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Should libcom accept Bitcoin donations?

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Jacques Roux's picture
Jacques Roux
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Jan 12 2015 22:48
Should libcom accept Bitcoin donations?

A suggestion: yes / no?

boozemonarchy's picture
boozemonarchy
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Jan 13 2015 01:16

Defs no.

Juan Conatz's picture
Juan Conatz
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Jan 13 2015 01:20
boozemonarchy wrote:
Defs no.

radicalgraffiti
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Jan 13 2015 01:30

Mozilla found bitcoin reduced the amount people donated
https://fundraising.mozilla.org/bitcoin-donations-to-mozilla-17-days-in/

Steven.'s picture
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Jan 13 2015 19:54

Are there any advantages to bit coins over actual money? There seem to be a fair few disadvantages (didn't people have billions of them stolen?)

Khawaga's picture
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Jan 13 2015 20:01

Money = universal equivalent. Bitcoin = just a commodity, Meaning, as money goes bitcoin is basically uselless especially considering all the steps you need to take to a) first acquire it and (b) to spend it. But if you're a US college libertarian type, bitcoin is basically the second coming.

the button's picture
the button
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Jan 14 2015 09:50

I reckon you should go for it, just to be annoying.

boozemonarchy's picture
boozemonarchy
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Jan 14 2015 12:46
the button wrote:
I reckon you should go for it, just to be annoying.

]

the button's picture
the button
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Jan 14 2015 12:49

So movement. Much real. So abolish. Wow.

Noah Fence's picture
Noah Fence
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Jan 14 2015 13:01

Support the Miners

jef costello's picture
jef costello
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Jan 14 2015 18:41

Can't see the point, but if it is free to accept them then I can't see a reason why not.

Jacques Roux's picture
Jacques Roux
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Jan 23 2015 19:51

Thanks for the replies.

boozemonarchy & JC - why no?

radicalgraffiti - I had not seen that before. I really don't understand statistics but there's lots of people questioning their results on the web and the comments. Personally it does seem really weird that that tiny bit of text they illustrate in the blog post would reduce donations. Furthermore I don't think this would apply to libcom because the Donate page (http://libcom.org/notes/donate) is not partic. smooth sailing in terms of the amount of words / disjointed images. The point Mozilla seems to be making is the less going on a page = more donations.

Steven. - Yeah one of the big exchanges lost loads of money, but that does not mean its partic. insecure if you look after your BC correctly.

Khawaga - Sure its a commodity. I am not trying to make arguments for BC as a currency, but for its validity to Libcom. Should the site accept other commodities which could be useful to the site? Possibly.... who'd say no to some gold bullion? Also

I think accepting BC donations would be interesting because its very easy to transfer bitcoins, might attract different demographics to donate, and in the future could be useful in terms of security etc. What are the paypal fees on current donations for example? Would bitcoin mean that people are more likely to donate from abroad because of transfer fees etc on using cars or bank transfers?

boozemonarchy's picture
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Jan 23 2015 23:01

Jacques,

It was really just a knee jerk reaction to the stuff. In the United States it is loosely associated with a cultural and political element I'm uncomfortable with.

Khawaga's picture
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Jan 23 2015 23:10

My point is: is the effort really worth it? Bitcoin is just not as useable as money. Sure, if it's easy to set this crap up, then why not. But I doubt the effort will be worth how much you'd actually get in donations. At least $$$ can be spent right away.

fnbrilll
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Jan 24 2015 07:06

Bitcoin value also fluctuates on speculation more/greater than traditional national currency exchanges. Currently Bitcoin value has dropped dramatically compared to a year ago. If you couldn't finf methods to spend you could be out all value, or be sitting on huge pile.

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Jan 24 2015 14:44

Yeah, it lost 2/3 of its value of 2014. If you're using the money to pay for servers then there is a chance that, due to bitcoin dropping in price, you'd be short of the money to pay for servers.

Jacques Roux's picture
Jacques Roux
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Jan 24 2015 14:13
boozemonarchy wrote:
Jacques,
It was really just a knee jerk reaction to the stuff. In the United States it is loosely associated with a cultural and political element I'm uncomfortable with.

Fair enough, I think in the UK its either people who think they can make money out of it or geeks... as far as I'm aware. Use of it def. seems to be growing though, or at least talk of it.

Khawaga wrote:
My point is: is the effort really worth it?

I see your point, but it is essentially zero effort. To see what happens I suppose.

The only bad point I could see would be that people who would be about to donate in real currency would instead donate in BC which would be bad. Rather it would be an option for people who would not usually donate in normal currency. Which at the moment is via PayPal.

fnbrilll & d33r - sure it would not be a long term strategy and I would recommend cashing any donations regularly and at relatively small amounts. Rather than storing it up.

I guess the question is are there potential donaters online who would only use BC to help causes they are interested in?

Just to clarify - I am not involved in libcom admin nor do i have any control over donation processes and I wouldn't think that libcom is in need of any extra-special funding at the moment.

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Jan 25 2015 14:10

If its no effort to do, and it might encourage donations from people who wouldn't otherwise, then we might as well do it! When I get a chance I will Google how to get a bitcoin account, but if somebody knows or has a link which just says how to do it without me having to look around that would be helpful!