One of the problems I found with this is that actually taking donations is hard work. I live in a country completely unsuited to making money from a hobby project on the side. To take donations I'd need to register as self-employed, and pay monthly for social security as long as I'm registered, even if I make no revenue whatsoever in that month. That's an absolutely awful idea for a project just getting started. I'd…
This is one area where cryptocurrencies are useful. Don't need anything other than a wallet address.
And what about when you want to spend that money? At some point you have to declare that income and be taxed and the government doesn't care if you were paid in euros, bitcoin or seashells.