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The 26.9 now dead bitcoins could have done a lot more good had they been sent to a charity or nonprofit instead.

by bakoo 3y ago

Hamuko 3y ago
What charities take Bitcoin?
- lazyasciiart 3y ago
  At least a few that I know, actually! Example: https://msf.org.au/donate/crypto https://msf.org.au/donate/crypto
- majewsky 3y ago
  All of them after you convert it into fiat through an exchange.
  - lxgr 3y ago
    Hopefully before, since otherwise you might end up paying a totally avoidable tax bill.
- nullc 3y ago
  Plenty do, https://www.eff.org/pages/other-ways-give-and-donor-support https://www.eff.org/pages/other-ways-give-and-donor-support All charities do if you open a Fidelity Charitable account and fund it with Bitcoin. :) In the US it is tax adventitious to donate appreciated assets, including Bitcoin. (or even especially bitcoin as few other assets have appreciated as much) It's often not highly promoted-- usually posed on an 'other ways to give' catch-all as it appears to have a slightly negative effect on conversion rates (I've heard there is some evidence that accepting bitcoin sends prospective donors off on a rabbit hole of learning about Bitcoin).
- lxgr 3y ago
  Hopefully every well-managed one. Regardless what your views on Bitcoin are, accepting donations of appreciated assets just makes a lot of sense from a tax optimization perspective: The donor gets a write-off of the current market value, while the (nonprofit) charity can sell the appreciated assets without incurring capital gains or income tax. At least that’s the case for stock donations in the US.
- master-lincoln 3y ago
  https://thegivingblock.com/resources/nonprofits-accepting-crypto-donations/ https://thegivingblock.com/resources/nonprofits-accepting-cr...
- voidee 3y ago
  WCK is one of the best run charities providing food in otherwise hopeless catastrophes and wars. https://thegivingblock.com/donate/world-central-kitchen/ https://thegivingblock.com/donate/world-central-kitchen/
jampekka 3y ago
Maybe the transactor didn't deem that they should have the power to decide what's "a lot more good"? There are a lot of "charities" that IMHO do mostly "bad". Also charity itself is problematic: should those with money get to decide how and what problems are focused on? https://www.bbc.co.uk/ethics/charity/against_1.shtml https://www.bbc.co.uk/ethics/charity/against_1.shtml

The 26.9 now dead bitcoins could have done a lot more good had they been sent to a charity or nonprofit instead.

by bakoo 3y ago

The 26.9 now dead bitcoins could have done a lot more good had they been sent to a charity or nonprofit instead.

Hamuko 3y ago

What charities take Bitcoin?

lazyasciiart 3y ago
At least a few that I know, actually! Example: https://msf.org.au/donate/crypto https://msf.org.au/donate/crypto
majewsky 3y ago
All of them after you convert it into fiat through an exchange.
- lxgr 3y ago
  Hopefully before, since otherwise you might end up paying a totally avoidable tax bill.
nullc 3y ago
Plenty do, https://www.eff.org/pages/other-ways-give-and-donor-support https://www.eff.org/pages/other-ways-give-and-donor-support All charities do if you open a Fidelity Charitable account and fund it with Bitcoin. :) In the US it is tax adventitious to donate appreciated assets, including Bitcoin. (or even especially bitcoin as few other assets have appreciated as much) It's often not highly promoted-- usually posed on an 'other ways to give' catch-all as it appears to have a slightly negative effect on conversion rates (I've heard there is some evidence that accepting bitcoin sends prospective donors off on a rabbit hole of learning about Bitcoin).
lxgr 3y ago
Hopefully every well-managed one. Regardless what your views on Bitcoin are, accepting donations of appreciated assets just makes a lot of sense from a tax optimization perspective: The donor gets a write-off of the current market value, while the (nonprofit) charity can sell the appreciated assets without incurring capital gains or income tax. At least that’s the case for stock donations in the US.
master-lincoln 3y ago
https://thegivingblock.com/resources/nonprofits-accepting-crypto-donations/ https://thegivingblock.com/resources/nonprofits-accepting-cr...
voidee 3y ago
WCK is one of the best run charities providing food in otherwise hopeless catastrophes and wars. https://thegivingblock.com/donate/world-central-kitchen/ https://thegivingblock.com/donate/world-central-kitchen/

jampekka 3y ago

Maybe the transactor didn't deem that they should have the power to decide what's "a lot more good"? There are a lot of "charities" that IMHO do mostly "bad". Also charity itself is problematic: should those with money get to decide how and what problems are focused on? https://www.bbc.co.uk/ethics/charity/against_1.shtml https://www.bbc.co.uk/ethics/charity/against_1.shtml