Replies (36)
ten31 and opensats hmmm?
just a game of maintaining a balance between the fraction disbursed and spent on admin and the base principal that keeps growing in purchasing power
not hard to see that their ability to do this is only going to continue to increase over the coming decade
Hmmm… going to spend a few more minutes thinking about this one this morning…
i think the thing is that the customers also don't want the funds quickly disbursed, just transparently, i think the donors understand that there is really no rush for the sats to be given to projects without careful consideration
has to be open source, has to be bitcoin or nostr related, and the developers have to have built some reputation to be credible donees.
it's actually a really good system, when you think about it, just maybe the board members aren't enough devs to really understand enough about who they are giving it to and how - as you correctly point out, so many of the projects are a scattershot of barely done MVP prototypes, i'd call them "barely viable" in most cases, once they hit that target everyone starts breathing again and forgets what was so important
well, yes. investing used to be an adventure. You had to belive in the project as an investor. It's fiat what changed that. It's mostly misallocation of capital these days, because money are worthless
I see now comments are around existing NPs which seem primarily tech/dev focused.
I’m really curious how this will affect social non profit orgs. Funding with bitcoin changes the incentives…
Well, with Bitcoin, money is the most valuable thing, so it also completely destroys the will to invest in anything that isn't life-sustaining.
as it should be?
Back to mud huts, but okay.
either you attract an investor or you sell your chairs. and toothbrush.
not ideal, but real (as opposed to fake)
they do publish a substantial amount of info about what they are putting it into though
also, yeah, i dug into a lot of the tax bullshit around this subject back in the 00s and registered one and everything... ended up just writing a bunch of refunds for myself and then they called an audit, and i eventually fobbed them off, and a few years later i did it all over again 🤣 seriously, tax is a total utter shitshow, i do legit business and i get no refunds, i just pretend i'm spending other people's money, and i get paid
yeah, i kinda don't believe in this nonsense about nonprofit though, that's a scam for tax purposes, as seekrit code for "we don't pay income taxes because we make a fuss about being helpful" and that's all you have to actually do to get a pass
seriously, the whole income tax thing is a paper thin veil over top of the biggest, open, but clandestine racketeering industry of all history, and membership on the inside isn't really that hard to get, legitimacy is cheaper than tax refunds
they do what they are required to do to satisfy the racketeers, not what is moral
i don't know exactly how moral the psychology of the people involved is, because at least some of them are clearly narcissistic attention whores, so their decisions will be influenced by how they estimate their actions will create more attention, and there's simple avarice to pile up their stack and pay for their yachts and hobnobbing around the conference circuit
but some of them not quite so much narcissistic, but maybe various levels of deluded about the busines model or the psychohistory or any number of aspects of the strategy for promoting bitcoin
it is what it is, and people are people
yes, "number go off" as in, the money is poop and it is only valuable when it's fresh
But how to attract an investor, when there is an NGO giving everything away for free?
for now i think the moral capital buildup is doing fine, there will be at least subsistence level results in it once one shops the system around to a few people with running concerns and find users
it's not easy innovating, while VCs and grant NGOs are just exploiting the system
That's the hard part. I don't know. But it used to be like that. And I think it's right to be hard. The investment must be better then just savings. Bitcoin is still too speculative (in terms of fiat price), but when it's not I guess everything with potential of 20+% will be considered.
yes, the game is rigged. but won't be forever. At least that's my hope
the more we can grease the skids for people to exit fiat the faster the game is up, and this is a network effect so it may seem like we are making mere inches of progress towards our goal at this time but in the next decade it will all happen in a matter of weeks and ... well... i have visions of how it will look, it's gonna be lit 🔥
This is like trying to sell BMWs in a market where the government gives away Trabbies. Even if the BMWs are much better, you can't compete against Trabbies until the Trabbie production completely collapses and the question becomes "BMW vs nothing".
And, now, imagine the Trabbie producer has more Bitcoin than God.
And, now, imagine the Trabbie producer is _also_ producing free BMws.
idk what to say. sometimes you can't be profitable even with superior product.
the sad part is that somehow people prefer shitty products because the government pushed them.
this will end. we might be the generation which makes this shift. it will (and is) cost us.
but this will end.
Well, it's not the government, in this case.
I know, but it's them who corrupt the game
you can't blame nonprofits (or anyone) for being pragmatic. in terms of playing the game
Don't hate the player, right?
But I am free to describe the hustle.
you sure are. and I appreciate you do
I mean this is just my brain dump. I don't tend to judge
Regardless of whether Bitcoin or not, a nonprofit has a mission formalized in a charter that is the measure of its ‘success’. Not profit-driven, but outcome-based. Sometimes it’s tricky to measure and that’s where non-profits (including churches) get into trouble.
I truly believe that 🔥
Nonprofit Hodl = NGU
i doubt you are as bullish as me tho ✊
can't know ;)
but given your apocaliptic solar wheather predictions...
incentives
me too
