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Author Topic: 2012-05-29 Bitcoin: Currency of the Future  (Read 1030 times)
PawShaker
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May 30, 2012, 11:31:59 PM
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Bitcoin: Currency of the Future
Benefits of bitcoin:

—–Bitcoin is global.

Bitcoins can be transferred to and from anywhere with internet like email.  There are peer to peer nodes that support the bitcoin system all across the world.  When someone sends bitcoins, they are visible to the reciever instantly, and can be spent within about 15 minutes.

—–Bitcoin doesn’t discriminate.

There are no requirements like gender, age, credit history, or minimum balance.  All you need is an internet connection.
[...]

http://dftbanews.wordpress.com/2012/05/29/bitcoin-currency-of-the-future/

Nicely written intro to bitcoin.

1FQkH63k6hkexFMTRzLtJEE6ZAaTBRhjiS
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Stephen Gornick
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May 31, 2012, 06:57:26 AM
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Currently, Paypal is the best method to send a donation for most organizations and their supporters.  This is the method Shawn currently useds for UP.   What would raising money look like with bitcoin microtransactions?

Shawn has ~250,000 twitter followers.

Assuming 1/4th of those are genuine, how much would each one have to donate to raise $10,000?  Some would give more, some would give less, but on average, just 16 cents.  These followers are already interested in what Shawn is doing because they follow him.  They are priviliged enough to have an internet connection.  I don’t think it’s too much of a stretch to say that they have a 16 cents laying around and would donate that 16 cents if it were easy to do.

Now with BitInstant expanding its cash deposit network to additional locations within the U.S. and to Brazil and Russia, and with the dozen or so additional countries where bitcoins can be easily acquired, a global request for donations is just a Tweet away.

The request for donations from a global audience is becoming as simple as sending out a Tweet something to the effect of:
 - "We now accept bitcoin donations.  Here's our address: [bitcoin address]".

Here's the person featured in the article.  A quarter million people following.   Over time, a growing number of those followers will hold some bitcoins.
 - http://twitter.com/#%21/uncultured

(well, reconsidering that -- the address should probably be on a Donate page on the organization's site, secured with https:// )
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