[2018-05-30] Philanthropist's Love Letter to BTC: Why $80M in BTC Was Given Away

[buwaytress]

The pseudonymous founder of Pineapple Fund, which donated over USD 80 million (value at time of founding) to charity, recently bid farewell after giving away every single satoshi of the Bitcoin fund. Known only as 'Pine', the Bitcoin philanthropist spoke to Bitcoin News and has not ruled out a return to altruism, calling similar ventures "almost a love letter to the cryptocurrency".

Pine also spoke out about cryptocurrency's original ideal and believed that his fund was set up in the same spirit that saw Bitcoin as an "emerging asset class... providing capital to cypherpunks" and how it gave people "power to transform our world".

To read more: https://bitcoinnews.com/a-philanthropists-love-letter-to-bitcoin-why-80m-in-bitcoin-was-given-away-to-charity/

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[davis196]

I don`t trust people,who "give away" millions for charity.What kind of charity projects is he supporting?
There`s no info about that.Rich people,who make large donations usually do this to avoid taxation,not because they like to help other people.Why is this guy anonymous?Is he hiding from somebody,or from the authorities?

[buwaytress]

I don`t trust people,who "give away" millions for charity.What kind of charity projects is he supporting?
There`s no info about that.Rich people,who make large donations usually do this to avoid taxation,not because they like to help other people.Why is this guy anonymous?Is he hiding from somebody,or from the authorities?

The website linked to the fund specifies all the charities supported, I recognise most of them and you can get specifics from all of them individually. As touched on in the article, they have even engaged legal assistance with anonymous donations, if you'd paid attention. Anonymous donations can't be used to avoid tax, so there you go, he's not avoiding tax.

The guy also explains the reasons for staying anonymous. Privacy is your right, almost your duty. What are you doing with Bitcoin if you don't believe any of that?

[RodeoX]

I don`t trust people,who "give away" millions for charity.What kind of charity projects is he supporting?
There`s no info about that.Rich people,who make large donations usually do this to avoid taxation,not because they like to help other people.Why is this guy anonymous?Is he hiding from somebody,or from the authorities?

https://pineapplefund.org/#charities

Please visit the website before deciding what the truth should be.

[Betwrong]

It doesn't matter where the money are going in reality, whether part of it is brutally stolen by a fund management or distributed among the fund officers in the form of huge salaries (they especially like to do the latter), but this guy, Pine, is a great person. This is a real philanthropy with the aim to help people in need (he stays anonymous), and not that self-promotional bs, which many rich folks are doing these days. Also, he shows to the world that Bitcoin is not only used by bad guys (this notion btw stops many from using BTC).

[orions.belt19]

It doesn't matter where the money are going in reality, whether part of it is brutally stolen by a fund management or distributed among the fund officers in the form of huge salaries (they especially like to do the latter), but this guy, Pine, is a great person. This is a real philanthropy with the aim to help people in need (he stays anonymous), and not that self-promotional bs, which many rich folks are doing these days. Also, he shows to the world that Bitcoin is not only used by bad guys (this notion btw stops many from using BTC).

I agree, and I hope that this would help spread positivity for bitcoin. With the many scams these days, it has made other people think that bitcoin is associated to illegal activity. Motives like this would make even fellow btc users like us to realize that there is a bigger picture with the use of btc other than the hope of getting rich in the future or as a mode of transfer or a payment system.