• Butterfly Labs donates 1000 BTC to charity and bitcoin related projects



    Today, Butterfly Labs is giving a sneak peak at a new project that aims to promote charities and other projects that benefit the greater bitcoin community. The new site is called Bitcoin Development Fund and is intended to be a gathering place for those who wish to donate to various projects or charities through the use of bitcoin, but may not know where to go to do so or how to properly vet credible charities and projects.

    Because we missed our power targets we set forth when we began our ASIC development, we are starting off the fund with a donation of 1000 BTC, which is valued currently over $120,000 USD. The BDF project will allocate funds to worthy charities and project as time goes on. Currently the BDF site is in phase one of the roll out, but more user interaction and participation in the selection of projects and charities to donate to is planned for phase two and three.

    If you have a charity or open source project that you believe benefits the greater bitcoin community, please feel free to submit it to [email protected]. It will be reviewed and vetted by the BitcoindDF for inclusion into the site.

    If you wish to donate to the fund, you can send BTC to: 1ERVh27gZfPSDaaagL9R3W12xpMJ38ZBA7
    Comments 27 Comments
    1. splinter1337's Avatar
      splinter1337 -
      im wondering if you used USD currency an converted them to bitcoins an then donated them....or did you make the coins by your own means?
    1. Theo's Avatar
      Theo -
      Awesome
    1. Quiver's Avatar
      Quiver -
      Quote Originally Posted by splinter1337 View Post
      im wondering if you used USD currency an converted them to bitcoins an then donated them....or did you make the coins by your own means?
      they probably mined them you know, ASICs are not their only venture as you imply, they also made FPGA and i would not be suprised to know that they are not running some fpga miners. also it has been stated that they test asic on testnet, they have also mined asic on public network for demo purposes. but seriously, what does it matter to you where they came from anyway?
    1. pitty's Avatar
      pitty -
      Cool, nice work josh and BFL
    1. yuhannl's Avatar
      yuhannl -
      Quote Originally Posted by arorts View Post
      Well, ethically it should be the former (hopefully) since BFL has stated in numerous times that they don't front-run their customers and that they haven't engaged in mining practices as far as I recall. Perhaps they've donated what they've mined during tests and the rest was simply converted from USD. (Unless their tests were virtual/simulated in order to not hit the blockchain and not use precious bitcoins). I'm also curious about it.
      It doesn't really matter - bottom line is BFL honored their words. End of story.
      Now just need to ship our products
    1. Shakleford's Avatar
      Shakleford -
      ... the human fund
    1. Flashman's Avatar
      Flashman -
      Interesting way to do it. Looks to be a kind of "meta" fund, but any thoughts on enabling donations to disaster relief causes, for current events?
    1. plasticuser's Avatar
      plasticuser -
      Quote Originally Posted by Flashman View Post
      Interesting way to do it. Looks to be a kind of "meta" fund, but any thoughts on enabling donations to disaster relief causes, for current events?
      Hiiiii, Bitcoin Charity here! So sorry to hear you lost everything in that hurricane/tornado/tsunami multi-strike. Hey, listen, guys, I know you have no power, and that by the time you do, set up an account, get it converted to dollars and wire transfered to that bank of yours that got flushed away with the rest of your things, here's 50 BTC! What's that you say? No, that's like $600! Ok, ok, well, do you have a pen and paper? Write this down.... 1. One. X. X-ray. Q. Quebec. No, no, that's upper case... No, I know you're not in Quebec. *click* Hello? Hello?
    1. bigasic's Avatar
      bigasic -
      this is a good project. But is this organization a charity? I think it would have been wiser to give it to a 3rd party registered non profit organization. The first 2 donations helped to develop software that runs the hardware. Don't get me wrong. I think helpingbitcoin businesses is great, I just don't see this as a real charity.
    1. Flashman's Avatar
      Flashman -
      Yup that's exactly the way to do it.. heh, haven't found a relief org myself that takes BTC yet...
    1. tempestb's Avatar
      tempestb -
      Seems like The United Way of Bitcoin charities. I think this is a good idea. Bitcoin needs more positive press. However, I would like to see some minor reciprocation from the charities by way of thanking the Bitcoin Development Fund publicly so that more people become aware of how it is used.
    1. Fjordbit's Avatar
      Fjordbit -
      Reddit reaction
    1. BitBoyben's Avatar
      BitBoyben -
      Great choice!
    1. Theo's Avatar
      Theo -
      Quote Originally Posted by bigasic View Post
      this is a good project. But is this organization a charity? I think it would have been wiser to give it to a 3rd party registered non profit organization. The first 2 donations helped to develop software that runs the hardware. Don't get me wrong. I think helpingbitcoin businesses is great, I just don't see this as a real charity.
      I also Agree, i thought it would go to help real people. not software development.
    1. Serj's Avatar
      Serj -
      Quote Originally Posted by plasticuser View Post
      Hiiiii, Bitcoin Charity here! So sorry to hear you lost everything in that hurricane/tornado/tsunami multi-strike. Hey, listen, guys, I know you have no power, and that by the time you do, set up an account, get it converted to dollars and wire transfered to that bank of yours that got flushed away with the rest of your things, here's 50 BTC! What's that you say? No, that's like $600! Ok, ok, well, do you have a pen and paper? Write this down.... 1. One. X. X-ray. Q. Quebec. No, no, that's upper case... No, I know you're not in Quebec. *click* Hello? Hello?
      Why you gotta be a dick when someone is doing something good?!? Go troll somewhere else....
    1. Nikg92's Avatar
      Nikg92 -
      You guys are awesome! Keep up the great work!
    1. SLok's Avatar
      SLok -
      Quote Originally Posted by Panda View Post
      Wait what? You pull out your own "charity foundation" out of your ass and donate the 1000 BTC to this foundation (-> basically to yourself).

      So next time I lose a bet I pay myself - and not the winning party. And tell him: "Go fuck yourself - I'm keeping the money as escrow. You should be thankful!".
      Panda, aka Frizz23, aka Frizz Supertramp, talks out of his ass as usual. Beside that, it is your money, of course?:

      https://www.smore.com/u1tq

      Butterfly Labs/Bitcoin Development Fund just bought over 7300 meals for the homeless
      I got an email today that the newly formed Bitcoin Development Fund intended to give us 75 Bitcoins out of the new 1000 BTC endowment.


      Shortly after that, we indeed received that donation...


      Bitcoin Transaction 8f199c728e2425ba8c7f6cf7f73baf8c88b852e4b2a2dacaa6 1243e144ebf0ea


      At the going rate, that's going to buy us around 7300 meals worth of food.


      Holy crap.


      Thank you so much for your generosity.


      Jason

      Seansoutpost.com

      [email protected]

      1JkKn478ivR6iux2pUCjsvqhguPywP3dFH
      And that's just a start..
    1. RockyRacoon's Avatar
      RockyRacoon -
      Where is this foundation registered?
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