is not something you teach to beginners, it is for people with money to burn and risks to take.

[GigaCoin]

Bitcoin Development Project Concept:
The Concept for this project is to test Bitcoins true market viability by introducing it to a economically impoverished area, and education the local community in regards to 3 elements,
1.) BTC Mining including ASIC hardware and development, software and control scripts
2.) BTC Exchanges and trading, understanding how market volatility works and  how it can be good for the overall industry.
3.) Payment Processing and merchant acceptance
The Target location is the Pine Ridge Indian reservation in western South Dakota, this location  was selected for two main reasons, one is it's long standing history of economic hardship and poverty. Also it's unique political status as a Sovereign nation, this would insulate it from outside federal regulations and the issues surrounding that. This will allow the Oglala Lakota Tribal nation to freely explore a BTC based market and can determine what, if any, regulations should be imposed in order to maintain a free market and consumer security at the same time
Our immediate goals are 25-50 BTC in order to purchase basic Mining gear to get started with Phase one of the project
For those interested in Donating we've set up 2 main Donation Accounts
BTC Donations: 15v9sS7KPPmBw4wgRDYVGrRiaMXNphCxdd
LTC Donations: LYADg8z4vFmmay3Fo35dh1FpGVxpU5p5sY
Also for those willing to Purchase/Donate Mining gear or with input and/or advice on this project email me Payu Harris BTC Oyate Project mgr   kimitsugroup@gmail.com

Lot of Scam and Free Coins asker indicators:

1. No proper project plan, no project whitepaper, unfeasible mining plan
2. v Low posts, unknown to the community, came outta nowhere suddenly wants coins
3. Been done before so many times where someone thinks of a "legit" looking idea just to gain free coins

I would be careful with this.

[trout]

Hey OP, I see you want to do something,
but don't have a good idea what.

To make your people use BTC here's what you need to do:
- teach people how to transact in BTC
- make it easy for them to acquire BTC: set up at least one physical exchange point
- offer protection against market volatility.

The first 2 points require a lot of on-site work with people.

For the last point: you could offer to always buy back BTC for the same
price you sold them to that person. May be with some limits on the amount and/or time.
Here you can be losing money, so it makes sense to ask for donations/funding.

I don't see how mining can be useful at all.

[kimitsugroup]

Ok again for people just thinking this is ONLY mining look at the ENTIRE project overview...the Mining aspect is only a small part of it...the mining aspect not only teaches about ASIC technology hands on...but the coins generated are planned to be used to teach the basics of Exchange Trading, Market reaction, and other elements of the bitcoin exchange market. By using coins we've generated through mining it reduces the tribes exposure to having to buy bitcoins to train trading basics. you can find the main project page with www.kimitsuassetmanagement.com and as far as the amount we're looking for...currently BTC price is down 30% I dont want to set the project budget too low then be stuck trying to ask again to help get it started...if we can get it started with a lesser amount I'll post that we got it started...and yes this type of project has been done before but not at this level. We're talking about Bitcoin being embraced as a national currency of a sovereign nation, this will go along way towards proving out Bitcoins viability as a stable means of exchange. We are looking at a idea to work with my tribes Casino to develop a exchange service point where people can buy and exchange btc to usd. Again, this is where the mining element comes into play. This project takes into account ALL aspects of Bitcoin from Generation to exchange to merchant acceptance. I do appreciate the feedback and to the people saying im just looking for free btc...last weekend at the Auburn/Alabama game the bitcoin community gave a random guy in the stands 22 BTC just because he held up a sign saying "Send me Bitcoins" which is great...this project is designed to test bitcoins true viability and see whether or not it truly can come in and rescue a failing economy. If someone wants to help draw up a proper whitepaper I'd love the help. if anyone feels like stopping by South Dakota next summer to help with the project hands on that would be great too (assuming it's going).

[coins101]

1. Get a few local people to confirm the project using a simple video camera, phone, any handheld digital camera, tablet

2. Post it to youtube

[richo262]

Yeah, we don't think this is entirely mining, but your first point of three is directly about mining with specific and very expensive mining equipment.

Mining is still a bad idea.

The price of gear is still set assuming the price is $1100+, now BTC is about $700-800 and changes between daily, I doubt anybody that is seeking an ROI on their latest investment is feeling comfortable.

Getting a whole nation to places its resources into mining something so volatile would not be a safe bet.

As much as an advocate as I am for bitcoin and crypto currency generally, I wouldn't put all of my wealth into BTC, same reason i dont invest in mining. If an altcoin takes the mantle in a year or two, it is a rather risky investment. If I wouldn't put all my wealth into mining it, I certainly wouldnt encourage an entire community to do it either. You'll either make them stinking rich or dirt poor.

By all means teach them BTC and all things crypto. I do suggest you listen to some concerns by others on this thread about the mining aspect. It's high risk for an individual and currently unlikely to have an ROI unless price goes back up.

[kimitsugroup]

Ahhh ok well maybe one thing I need help with is someone that can help with writing this more effectively...this project is merely meant to be a starting point for the tribe to take a more active role in bitcoin development in the future...I have the mining aspect in there because mining is how bitcoins are generated...also as part of that phase of the project I would hope to see perhaps the Tribal College, Sinte Gleska, or OLC take a interest and perhaps develop a course around chipset designs, SHA and SCRYPT Algorithms, Opensource Mining application development, etc.  I feel this would be productive because of Bitcoins inherent Open source platform which would allow a smaller college to develop a course structure around Bitcoin and Crypto technology Bit still the question will come up...How are bitcoins made? and where do they come from? The Mining aspect isn't meant to be a big income producer...it's meant simply to generate enough btc so that the second phase will have a greater chance of success...that being exchange trading. Exchange trading opens the door to market study, how Crypto currency exchanges work and how to exchange Crypto to Fiat and back. this part of the project also seeks to address the Sovereignty question and how tribal Sovereignty can be used to safeguard bitcoin technology and foster it's future growth. look at start ups like Bitinstant, Bitfloor and other exchanges and services that had good services, good aspirations, and good people behind the wheel...but were stopped due to federal regulations and state interference because of misinformation and pressure from the Fiat based banking community. Had a start up like Bitfloor partnered with a Native american tribe, the tribe could have hosted their servers or even helped run a brick and mortar exchange under Tribal Unified Commercial Codes and insulated them from crippling federal regulations...kinda like how places like costa rica host Online Poker sites due to it's international Sovereignty...only in this case you can drive to South Dakota. But there again..the bitcoins need to come from somewhere...and I wont lie there is a amount of risk involved in this project...but rather then asking for people to blindly donate BTC/LTC for us to experiment with...we're looking to fund a way to generate them ourselves we're also look for people who could come out after the project is started and give talks, guidance, advice and more to people here that want to learn. Im not a expert in mining gear...but there are some of you out there that are...that have designed your own units...I know there are people out there that are more experienced with setting up exchanges and how they run...if we get this project started even at a minimal level...how many would be willing to come out to SD and work hands on with the project to help develop it ? if people are leery of donating used gear or BTC how many of you would be willing to donate your time?