pull down to refresh
0 sats \ 1 reply \ @tomlaies 30 Aug 2023 \ on: What Bitcoin initiatives have you donated to? bitcoin
SHOULD we donate to Bitcoin projects? Bitcoin is a monetary system that is build on incentives - why should we do something against incentives.
- E.g. donating to the Tor project isn't donating - the product is free so it's paying for the project with an "pay what you want" amount
- If I use SN I'm not donating - I'm a customer paying with sats and time and content
- If wanted to back a project I wouldn't just want to give them money for free. I'd want a stake in the business or lend money with interest
So no, there is no "donating" in the classical sense
Wouldn't supporting runwithbitcoin be donating in the classical sense? I am donating money to him to support him. Same thing with Opensats. I donate sats to support projects I believe in. My incentives may be somewhat "selfish" in that I own bitcoin and want bitcoin to succeed. It isn't going against incentives to give away your bitcoin for these projects. In fact, my incentives are to promote the network as best I can so that it can grow stronger and step up to become the world's money.
However, the current version of donation to bitcoin projects is different than what it will evolve into. Currently, most of the bitcoin donations are to improve aspects of bitcoin through education, increased adoption, supporting developers, supporting research/legislation, etc, etc. They are all directly involved in promoting bitcoin rather than just using bitcoin as the currency for some other project.
Eventually, once bitcoin does catch on as the world's currency, then donations will be for similar things that people donate to now, just that the currency will be denominated in BTC rather than fiat.
reply