11–20 of 28 posts
I remember that there were multiple userbase attempts to lobby Wikimedia for this in the past. Looks like Coinbase's recent partnering successes have made the difference, in this case at least.
Looks like coinbase.com is not loading at the moment. Is it conceivable that this crashed their site?
Two thoughts: 1) About time! You'd have thought a crowdsourced open source software community would have adopted Bitcoin sooner. 2) Why does the Coinbase donation form require my email and mailing address? Just give me a QR code.
Earlier quoted context omitted.
If this donation is tax deductible, I expect it is so they can send you a receipt. Still, an anonymous option would be nice.
They also are legally required to collect donor information for donations above $1,000 [1]. Mostly this is to ensure that nonprofits aren't playing weird games with funneling money around, e.g. being registered as a 501(c)(3) charity but actually being funded mainly by one person who also controls the board/spending. Maybe they can rework the donation flow so it allows anonymous donations below that limit? But if tha…
If you don't do that you could trivially go over the limit by just donating >$X over multiple Bitcoin transactions.
You mean, "Wikimedia now uses Coinbase as another payment provider to collect US currency for donations"?
It's that you can donate in BTC that matters, not that they're exchanging it for USD.
Organizations which truly support Bitcoin would choose to keep it.
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It's that you can donate in BTC that matters, not that they're exchanging it for USD.
It matters. Automatically exchanging large amounts of BTC for USD creates a downward pressure on the BTC exchange rate. Organizations which truly support Bitcoin would choose to keep it.
You mean, "Wikimedia now uses Coinbase as another payment provider to collect US currency for donations"?
Imagine they accepted Japanese Yen instead of Bitcoin. They would still convert it to USD, but would your opinion still make sense?
Earlier quoted context omitted.
It's that you can donate in BTC that matters, not that they're exchanging it for USD.
It matters. Automatically exchanging large amounts of BTC for USD creates a downward pressure on the BTC exchange rate. Organizations which truly support Bitcoin would choose to keep it.
Why? Because as Bitcoin is accepted in more and more places, it increases its subjective value, so more and more people are looking to get some bitcoins, which counterbalances the downward selling pressure.
Earlier quoted context omitted.
It matters. Automatically exchanging large amounts of BTC for USD creates a downward pressure on the BTC exchange rate. Organizations which truly support Bitcoin would choose to keep it.
If what you said was true the exchange rate would have collapsed in the last 2 years (BitPay and Coinbase accumulated 60,000+ merchants who began accepting Bitcoin over the last 2 years and most of them automatically convert BTC to USD). But instead, the exchange rate rose from $10 to $580: http://bitcoincharts.com/charts/bitstampUSD#rg730ztgSzm1g10z... Why? Because as Bitcoin is accepted in more and more places, it…