Bitcoin Forum

Just want to ask for your opinion regarding the Charity Funds,
As bL4nkcode and I recently  talking about it due to the current  value.

Shall we convert it before BTC falls? and just convert it again when BTC has a low value again?

As for my opinion, it should be converted besides we will convert it again to btc when it falls again, in that way if BTC hypes up again it will increase and the same goes after and to the upcoming trends.

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As for the Plan:

My wife is currently  a BOOKKEEPER on a Bank, and somewhat can create an account for the Charity (if not it will be under my name or my wife). And after that the Passbook will be transferred to bL4nkcode once again, so trust issues can be cleared.

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Lastly, I'm in need of help regarding the website's content of the Charity. If someone can help me, I really appreciate it. Pls send me a PM on Telegram @cabalism13|

Not sure I'm aware of the charity, but I'll give a general opinion.

Are you planning on distributing the funds at any time in the near future? If yes, then sure convert the funds right now. The problem with your plan to trade essentially is what if you miss the dip, the gains could be negligible, and/or if BTC continues to spike. I say this because you plan to maybe put the cash into a bank account.

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It also kind of comes down to how the charity was presented when you accepted the BTC. Might actually have been better to just PM all donors to get their opinion.

Nobody knows when will BTC falls or will it make some highs again but if I were to put an opinion I guess you should convert it right now that it's still high IF it's really that to be distributed this year or the early days of the upcoming year. Were the coins in a non-custodial wallet like coins.ph? If yes then I'd say not trade them and remain it as it is, as far as I know, you can cash out via BTC wallet on coins.ph without converting it to peso. Let it remain the same BTC value and just withdraw it if you think the price is right and you are gonna be using those funds on that day for a donation, just my two cents.

I wouldn't play with it if it's up to me. Not on a bull run or in time where BTC at $20K is the new normal. That is a risky game and you will only feel guilty if the price didn't fall down as you expected. You could have converted them all to fiat when you first received it so you could avoid making tough choices like this. The donors probably thought all should have been spent where it was intended for.

https://bitcointalk.org/index.php?topic=5124375.0

Yes we plan to make the distribution by Next Year, as for now I'm on hold with the activities  as I'm currently busy with other things.
Not possible as the Donators remain anonymous. They just donate out of nowhere, and I've been getting the funds out if I do have one place to give just like when the Typhoon Strikes a certain place here in the Philippines.

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No, it's on the external wallet of bL4nkcode.

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Well, in my case and opinion, I wouldn't  still be able to say that, we all know that BTC wouldn't  strike up in one way, it will surely have another time.

Since you already have a perceived time frame when you would distribute, you have to consider that Bitcoin might not fall within that period. It's very possible that you'll that the spike would continue till next year and there'll be no opportunity to buy in.
Selling the Spike and buying the dip sounds good in theory, but is not so easily practised.

Bitcoin doesn't move linearly, but it is largely unpredictable. There's usually a correction after a bull run, but we do not know if this is yet the bottom of the spike and the price just keeps running away.

I see, it's a tough decision to make considering the price right now is at the top and it's December where we see prices decline in the market historically especially BTC. A really tough decision to make and at the end of the day, it will be your last call. Do you think the value of the fund is enough already for the chosen charity? Just my opinion consider the overall value of the funds to be ready for donation.

Why not transfer it on Coin.ph and convert it to php? that will be the best thing you can do to secure the value while the price is so high its a big gain already and its a total waste if we will go back the same on what happen on year 2018 where the value got drop so hard.

But if you are doubting about this better to create a survey on your charity thread so that the donators will know about your plans and for sure they will understand your intention.

Yes it is, but still I want the public's  opinion so whatever I do is only based on what the majority wants, besides this money isn't  for me but for the people who needs it.
Idk. Have a blurry idea.

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We will, but still needs an advice.
And I think this discussion is already enough so no need for surveys.

do you already have someone specific where you will spend the money?
maybe think about their situation, it may be a long time for them to wait for consolidation. For example, in my country here is a very complicated situation with children suffering from rare diseases. The government does not cover the costs of treatment in a foreign country, and some diseases are successfully treated in only a few clinics in the world. In some case, healing can cost more than $1 mill. and there is every day important for successful treatment. I don't think they are interested in investing at the moment while saving lives. Especially not in the risk investment as a Bitcoin.

If you want to give someone food on the table, maybe you can get them much more after three or six months but they should stay alive and eat something to get your help.

I respect your desire to help, but if you are already doing it, let it be at the right time. Do not be late because then loses meaning aid.

Only if you have a stable plan where to invest donated funds and distribute only profit on a monthly basis (for example). But I don't think Bitcoin fluctuation is proper investment in this case, it must be something with a stable income, smaller amount but safe.

So if you want to run this as long therm campaign, you will probably have to register a charity foundation. it will be easier for you to manage funded money or if you need to invest them somewhere. Also, you will get more credibility for your effort. Now it's just you and bL4nkcode, and surely someone will suspect the abuse of your work. I tell you this based on personal experience.

Do not misunderstand me that I doubt you work or criticize what are you doing, I'm just telling you how I see it based on my experience in such a situation.

And this is the reason why I'm also looking for volunteers, users  who can be identified, means they're  willing to go public just like me, bL4nkcode and crwth.
I planning to do so, but here in our country there are a tons of hindrances before you can register the Charity Officially. So, in the meantime my priority are just the website, activities, volunteers and the funds.

My Charity is quite running good as it is now, besides it's over a year now since I created BITCOINTALK CHARITY. All is Well.

So, what is your main idea, whom you want to help through this program?


I already have paid shared reseller hosting for my own use, working well. Also, I have some knowledge with creating a landing page and WordPress. here I offer you help if you need it. Just register domain (I can do it for you, though it is better that it be in your possession) and I will give you hosting space for the website. It will be my donation for your initiative.

I think for now you should have cashed them as the price is higher and at least few x than the fund was donated. I remember at the ebginning of the pandemic, the charity received 1 BTC.
And is it needed to have them exactly printed fiat? I guess you still can hold them with escrow as there are a few stablecoin in the market.

Sorry for the late arrival to the party, I feel like I might have come across this thread or something like it (charity) somewhere else before but could you update OP with some links or breadcrumbs so I might follow?

One thought: if it's long-term charity and you won't be starting anything for a few more years, I'd liquidate half and keep half for the next cycle.

Might a good suggestion, I think XRP will be good and better than chashing it out into fiat. Will notify bL4nkcode...

Please Visit:
Bitcointalk Charity  (https://bitcointalk.org/index.php?topic=5124375.0)
BALANCE:
https://btc.ninjastic.space/balance/1CHAriTyyuCzLdXshSDVohyjgxTxW9Bhx/e3a829?size=18
USD VALUE:
https://btc.ninjastic.space/price/1CHAriTyyuCzLdXshSDVohyjgxTxW9Bhx/e3a829?size=18

P.S. The above image is the real-time Balance of the Charity Funds and it's  current  value in USD

I'm not sure if that's a joke (internet...), but XRP is far from being a stable coin... and they are also being sued by the SEC: https://edition.cnn.com/2020/12/23/investing/ripple-sec-lawsuit-trnd/index.html

Maybe that's the joke...? :P

Maybe he missed out the news.  :D Currently XRP is down 46.50% as of this writing and if funds were converted to BTC earlier time then those funds are
already fucked up in half.

When it comes to conversion to local fiat on where op is living then that would be a good choice imho. If you are really aiming to accumulate more value in fiat then the thing suggested is a good choice.Buyback later on when theres a dip but its actually hard to be done than saying such thing,

It doesnt matter about trust issues yet passbook can be checked out and see if the value were right.

^^^ Thanks for the link. I'll have a look in a bit, but um yeah, XRP bad idea. Any centralized coin is a bad idea IMO, I'd rather actually trust a person to hold the amount in actual USD or EUR account if we want to have a predictable value, though I see nothing wrong with holding it in Bitcoin for the foreseeable year.

XRP? I really hope you are kidding me. Have you read the recent issue with XRP? Apart from that, XRP is not even a cryptocurrency. It’s totally centralized. Why would you pick XRP? And that's not a stablecoin.

nope, I wasn’t aware of that and wasn’t updated on the news...
And I have said that it might be,... so if there’s an issue then it won’t be on our option anymore...

I do not mean to be rude but do you have a pictures that serves as a proof. I am kind of skeptic, and I think that it is reasonable to look at what the donation goes through. You mentioned the website can you drop the link for many to see.

What are you referring too?? Here is the Charity ANN that was shared with me in an earlier post.
You can see they update when they distribute charity funds, and can follow the thread there.

I did find out about it while scouring for proofs myself, thank you for putting it here to bust out other skeptics. I see that most of the people that they are helping are typhoon/cyclone victims. I hope that other members of this forum follow their footsteps at least in a way they think the best way they could help. Keep up the good work, if the government can't do a thing about the situation of the needy then we should just help each other.

I didn't respond earlier as I also wanted to see where the market will go after breaking $20K. It looks like it hasn't come down since December 18. This is what I'm thinking when I said "$20K is the new normal". Institutional whales are taking over gulping the sell walls set up by OG whales and making them look like tiny fishes. I've seen a lot of people saying there will be pullbacks soon and sold their bags around $25K. They're all silent now.

Did you sell?