Wikipedia community votes to stop accepting cryptocurrency donations | Ars Technicaarstechnica.com/tech-policy/2022/04/wikipedia-community-votes-to-stop-accepting-cryptocurrency-donations
81 sats \ 9 comments \ @cryptocoin 14 Apr 2022 bitcoin
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10 sats \ 0 replies \ @kilianbuhn 14 Apr 2022
Pretty sad to see. I thought open source & privacy/anti big tech foundations like Mozilla & Wikipedia were on our side. Hopefully Signal, Tor etc are not next
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21 sats \ 7 replies \ @cryptocoin OP 14 Apr 2022
The foundation received crypto donations worth about $130,000 in the most recent fiscal year—less than 0.1 percent of the foundation's revenue, which topped $150 million last year.
Ultimately, 232 long-time editors of Wikipedia voiced support for ending cryptocurrency donations, while 94 opposed the move.
US tax law gives advantages to those who donate an asset directly to a charity.
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0 sats \ 6 replies \ @cryptocoin OP 14 Apr 2022
Here's an archive for that article, which may be easier to read:
Wikipedia community votes to stop accepting cryptocurrency donations https://archive.ph/clFRC
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0 sats \ 5 replies \ @cryptocoin OP 14 Apr 2022
US tax law gives advantages to those who donate an asset directly to a charity.
What that is referring to:
Your tax deduction will be equal to the fair market value of the donated bitcoin (as determined by a qualified appraisal).
Your gift to charity will be larger because instead of paying capital gains taxes, the 501(c)(3) charity will receive the full value of your contribution.
Donating Bitcoin and Other Crypto to Charity https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-bitcoin-to-charity.html
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0 sats \ 4 replies \ @cryptocoin OP 14 Apr 2022
There was one positive to this:
@web3isgreat, which points out De-Fi hacks, will be a great follow!
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0 sats \ 3 replies \ @cryptocoin OP 14 Apr 2022
The author of this Ars Technica post was an early bitcoin hater, but then he reformed, kind of.
Here's one of his earliest posts on Bitcoin (if not his earliest). Good times.
Illicit uses aside, the demand for Bitcoins seems to be driven by a combination of speculation and ideological enthusiasm. And we have a word for an asset whose value is driven by irrational exuberance: a bubble. I predict this one will pop once the novelty wears off.
The Bitcoin Bubble http://timothyblee.com/2011/04/18/the-bitcoin-bubble/
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0 sats \ 2 replies \ @cryptocoin OP 14 Apr 2022
The "bubble" he was referring to was when the bitcoin price jumped 5X in a matter of months and the BTC/USD had reached the melt-your-face level of something like $1.20 or such.
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0 sats \ 1 reply \ @cryptocoin OP 14 Apr 2022
Months ago there was a post on SN regarding Requests for comment:
Requests for comment - Wikipedia considers to stop accepting cryptocurrency donations #7732 https://meta.wikimedia.org/wiki/Requests_for_comment/Stop_accepting_cryptocurrency_donations
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10 sats \ 0 replies \ @gunson 14 Apr 2022
Really interesting to read the discussion here. There’s some solid and cogent push back from informed Bitcoiners. But ultimately, it seems that people voted based on their prior beliefs.
If you scroll through the actual votes, almost every vote in favour of ending Bitcoin support cites the environmental concern. So, still the biggest FUD then.
I really value Wikipedia, and have donated monthly to them for years (via recurring debit card payment). Just cancelled that, and did a full year donation via their Bitpay. Will continue to value Wikipedia but will have to stop donating once they actually remove Bitcoin support.
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