Wikipedia now accepts donations in bitcoin


Bitcoin, eh? Well, I’m sure the conversation will be civil.

But I’ve got popcorn popping.

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About ten seconds of reading reveals they’re actually accepting donations through Coinbase.

I’m mildly curious about how these payment services are able to make a profit. As far as I can tell, nobody wants the Bitcoins themselves. Vendors immediately get real money from an intermediary (such as BitPay or Coinbase). However, that real money has to come from somewhere.

There but for the grace of Richard Branson, I guess.

I wonder if they also accept old Starbucks gift cards with 17 cents left?

I don’t think they are making a profit, they’re all hoping for acquisition.

This is good news for Coinbase or Bitpay or whoever but Bitcoin is still transferred to USD by Wikipedia, Dell, Overstock, etc.

Sure is a good way to get PR fluff published everywhere, I guess.

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Naturally there’s no mention of Wikileaks surviving because of Bitcoin’s appreciating value. That would be actual reporting, not opinionated blogging.

For those interested in the real story:

Stuffing-your-face-with-a-latte-summary: Wikileaks survived due to Bitcoin investments and donations, to the tune of 2.2 Million USD. When the conventional payment processors blockaded them, only Bitcoin allowed them to survive.

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They were talking about Dell’s announcement on This Week In Tech. Using Coinbase to exchange BTC for USD is cheaper than credit card transaction fees. Makes me wonder which branch of Dell is handling that. In the U.S., bitcoin is treated like an investment device; if you accept 1BTC when it’s worth $580 and you exchange it for USD when it’s worth $640, that’s a capital gain. Might be cheaper in taxes, too, then, but I am not an accountant. I do well to get the right amount of money on a checkbook ledger, come to that.

That sounds like it would be an interesting thing for you to submit in a new topic. That is, if you want to give up talking a bunch of snide nonsense about how the completely separate story about Wikipedia is just a way for the sheeple to ignore the “real” story about Wikileaks. At this point, if Wikipedia were to receive a large large donation in the form of Bitcoin, that donation would not multiply eighty times in just a couple of years.

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