References: <20140213085420.GG2728@stodi.digitalkingdom.org>
 <1B1F4E6C-B963-45D5-B02C-AE797BBE4074@cosmicray.co.uk>
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 <RvQg1n01D56Cr6M01vQhwT> <52FDFDC1.2080709@lojban.org>
From: CosmicRay <cr@cosmicray.co.uk>
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Date: Sun, 16 Feb 2014 07:23:16 +0000
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Hi lojbab et al,

It was set up a few years ago (I can't check exactly when right now, travelling) after discussing with Robin on IRC, as an additional and experimental donation method.

The details of the Bitcoin addresses are on the Lojban site's Donations page, and the funds go into an account held with Mt. Gox, an international exchange based in Japan.

The donations can't easily be attributed to the donors due to Bitcoin's pseudonymity - in that sense it works more akin to a collecting jar for cash tips - but the dates and times of, the individual amounts and the total amounts donated are publicly visible through examining the blockchain, Bitcoin's public ledger system.  Online tools like blockchain.info are fine for this purpose.

Regarding converting it to "real" money and banking it, I think Mt. Gox is able to provide this service; the account needs to go through the usual KYC and AML set up first.  My opinion is that the BTC should be moved to a Stateside exchange before cashing it out, however at this moment Mt. Gox has a temporary freeze on BTC withdrawals due to a technical fault.

So far only I have access to the Mt. Gox account, which I'd be very happy to hand over to Robin whenever he likes :-)

kozmikreis


On 14 Feb 2014, at 11:28, "Bob LeChevalier, President and Founder - LLG" <lojbab@lojban.org> wrote:

> On 2/13/2014 2:24 PM, CosmicRay wrote:
>> Yes, the smallest Bitcoin unit is 0.00000001 BTC, known as a satoshi.
>> 
>> Bitcoin donations stand at 21,252,199 satoshis, which at the current
>> (wildy fluctuating) price is around 101.19 USD.
>> 
>> kozmikreis
> 
> (Robin and) I need to understand better what this is about.
> 
> Your report implies that LLG has some sort of bitcoin account whereby people can (and have) donated to it.  We've never organizationally set up such account.  So who did?  And who has access to this account?  Do we have a means for converting this to real money and transferring it to LLG's bank account?  Do we have a way to know who donated the money into the account?
> 
> This stuff can be important for legal (and tax) purposes.  Robin has to keep account of it, and report it, if it is really LLG's money.
> 
> lojbab
> 
> 
> 
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