Apologies for another mega post, but...
To start off, Bitcoin 100
will be donating $1,000 USD worth of bitcoins to Bitcoin - The Documentary (BTD)
We have faith that the guys will put forth the best efforts possible to produce a film bitcoiners would be proud of. Johannes and his crew seem to have the equipment, the help from their professors and, most importantly, the gusto. They only lack that thing called money, and that's where I opted to step in to help them reach their stated donation goal.
Although I've previously stated twice prior the how and what I propose to accomplish this task, this thread will now act as the official conduit between all concerns, acting as Phase One working in concert with Phase Two of a two-part fund raising drive.
Currently, Bitcoin 100
has ~BTC430 in our coffer
, equating to well over $30K USD at today's exchange rate. I propose transferring out a total $20K USD by the end of April, 2013, with no more than $10K USD ending up in BTD
's coffer, provided certain criteria are met.
Phase Two Outline
The following is how the maximum amount of $20K USD in BTC
is projected to be allocated.
First, as previously mentioned above, an initial $1,000 USD in BTC
will be transferred ASAP from Bitcoin 100
by Rassah. Yes, we are making an exception to our self-imposed donation guidelines but, as you'll soon read, the reward for doing such outweighs the former stringency. And, for obvious reasons, the strict BTC
100 per non-profit will be discontinued, unless Bitcoin proves to be going through another bubble, of which seems unlikely. In the event of such an occurrence, we'll revert back to our previous criterial standards.
That leaves $19,000, of which $10,000 will go to the yet-to-be obtained NPO/NGOs within the next 30 some odd days, ending April 30, 2013, GMT. This equates to $1,000 USD in BTC
going to each of the 10 newly accepted charities per the standard Bitcoin 100's
criteria, now leaving $9,000 USD. It's this dollar amount that I'll now show how it'll be dole out to BTD
Each time a new non-profit embeds a donation option on their respective website, they would receive $1,000 USD in BTC
, and BTD
will immediately receive $500 USD in BTC
. If the obtaining of 10 non-profits is accomplished before the end of April 30, 2013, not only will BTD
receive $5,000 USD ($500 X 10), but they'll also get the remaining $4,000 USD in BTC
of the $20,000 USD allocated for this endeavor.
The onus is firmly on me, working in concert with BTD
and fellow bitcoiners to obtain this goal. Although 10 NGOs is the goal, as long as there's still funds available, we'll continue to match the $1,000/$500 USD till the end of April. Therefore, there's a opportunity to add more funds to BTD
But that's the easy part. Now, I'll lay out Phase One, a tad more challenging, yet doable.For lack of better titling, I opted for the terms Phase One and Phase Two, although the steps expressed will function congruently.
Phase One (basically, the core of this thread)
As I've outlined above, it's feasible to accomplish said task without accepting another satoshi from fellow bitcoiners. Frankly, the less than 100 people that have donated to Bitcoin 100
, to date, contributed more than enough already, considering what we've done, albeit a lot more could have been accomplished. But, no real harm has been done, and thanks to the recent uptick, the value of our pool has grown several fold, thus allowing us to offer up this unique proposal.
At this point I want to thank all those who've contributed to Bitcoin 100
again for their support. I only wish there were better words to use than the simple thank you.
Thanks to the guys announcing the production of Bitcoin - The Documentary
, I immediately recognized an opportunity, one that could prove beneficial to all bitcoiners, not just to Bitcoin 100
or some other singular entity.
But, there is a special request I like to make of proprietors who own viable entities and accept bitcoins as one (if not sole) of their payment options.
I'll present it in the form of a challenge on their part, and in essence they'll only be offering up their support in the form of a pledge. No escrow will be used, nor bitcoins need be transferred unless the goal is met: namely, doing what I've outlined above before the end of April. Looked upon it other way, one could consider it a bet that I can't do it, and if that's the case, then no pledges need to be kept. But if I do, then all pledges will be expected to be honored, with the bitcoins transferred to BTD
's Bitcoin address 1MuNPrfNMho5UP9312m3idzauwaCi57fLe.
Prior to the penning of this post, I've yet to contact any entities to present to them what I'm about to request in the form of Challenge Grants
Challenge grants are funds disbursed by one party (the Grant Maker), usually a Government Agency, Corporation, Foundation or Trust, (sometimes anonymously) typically to a non-profit entity or educational institution (the Grantee) upon completion of the challenge requirement(s). The challenge refers to the actions or results that must be achieved before money is released and usually involves substantial effort, so that the recipients know that they are helping themselves through their own hard work and sacrifice.(apologies for quoting the Wikipedia article in its entirety)
1. Spotlight the recipient organization and provide an endorsement from a well-known entity.
2. Help other donors feel that their money goes farther.
3. Enable the recipient to honor and reward the entity that issued the challenge grant.
4. Provide the maker the opportunity to garner positive publicity with a notably large funding amount they may avoid parting with.
A typical requirement is similar to matching funds where funds be raised or acquired from other sources following a stated matching factor, often 2:1, 3:1 or 4:1. For example, a $1,000 challenge grant with a 3:1 match would require the recipient to raise $3,000 before they would receive the $1,000 grant. The challenge could require a new solution to an existing problem that had been ignored. There could be additional requirements specified that could be virtually anything, from program certification to member participation.
In the spirit of the above to further amass donations toward BTD
, I desire at least 10 proprietors who own companies to pledge in the form of a Callenge Grant at least $500 USD worth of bitcoins each, payable IFF
I'm able to obtain 10 non-profits before April 30, 2013, GMT.
If my part is accomplished, than the $5,000 USD pledged will also be donated to BTD shortly after April 30, 2013. That would make the grand total no less than $15,000 USD in bitcoins donated to BTD
An individual Bitcoiner is more than welcome to also pledge a similar support, and it doesn't need to be $500 USD--it could be any amount. Likewise, company owners don't need to pledge exactly $500 for whatever reason, whether they can't or won't, for it's only a working figure. But the following is why the highest possible amount pledged is desirable.
I'm going to go out on a limb here and ask for a secondary Challenge Grant from The Bitcoin Foundation
), for I believe this endeavor is right up their alley. Again, it will have to be earned, provided a certain criteria is met.
I formally request a $1,000 USD pledge in BTC
as another Challenge Grant, payable IFF
at least a total of $5,000 USD by no less than 10 entities is pledged via Challenge Grants, of which is predicated upon I/Bitcoin 100
obtaining 10 NPO/NGOs by the end of April 30, 2013, GMT.
If all works out as I envision, that would put no less than $16,000 USD worth of BTC
's coffer. And at the end of the day, Bitcoin 100
will still have funds in our coffer.
Ideally, I would desire a commitment from The Bitcoin Foundation
first so that other entities may follow suit.
Apologies for going long, but it took a helluva lot longer to pen this than it took for you to read it.
~Bruno Kucinskas~ (my real full name, sans the Jr., verifiable, for your doxxing pleasure)