21–28 of 28 posts
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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.
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…
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.
Organizations which truly support Bitcoin would choose to spend it, not hoard it.
Earlier quoted context omitted.
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…
The price rose primarily because of the Willy bot, aka Mark Karpeles artificially inflating the price. Read the willy report.
Earlier quoted context omitted.
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…
The price rose primarily because of the Willy bot, aka Mark Karpeles artificially inflating the price. Read the willy report.
Earlier quoted context omitted.
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…
How are you going to ensure that you're legally compliant with "only $X per-year per-person" unless you keep track of who's making every Bitcoin donation to you? If you don't do that you could trivially go over the limit by just donating >$X over multiple Bitcoin transactions.
I started BTC donation, but they ask you for your name and address... what! Anyway I found out you can go through with a bogus name and address.