Topic: Crypto donations (Read 383 times)
This is the type of transaction fee we are all hoping all our transactions will get to. Donating crypto to charity organization is alright but do the charity organizations know how to use or exchange the bitcoin.
It is good development that charity donations can be given in cryptocurrencies. This is showing the gradual acceptance of the currency in the world
Give me your opinions on the fact that you can give a donation in cryptocurrency and the fee is minimal and the transaction is instant. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
This is unreal. The transaction fee should always be proportional to the amount sent, having a transaction fee of $0.10 is unbelievable and exaggerated. I'm active trader and so far did not encounter that kind of low transaction fee and so it is unreal. If that is true by any means may i know what platform is that? what exchange or application are used. https://coinedtimes.com/crypto-donations-helping-charities-do-good/
There are some people who want to remain anonymous when it comes to donation. No need to be famous or popular. Just a simple way to express sincerity in helping humanity. Cryptocurrency is a perfect way to do that.
the fees and all that are good but one important thing that is overlooked for bitcoin donations is always the transparency of it. for example one of the problems with charities is that people always to know what the charity did with their money. did they actually spend it on what they were supposed to or did they waste it or worse stole it!
with bitcoin you can keep track of where the money has gone and how much and where it was spent.
with bitcoin you can keep track of where the money has gone and how much and where it was spent.
can you? i mean, we can see the donation address and outputs being spent from it, but it's hard to know where it was spent. they could send coins to an exchange for legitimate reasons---to cover payroll, expenses. or they could be sending coins there to sell so they can pocket the fiat. if they steal the money, we would all be clueless from looking at the blockchain.
Give me your opinions on the fact that you can give a donation in cryptocurrency and the fee is minimal and the transaction is instant. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
A transaction like this is just a glimpse of what the potential is for BTC and crypto. For it to 100% succeed and become fully adopted we need for it to be convenient to use for the several small transactions people will be making day in day out (like buying their morning coffee for example). We need it to get to a stage where it can withstand millions of people making these transactions day in day out seamlessly and cheap.
bitcoin is not designed to be used for people to buy day to day coffee so unlike what you think, it doesn't really need to have that capability "to succeed". bitcoin is aiming at being a decentralized, censorship resistance and boarderless payment system and is succeeding at that. and this is why it has a lot of potential and the current price drops don't matter at all.
with that said, bitcoin is now have that capability to be used for day to day "micro" transactions by millions of people through the second layer solution called Lightning Network. and already some merchants have integrated it in their system and have been accepting payments for months.
The thing is no one will bat an eye about the fact that it was transferred to that fee. It was the amount of BTC he had to transfer.
Surely it's for the benefit of mankind right?
Surely it's for the benefit of mankind right?
the fees and all that are good but one important thing that is overlooked for bitcoin donations is always the transparency of it. for example one of the problems with charities is that people always to know what the charity did with their money. did they actually spend it on what they were supposed to or did they waste it or worse stole it!
with bitcoin you can keep track of where the money has gone and how much and where it was spent.
with bitcoin you can keep track of where the money has gone and how much and where it was spent.
Bitcoin offers other advantages besides a relatively, and momentarily, cheap fee. Blockchain allows an easy audit system for these institutions. You can see exactly and instantly how much an institution has received if it uses a single address. Even a follow-up of how it was spent could be done. Imagine the following situation: A campaign to raise money to buy food for a particular African country.
People would donate to a single address. And from this address, previously registered local business entities would receive the resources to gather food baskets. All the companies involved could be registered using a specific and public address.
A map could be constructed demonstrating exactly the use of all the resources.
People would donate to a single address. And from this address, previously registered local business entities would receive the resources to gather food baskets. All the companies involved could be registered using a specific and public address.
A map could be constructed demonstrating exactly the use of all the resources.
Give me your opinions on the fact that you can give a donation in cryptocurrency and the fee is minimal and the transaction is instant. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
A transaction like this is just a glimpse of what the potential is for BTC and crypto. For it to 100% succeed and become fully adopted we need for it to be convenient to use for the several small transactions people will be making day in day out (like buying their morning coffee for example). We need it to get to a stage where it can withstand millions of people making these transactions day in day out seamlessly and cheap.
Isn't that amazing? I think this should be great example for bitcoin usages benefits! If i am none bitcoin user after i read that news i would directly but some bitcoin and try to send my transaction with BTC. Anormous differences with the fee. If i send $194 million in my country banks, i have to pay like $1000.. We have to spread this news with every one, in every platform. I am going to share this new in my social media accounts.
That's one of the advantages of bitcoin, with transactions in large amounts but only requiring low costs. Every user must feel comfortable and certainly efficient. It was very special and it should have been if many people wanted bitcoin. I hope this will provide a positive example for new users who want to have bitcoin in their wallets as a future investment. Thank you to all of you.
Give me your opinions on the fact that you can give a donation in cryptocurrency and the fee is minimal and the transaction is instant. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
in my opinion this is another way of fooling the public, for funding and charity why not use official institutions. Isn't our goal just to know that our money has been handed over and we don't need to know what our money is to be used for. I prefer to donate in the form of USD because when they receive our money, that value doesn't change
In the future maybe, bitcoin to fiat conversion would not be necessary
But what about the unpredictable ups and downs in the price of BTC & other coins? It would not be possible to completely stop the use of fiat.
on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
Such a big amount of money transferred at such a low transaction fee is really remarkable.. Also the transfer time is quite less. 
Give me your opinions on the fact that you can give a donation in cryptocurrency and the fee is minimal and the transaction is instant. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. OMG
https://coinedtimes.com/crypto-donations-helping-charities-do-good/
it is very helpful to each other, with large withdrawals but the transaction costs are very very cheap, but I have never used that service, is this real? if that is true, crypto's life will grow better in the eyes of the world https://coinedtimes.com/crypto-donations-helping-charities-do-good/
one of the special things and it was very extraordinary, I can't imagine a very large number. I was afraid to hear that.
this is one of the advantages of bitcoin.
this is one of the advantages of bitcoin.
Bitcoin is a very efficient tool for donations and other humanitarian services, it's fast and efficient and maintains the anonymity of the user. It's also borderless and not subject to taxations in many countries.
And the transaction fee is independent of the amount being moved as long as I still in the same currency, but converting bitcoin to fiat, cost a percentage of the amount being exchanged, and it varies from one exchange to another.
In the future maybe, bitcoin to fiat conversion would not be necessary
And the transaction fee is independent of the amount being moved as long as I still in the same currency, but converting bitcoin to fiat, cost a percentage of the amount being exchanged, and it varies from one exchange to another.
In the future maybe, bitcoin to fiat conversion would not be necessary
Isnt it amazing to see such transactions with large amount that we can move with a lower fee?
We dont have to use the banks as for them, it takes few days and fee is quite high.
We dont have to use the banks as for them, it takes few days and fee is quite high.
That's especially great when you have some super heavy situation where the funds are needed at the moment. Surgeries and stuff.
You'll see that this has the potential to make those big fish start using bitcoin instead of the wire bank transfers. They'll save a lot of money for fees and time for receiving.
The fee actually depends in the transaction size and the current network condition so the amount you're sending has nothing to do with it. They prolly have sent it when the mempool is in its calm mode-- basically less unconfirmed transactions.
And this is wrong.
And this is wrong.
Quote
Cryptocurrencies, on the other hand, offer instant transactions with minimal fees. For example, on October 16, 2018, a Bitcoin user moved 29,999 BTC worth $194 million for a fee of $0.10. It doesn’t matter whether you’re transferring your crypto next door or to the other side of the world; the fee stays the same. That makes crypto donations ideal for large foreign aid campaigns.
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