Categories: Bitcoin Politics

Andreas auction of ten trillion dollars… for charity!

Click here to view original web page at bitcoinmagazine.com


Andreas auction of ten trillion dollars… for charity!

Between the efforts of Jason King and Andreas Antonopoulos, Coins in the Kingdom might secure it’s place as the most charitable Bitcoin conference of the year. At the end of the first day of the conference, Andreas Antonopoulos was approached by Chris DeRose for a signature on a unique piece of numismatic history: a Ten Trillion Dollar Zimbabwe Reserve Note.

After the bill signing, Andreas was asked what charity he would most like to see a donation be given to. To this, Andreas responded “RAINN.” A few weeks thereafter, a charity auction commenced and is currently live at cryptothrift.com.

The auction is available to all members of the general public, and at the time of writing is currently selling at an approximate price of 500mBTC (half a Bitcoin). The details of the event, are clearly denoted in the item description alongside a note that all proceeds from the auction (and any funds sent to the custodian address) will be converted to fiat and donated to RAINN. Though dogecoiners are typically the ones credited for new and wacky twists on the charity scene, Bitcoiners aren’t without their own sense of creativity and civic duty.

In the bill being auctioned, alongside his signature, Andreas added the comment “Inflation Matters” to the bill. Certainly this quote neatly sums up the story of Zimbabwe’s ill-fated national currency. The story of the ten trillion dollar Zimbawe note, though incredulous, is nonetheless true. In the first decade of our millenium, the Republic of Zimbabwe was experiencing inflation at rates unparalleled by any other economy in recent years. During this period, inflation rose sharply between the early years of the 2000’s, up until the printing of the ten trillion dollar note, the last denomination that was printed, in April of 2009. Despite making inflation illegal in 2007 (yes, politicians really signed this decree into law), the government was unable to curb the runaway devaluation of its currency, and informally switched to using the US Dollar as its primary currency in 2009. As of today, an ‘unsigned’ Ten Trillion dollar bill is worth nothing past its novelty factor, and cannot be converted into any other currency.

As for RAINN, “Chelsea Bowers,” an official spokesperson of the organization suggested we re-iterate the organizations mission statement in our write-up of the auction. Their noble mission is as follows:

RAINN (Rape, Abuse & Incest National Network) is the nation’s largest anti-sexual violence organization and was named one of “America’s 100 Best Charities” by Worth magazine. RAINN created and operates the National Sexual Assault Hotline (800.656.HOPE and online.rainn.org) in partnership with more than 1,100 local rape crisis centers across the country and operates the DoD Safe Helpline for the Department of Defense. RAINN also carries out programs to prevent sexual violence, help victims and ensure that rapists are brought to justice.

When asked whether the organization intends to receive the funds in Bitcoin or fiat, Chelsea replied “At this time, we don’t have a [way] to accept Bitcoin (although it sounds like it’s something we should implement!).” Let’s hope our charity efforts leave a positive impression on RAINN, and shows the world that Bitcoiners are commited to leaving a positive impact on the world around them.

For more information on the auction, click here for the item listing.

Signed Ten Trillion Dollar Bill by Andreas Antonopoulos

Permalink: http://bitcoinmagazine.com/17757/andreas-auction-of-ten-trillion-dollars-for-charity/

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

The best ways to buy furniture online for Bitcoins

Overview Buying furniture for cryptocurrency For most of its existence, the Bitcoin community (BTC) believed that cryptocurrency would be a… Read More

5 hours ago

Bitcoin trades dangerously close to $10,000 mark

Bitcoin's (BTC/USD) rebound from August lows remains short-lived. Satoshi Nakamoto is said to reveal identity later on Sunday. A break… Read More

5 hours ago

Bitcoin Price Will Go From $20,000 to $50,000 by 2021: Analyst

Share Tweet Send Share Economist and crypto analyst Alex Krüger believes that $20,000 won’t be the all-time high (ATH) bitcoin… Read More

5 hours ago

Terrorists Turn to Bitcoin for Funding, and They’re Learning Fast

via Middle East Media Research InstituteSAN FRANCISCO — Hamas, the militant Palestinian group, has been designated a terrorist organization by… Read More

5 hours ago

Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes

For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun… Read More

5 hours ago

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More