FOR IMMEDIATE RELEASE
http://www.pr.com/press-release/559444doabitofgood.com joins the Givecoin Foundation to GIVE Away 200,000 coins
doabitofgood.com the worlds first charitable giving hub based on Bitcoin is pleased to announce its partnership with the Givecoin Foundation (
http://givecoin.info) which through their generous donation of 200,000 Givecoins will establish their crypto-currency known simply as "Give" as our preferred transactional coinbase. We have agreed to literally Give it all away and will be providing all new users who establish a Givecoin account address in our system, 100 Givecoins to donate within our system as they see fit!
"When I first learned of Givecoin I immediately recognized its value and utility as the Bitcoin of charitable giving." said David Duccini Do A Bit of Good’s Executive Director. "Unlike most of the other so called 'Alt Coins' Givecoin was designed first and foremost for the benefit of others! Karmically that just feels good.”
doabitofgood.com is the first venture backed by Minnesota based Vires in Numeris, llc a company formed in 2014 to leverage Duccini’s over three years of Bitcoin mining assets and expertise.
Givecoin is based on the power efficient “X11” hashing suite of functions and is the perfect addition to the doabitofgood.com patent- pending screen-saver that links charitable giving campaigns with supporter’s desktops. When active the screen saver displays user selected photo albums from their chosen charity and mines for crypto-currencies which are in turn donated back to those causes. The system puts crowdfunding on auto-pilot.
“One of the big problems we’ve solved is offering a fully transparent transaction log that can link donors to donations. Why donate anonymously when you can not only take credit for your generosity but get a receipt in the process?” Duccini asked. He went on to add “With the recent rulings regarding the treatment of Bitcoin as a property in many countries, it is increasingly looking like there will be significant tax advantages for donating crypto currencies like Givecoin. We make the record keeping easy for both parties. Of course you can still elect to donate anonymously if you want to.”
Duccini believes that using Givecoin can create a virtuous cycle for charitable giving. “Donors create coins through the use of our screen- saver or deposit Bitcoins and other top crypto-currencies such as Litecoin, Dogecoin or Feathercoin and can “click-to-donate” or convert them instantly to Givecoin. Organizations can elect to withdraw any coin they have on account, convert them through intra- site trades with other users, or we can sell them to underwriters who will in turn use them to make donations back to other charitable causes.” he said.
Corporate underwriting alone accounted for just over $20 billion in 2013 by just the top 100 Fortune 500 companies according to the CECP (
http://cecp.co/research/benchmarking-reports/giving-in-numbers.html). “We estimate the actual global charitable giving to be 8-10 times that number excluding NGO's," Duccini said. "We believe that Givecoin's virtually friction-free ability to instantly do a bit of good anywhere in the world combined with it's limited inventory set at just 500M coins easily puts it within about a $0.40/USD per Givecoin valuation target. That’s a realistic goal assuming just one percent of the worlds charitable giving can be captured using it as its platform."
“That may not seem like much compared to Bitcoin, but considering that many non-profits to this day survive on collecting coins in jars it definitely has the potential to do more than a bit of good.”
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