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Title: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: cescan on June 14, 2013, 08:20:27 AM http://www.coindesk.com/bitcoin100s-dilemma-too-many-bitcoins-not-enough-charity/
Murashchik is the treasurer for Bitcoin100, an organization dating back to November that aims to donate $1,000 worth of bitcoins to various charities. As a volunteer — all members of the group are — he’s tasked with a number of responsibilities, from overseeing a website relaunch to finding beneficiaries to donate to. The latter has been proving especially challenging. Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: kjlimo on June 15, 2013, 12:53:06 AM Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins?
Also, interesting debate in the comments. "Note: Donations made in BitCoins are not tax-deductible under current US tax law." Why would this be the case? So say you don't want to consider them monetary donations; couldn't they still be non-cash donations? How does it work if you donate Euros to a US charity? Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: Mike Christ on June 15, 2013, 03:05:48 AM Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins? Also, interesting debate in the comments. "Note: Donations made in BitCoins are not tax-deductible under current US tax law." Why would this be the case? So say you don't want to consider them monetary donations; couldn't they still be non-cash donations? How does it work if you donate Euros to a US charity? Beats me. All these needless rules just so two entities can exchange wealth. Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: kjlimo on June 15, 2013, 05:19:30 AM Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins? Also, interesting debate in the comments. "Note: Donations made in BitCoins are not tax-deductible under current US tax law." Why would this be the case? So say you don't want to consider them monetary donations; couldn't they still be non-cash donations? How does it work if you donate Euros to a US charity? Beats me. All these needless rules just so two entities can exchange wealth. ... and get tax advantages... Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: Mike Christ on June 15, 2013, 12:09:36 PM ... and get tax advantages... The only advantage to ever come from taxes is the lack thereof :P Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: edd on June 15, 2013, 01:24:54 PM ... and get tax advantages... The only advantage to ever come from taxes is the lack thereof :P Which is actually the purpose of reporting tax deductible donations. Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: Mike Christ on June 15, 2013, 01:27:06 PM Which is actually the purpose of reporting tax deductible donations. As I said, it would be easier to simply let them be, than to jump through hoops in the hopes of the same effect. Title: Re: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity Post by: edd on June 15, 2013, 01:38:51 PM Which is actually the purpose of reporting tax deductible donations. As I said, it would be easier to simply let them be, than to jump through hoops in the hopes of the same effect. I don't understand. There is nothing stopping me from donating whatever I want to whomever I want. |