mmalmi@cc.hut.fi wrote:
Good news: I received the donation of $3600. At least the hosting costs are no problem anymore.
That’s great! I’ll let him know it was received and thank him.
It might be a long time before we get another donation like that, we should save a lot of it.
Spend what you need on hosting. Email me a simple accounting when you take out money for expenses, like: -$60 rackspace monthly $2540 balance
What do you think of the idea to offer rewards of $100-200 to the first 5-10 established companies that start accepting Bitcoin? We’d also assign them a dedicated support person to help with integration. I have companies like prq.se, ipredator.se, relakks.com or perfect-privacy.com in mind. We could also make the offer public.
$100-200 is chump change if they’re a serious company, it would only make us sound small.
What they need most is confidence they can convert it to fiat currency. That VOIP company essentially said so in a recent post. The best thing we can do is make sure there’s cash available to cash out and support and steady the conversion rate.
The money is leveraged better that way too. Theoretically, imagine 10 businesses have their eye on a $100 bill being offered for bitcoins, but don’t actually cash out because they know it’s there if they need it. That one $100 bill allowed 10 different people to act like their 5000 bitcoins were equivalent to $100.
I think we should allocate $1000 at this point to your exchange.
Source: Published by Martti Malmi on GitHub in February 2024 as part of his testimony in the COPA v. Wright trial. The full correspondence archive is available at mmalmi.github.io/satoshi/.