An individual whose BTC holdings (that they are willing to give away) are worth almost 100 million. Mind blown...
Pineapple Fund: Donating $86M of Bitcoins to Charity
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Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#12I'd love to know what the Electronic Frontier Foundation does exactly with millions and millions of dollars in donations. Based on Wikipedia it awards money to rich people with powerful computers for finding new prime numbers. But it seems to me the other charities are much more deserving.
They're like the ACLU for technology topics
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#13I'd love to know what the Electronic Frontier Foundation does exactly with millions and millions of dollars in donations. Based on Wikipedia it awards money to rich people with powerful computers for finding new prime numbers. But it seems to me the other charities are much more deserving.
There are three general buckets of work that EFF does. All three are focussed on protecting user's online rights to free speech, security, and privacy - but each achieves that result in a different way:
* Legal: Taking on precedent-setting cases (e.g. establishing code as a form of speech, overturning Betamax Doctrine, challenging censorship laws). Full list is here: https://www.eff.org/victories
* Technology: Helping launch projects like LetsEncrypt (now its own org), Privacy Badger, Certbot, Panopticlick, Democracy.io, HTTPS Everywhere.
* Advocacy/activism: Pushing state & federal legislatures in the US and around the world to pass laws that protect user's rights, and not to pass laws that would harm them. Also to push regulatory bodies (e.g. FCC) similarly.
(I'm a Tech Fellow at EFF but not speaking for the org in any capacity)
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#14It's hard to sell large amounts of bitcoin. Most banks, when they see an incoming wire transfer for $10M marked "bitcoin" will run a mile and close down your account.
Hopefully by 'donating' it to these charities, who will probably choose to sell slowly over time or hold it, that alleviates the problem.
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#15It'd be nice if some of the money were used to make it easier for charities to convert to cash as quickly as possible. Bitcoin pointlessly consumes so much dirty energy, I imagine many environmental charities see bitcoin akin to blood money.
https://blog.bitcoin.org.hk/bitcoin-mining-and-energy-consum...
While some coal in landlocked and inaccessible locations is fired up in an environmentally unfriendly process to mine Bitcoins, most miners are powered by hydrogen dams, geysers and other geothermal energy sources that cannot be transported or stored.
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#16It'd be nice if some of the money were used to make it easier for charities to convert to cash as quickly as possible. Bitcoin pointlessly consumes so much dirty energy, I imagine many environmental charities see bitcoin akin to blood money.
This meme needs to die. Keeping the lights on tens of thousands of banks and keeping hundred of thousands of servers running transaction processing cost a lot of electricity too. Efforts are underway to get rid of dirty energy because the costs of renewable and battery storage are so much cheaper that this is a non-issue.
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#17I'm curious - is this making charitable donations in lieu of taxes on the gains?
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#18Speaking of charities, are most of them transparent and accountable with the funds they receive? I’d like to see a ledger of where every cent given to charity was used / spent.
That'd be silly to tie such an obligation to support one of the purported most valued parts of blockchain..
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#19It's hard to sell large amounts of bitcoin. Most banks, when they see an incoming wire transfer for $10M marked "bitcoin" will run a mile and close down your account. Hopefully by 'donating' it to these charities, who will probably choose to sell slowly over time or hold it, that alleviates the problem.
[citation needed]
Re: Pineapple Fund: Donating $86M of Bitcoins to Charity
#20I'm curious - is this making charitable donations in lieu of taxes on the gains?
I think you should do a little research on how cap gains taxes interact with charity, it's not how you think.