What do you guys think of fundraising with BTC?

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: _Miracle on June 16, 2014, 05:50:10 PM

It's a great idea to fund raise with bitcoin and now that the IRS has figured out how to tax it; we should be able to write off our
charitable donations too ;-)

Charitable donations would be a great thing if you have bitcoin that has significantly appreciated and you would donate to charity anyway and you have other, additional income.

My understanding of the tax law regarding donating appreciated property is that you can take a deduction for the full value of the asset and do not pay any taxes on the gains that you had.

For example:
Suppose you bought one bitcoin for $10
Today that same bitcoin is worth $600
If you were to sell that bitcoin on coinbase you would owe taxes on the $590 in profits
If you were to donate that bitcoin to the redcross then you would take a $600 deduction on the value of the coin and would not owe anything for the gain

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: skottiejay on June 16, 2014, 10:10:23 PM

Quote from: TheLittleDuke on June 16, 2014, 04:18:21 PM

Our doabitofgood.com fundraise is on right now:

http://startsomegood.com/doabitofgood

We also offer to let people show their support in any one of Bitcoin, Litecoin, Dogecoin, Feathercoin, Givecoin, and CleanWaterCoin via our "#bit4bit" matching donor fund if they want to:

https://doabitofgood.com/bit4bit

In our Crowdfunding campaign instead of the usual swag of tee-shirt and coffee mugs which just sap funds (and don't we have enough of them already??) -- we're offering supporters various reward levels of Givecoins so that they can help us bring about what we hope will become a "virtuous cycle" in charitable giving.

I spent a ton of time looking around for a well managed BTC based donor site, but they all seem like either "abandoned" or just start-up/proof of concept.

Kickstarter rejected us right away. StartSomeGood seems to be very "pro-social" so that's where we thought we'd get a good audience.

David Duccini
Executive Director
doabitofgood.com

maybe you can help me in my extreme circumstances get my life restarted after suffering from traumatic ptsd, panic and anxiety and being unable to leave the house, work or do anything for the past several years. that'd be nice, but i don't think too many people would believe my story considering "panic and anxiety disorder" rates pretty low in things people care about and isn't well recognized, and has a stigma against it when it comes to illness. it's pretty sad, i suffer day in and out, i've lost my health care, and i'm living with family but i'd really like to come back into the world and do something on my own, get my own place and start contributing to society again. unfortunately because of naysayers people would only think i'm trolling to get money

Learn computer skills dude. HTML, Wordpress, etc... You can work from home then.

skottiejay

full member

Activity: 140

Merit: 110

bitcoinnaire

Quote from: TheLittleDuke on June 16, 2014, 04:18:21 PM

Our doabitofgood.com fundraise is on right now:

http://startsomegood.com/doabitofgood

We also offer to let people show their support in any one of Bitcoin, Litecoin, Dogecoin, Feathercoin, Givecoin, and CleanWaterCoin via our "#bit4bit" matching donor fund if they want to:

https://doabitofgood.com/bit4bit

In our Crowdfunding campaign instead of the usual swag of tee-shirt and coffee mugs which just sap funds (and don't we have enough of them already??) -- we're offering supporters various reward levels of Givecoins so that they can help us bring about what we hope will become a "virtuous cycle" in charitable giving.

I spent a ton of time looking around for a well managed BTC based donor site, but they all seem like either "abandoned" or just start-up/proof of concept.

Kickstarter rejected us right away. StartSomeGood seems to be very "pro-social" so that's where we thought we'd get a good audience.

David Duccini
Executive Director
doabitofgood.com

maybe you can help me in my extreme circumstances get my life restarted after suffering from traumatic ptsd, panic and anxiety and being unable to leave the house, work or do anything for the past several years. that'd be nice, but i don't think too many people would believe my story considering "panic and anxiety disorder" rates pretty low in things people care about and isn't well recognized, and has a stigma against it when it comes to illness. it's pretty sad, i suffer day in and out, i've lost my health care, and i'm living with family but i'd really like to come back into the world and do something on my own, get my own place and start contributing to society again. unfortunately because of naysayers people would only think i'm trolling to get money

TheLittleDuke

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Quote from: _Miracle on June 16, 2014, 05:50:10 PM

It's a great idea to fund raise with bitcoin and now that the IRS has figured out how to tax it; we should be able to write off our
charitable donations too ;-)

Not to mention any thefts or losses ;-)

_Miracle

hero member

Activity: 912

Merit: 661

Do due diligence

It's a great idea to fund raise with bitcoin and now that the IRS has figured out how to tax it; we should be able to write off our
charitable donations too ;-)

TheLittleDuke

legendary

Activity: 1024

Merit: 1004

Our doabitofgood.com fundraise is on right now:

http://startsomegood.com/doabitofgood

We also offer to let people show their support in any one of Bitcoin, Litecoin, Dogecoin, Feathercoin, Givecoin, and CleanWaterCoin via our "#bit4bit" matching donor fund if they want to:

https://doabitofgood.com/bit4bit

In our Crowdfunding campaign instead of the usual swag of tee-shirt and coffee mugs which just sap funds (and don't we have enough of them already??) -- we're offering supporters various reward levels of Givecoins so that they can help us bring about what we hope will become a "virtuous cycle" in charitable giving.

I spent a ton of time looking around for a well managed BTC based donor site, but they all seem like either "abandoned" or just start-up/proof of concept.

Kickstarter rejected us right away. StartSomeGood seems to be very "pro-social" so that's where we thought we'd get a good audience.

David Duccini
Executive Director
doabitofgood.com

skottiejay

full member

Activity: 140

Merit: 110

bitcoinnaire

Yeah most people only think of how it would profit them, not of what cause it's going towards. That's kind of a sad way of thinking, although some cool stuff has come out of it (games, etc) a lot of really good causes have come around and people automatically assume it's gonna be "take the money and run"

Velkro

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people fundraise only when they gain something back, thats sad, but most bitcoin fundraising is for promoting bitcoin, good cause is second target only

skottiejay

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bitcoinnaire

Your last quote is definitely true, I fell for it through twitter a couple of years ago a dude begged people to help him out for months because he was in a bad relationship and needed out and needed to move, and wanted everyone to help him restart his life, get a car etc. After a couple of months people started to get suspicious and decided to start questioning his motives. Long story short he ended up disappearing from twitter and social networks altogether and nobody knows what happened to him. He could have just taken the money and ran, that's an extreme example but it definitely makes it harder for people like me who have similar stories but desperately need the funds to pay bills and what not.

commandrix

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Quote from: skottiejay on June 16, 2014, 02:16:04 PM

I guess the days of fundraising and crowdsourcing are over, I don't know. There are so many extra hoops to jump through now that I'd think it'd be near impossible to get any kind of funds.

That could be. Kickstarter is a success because you can do "incentives" to donate so people feel like they get something out of it. But even then, they've gotten kinda rocked by scammers using their site to make a good pitch, get some funds and disappear. It can be tough to tell the difference on a well-run scam too. I've seen one of the scams and knew not to donate only because they were so obviously ripping off Mars One that I gave the Mars One concept artist a heads-up that they were using some of his material without permission.

It's not so much that power and easy money corrupt people, as power and easy money attract the corruptible.

skottiejay

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bitcoinnaire

But recently more people are more skeptical of "the goal" then others, and they have every right to be skeptical about it. There are a ton of people online that would do anything just to feed an addiction or just to make a quick buck, so they set up some sob story and bam people donate. Meanwhile there are genuine people out there that just need a break in their lives and would like to get ahead for once.

I guess the days of fundraising and crowdsourcing are over, I don't know. There are so many extra hoops to jump through now that I'd think it'd be near impossible to get any kind of funds.

ljudotina

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I dont understand question to be honest.
Fundrasing with BTC is identical to fundrasing with fiat, it is only more convenient, and easyer to do if it's "across the border" thing.
It's same as asking : "What do you guys think about fundrasing". If you have goal, and you think that ppl will be willing to help, give it a try!

skottiejay

full member

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bitcoinnaire

I'd be nice if I could set up a fundraising event to get my life back on track, so I could start trading, and start getting involved in my future and even start thinking about it. Right now I have no credit, no job, and basically I'm living on scraps, but people don't want to see that kind of thing. They want to see that it's going towards some new kind of technology. Even if I spent hours and hours going over how I ended up in the position I'm in, people would ask me questions like "why don't u have job" and such and they wouldn't understand. It's the nuances of my condition, panic and PTSD and anxiety don't register very high on the list of "diseases" that people generally care about. I can't work, I'm declared disabled but I can't collect on it because the state doesn't feel the same way. So I'm nearly out of everything and trying to make it. I know bitcoin isn't supposed to be used as a get rich quick scheme, but my plan is to be able to gather enough that I can have a future, that I can start looking for something to do in the mean time until I start collecting on my SSI (I have to fight for it sometime this fall, I have a hearing coming up).

But it's just not worth people thinking I'm just running away with bitcoins without anything to show for it.

cccarnation

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One Token to Move Anything Anywhere

It'd be good to accept BTC donations for Wikipedia for example. Have they opened it yet?

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: LiteCoinGuy on June 11, 2014, 01:30:46 PM

its a good idea. i guess many people would like to donate some btc

Many people are willing to donate their bitcoin, assuming it is for the right cause. Any charity that accepts bitcoin must tailor their cause to bitcoin users.

skottiejay

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bitcoinnaire

That's very true, look at all the indie games that have come out and have used indiegogo or kickstarter and then ended up bailing on the idea, or not getting the work done while millions of people have contributed. A lot of people look at that kind of stuff like it's a free money ride when it's supposed to be helping get a product out, or service.

jeffersonairplane

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www.bitkong.com

Quote from: skottiejay on June 11, 2014, 01:34:28 PM

I think this is a good idea in concept, however crowdfunding and fundraising these days comes with a serious skeptical price. I'm well aware that people need to be clued in on where their money is going and how it's being used, but for instance if I were to set up shop and say I need xBTC because I'm basically a wandering gypsy through no fault of my own and need help getting my life rebooted, not many people would understand and a lot would be skeptical that I'm not just going to dump whatever into a gambling addiction.

Which by the way is a real thing I need to do, but that's another story.

I think it would be a great idea, but I'm not so sure about people who would go all "fund my life" about it.

The same goes with any fundraising. It's not the medium they are accepting it is the actual charity or company itself. Some fundraisers won't actually spend money strictly on the event while others may. Accepting Bitcoin wouldn't be the root of the problem. It may make it easier, but still it is the company not the money.

skottiejay

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bitcoinnaire

I think this is a good idea in concept, however crowdfunding and fundraising these days comes with a serious skeptical price. I'm well aware that people need to be clued in on where their money is going and how it's being used, but for instance if I were to set up shop and say I need xBTC because I'm basically a wandering gypsy through no fault of my own and need help getting my life rebooted, not many people would understand and a lot would be skeptical that I'm not just going to dump whatever into a gambling addiction.

Which by the way is a real thing I need to do, but that's another story.

I think it would be a great idea, but I'm not so sure about people who would go all "fund my life" about it.

LiteCoinGuy

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In Satoshi I Trust

its a good idea. i guess many people would like to donate some btc

fryarminer

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Quote from: Harley997 on June 10, 2014, 10:04:51 PM

Quote from: commandrix on June 10, 2014, 05:17:42 PM

I suppose I could have asked before writing this blog post, but what do you think of using Bitcoin to raise money for charity? I think it can work, if people who want to donate are absolutely sure that the Bitcoin raised is going to get to the nonprofit in question.

It needs to be something Bitcoin related that people that own BTC care about.

A good example of this is when "satachi" was outed, only it was not the person who created Bitcoin

Good point. And at this stage in BTC history there are still only specific interests that the community has. As bitcoin usage grows so will the interests of the users.

Another good thing about using BTC for fundraising is that you can leave memos with the transactions. This is good for naming opportunities - you can have your benefactors write a note when sending the donation as to how they want their donation remembered. "In honor of my son Billy" or "From Jane", or so on.

Topic: What do you guys think of fundraising with BTC? (Read 1410 times)