Scam Texas Bitcoin Foundation in Richardson, Texas, United States

[Bitcoin Investigations]

This topic is about the phony "Texas Bitcoin Foundation," which established in Richardson, Texas in November 2021 with the EIN number 87-3669781.

Any information about it or its "funders," Natalie Smolenski, Avik Roy and Blockstream advisor Tuur Demeester, should be posted here.

Twitter handles:
https://twitter.com/NSmolenski
https://twitter.com/Avik
https://twitter.com/TuurDemeester

They "website" txbitcoinfoundation.org is littered with phrases like "we will" and other similar promises.

To me looks like the Texas Bitcoin Foundation is a scam.

[Rikafip]

To me looks like the Texas Bitcoin Foundation is a scam.

Can you please share some evidence why you think that they are scam because you haven't provided any absolutely any evidence to back up your claim.

From what I can see, they are some sort of non-profit organization to educate people about Bitcoin. They do not sell anything or promise return on investment or anything of that sort so I don't know how you got the impression that they are scam.

[Bitcoin Investigations]

There is enough evidence to support the scam accusation, such as the fact that they solicit "donations" but the only event they have ever held is a "TBF Launch Happy Hour" with caviar and champagne:
https://www.txbitcoinfoundation.org/events

They promise the following on the page https://www.txbitcoinfoundation.org/programs:


"The Satoshi Papers will feature essay..."

"...the Foundation will earmark a separate fund, the Bitcoin Developer Fund, to provide grants for developers..."


To me, it appears that the Texas Bitcoin Foundation will eat your entire donation rather than providing any educational activities at all.


Not to mention that all Bitcoin developers can be directly supported without the need to donate to an intermediary that is only set up to defraud people.

[Rikafip]

There is enough evidence to support the scam accusation, such as the fact that they solicit "donations" but the only event they have ever held is a "TBF Launch Happy Hour" with caviar and champagne:
https://www.txbitcoinfoundation.org/events

Looking at the photos, and it doesn't look to me like "caviar and champagne" type of event. I see people in casual clothes drinking coke & bear from a can and eating donuts. And please, for the love of God, use the default font size as there's really no need to use those big letters for the whole post.

To me, it appears that the Texas Bitcoin Foundation will eat your entire donation rather than providing any educational activities at all.

Well, they won't spend my money on donuts and coke (since I have no intention to donate) but I do see that they partnered with Texas State Technical College so maybe they plan to do something via them.

[Bitcoin Investigations]

Now that you mention it, the "Texas Bitcoin Foundation" is actually working with the CHOLLA PETROLEUM INC, not the Texas State Technical College; they use the TSTC as a cover for their thriving OIL and GAS business while "certifying" Bitcoin miners.

Cholla Petroleum Inc's CEO is Gideon O. Powell.

Also, the "programs" that TSTC offers have nothing to do with Bitcoin education, but rather with training workers for Cholla Petroleum Inc, who want to mine Bitcoin and claim to be super sustainable by using a grid they own.

My fart generates more green energy for Bitcoin mining than the criminals at Cholla Petroleum in Texas who have been fracking for years.
https://www.tallahassee.com/story/news/2015/10/23/fracking-fears-surface-florida-panhandle/74464786/