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21 sats \ 7 replies \ @cryptocoin OP 14 Apr 2022 \ on: Wikipedia community votes to stop accepting cryptocurrency donations | Ars Technica bitcoin
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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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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There was one positive to this:
@web3isgreat, which points out De-Fi hacks, will be a great follow!
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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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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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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