[Arm-netbook] EOMA68 / Libre RISC-V team financing

Sam Huntress samhuntress at gmail.com
Fri Dec 29 16:13:10 GMT 2017

> you mean, starting e.g. from here:
>   https://bitclubpool.com/index.php?p=stats
> and here:
>   https://www.blocktrail.com/BTC/pool/bitclubnetwork

Yes, exactly.

The blocks they are mining are being awarded to
And blockchain.info does record those blocks as being found by Bitclub. So
Bitclub does seem to have significant new BTC coming in.

As long as you trust that whoever you sent money to does actually represent
Bitclub, further verification does not seem necessary.

I do understand that $3500 isn't exactly backbreaking for this project, it
just makes me anxious to see anyone start buying in so fully to things that
seem 'too-good-to-be-true'

On Fri, Dec 29, 2017 at 10:34 AM, Luke Kenneth Casson Leighton <
lkcl at lkcl.net> wrote:

> ---
> crowd-funded eco-conscious hardware: https://www.crowdsupply.com/eoma68
> On Fri, Dec 29, 2017 at 3:00 PM, Sam Huntress <samhuntress at gmail.com>
> wrote:
> > We all seem to be talking past each other and I fear we may have some
> > confusion about what a ponzi scheme actually is.
> >
> > In a ponzi scheme, money is taken from 'investors' under the false
> pretense
> > (lie) that it will be used to fund operations with a positive return on
> > investment when actually that money is just stashed and given back out to
> > 'investors' as a fake 'return' on their 'investment'.
>  ... down the tree until it collapses, yes.
>  apart from the US Federal Reserve Ponzi scheme that was
> cascade-created in 2007 by issuing UNREGULATED bonds a THOUSAND times
> larger than the entire U.S. Govt regulated market at the time and so
> consequently it is still in the process of collapsing, what's the
> largest ponzi scheme that's ever been recorded in human history?
>  in that historically-recorded ponzi scheme, what order of magnitude
> of money changed hands? (ignoring the multi multi trillion dollar 2007
> US Fed Res ponzi scheme)
> > In this case, the investments they claim to be making are almost 100%
> > traceable and provable. The Bitcoin ledger can be used to see which
> wallets
> > all mined bitcoins have gone to and Bitclub can use standard
> public/private
> > key signatures to verify that they own one or more of those wallets.
>  you mean, starting e.g. from here:
>    https://bitclubpool.com/index.php?p=stats
>  and here:
>    https://www.blocktrail.com/BTC/pool/bitclubnetwork
> > If Bitclub cannot provide this verification then they may not be
> > technically competent enough to make good investments.
> > Given that they already have your money, the best thing to do is hope
> that
> > whatever they are running (legitimate or not) holds up long enough for
> you
> > to get back what you put in.
>  sam you underestimate the scope of what i seek to achieve here.  i'm
> looking to leverage this so that the team of engineers can be paid for
> to design the RISCV-64 SoC, the eco-conscious smartphone can be paid
> for, and in about a year to 18 months time a foundry line of chips can
> be paid for - outright.
>  i'm certainl not "looking to get back $3500" that's for sure!   and
> *i* am not *personally* looking to get back money beyond that which is
> sufficient to live on: i am looking to leverage this to fund some
> absolutely amazing...
>  ... projects.
>  including REPLACING bitcoin.
> l.
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