Topic: Bitcoin donation vs Bank donations - page 2. (Read 1109 times)

Possible but not sure if anyone will bother to ask for it. I used to have a monthly direct debit with an organization who were looking after children in Africa. Every once in a while I used to receive thank you card from the children with the copies of the creative art works they were doing, a letter from the organization to thank me and other updates.

I never bothered to ask them for more. Those regular updates were enough for me to have this feeling that they are working know that the organization also runs with the money we donate.

This summarizes the issue. Thank you.
I guess it is because of my lack in English vocabulary that I suffered to explain thoroughly. 

If not, the receiving end will do the cut. The middleman as they call it before it goes to the charity institute.
As I said, somehow it could also end the corrupted part. It may not be entirely but a little change will do.

They don't need to be force but for transparency purposes, they can publish their bank statement if those who donate will request for it, doing so will add some confidence to the people who donate that they also have a right to audit. I know for charity purposes most people who give donations does not ask for liquidation, but a per or institution who accept donation has the responsibility to be black and white.

From my personal experience I can say that many organitations are still not accepting Bitcoin as donation. Reasons for that are volatility, lack of regulation, strict rules for donations and similar. So,it's actually hard to find someone who accepts Bitcoin or other cryptocurrencies as donation.
I think it's better way than to.go through the banks but better conditions for something like that should be enabled first.

With crypto, we still have few decades to go if not centuries for everyone to recognize crypto like they do fiat these days. And when we are talking about a charity it really is the trust you put to the organization with the good faith that the donations you are making will be given to the purpose they are raising the funds. I do not think anyone will be forced to show you their bank statements.

Bitcoin donation is more secure when it comes to accounting, but majority of the people trust banks than blockchain as only few of us are educated with crypto, and also, they will always consider the volatility of crypto which is risky if the price will go down, if there is a stable coin, then probably that is the best choice.

Facts like this must be known by the public, so that many people have an open mind. And realize bitcoin donation is more reliable
than a bank donation. Indeed, the problem of the donation bank is very difficult to trace for channeling funds, and is very open to
corruption occurred. With bitcoin being more transparent, then donors are more calm in entrusting their funds. Therefore I am very
happy when institutions like UNICEF receive donations with cryptocurrency, hopefully other charities can follow footsteps UNICEF.

I have personally sent several donations for one of the projects listed in the OP, and I can say that I am completely satisfied with the degree of transparency achieved by donating in this way. On the other hand, I avoid any large so-called charities like UNICEF, whose members receive huge salaries for their work, and of course instead of helping children share profits with banks.

Of course when we talk about charity on this forum we can also talk about it being done by people who have a certain reputation and trust, which is only complemented by the use of publicly displayed transactions. Of course, this does not mean that every charity project outside the forum would be really fair and honest just because it uses BTC as a means of donating. Although this way of donation narrows the possibilities of manipulation, in the end it all comes down to who manages these funds.

I have to admit that I have really high criteria when it comes to charity projects, and that I have a zero tolerance rate towards those who exploit children, the sick and the weak for their own self-interest. In real life, I always help directly, which means that I give into the hands of those I see that they really need, which I would definitely recommend to everyone instead of sending money to so-called humanitarian organizations (of course there are some exceptions).

One address sucks, it ruins privacy, and people who make donations deserve privacy, especially if they are donating to a cause that might be illegal in their country, like protesting against tyranny, for example.

And a statement doesn't guarantee that funds are not being embezzled, it all can easily be faked. A better way to be safe is to donate goods instead of money.


We all here know how high can Bitcoin fees sometimes get. When it comes to small donations, Bitcoin fees can be as high as the sum of donation itself, meaning that Bitcoin is at that moment is a worse option than banks.

Again, it is partly about taxes.

When doing donations in fiat (bank), you need to know the country tax policy of organization you are donating to. For example, if a physical person makes a donation in my country, and the amount exceeds 5000 EUR/month (I need to recheck it if really needed), that this donation counts as "donation organization gains profit" and they need to pay 2-5% tax from it. When legal entity does same - they also need to pay a tax. (yes, our government will never been poor).

When sending a donation in bitcoin - you don't face that kind of stupidness.

Also, using Bitcoin guarantee that you are sending more money to those charities. The moment when you use third party services like Banks they change you Bank fees and a percentage of your donation ends up in the pocket of the #@$#* Banks!

When you transfer those bitcoins directly into another Bitcoin address, much less fees are applicable for that transaction and if the receiver pay with bitcoins for the goods and services, then more money goes to the goal of that charity.  

Global Bitcoin payments are much cheaper and faster than most global transfers with money transmitters and also some Bank services.  

Bank does not have a public ledger since they always protect the privacy of their clients depositors, therefore we will not know if the amount was move or not, and even if those people whom we entrust our donation will give us a picture or a copy of the bank statement, it's still not 100% reliable as we can't verify it and nowadays, pictures can easily be fake through photoshop or whatever apps that will be use.

In blockchain, it's a system that no one can tampered, so it's more transparent and I trust bitcoin donation for that.

I think you don't have to worry too much because if charities or the bank do not distribute the money to people who needed, people will know by themselves. That smell will be in the air, and that can make people will understand, and they will select the right charities. So no matter what charities or bank that you want to use to donate your money, if you wish to use bitcoin or fiat money to donate, make sure you can know the credibility of the charities. So charities cannot run away the money because they know that their charities are watching by many people.

The choice is an easy one to make for any donor who understands both techs — crypto and banking. Donating crypto is an easy pick for me. I like to see things done transparently if am participating in it. Again, the donations controlled by the  above mentioned forum members has again shown how honest humans can be once they set their minds to it. Kudos yo all.

i have not donated a single cent in any charitable works this pandemic season mate because Our Whole family decided
to do it on our own,me and my wife serves as the free
 hand to deliver the goods while some of our relatives and family members contributed to buy essential goods and foods
 to help community near us,because there are depressed
area next to our Subdivision that badly needed help so what we did is at least every week we organized helping 20-30
 families ( of course the way we can afford only because
 we also have some struggles now) and happy that for the past 2 months we manage to
 help more than 300 families.

---

About the question you made OP?for me personally i would agree with your stand that to have more transparency we
 must at least let them Give audit each time so we
 know where the funds are going.but i will still prefer Bitcoin donations on this because we can easily
follow the flow of transactions.

Yes, having thoughts about that.
I guess I just screamed my own opinion which is also convenient for me.
The fact that I see my bitcoin transaction completed takes out the worry of it going to wrong hands.


Which is why it will depend on them to secure the wallet.
If the funds grows to unimaginable heights then, they can use the donations to add more security.
As long as the transparency will be preserved.

You have some nice points there, is good to be able to track the money and to know when the founds were spent, +1 for bitcoin donations.

But it is important to remember that some donations groups becomes targets of the hackers, and it has happen in the past that the donations found get stolen.

That's why you should donate to exchanges that are well known, just like the Red Cross, Save a Child, and other big foundations. You're right about banks, there is no way to trace the donations out have made. It's up to the foundation you donated to to keep updating those that donated to them through their social pages or whatever medium they choose to do so, on what the donated money are being used for. Apart from that, there is no way you can tell. And big foundations don't stress themselves with updating you on how the money is being spent, you just got to trust them since that's the work they have been doing for years.

Using Bitcoin and Blockchain is still a good idea. You will be able to see where the money you donated are being sent to and how they are being spent, but you can't really tell what exactly it was used for , if you're not told, you will only be watching the money move from one address to another lol.

If we talk about donations, people will have their own opinion, and I am sure that they will choose whatever they feel convenient, whether they will use bitcoin or fiat money to donate. People will care about where the charities will distribute their money or people will let the charity to choose where they will give the money to help the people.

When you prefer to use bitcoin for the donation, then you can continue while other people who choose fiat money for the donation, they can still continue as what you did. The point is we do a great thing by donating some money to help other people, and I am sure that the charities will donate to the right people.

Doesn't need to be like that.
One address for all the bitcoin donation.
If something gets out, there should be a statement into where it will go or be donated.

I think everything will still depend on the one who is managing the charity which is like the example above.
They move the number of bitcoin but there is always transparency into where it will go.