Topic: Bitcoin as Means of Donation (Read 566 times)

The use of bitcoin for donation is a good step. It will add a good reputation of bitcoin that Different NGOs,s, and welfare societies are accepting bitcoin. It means is that the use of bitcoin for the welfare of humanity, the poor and hungry people of the third world is going to start. It will not only improve its acceptance but also make it more popular in the world.

This is not actually new for the creation of bitcoins are for decentralized transactions. Acceptance makes the difference. For donations, it will be as easy as online payment considering the applications and platforms that promotes and accepts cryptocurrencies.

Yeah, I was surprised when I first learned of the openness of bitcoin that not many donation sites accepted it, things have changed a lot in just these last couple of years, let's see how decentralized financing can help keep outside people from these organzations in the loop of what's being done with the money, so that's nice.

Bitcoin for charity is also perfect. Right now in these times of crisis. Because the collection can be more effective and can respond to the needs when the time factor is important.

https://www.google.com/amp/s/cointelegraph.com/news/charities-are-turning-to-bitcoin-amid-the-global-fight-against-coronavirus/amp

I wasn't aware there was a need for people to make crypto donations and in BTC also. And by donations I do not mean donations to other members but instead a charted organisation like charities  In any case, these should in theory be possible through a smart contract though I'm not sure about the legislation side of things...

Hello everybody. Of course, bitcoin, and especially any cryptocurrency that is easy to implement on the cryptocurrency exchange and has a very low transaction price, is one of the ideal means for accepting donations, especially for multinational charitable foundations. Here, of course, we can say that the transaction value of Bitcoin may be a barrier to the receipt of humanitarian aid to the recipient's account not all 100 percent. Let me note that many countries do not have bank agreements and the transfer of fiat money, in this case, will be more expensive than the cost of a bitcoin transaction. Everything is relative. But the fact that many charitable foundations accept cryptocurrency as a donation, once again proves that the crypto community is increasingly filling the financial space. Including, therefore, more and more people will learn about cryptocurrency and the population's confidence in bitcoin is growing.

Well thats a very good news i didn't know till now that bitcoin can be used for donations its really really good with this the bitcoin will become more popular and maybe everything will try to get their minds towards bitcoin hope this will lead to more users towards bitcoins.

I'm not against donation or charity since it's main purpose is to help those people in need however using bitcoin as means of donation is already like a gift for me. Why use bitcoin when you can easily convert it into fiat or some relative digital currency like USDT? bitcoin as a donation is like giving gold already, and I doubt if the person you have given bitcoin would not spend that if he knows how much potential it has in the market in the few more years from now.

Donations succesfuly work and help to save lives, or develop some projects or technologies. Why not to use Bitcoin for this? In some way it may give you some benefits. You may send coins directly in BTC without conversion and without losses on enormous fees. And it is great that such organizations accept BTC like the means. It seems to me that it is a positive signal for the BTC's adoption by the society.

Not only it would help them receive payment from this option, but to create awareness about Bitcoin. I like the fact that these nonprofit organizations and charity programs are now starting to accept Bitcoin for donations.

If I were to have my own charity foundation later on, I would not hesitate to include Bitcoin as one of the payment methods aside from centralized payment processors like Paypal. Since I'm into cryptocurrency and blockchain advocacy, I would like to see more of these nonprofit and charity organizations use Bitcoin and other cryptocurrencies.

For me, it's all about massive adoption. Even if Bitcoin is just a decade older than the other cryptocurrencies, it's still young in the financial market. Not exceeding 1% of the world's population are adopting Bitcoin.

I think so...because they know that many people are using cryptocurrency and they take advantage on it. Well, there's nothing wrong with is as long as it use for good because bitcoin is money. Also through those foundation ,bitcoin and cryptocurrency well become more and more popular to others.

This is not true, 1sat/B rarely takes even a day, i have been doing 1sat/B transactions for the past year. You should try it more often, i have even had one such transaction confirm in 30 minutes, something like a couple of hours is more common. 6 hours is uncommon and more is rare.

There is no hassle in donating bitcoin, its simply getting their address and sending funds. In fact every other method is more cumbersome, and usually requires login, etc. The OP example is using a payment processor, which makes it overkill, but i guess that means they never get bitcoins but fiat.

"Fluctuation" is not an issue and humanity is going to learn this once their fiats start collapsing. Bitcoin is rock solid next to my country's fiat, for example. You live under an illusion thinking those top fiat coins can never collapse, you have already seen the US administration printing money to "aid" people giving them an universal wage. You think they could keep doing this forever and nothing happens? Every extra dollar you add that wasn't before is building pressure for a massive inflation, they have extra leverage compared to most countries, as too many foolishly trust the USD but even the USD isn't immune to collapse, its a time bomb that's ticking, and when it crashes it will pull down many other fiats with it.

Look at bitcoin staying around 7k during this pandemic, while everything else went down. Its an excellent performer. People will learn to save in bitcoin and don't pay attention to daily, weekly or monthly fluctuations. Look further ahead and average the price. Fluctuation is a symbol of freedom.

Bitcoin ks prominent nowadays because of its consistency and persistence in ths virtual world. Not just in giving people the opportunity to gain money, but to help other individual cater the same opportunity they had. And I guess because of this Pandemic, it won't be bad to make Bitcoin as a form of Donation.

Bitcoin is cash. Obviously  it may be given out as an alternative by beneficent establishments and associations for those that have an enthusiasm to give and might want to execute utilising Bitcoin. the extraordinary thing about Bitcoin gift is that you essentially can monitor it. you perceive the overall population address of the foundation so everything is incredibly straightforward. you besides may realise whether it's now moved or spent and to which address it's moved. Gifts in fiat don't give that include.

This can be one good marketing strategy to give a good image to the general public. News on TV and similar media are often hyperbole in providing news and facts that exist in the crypto world, so that ordinary people are often affected and consider that crypto is dangerous. With positive activities through fundraising with bitcoin can have a positive impact, but its effectiveness must also be considered, because BTC is very volatile, prioritizing donations to the right target and functioning optimally. Some local crypto communities in my area also often do charity activities, social services, etc., this is a very positive activity.

Of course, fiat is more effective. But here, the OP also discusses the good effects of bringing BTC at once in charity work, to provide positive support, and can be a simple educational tool to the general public that BTC can also be used for that. Well, it requires more complex management and will be distributed directly in the form of "more acceptable" for example in fiat or basic needs and other needs, but this option can be well considered.

As for my opinion, donating bitcoin would just ruin the institution or the charities plan. Imagine if these homes have 100 kids yet their bitcoin value in total could just afford to buy for 75, tomorrow 60 the next day 150. See my point? the volatility is really the problem on which we cannot really handle even a bit handy. Fiat is still the best means of donation, and it will not give added cost like transaction fees for conversion and can directly spend.  On top of these things, who will donate bitcoin if the price could double the next week?
I agree that you should use lower fees if your transaction doesn't need to be done right away, but 1sat/B is so low it would take a week or more to process the transaction. You don't need to give half of the transaction for fees, but don't be so cheap, 50 cents on a tx of 10$ isn't that bad, you wont go broke.
See the hassle if we donate bitcoin? Much better if we donate a direct object or ready to use stuffs. Transaction fees are harder to manifest with different phase of the market.

It is good that you can donate Bitcoin, but cash is still a major payment method for donations. This will help, but if you really want to donate you can give cash, so I don't think it will help a lot, unless most people dom't use fiat.

I agree that you should use lower fees if your transaction doesn't need to be done right away, but 1sat/B is so low it would take a week or more to process the transaction. You don't need to give half of the transaction for fees, but don't be so cheap, 50 cents on a tx of 10$ isn't that bad, you wont go broke.

You can add that up.

But, don't we really lack merchants?
It became an investment because of that. There is no usage. So what will you do? Do you have a choice? You will just keep it.
As if I will go to Japan just to maximize the usage of my bitcoin.
Hell, I will be kicked out of that country in just weeks of staying there.
That is the problem.

Donating is not. As long as it is for something good and real.
You know why people lack the confidence to donate? Scams, thieves, and abuse. That is why.8

Bitcoin as means of donation, why not? It does not have that much difference with donating a fiat coz you can easily convert it into fiat. Bitcoin has become the most friendliest coin of all time, it gives a lot of help in financial terms and we came across to a point where it can be donated to charities and different institutions. But with times like this, we better be wise if we are going to donate bitcoins or fiat.

No, it is not the merchants that we lack off, we lack of confidence to donate or even use it as most people are just making it as an alternative investment.

It's like admitting bitcoin is a real currency. But yet, they are those who are still hard headed telling it is not.
It is just something which is created for pyramid scamming or whatever they call it.
I don't get it. 

Well, donation is a good chance for bitcoin to easily say it is money.
It can be used to buy something or anything else just like how fiat will do.
In the end though, it is merchants which we lack.