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Home > Press > World's first bitcoin endowment fund passes half a million dollars

Abstract:
Thanks to a large pledge of 500 BTC (bitcoins) by Brian Cartmell,
Lifeboat Foundation's bitcoin endowment fund has soared to $500,000.
Brian will match the next 500 BTC donated to Lifeboat Foundation.

World's first bitcoin endowment fund passes half a million dollars

Minden, NV | Posted on November 21st, 2013

Historically government backed money has done a poor job in holding its
value. For example, the successful U.S. dollar has lost over 97% of its
value since it was first issued. A less successful currency, the
Japanese yen, has lost 99.95% of its value since being issued. Many
promote the idea of trading rocks (gold and silver) instead but this
Bronze Age idea has various drawbacks including portability when local
governments decide to confiscate it. As a futuristic organization, the
Lifeboat Foundation should be promoting 21st century money and now we
are!

Crypto-currencies have many advantages over old-fashioned
government-backed money. For example, they allow people in less
developed countries to have access to the rest of the world. For
example, PayPal alone blocks access to over 60 countries, and many
credit card companies have similar restrictions. Some are blocked for
political reasons, some because of higher fraud rates, and some for
other financial reasons. Whatever the reason, we don't think a human
being from Haiti, Ethiopia, or Kenya should have diminished access to
the world because of payment issues they can't control. Our goal is to
enable people, not block them.

The Lifeboat Foundation would like to start a trend of nonprofits
building endowment funds with bitcoins instead of just spending them
all. Nonprofits could be using the deflationary power of bitcoins to
build up their resources so they are in a better position to make a
difference in the world. Help us launch this trend!

Lifeboat Foundation is now partners of Bitcoin Foundation and Bitcoin
Magazine. Lifeboat Foundation bitcoin-related board members include
Jeff Bone, Paul Buitink, Vitalik Buterin, Brenton Camac, Philippe
Camacho, Brian Cartmell, Stephen DeMeulenaere, Matthew Elias, Mark
Friedenbach, Chris Haley, Adam Harding, Zach Harvey, Kris Henriksen, Dan
Ilett, Nejc Kodric, Aaron Lasher, Sean Lavine, Bobby Lee, Adam B.
Levine, Juan Llanos, Colbert Low, Jon Matonis, Trace Mayer, Sam Mindlin,
Lasse Birk Olesen, Salvatore W. Delle Palme, Michael Parsons, Elizabeth
Ploshay, Alan Reiner, Benson Samuel, Charlie Shrem, Eli Sklar, Adam
Stradling, Jorge Timón, Jonathan Waller, Alex Waters, J.R. Willett, and
Josh Zerlan.

Also, to give back to the bitcoin community, Lifeboat Foundation has
created the first Windows version of oclvanitygen in the world that runs
well on high-end AMD cards. (Our version runs nearly four times as fast
as the old version!) You can download it for free at
http://lifeboat.com/oclvanitygen and can learn more about it at
https://bitcointalk.org/index.php?topic=301054.0 . oclvanitygen is used
to create vanity bitcoin addresses such as our bitcoin address
1LifeboatVPg24QghZ73Dzrx8AxcJLCnoA that begins with 1Lifeboat.

You can submit your suggestions on how to spend our Bitcoin Endowment
Fund at https://lifeboat.com/ex/bitcoin.suggestions

####

About Lifeboat Foundation
The Lifeboat Foundation is a nonprofit nongovernmental organization
dedicated to encouraging scientific advancements while helping humanity
survive existential risks and possible misuse of increasingly powerful
technologies, including genetic engineering, nanotechnology, and
robotics/AI, as we move towards the Singularity.

Learn about the world's first bitcoin endowment fund at
https://lifeboat.com/ex/bitcoin

For more information, please click here

Contacts:
Lifeboat Foundation News office
1638 Esmeralda Avenue
Minden, NV 89423, USA
+1 775-853-5212

Copyright © Lifeboat Foundation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

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