[Wikimedia-l] Let's accept Bitcoin as a donation method

[John Vandenberg]

On Dec 13, 2013 5:55 AM, "Steven Walling" <steven.walling at gmail.com> wrote:
>
> On Wed, Dec 11, 2013 at 12:31 PM, Jake Orlowitz <jorlowitz at gmail.com>
wrote:
>
> > * Our peers like EFF, and Internet archive accept it
>
>
> To be totally honest, I think this is moot.
>
> Support for bitcoin among these two organizations has hardly been a
ringing
> endorsement. In the past, EFF has rejected it for very practical reasons I
> think still apply.[1] As for Internet Archive, I was literally in the room
> when their fundraising staff announced they started accepting bitcoin, and
> they actually said they didn't really understand what it was, other than
> people requested they accept it.
>
> In general, I would personally like it if the WMF avoided accepting
> bitcoin. Today, bitcoin isn't really a functioning currency of exchange --
> it's actually used more as an investment tool to create wealth that
> naturally appreciates in value, like playing the stock market or buying
> gold. Avoiding lots of risky investments is something our very competent
> financial managers already steer clear of, and I see no reason to start
> taking on more risk now.

As Peter just said, there is no risk if WMF converts bitcoin donations to
USD immediately.

--
John Vandenberg