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Watsi cofounder here. We're extremely grateful for this support. It's going to enable us to help a lot of patients access healthcare. I also think it's great fo

Watsi cofounder here. We're extremely grateful for this support. It's going to enable us to help a lot of patients access healthcare. I also think it's great for the crypto community as a whole. Thank you, Pineapple!

giarc 9y ago
Do you immediately convert to USD (or whatever currency) and spend, or do you hold as an investment?
- runeks 9y ago
  Holding for a charitable organization would not be an investment, but speculation, and would be irresponsible, in my humble opinion (because you’re gambling with donations). The people who choose to donate should get full value from their donation. So, until one can buy goods with bitcoin and pay omes employees with it, holding it when you have an obligation to buy something with it amounts to speculation.
  - mpfundstein 9y ago
    You can do all of these things already. In Europe at least. I have a TenX debit card that I can use everywhere VISA is accepted! Bought iphone and car with it
    - usaphp 9y ago
      I guess spending $84 mln is quite different from just buying an iPhone
      - anonymous5133 9y ago
        What he is saying is you can hold BTC and then when you spend it, the BTC gets converted to fiat at the time you spend it. In other words, you can save in BTC instead of immediately converting to fiat. This allows you to take advantage of BTC's deflationary attributes.
    - IanCal 9y ago
      That's not spending BTC on something, that's selling BTC then buying things in your local currency. Until prices are regularly set (and stable) in BTC, holding 80+M in BTC is a huge risk.
      - mpfundstein 9y ago
        But I don't have to go through coinbase or whatever in order to buy it. I can hold Bitcoin, and if I feel like I want to buy something I can do so. If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate.
        IanCal 9y ago
        You're holding BTC, then selling to get dollars and buying in dollars, effectively. > If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate. Yes, and here you're holding Euros and selling them to buy dollars to buy items. Similarly, if you were mostly doing business in the US, picking a different fiat currency to hold your money in would be a risk and that risk would increase the more volatile the exchange rate is. The key point here is that until the prices you're paying are stable values in BTC, there's significant risk in holding a currency different to what your contracts are in. If I have $10,000 dollars and have a contract that requires me to pay out $5,000 dollars next year I know I have enough. If I have 0.5 BTC and the same contract then I do not know if I have enough.
nitinsingla0999 9y ago
I simply love Watsi, you guys are so transparent with your financials. I hope you guys start accepting cryptocurrencies soon.
cheeze 9y ago
Thank you for what you do. Donating to Watsi and getting the updates about people that I've helped is one of the highlights of my day to day life. Shameless plug for Watsi incoming... Consider donating monthly. They don't spam you and your money is going to a great cause. https://watsi.org/monthly https://watsi.org/monthly

giarc 9y ago

Do you immediately convert to USD (or whatever currency) and spend, or do you hold as an investment?

runeks 9y ago
Holding for a charitable organization would not be an investment, but speculation, and would be irresponsible, in my humble opinion (because you’re gambling with donations). The people who choose to donate should get full value from their donation. So, until one can buy goods with bitcoin and pay omes employees with it, holding it when you have an obligation to buy something with it amounts to speculation.
- mpfundstein 9y ago
  You can do all of these things already. In Europe at least. I have a TenX debit card that I can use everywhere VISA is accepted! Bought iphone and car with it
  - usaphp 9y ago
    I guess spending $84 mln is quite different from just buying an iPhone
    - anonymous5133 9y ago
      What he is saying is you can hold BTC and then when you spend it, the BTC gets converted to fiat at the time you spend it. In other words, you can save in BTC instead of immediately converting to fiat. This allows you to take advantage of BTC's deflationary attributes.
  - IanCal 9y ago
    That's not spending BTC on something, that's selling BTC then buying things in your local currency. Until prices are regularly set (and stable) in BTC, holding 80+M in BTC is a huge risk.
    - mpfundstein 9y ago
      But I don't have to go through coinbase or whatever in order to buy it. I can hold Bitcoin, and if I feel like I want to buy something I can do so. If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate.
      - IanCal 9y ago
        You're holding BTC, then selling to get dollars and buying in dollars, effectively. > If I order something with my CC in the US, prices are also denoted in dollars. But it withdraws from my Euro account with respect to a specific conversion rate. Yes, and here you're holding Euros and selling them to buy dollars to buy items. Similarly, if you were mostly doing business in the US, picking a different fiat currency to hold your money in would be a risk and that risk would increase the more volatile the exchange rate is. The key point here is that until the prices you're paying are stable values in BTC, there's significant risk in holding a currency different to what your contracts are in. If I have $10,000 dollars and have a contract that requires me to pay out $5,000 dollars next year I know I have enough. If I have 0.5 BTC and the same contract then I do not know if I have enough.

nitinsingla0999 9y ago

I simply love Watsi, you guys are so transparent with your financials. I hope you guys start accepting cryptocurrencies soon.

cheeze 9y ago

Thank you for what you do. Donating to Watsi and getting the updates about people that I've helped is one of the highlights of my day to day life. Shameless plug for Watsi incoming... Consider donating monthly. They don't spam you and your money is going to a great cause. https://watsi.org/monthly https://watsi.org/monthly