Bible Pay

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  • T-Mike
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Biblepay Charity Commission - Revised
« on: March 27, 2018, 07:59:30 pm »
Biblepay Charity Commission - Revised

I propose to start a charity commission to take care of all the in and outs of sponsoring children and the filtering of charity organizations. The sanctuaries will have the final say but we will be responsible for the screening process and for providing the Sanctuaries with the information they need to make a decision. Additionally, I propose we start a charity fund where it's purpose is to provide backup funds to the current active charities and support even more people in need. Biblepay does not currently strictly follow the 10% allowance for charities and is allowed to exceed that since it is Biblepay's top priority. However, this leads to under funding of other tasks that are important to the success of the project. In this way, we can support more children while the developers can focus on improving the platform to attract more people to invest in the kingdom of God.

Initial Road-map:
Secure Charity Fund Wallet - 4/31/2018.
Charity Tab on www.biblepay.org - 4/30/2018

Some background on me, I am currently working as an Assistant Program Manager at my company. I have 2 kids and a beautiful wife. I am blessed beyond anything I could ever imagine and want to serve the Lord wherever he pleases. I am still praying if this is where He wants me to be but He has already commanded us this,

Quote
Deuteronomy 15:11 King James Version (KJV)

11 For the poor shall never cease out of the land: therefore I command thee, saying, Thou shalt open thine hand wide unto thy brother, to thy poor, and to thy needy, in thy land.

Proposal Requirement:
Charity tab on Biblepay website.
Donate all leftover budget to charity fund.
Mike as director of the Charity Commission. (If there is someone else you think that is a good candidate for the position, please don't hesitate to mention that person.)



Detailed Information:
1. Securing the wallet: There will always be two people who have access to the fund wallet. Both these people will exchange their address by sending each other their bank statement (minus sensitive information) and phone number. The wallet passphrase will be engraved in metal and stored at a secure location in both locations.

Voting:
Yes: gobject vote-many 99333498383a5a12291bc42a671ec6a4f3904cb447e2b4fcb8275efbb416eb10 funding yes
No: gobject vote-many 99333498383a5a12291bc42a671ec6a4f3904cb447e2b4fcb8275efbb416eb10 funding no

To God be the glory!  -Amen
« Last Edit: March 29, 2018, 07:19:44 pm by T-Mike »


  • znffal
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Re: Biblepay Charity Commission - Revised
« Reply #1 on: March 27, 2018, 08:17:04 pm »
I like it!


  • 616westwarmoth
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Re: Biblepay Charity Commission - Revised
« Reply #2 on: March 28, 2018, 12:21:36 am »
Until our current orphans are funded 6 months out, I'm pretty pessimistic on further commitments.  The well being of our currently sponsored children is too important to risk on trying to do a bit more good, when all it would take is a drop in price of BTC back to sub $3k levels to dramatically impact their lives.


  • jaapgvk
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Re: Biblepay Charity Commission - Revised
« Reply #3 on: March 28, 2018, 02:56:21 am »
Until our current orphans are funded 6 months out, I'm pretty pessimistic on further commitments.  The well being of our currently sponsored children is too important to risk on trying to do a bit more good, when all it would take is a drop in price of BTC back to sub $3k levels to dramatically impact their lives.

Well, since this commission is in effect for the most part a buffer for events like you described (BTC in sub 3k levels), I don't share your pessimism completely.

Besides that, I think that this commission will add value to Biblepay, because it will create more validity for us (having a commission handling the scanning due-diligence on new charities). I think it's great PR.

I do think that until the orphans are funded 6 month out, we should - mostly - use any excess funds in the superblocks. They are excess because they weren't claimed with other proposals, so it's not like things like PR and IT are really missing out. Rob always waits until the last moment to create a proposal for excess funds, so there is plenty of time for others to make proposals.

So, I propose that "Donate all leftover budget to charity fund" should be something more like: "Donate part of the leftover budget to charity fund (until we reach a 6 month pre-payment for compassion), and after that, all of the leftover budget, until a certain threshold, and burn everything above that."

That was a longer sentence than I envisioned, haha!

I want this commission to be a buffer, and not potentially become a superpower, so I want it to own a lot, but not too much BBP. Also, from the investors point of view, this commission could become a 'whale' with the potential to crash the BBP-market, and burning coins will raise the value of the rest of the BBP.

Oh Mike, since I am on of the people working on the new website, could you explain more about the 'Charity tab on Biblepay website' thing?


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #4 on: March 28, 2018, 06:57:27 am »
Until our current orphans are funded 6 months out, I'm pretty pessimistic on further commitments.  The well being of our currently sponsored children is too important to risk on trying to do a bit more good, when all it would take is a drop in price of BTC back to sub $3k levels to dramatically impact their lives.

The backup fund is for the current charities, in other words 100% of the funds will go to the charities we currently are supporting. I know right now we are diverting the excess to the charities anyways but I think diverting the excess to the charity fund first is the correct way. Then, we can pay out from the charity fund monthly instead of having to pre-pay in advance.


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #5 on: March 28, 2018, 07:52:11 am »
Well, since this commission is in effect for the most part a buffer for events like you described (BTC in sub 3k levels), I don't share your pessimism completely.

Besides that, I think that this commission will add value to Biblepay, because it will create more validity for us (having a commission handling the scanning due-diligence on new charities). I think it's great PR.

I do think that until the orphans are funded 6 month out, we should - mostly - use any excess funds in the superblocks. They are excess because they weren't claimed with other proposals, so it's not like things like PR and IT are really missing out. Rob always waits until the last moment to create a proposal for excess funds, so there is plenty of time for others to make proposals.

So, I propose that "Donate all leftover budget to charity fund" should be something more like: "Donate part of the leftover budget to charity fund (until we reach a 6 month pre-payment for compassion), and after that, all of the leftover budget, until a certain threshold, and burn everything above that."

That was a longer sentence than I envisioned, haha!

I want this commission to be a buffer, and not potentially become a superpower, so I want it to own a lot, but not too much BBP. Also, from the investors point of view, this commission could become a 'whale' with the potential to crash the BBP-market, and burning coins will raise the value of the rest of the BBP.

Oh Mike, since I am on of the people working on the new website, could you explain more about the 'Charity tab on Biblepay website' thing?

One of the main reasons for the commission is so that we have an address people can donate to.

The website is for posting the charity fund financial information and charity screening information as well as an intro to the charity commission and other related info.


  • jaapgvk
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Re: Biblepay Charity Commission - Revised
« Reply #6 on: March 28, 2018, 08:01:10 am »
One of the main reasons for the commission is so that we have an address people can donate to.

The website is for posting the charity fund financial information and charity screening information as well as an intro to the charity commission and other related info.

Alright, yeah, the donation part sounds good, although I think you can already send BBP directly to the orphan address (just check the 'donate to foundation' box in the 'send' tab of the wallet). Or... It says 'foundation', so I'm not 100% sure where it goes. Maybe it's the pool address  :o Haha! That's exactly why the Charity Commissions BBP address sounds like something useful  ;D

10-4 on the website thing. That sounds cool.


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #7 on: March 28, 2018, 08:21:32 am »
Alright, yeah, the donation part sounds good, although I think you can already send BBP directly to the orphan address (just check the 'donate to foundation' box in the 'send' tab of the wallet). Or... It says 'foundation', so I'm not 100% sure where it goes. Maybe it's the pool address  :o Haha! That's exactly why the Charity Commissions BBP address sounds like something useful  ;D

10-4 on the website thing. That sounds cool.

I talked to Togo about it before, apparently everything has been sold. I just checked the address on the explorer and apparently it doesn't exist. I hope people aren't donating to it. But yeah I guess we can then get the fund address in the wallet and we can start posting it in our signatures.


  • jaapgvk
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Re: Biblepay Charity Commission - Revised
« Reply #8 on: March 28, 2018, 08:58:44 am »
I talked to Togo about it before, apparently everything has been sold. I just checked the address on the explorer and apparently it doesn't exist. I hope people aren't donating to it. But yeah I guess we can then get the fund address in the wallet and we can start posting it in our signatures.

Yeah, that would be a great idea.

I actually found the address (at least the one my wallet gives me):
http://explorer.biblepay.org:3001/address/BB2BwSbDCqCqNsfc7FgWFJn4sRgnUt4tsM

It's the same address on which the compassion.com superblock funds were deposited.


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #9 on: March 28, 2018, 09:04:56 am »
Yeah, that would be a great idea.

I actually found the address (at least the one my wallet gives me):
http://explorer.biblepay.org:3001/address/BB2BwSbDCqCqNsfc7FgWFJn4sRgnUt4tsM

It's the same address on which the compassion.com superblock funds were deposited.

That's odd. So then we will need to talk to Rob if we can put our address in there. Hopefully the proposal will pass this time.


  • 616westwarmoth
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Re: Biblepay Charity Commission - Revised
« Reply #10 on: March 28, 2018, 10:11:17 am »
I'm not opposed to the idea long term.  There is already a donate checkbox on the Send tab, publicizing the Orphan Fund address for donations might be advantageous.  I think you should split the proposal into two components.

Component one: Charity Commission, a level of oversight and distribution of the work load is  good idea.

Component two: Charity Fund.  This is the part I don't think is strictly necessary given we already have the Orphan Fund and I'm not clear on why we need another wallet / address to have additional donations to.


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #11 on: March 28, 2018, 10:16:41 am »
I'm not opposed to the idea long term.  There is already a donate checkbox on the Send tab, publicizing the Orphan Fund address for donations might be advantageous.  I think you should split the proposal into two components.

Component one: Charity Commission, a level of oversight and distribution of the work load is  good idea.

Component two: Charity Fund.  This is the part I don't think is strictly necessary given we already have the Orphan Fund and I'm not clear on why we need another wallet / address to have additional donations to.

Rob owns that address right now I think so there is currently no redundancy. One option would be for the commision to take over the compassion payments to offload it from Rob.

Splitting is a good idea, let's see how this proposal goes and split it into 2 if it fails again.
« Last Edit: March 31, 2018, 08:23:17 am by T-Mike »


  • togoshigekata
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Re: Biblepay Charity Commission - Revised
« Reply #12 on: March 28, 2018, 10:57:19 am »


  • T-Mike
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Re: Biblepay Charity Commission - Revised
« Reply #13 on: March 28, 2018, 11:04:55 am »
https://www.reddit.com/r/BiblePay/comments/7dtwx8/compassion_charity_accountability/

http://pool.biblepay.org/
Orphans >>> Expenses Paid
Orphans >>> Orphan Fundraisers

Togo, I meant for the address in general that there is no accounting for all the transactions, especially when we start taking donations.


  • Rob A.
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Re: Biblepay Charity Commission - Revised
« Reply #14 on: March 30, 2018, 07:03:32 pm »
Togo, I meant for the address in general that there is no accounting for all the transactions, especially when we start taking donations.

Hmmm- what do you mean there is no accountability to that address?    Every BBP received is recorded in SQL as a reconcilable expense, and then reported on the web site, and every BBP goes to compassion.  So this "commission" is set up to make the donations go to your personal wallet instead?  Im not sure how that adds accountability. 

The thing is, we sponsor 205 children at $8000 a month, we always need more donations for compassion.  Im just not understanding how realigning the donate-to-foundation address is going to ease my workload.  The accountability web site in my opinion is a big plus for auditors who want to see the expenses in one place.  You dont have access to write records to it, so I assume I would need to get with you every month and make 2 records and then have a 2nd orphan fundraiser etc, sounds like double the work.

Yes there is a report in the wallet that shows all the amounts tithed to the foundation address also, since we started.

What are your plans on spending this on, what type of charities?  What is the projected amount you are looking to raise per month?

The proposal itself is for only 2500 bbp.  So Im confused what its for - is this just to seek approval for the idea?




« Last Edit: March 30, 2018, 07:26:20 pm by Rob A. »