A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin. One particular charity, little publicized, is the Water Project which now accepts a variety of cryptocurrencies apart from Bitcoin to support its projects and now accepts Bitcoin Cash, Ethereum, or Litecoin. The project’s simple aim is to ensure the inhabitants of sub-Saharan Africa have access to clean, disease-free water. Once you get your charity in front of the right audience and make it simple for them to donate by accepting Bitcoin, you widen your appeal. “Millennials are the demographic most actively using Bitcoin,” says Lamb, “and as charities attempt to recruit younger donors, cryptocurrency is an unpre cedented and growing fundraising opportunity area. Bitcoin giving is on the rise, despite the currency volatility. And it’s easier for charities accepting bitcoin donations than you might think. Once a charity has set up their online wallet, they can accept bitcoin donations easily and exchange them for fiat currency. Rethink selling bitcoin and donating the after-tax proceeds to charity. By donating bitcoin to Fidelity Charitable, your tax deduction and charitable gift may increase over 20%. Learn how donating bitcoin directly to charity increases the size of your gift to yield significant benefits, both for you and the charity.
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