The Pineapple Fund has given $1M in Bitcoin to the Internet Archive.
This year, Christmas came early to the Internet Archive. On Saturday, the generous philanthropist behind the Pineapple Fund gave $1 million dollars in Bitcoin to the Internet Archive. This anonymous crypto-philanthropist explains, "I saw the promise of decentralized money and decided to mine/buy/trade some magical [I]nternet tokens. ...Donating most of it to charity is what I'm doing." We so admire this donor using Bitcoin as the currency of giving this season, and are honored to be the recipients of such a gift. Whoever you are, you are doing a world of good. Thank you.
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The Pineapple Fund Gives $1M in Bitcoin to the Internet Archive
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(Score: 5, Funny) by Rosco P. Coltrane on Wednesday December 27 2017, @08:22PM (7 children)
I mean
10080706450907266 BTC is really generous!(Score: 2, Insightful) by jshmlr on Wednesday December 27 2017, @09:07PM (6 children)
Either way, I'd cash these bad boys out, pronto.
Need nothing, then see what happens.
(Score: 4, Interesting) by krishnoid on Wednesday December 27 2017, @09:35PM (4 children)
Would it be too schadenfreude if I wished that all the early bitcoin millionaires donated their bitcoins to worthy and effective charities and causes, who then cashed them in ASAP, leaving Wall Street speculators holding the bag if/when it crashes?
No, that's bad, and I should feel bad. At least a little.
(Score: 5, Informative) by FatPhil on Wednesday December 27 2017, @11:07PM (2 children)
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 2) by wisnoskij on Thursday December 28 2017, @12:44AM (1 child)
The problem with Wallstreet crashes is it is not Wallstreet which suffers, it makes money on every transaction, it is the guy that took out a second mortgage to buy 10 BTC.
(Score: 2) by FatPhil on Thursday December 28 2017, @08:55AM
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 1) by jshmlr on Thursday December 28 2017, @02:49AM
Not in the least. A wealth redistribution story set in cyberspace..
Need nothing, then see what happens.
(Score: 1) by nitehawk214 on Thursday December 28 2017, @12:18AM
Maybe that is his plan. Have someone try to cash out a bunch of bitcoins at once and cause a crash in the market?
"Don't you ever miss the days when you used to be nostalgic?" -Loiosh
(Score: 2) by takyon on Wednesday December 27 2017, @08:31PM
Sometimes they do a pledge drive and someone offers to match donations 2 or even 3 to 1 (give $25, they get $100).
(No, not applicable to this big donation.)
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 4, Informative) by MichaelDavidCrawford on Wednesday December 27 2017, @09:44PM
If the donor were to sell his coins so he could donate cash he would have to pay capital gains tax
But if he donates assets the charity reaps the profit which is not taxed
The FSF is set up to accept bitcoin and one or two other cryptos
Yes I Have No Bananas. [gofundme.com]
(Score: 0, Informative) by Anonymous Coward on Wednesday December 27 2017, @09:55PM (1 child)
I found this explanation the other day:
(Score: 0) by Anonymous Coward on Thursday December 28 2017, @06:04AM
Forum posts form a network based on algorithms? Whoa!