2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity

[cescan]

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.

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[kjlimo]

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?

[Mike Christ]

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.

[kjlimo]

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...

[Mike Christ]

... and get tax advantages...

The only advantage to ever come from taxes is the lack thereof

[edd]

... and get tax advantages...

The only advantage to ever come from taxes is the lack thereof

Which is actually the purpose of reporting tax deductible donations.

[Mike Christ]

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.

[edd]

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.