How does taxation/deduction work on bitcoins which were not a taxable asset when originated but are maybe sort of an asset now that they're being given away? Is this donation of magic beans deductible now that the IRS has maybe started to notice? I'm pretty sure that it wouldn't have been deductible a year ago.
Pineapple Fund's $56M Giving Spree
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Re: Pineapple Fund's $56M Giving Spree
#22Noob question here: You receive $1mil in bitcoin as someone who knows nothing about bitcoin...then what? Do you sell it? Do you need to go find someone to sell it to? I'd imagine you can't just go to an exchange and unload $1mil in bitcoin as most exchanges have limits on how much you can trade at once without more advanced accounts?
I think you can open an Institutional account at one of the exchanges like Gemini or Kraken and have them unload it for you slowly.
Re: Pineapple Fund's $56M Giving Spree
#23For people who skip the article and go straight to the comments. This is indeed about the Pineapple fund [0]. [0] https://pineapplefund.org
I have a question, how can you register a website by being anonymous ? I don't understand, anyone care to explain ? Thanks.
It's hosted by Github pages which only needs an email address and is free so no billing info. Domain requires payment and stuff but you can easily use whois privacy protection. Looks like they use "Whois Guard Protection".
In the end they are relying on both whois guard and the domain registrar to keep their anonymity.
Re: Pineapple Fund's $56M Giving Spree
#24For people who skip the article and go straight to the comments. This is indeed about the Pineapple fund [0]. [0] https://pineapplefund.org
I have a question, how can you register a website by being anonymous ? I don't understand, anyone care to explain ? Thanks.
Most domain registrars allow you to add "privacy protection" for a nominal fee, which basically replaces your name under the WHOIS registrant info with theirs instead of yours. While this effectively shields outsiders from discovering who you are, the registrar likely knows the information of the original buyer...
Re: Pineapple Fund's $56M Giving Spree
#25Really great to see MDMA research (MAPS, Multidisciplinary Association for Psychedelic Studies) get funded by Pine. MDMA seems to be a high potential therapy.
I hope the next crypto philanthropist funds other psychedelic research, e.g. Heffter Research. https://heffter.org/ Psilocybin and classic psychedelics also seems to be very high potential - e.g. for addiction [0], problem solving/creativity [1], and for depression/anxiety [2].
[0]: https://hub.jhu.edu/2014/09/11/magic-mushrooms-smoking/
[1]: https://thethirdwave.co/psychedelics-creativity/
[2]: https://www.nytimes.com/2016/12/01/health/hallucinogenic-mus...
Re: Pineapple Fund's $56M Giving Spree
#26The source of the funds should be a concern for the charities involved in my opinion. I find the recipients a little quick to praise the donor with little being said about how the bitcoins were obtained. Maybe this information was simply not made public, and that would be fine if there was due diligence. However the fact more established institutions did not receive gifts is an eyebrow raiser: it is more likely these…
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Re: Pineapple Fund's $56M Giving Spree
#27These are cryptocurrency gifts, right? How would the recipients realize the money from them, or would they treat them as assets to hold?
I believe that many/most organizations have policies to convert unstable assets asap.
Re: Pineapple Fund's $56M Giving Spree
#28Has the wallet (or wallets) they have been sending from been revealed?
Edit: They link to the transactions on the pineapple fund site
Re: Pineapple Fund's $56M Giving Spree
#29Earlier quoted context omitted.
I have a question, how can you register a website by being anonymous ? I don't understand, anyone care to explain ? Thanks.
It's hosted by Github pages which only needs an email address and is free so no billing info. Domain requires payment and stuff but you can easily use whois privacy protection. Looks like they use "Whois Guard Protection". In the end they are relying on both whois guard and the domain registrar to keep their anonymity.
Oh thanks! So it means it's not completely anonymous, someone at the registrar can lookup the info if I got this rigth?
Re: Pineapple Fund's $56M Giving Spree
#30For people who skip the article and go straight to the comments. This is indeed about the Pineapple fund [0]. [0] https://pineapplefund.org
I have a question, how can you register a website by being anonymous ? I don't understand, anyone care to explain ? Thanks.
Hire someone to represent the fund, and have them do the registration for you.