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Author Topic: A Bit of Lite, time for Bitcoin and Litecoin to shine  (Read 748 times)
allanfreegate (OP)
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January 25, 2014, 05:53:33 PM
Last edit: January 25, 2014, 07:46:37 PM by allanfreegate
 #1

Lets show the broader population what the Bitcoin and Litecoin communities are really capable of.
What the Litecoin community has recently undertaken with the Eden Project is amazing, and it got me thinking.
Its one thing for Bitcoin and Litecoin to approach merchants to accept payments with the coins, but its a whole new level to create employment for people, help the environment and offer help to those who are not as fortunate.

Lets bring the bitcoin and litecoin communities together and AIM HIGH.

This is my idea.

1. Creating a charity....A potential name i thought of is "A Bit of Lite "
2. Getting the bitcoin and litecoin communities to vote for a worthy cause.
3. Teaming up the Bitcoin and Litecoin communities for an initial fund raiser.
4. Creating more awareness, for example through a Kickstarter Project.
5. Organising a Charity Event using funds donated via the communities ( For example organising a Concert, raising money via ticket sales).



Ideas By others
-All tickets for an event would be sold in btc or ltc, but still have a fiat option which would have a 25% mark up on them. (From adrock)


Where to from here?
- Generate some talk.



Bitcoin SubReddit
http://www.reddit.com/r/Bitcoin/comments/1w4ne4/a_bit_of_lite_time_for_bitcoin_and_litecoin_to/

Ps - Yes this is my first post on Bitcointalk, but been active with the communities since 2012. (mainly active on IRC)

IRC Freenode #abitoflite

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Sutters Mill
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January 25, 2014, 06:52:24 PM
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Sounds like a good idea to me. Remember though, charities are obliged to make their earnings public. Might struggle if all money is held in bitcoin.
allanfreegate (OP)
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January 25, 2014, 07:12:56 PM
 #3

Sounds like a good idea to me. Remember though, charities are obliged to make their earnings public. Might struggle if all money is held in bitcoin.

Thats a fair point you raised, clearly these are things we would have to start looking into. Somebody over at litecoin talk has already brought up that the litecoin association has already applied as a non profit. And i guess just keeping a open dialog with the right authorities. 
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January 25, 2014, 07:24:55 PM
 #4

Sounds like a good idea to me. Remember though, charities are obliged to make their earnings public. Might struggle if all money is held in bitcoin.

Thats a fair point you raised, clearly these are things we would have to start looking into. Somebody over at litecoin talk has already brought up that the litecoin association has already applied as a non profit. And i guess just keeping a open dialog with the right authorities. 

I think it's a great idea if, like you say, everything is followed in terms of charity regulation. There are also certain headings that the charity has to fit under. For example, one heading in the UK is 'the relief and prevention of poverty'. If you can fit a heading and convince them to allow the public documents to show Bitcoin, I can't see why it wouldn't work. Unless it was a bitcoin based charity but money was held in fiat.

No tax benefits for using bitcoin here as charities don't pay tax either.
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January 25, 2014, 07:52:23 PM
 #5

Sounds like a good idea to me. Remember though, charities are obliged to make their earnings public. Might struggle if all money is held in bitcoin.

Why? There's a public record there for all to see. It's as transparent as it could get.

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Sutters Mill
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January 25, 2014, 08:11:15 PM
 #6

Sounds like a good idea to me. Remember though, charities are obliged to make their earnings public. Might struggle if all money is held in bitcoin.

Why? There's a public record there for all to see. It's as transparent as it could get.

Yeah which is fine for us but every hoop to jump through is another challenge at pushing Bitcoin.
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