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Jason Ansley | Fractional COO | Leadership Coach

Are these charities keeping the donation in Bitcoin though?

If not, how is transparency retained post gift?

I too am building a charitable foundation utilizing blockchain, but until 100% of in and out remains in BTC as an example; transparency is not an ideal selling point.

Ultimate Satoshi 1y ago

It's all about donations.

So in your opinion, if we collect donations, will you keep them?

In my opinion, most donations that are collected are spent.

If he collects donations and doesn't spend them, this proves that he's going to invent situations to carry out this collection.

Because before any collection is initiated, there's already a budget plan in place that proves what the money will be used for.

For example, I had to launch a campaign to treat my friend's dog, Brownie.

So what do you think? If people contribute and I collect donations in Bitcoin, am I going to spend them on saving the dog or leave the Bitcoin untouched and let the dog die?

The answer is no, because I can't collect the Bitcoin and then let the dog die, because that wouldn't be a good thing.

When you collect money for something, you spend it on the purpose for which it was collected, and at the end of the process you make a report to everyone who contributed.

Proving how the donations have been used is what creates transparency.

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Discussion

Ultimate Satoshi 1y ago

What do you think of this?

Should donations received in Bitcoin by organizations be kept, or should they be used for the purpose for which they were collected?

#asknostr #nostr #bitcoin #plebchain

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Jason Ansley | Fractional COO | Leadership Coach 1y ago

Thanks for explaining yourself well 😉

Yes donations will be spent (in most cases)

Most smaller charities do not yet have an endowment or have even thought about strategic future funding plans.

So in 90%+ of the situations most charities will 100% spend the donations.

Which is to my point in some respect; if we donate in BTC that isn’t necessarily the easiest way for a charity to spend the donation.

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I’m not looking at your OP but I THINK you mention Charity Water or similar larger charity that accepts crypto.

For those larger ones, and CharityWater is even more unique as they have separate operational and missional budgets / donors, they are better off keeping the BTC for future strategic funding.

And CW specifically, does a lot of their work in developing countries wherein BTC is a medium of exchange. So they may have more opportunity to utilize (spend) the donated BTC with less friction.

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Those where my thoughts when I first read your post 😁

Ultimate Satoshi 1y ago

Ah well, what did you think when you first saw my message.

Concerning all my stories that I post, I try to write the articles that I talk about with the community.

Of course before I write the articles I do some research to see what information I need.

Here's how I do it

So if you'd like us to talk about relevant topics, my DMs are open.