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Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

meta.wikimedia.org

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Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#21

Post by unicornmama »

devoutsalsa wrote: post #18
unicornmama wrote: post #16

Earlier quoted context omitted.

> I know nothing about wiring money to Ukraine You go to your bank and ask them to start a wire transfer. The recipient’s bank will provide the instructions. You can even do this entirely online.

My physical bank is in a different country. As a crypto enthusiast, I’m obligated to migrate to a remote tax haven full of like minded nut jobs.

So you chose to unbank yourself :)

I have transacted millions in crypto and wire transfers. Banking with crypto is like the 1970s - exorbitant fees. To do anything useful with it I have to offramp to fiat which drum rolls ends with a wire transfer.

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#22

Post by mardifoufs »

colesantiago wrote: post #2

This is great news, it is pretty pointless to use cryptocurrencies at all anyway since for Wikipedia: > Crypto was around 0.08% of our revenue last year, and it remains one of our smallest revenue channels. Remember that Wikipedia is one of the top 10 websites on the planet, I'm also assuming that other websites trying to accept crypto have even smaller percentages rendering cryptocurrencies as payment useless, not t…

Just for context, that's still 140 00$

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#23

Post by aaron695 »

Wikipedia is on a knife edge. It can flip quickly. I'm not sure what they are doing to keep it stable, but this is a bad sign.

This should not be up to a vote. Wikipedia is there to be an encyclopedia, not have opinions on currency.

People should be prepared for when Wikipedia becomes the enemy.

F-Droid, DDG, Cloudflare all flipped at points.

The problem is if Wikipedia treats themselves like a democracy with no strong constitution and legal system once these decisions on morals start, we all know where they end up, the same as Twitter.

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#24

Post by lhl »

For those interested in charitable giving with crypto, I set up a decent-sized on-chain Donor Advised Fund with https://endaoment.org/ the end of last year. There are rough corners and it's still early days, but I'm able to give to basically any arbitrary 501c3 in the same way using a dapp interface now, which is pretty sweet. You can setup a DAF via crypto w/ either Schwab or Fidelity as well (and others I'm sure).

I also did a bunch of year end donations through https://thegivingblock.com/ which allows non-profits to easily receive donations via hundreds of different crypto assets and is pretty seamless for both parties (you fill in your tax info once, get an automated tax receipt letter, the receiving party gets automatic cash auto-conversion (if they want) and donor info).

Also, generally not tax deductible, but I'm a big fan of what https://gitcoin.co/ is doing with sybil resistant quadratic fund matching. Generally, not tax deductible, so I keep my donations small (using either zkSync or Polygon to save on fees) but for the latest GR13 funding round, top grants were getting up to 10:1 matching (mostly Ukraine crisis response campaigns - UNICEF got a whopping 37X match btw!) https://gitcoin.co/blog/grants-round-13-round-results-recap/

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#25

Post by jdrc »

colesantiago wrote: post #2

This is great news, it is pretty pointless to use cryptocurrencies at all anyway since for Wikipedia: > Crypto was around 0.08% of our revenue last year, and it remains one of our smallest revenue channels. Remember that Wikipedia is one of the top 10 websites on the planet, I'm also assuming that other websites trying to accept crypto have even smaller percentages rendering cryptocurrencies as payment useless, not t…

So this is not great news at all, a totally inconsequential and pointless move for signaling virtue (look at the arguments given), which is contrary to wikipedia's aim to be neutral

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#26

Post by onion2k »

charcircuit wrote: post #3

It's Wikipedia's loss. If they had actually took bitcoin donations since they added it in 2014 they would have appreciated quite a bit.

Would a non-profit in the US be legally able to accept donations and then hodl them in case they appreciate in value? I think a Corp doing that in the UK would lose it's non-profit status.

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#28

Post by Karrot_Kream »

garbagetime wrote: post #8
colesantiago wrote: post #2

This is great news, it is pretty pointless to use cryptocurrencies at all anyway since for Wikipedia: > Crypto was around 0.08% of our revenue last year, and it remains one of our smallest revenue channels. Remember that Wikipedia is one of the top 10 websites on the planet, I'm also assuming that other websites trying to accept crypto have even smaller percentages rendering cryptocurrencies as payment useless, not t…

There just isn't the incentive to use cryptocurrency to donate to Wikipedia. For some other kinds of payments, such as gambling payments, cryptocurrency is a popular option.

If the speculation in crypto is being fueled by crypto chasing non-fiat exits (as you imply wrt gambling payments), then isn't it silly to cut off that tap? Value is fungible, it shouldn't matter whether it's a Wikipedia donation or a "gambling payment".

Re: Wikipedia RFC to stop accepting cryptocurrencies passes by majority vote

#30

Post by jdrc »

mardifoufs wrote: post #22
colesantiago wrote: post #2

This is great news, it is pretty pointless to use cryptocurrencies at all anyway since for Wikipedia: > Crypto was around 0.08% of our revenue last year, and it remains one of our smallest revenue channels. Remember that Wikipedia is one of the top 10 websites on the planet, I'm also assuming that other websites trying to accept crypto have even smaller percentages rendering cryptocurrencies as payment useless, not t…

Just for context, that's still 140 00$

> In the last financial year we received $130,100.94 worth of donations in cryptocurrencies.
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