3 ms·
> + several large institutions (e.g. California Federal pensions, cancer charity endowments, etc) that millions depend on have significant bitcoin holdings. Th
by chromatin 6y ago
> + several large institutions (e.g. California Federal pensions, cancer charity endowments, etc) that millions depend on have significant bitcoin holdings.
This is actually a key observation, and I hope that some crypto whales can see that it may be in their best interest to donate large amounts of crypto to some high-profile charities (or possibly University endowments?)
Not only would they get income tax deduction for charitable giving, if they donate the crypto directly (rather than converting it), they pay no capital gains on a conversion.
Plus, importantly, the philanthropic beneficiary -- ideally high profile -- is now invested in ensuring the survival of said alternative financial system.
- Rule35 6y agoTo make it effective you'd need to prevent the charity from cashing out. Perhaps make a dividend-paying instrument by continually re-loaning the base currency and taking the interest payment and converting them into a stablecoin which gets paid to the charity, but with no way to redirect the payments or convert it into a lump sum.