Topic: Bitcoin donation vs Bank donations - page 3. (Read 1155 times)

Naively implemented Bitcoin donating (one static address) has horrible implications for privacy. Anyone sees the list of all donators and can use it to try to trace them. And if donating is done right, i.e. unique address for each donator, then it losses all the benefits that you described.

Also, Bitcoin doesn't magically give transparency, you will most likely see that your recipient sent coins to exchanges, after which you'll have no idea what they did with them.

Donations via bank have a ton of flaws, and Bitcoin donations are better but for different reasons - they are immutable and global.

I respect your opinion.

It is not really about every penny that will be spent.
What I am trying to say is the visibility of the funds in bitcoin.

If they move 1 BTC then we could use the power of asking, of course in a good way and not like we are already accusing them.
How the money was spent. They don't need to provide every detail like prices of each.
Just transparency on to whom or where it was given should suffice.

I bet they would love to do that, for a possibility of more donations to come.

1.Donating money only because other people are donating seems pretty conformist to me.
2.Knowing how much money is collected is a great social proof and can motivate more people to donate,but I think that it's easy to get information about bank account donations.Just request a bank statement about the bank account that receives the donations.
3.The money spent from the bank account,which is receiving the donations can also be tracked by requesting a bank statement.

Charity is always a good thing,if the money are spent for the actual charity project and not stolen.
It doesn't matter if it's bank donations or crypto donations.

I just don't like the concept on how much they spend the funds they collect in their campaigns since the only thing we can see is the distribution but the internal things like auditing and others is none visible, maybe this bank donation is good but for now I prefer with bitcoin donations since the legit project creator provides the receipt on where did they use the funds and there are frequent updates regarding on the remaining balance and what is their plan for it.

Yeah i get your point now mate,and also i see the real good thing in this is we will not encourage people to commit mistakes and bad moves because of our silence.

It is not that they will take advantage of the situation but if we will not look at them,in some cases(only small chances) than one may be prone to making wrong decision .

So having this they knew that some Eyes are on their movement and they need to take good care of each steps and maintain the Goodwill .

Hoping That even a single cent will go to the much needed people.

Your concern is right. You can't trace if you donate through bank but you are able to trace bitcoin. Do you believe this is enough to ensure about transparency of charity organizations? I don't think so, because you are only tracking unspent amount, but what about when the organization will cashout to spend it? Your tracking will end after cashout. I am really not against bitcoin donations but expressing opinion about your concern. That means you have to trust the organization who are recognizing for charity either you are paying by bank or with bitcoin. The main positive thought about bitcoin donation is you are helping on bitcoin adoption. Because I believe those organizer organizing charities from bitcointalk likely they are introducing bitcoin to more new people who aren't aware about it. I have to admit one thing that it's our responsibility to ensure about where spending our funds as much as possible.

Exactly.
I guess it will take a long time before they will start accepting the crypto currency option, particularly bitcoin.
I don't blame them, after all it will depend with the government too.

Whoa!
One more thing we should check out.
When we donate, we want to check if it did went it to the receiving end.
In bitcoin, we could see if there are confirmations.

Both donations through banks and bitcoin have their own advantages and disadvantages. I just want to stress out that there are some people that want to remain anonymous when donating. And that is what bitcoin can offer, I like the way you state about the transparency of the funds but what more important is when charities are posting the actual proofs of donation by showing photo documentation including the budget plan of each activity.

Though bank donation is also possible, it is just that, bitcoin donation made it easier for cross nationality to help each other by sending unified currency which is bitcoin.

Here's some Characteristics of bitcoin we can take advantage in terms of Donation:

Isn't the very fact that we donated through them, whether it be Bitcoin or Bank, mean that we trust that institution to actually put our donations to good use? I mean, yes, I've doubted banks more than once in a few instances but really, it isn't like we can do much to it when we've donated it already. We can only trust them to actually do something about it. It's difficult to show transparency since sometimes that transparency can just be a simple facade tbh, and we're actually already getting scammed right under our noses.

Still, Bitcoin donations could be a great option provided its transparency. Although on the other hand, even if there's only a minuscule of a chance of it happening, I think people/Institutions can still find some ways to take advantage of it. Idk how, but really, what we can do is limited by our imagination right?

Bank donations, I like the idea of, we see how much the other has spent without knowing who they really are just some list of the funds that have collected throughout the campaigns. With this list, I encourage myself to give even more in the future because I see the campaign to help the needy is working as planned. I see some charity foundation has made something like this and they also post their successful event made possible by the collected funds. However, in Bitcoin donation, you won't know who gave that huge amount of money unless they emailed you about it. I also like the Idea of helping without showing off yourself you gave those huge amounts of money.

This is a really interesting topic.  I run charity auctions on here, normally to help out with current issues in our society ( auctions for honey bees in the past, this year just recently ran several for the Australian wild fires).  One thing that is really obnoxious is the lack of accepting of cryptocurrency.  It would be nice to see where it is going and how it's being used, but I'm not sure that's possible quite yet.  I would just like it to be accepted for timely payments. I donated to wires.org.au through paypal, and it is going to take anywhere from 7-20 some days to transact.  Thats fucking crazy, for a charity?! 

Bitcoin is more transparent and you will actually know if the money has been used for the better while in banks the only one who controls the money is the banker and the owner of the bank account that later he can use to send it to some dummy accounts.
That's why i dont trust charities when it comes to donation.

The best feature of Bitcoin is transparency.

Every transaction is recorded on the internet and can be verified without any issue. Whereas fiat donation is not transparent it is completely hidden and there is no ways to verify it.

But. Fiat donation also comes with few benefits and one of he best benefit is excemption from tax. If you directly donate to a trusted organization you do not need to think about transparency.

As far as how much has been donated, how much has been withdrawn, when these transactions were made, how much is the balance, and so on and so forth are concerned, everything is very wide open for Bitcoin. Every donor can check that for himself/herself. As to bank donations, it is very hard to have access to such information. There is the bank secrecy law so you cannot just inquire how much is deposited in the donation account. Bitcoin is definitely much better as far as transparency is concerned.

There are other factors of course. But what I like the most with these charity initiatives such as cabalism13's and CryptopreneurBrainboss' is that all their efforts in buying the goods, repacking, delivery, and so on are done for free.

I am not against bitcoin donation but you can't totally rely on blockchain transaction to know maybe the the money donated for charity was actually used for the course unless you are physically present during the utilization of the donation so that you can have a balance statement about how the money donated is utilized. people embezzle funds and yet they provide accurate statement of how the money was spent. It happens in government too. budget is being padded and it went through many financial institution without been noticed. This is a serious issue that is being studied globally https://www.researchgate.net/publication/335431030_Budget_Padding_Causes_and_Solutions

That's okay with me.
We have our own different opinions when it comes to this kind of movement.

I personally love the idea of being anonymous.
But I want to see what will happen afterwards.
I know some charity are doing it because they love helping others, but some just don't.
Maybe this could just minimize the "don't" part.

The problem for a long time now.

i am with Bitcoin donation still mate,thought he transparency is not that much but at least i am protected with my personality.

And i believe that once i donated my money?i won't bother asking where did they use my donation because i gave them my money in Good faith so whatever they do with that is beyond their control,and i will just hope that they will do the right thing.

Sorry mate but we have different views in this matter but i support you position,I really do.

I think the transparency from the organization is not really dependent on whether they use bitcoin or fiat. Some charity orgs share their spending via monthly magazine, pamflet, or if a donator ask them. So putting that aside, I agree that if you use fiat then you need more trust. It's impossible for public to track how many donation were made even if the address were known, so that's the downside.

You could push them to accept bitcoin but then they'll probably need to talk with the government, and the legal issue is going to be discussed for some time.

That's the good thing of having a digital ledger where you can monitor every transaction happening from that address as you can always see what is coming and going from that address. However I would say that blockchain is a double-edged sword, I know that a lot of people now are already looking at the transaction history of addresses and sometimes this is used in a bad way from scams and fake projects, they will often send out Bitcoin or any other crypto to themselves to make it look like this project/scam is still active just to fool people, a lot of HYIP and Doublers do this as well either in the real blockchain or a fake one showing in their website.

1. After donating a certain amount of money, do you want to know if others are doing the same thing?
I do. It encourages me to do it again when I see everyone doing the same thing.
2. Do you want to know much is the collected amount?
I do.
3. How about an idea of how much they spent?
Yes.

Some may say, "You are helping, why question the aftermath?".
I do care and that's why I want to see where it will end up.
In my opinion, that's being a responsible donator.
Maybe this could also end corruption in charities. Let's face it, it's happening everywhere.

Kids are innocent and have pure heart. What if they asked you to donate their savings for a certain place which was hit by a disaster?
As an adult it is your duty to be responsible for the outcome of it.
So that, if they will ask again what happened to their donation, you can answer them as best as you could.
You teach and you learn.

So, I tried to compare how it's done in BTC against bank donations.
Here are examples of our great forum member's initiative to help Covid-19 infected and affected people.
Project Covid-19: An approach to support the Bitcoin community
by: Royse777
Project Covid-19: Supply to 50 families in Nigeria outside my community {Update}
by: CryptopreneurBrainboss
[SERVICE] Julerz's Campaign Management [Fee will be donated]
by: julerz12
Bitcointalk Charity Program Signature Campaign - Give Hope To Everyone...
by: cabalism13

Let's use the program of cabalism13 as an example.
The amount of bitcoin received for cabalism13's charity program is being escrowed by bl4nkcode at this address.
1CHAriTyyuCzLdXshSDVohyjgxTxW9Bhx
Now, it's easy to track it. Just go to a trusted block explorer and search it.
https://blockchair.com/bitcoin/address/1CHAriTyyuCzLdXshSDVohyjgxTxW9Bhx

If you donated the funds through bank accounts. How will you track the balance of it?
I have no idea. I haven't used banks for a long time.
I just know there is an account privacy so you will need to have permission from the owner (please correct me if I'm wrong) unlike my example above.

Another good thing:
Transparency once again.
cabalism13 will cash out some of the bitcoins to buy necessities for the selected charity.
Read the whole thread I linked above and you will see how transparent they are for every satoshi they will spend.
One example:
https://bitcointalksearch.org/topic/m.54523001

After all my rumbling, what did you realize?
Is donating through bitcoin better than using banks or digital money services?
Have you ever ask yourself how your donations were used?
Had you been a responsible donator or just blindly doing it?

Stay safe and healthy. Share your love and make others smile even in these bad times.

PS: I am not their promoter but I had already seen a lot of corruption and scam charities.
Trust me, this is a better choice.