Bitcoin philanthropist donated $1 million to psychedelics research

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How long will it take these organizations to convert the bitcoins into usable money?

Not that I mean to undercut the generosity of these donations. Even though I remain skeptical of any cryptocurrency’s ability to serve a purpose other than cryptocurrency speculation I believe at least some portion will be able to be converted into money usable in the real world. I’d rather it be charities than probably most of the other holders of bitcoins.

Bitcoin is a form of usable money. You can purchase things with it. It’s no less real than your bank account which are numbers coded as ones and zeros. For that matter, how is a piece of paper money worth anything? It is just by general agreement.

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This is truly an act of generosity. The NIH will not fund research in treating PTSD using psychedelics such as MDMA even though the studies done so far on patients with intractable PTSD were fairly stunning.

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