Please visit the link(s) above to get up to speed, but in essence we're seeking sponsors that have a Bitcoin related web presence. The amount seeking is only a US cent (penny) or higher, ideally at least a $1.25 USD donation is sought.
The original goal was to raise at least $500 USD but, thanks to three fellow bitcoiners, we have surpassed that amount. Now, we only seek at least 9 more sponsors so that during the Thanksgiving feast to feed the local homeless at Satoshi Forest there would be plenty of signage on site to be photograph, thus giving sponsors unique exposure.
We're not seeking any entities that may have fat wallets, for this is simply for you smaller outfits seeking exposure at a very reasonable price point.
If you have any questions or concerns, please ask, whereupon I'll address them in a timely fashion.
Here is Sean' Outpost's Bitcoin wallet address for all donations:
If you desire, please state what business entity you're representing here or on BitcoinTalk (follow the first link provided above) so that proper recognition is given, along with knowing what to place on the sign. Please provide a BlockChain tx for verification purposes.
Jason King should be along shortly to approve this submission, so please wait for such for your protection.
Thank you kindly, all, for at least taking the time to read this.
Bruno Kucinskas a.k.a. TMIBITW
Doing it here and open so the community can comment.
Matt, I wasn't at first interested in the 12 days of bitcoin series because I expected a lot of noobery and didn't recognize how involved you were getting with the community. After seeing some of your posts though I checked one out and was/am extremely intrigued; and now, I wait with bated breath for the next one to come out.
What turns out to be the most fascinating to me is your clear change in perception; from skeptical to clearly a bitcoin defender. It may be early to call you an enthusiast(?) but seeing your visceral reaction and reasonable defenses against the knee-jerk negativity of the other.. do we call them anchors? is A+ entertainment from someone who used to get excited anytime bitcoin was even mentioned
on the news.
The videos are sadly shorter than I would hope; always seeming to be cut off due to what I assume are network television constraints. If it's at all within your pull, I highly encourage you to make web-only cuts a la the way the daily show deals with longer-form interviews.
I think your animations are hilariously terrible; but your target audience is not myself (nor most of the people here).
With all the intro out of the way, I want to say:
Wow dude, good fucking job. I'm extremely impressed with your attitude, the things you say, and your tone with the others you are talking to.
I'd like to see, and would recommend a segment on 'real' bitcoin security. You talk about how it's untouchable by governemnt, etc.. but how secure is your bitcoin stash.. how much third party risk are you exposed to.. how much third party risk do you need
to be exposed to in order to use bitcoin.. how does this compare with a fiat bank? Some bits on cold storage (why not put .1 btc away for retirement?) in paper wallets, electrum seeds, etc..
like to see more of a debate between you and one of the more skeptical hosts.
Something I keep seeing again and again, both in your segments and the media at large is this store-of-value vs means-of-transaction dichotomy. I think it would serve you well to really grok the fact that bitcoin fundamentally cannot be a means-of-transaction without it being a store of value. In the same way one of these alt-coins with tiny market caps cannot transmit significant amounts of value over their network without severely affecting exchange rate; bitcoin is limited in its ability to exchange value by it's total market cap. Consider trying to exchange 15 billion dollars with bitcoin; to acquire/sell that much bitcoin is essentially impossible since it is bigger than the total market cap. Thus, with a market cap of zero, you are limited to zero ability to transact. Similarly, transactions in bitcoin are actually limited to a small (uncalculated afaik) fraction of total market cap of bitcoin to be considered useful.
That is not to say that bitcoin needs to be used as a store of value by everyone who wants to transact with it; just that bitcoin is only useful as a transactional mechanism if someone
is storing value in it. Conversely, bitcoin as a store of value is directly linked to it's use as a transactional mechanism. Luckily the world seems to be full of people willing to speculate on / hold bitcoin for those who just want to use it to transmit.
When people say that bitcoin is a commodity and not a currency; logically bitch slap them and remind them that anything that acts like a currency is a currency. Take a quick peak at : http://en.wikipedia.org/wiki/Commodity_money
and remind people that just because they
don't want to use bitcoin as a currency doesn't mean that when I buy plane tickets / cars / food / drugs / electronics / services / hotel rooms / cocktails; I am not literally using bitcoin as a currency. If you can spend something to buy something it is a currency; regardless of any old-paradigm-clinging pundit's notion of what the world ought to look like.
You talk a lot about how the bitcoin community is different than wallstreet is trained to think; with people generously tipping you and others; I think a shout-out to Seans Outpost would be a good thing.. the way he/they have leveraged bitcoin to do insane amounts of good can maybe help some to get this bitcoin=drugs/child-porn/terrorism notion out of people's heads and into reality.
Talk about remittances; m-pesa loaded with bitcoin as a concrete example, but also the general notion of wellsfargo fees compared with average remittance size; and how bitcoin can compete with that.
Maybe this isn't ready for bloomberg tv, but for yourself, consider the implications of cryptocurrency as an idea for the long term. Consider the (extremely unfair?) divide that is created by those with access to essentially free federal reserve sourced capital and what it means for the world if the source of money is literally hashing power; what happens to the institutions what make up like 20% of GDP and 40% of all profits if this source of free capital dries up? What happens to the world's "have-nots" if the parasitic version of the "haves" have less?
Those who have seen the light see that cryptocurrency (not necessarily bitcoin.. though it appears IMO to be a long-term player) will change the world as dramatically as electricity, combustion engines and the internet. There are zero signs of decreased adoption; and looked at long term an S-curve adoption is all but imminent. Do you see it yourself? Do you see how this idea, a distributed proof of work, guaranteed-fair, block-chain ledger is just too-good and too obvious to EVER go away without something better coming along? What you are reporting on now will almost certainly go down in history as one of the most fundamental changes in human society.
That is not to say that fiat currencies will go away soon or ever; but bitcoin is a new class of thing
; not to be compared as silver vs gold; but apples vs oranges. Comparing gold to bitcoin or bitcoin to dollars is like comparing a Model-T with a horse-drawn buggy; or a wind-powered mill (windmill) vs AC power in general.
Importantly, this same argument applies to the deflationary aspect of bitcoin.
First and foremost, bitcoin is still inflating
, how this point gets missed by all the nay-sayers (and advocates) is beyond me, but its important to note that over the next year ~1.3 million new bitcoin will be minted; a horrendously large >10% rate of inflation!
Secondly, and more to the point; every single anti-anti-inflation argument is tied up in the notion that the non-inflating currency is the only available currency. There is no reason to think that this is, or ever will be, the case; or the goal. Bitcoin can and will run in parallel with fiat currencies for a long, long time to come.
And those who argue that people won't spend bitcoin because it's deflating, and is therefore useless.. push them to the logical extreme of the argument... if it's useless isn't it valued at 0?
Wont it inevitably go to zero? If it will inevitably go to zero, won't there be a period of time where it is going down in value? Won't people then be encouraged to spend their bitcoin?
Why do people buy cellphones today
at 3x the cost of what they will cost them in 6 months?
Why do people spend bitcoins at all
, which they clearly do (100MM through bitpay alone).. if this infallible economic argument is accurate? Push on them and see what they say. If a physicist says that "when i drop a ball it will fall at a certain rate" and someone drops a ball and it falls at a different rate; the physicist has to change his underlying theory. When an economist says "people wont spend bitcoin", and people actually do
spend bitcoin, why are they not forced to change their
The digital currency community does it again, bringing ease to those in distress. Sean’s Outpost, a homeless outreach center, was affected by a mass flood in the Pensacola Florida area last week.A call for donations was made to help rebuild the center using digital currencies, and boy was it answered.. Sean’s Outpost Raises $24K Sean's Outpost founder Jason King has announced via Twitter that his organization has served their 100,000th meal, funded entirely with bitcoin. What do they think about Bitcoin after their experience with Sean’s Outpost? JK: I have three kids, Josie(9) she’s the one from the photo, Midgey(6), and Teddy(5). I think the fact that daddy spends his days helping the homeless has had a positive effect on all of them. They help me pack meals. They come to food sharings with me. They learn ... Let me start by saying I, Jason King, do not derive any salary or monetary compensation from Sean's Outpost. In fact, the cost of running Sean's Outpost has greatly outpaced the amount of donations we have received. The additional costs of operating have to date been covered by wife and I. The only board member who receives compensation is ... Sean’s Outpost is a renowned homeless shelter that has been accepting bitcoin donations for quite some time now. One of the initiatives of Sean’s Outpost — called Satoshi Forest, a homage to Satoshi Nakamoto — has been the subject of a court case in the state of Florida. Justice has been served, as Satoshi Forest has been deemed legal, and homelessness is not a crime.
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