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Author Topic: Wikipedia Raises 237 BTC Through Donations In One Week  (Read 3232 times)
ShakyhandsBTCer
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August 10, 2014, 04:43:12 PM
 #21

Makes you wonder, what would have happend, if wikimedia accepted bitcoins way back and not sold all. Like wikileaks. They'dn't need a fund raiser for years to come Wink
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August 10, 2014, 04:46:26 PM
 #22

The WikkiLeaks founder had said in a news interview a few months ago that if it was not for their investment in BTC several years ago they would likely have not been able to survive. They had purchased several thousand BTC for pennies and sold it near it's highs. The moral of the story is that dollars are not the only thing that can support a foundation.
[/quote]

Very interesting info, thank you for sharing.
Such testimonies, plus successful Bitcoin donation campaign for Wikipedia, really can help global popularity of bitcoin.
It's obvious that many business owners and merchants are still not aware of the great benefit Bitcoin can bring to their business.
It's good that at least Wikipedia realize that, better sooner than later Smiley

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August 10, 2014, 04:58:03 PM
 #23

Link to the Coinfinance article:

http://coinfinance.com/news/wikipedia-raises-237-btc-through-donations-in-one-week

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Last week, The Wikimedia Foundation, owner of Wikipedia online encyclopedia, has announced Wikipedia acceptance of bitcoin as a method of payment for donations.

Now, one week later, Wikipedia gladly announces that it has collected more than $140,000 in bitcoin donations.

That really is a lot. It's so awesome to see that that Wales guy decided to give it a short. This shows that it was the right thing to do! If they continue that way they'll get like... 12'000 BTC over the next year!!!! That's over $7m USD!!! INCREDIBLE!

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August 10, 2014, 05:11:11 PM
 #24

And now they are going to dump this 237 BTC on some exchange site and cause the market to drop....
They're using Coinbase, so they've already “dumped” them and received USD back.

That's right. A couple of years ago when the idea was first presented to them they had no way to easily convert them to dollars. They couldn't care less about Bitcoin. They would accept peanuts and beer as a donation if there was a no hassle way to convert them to what they really want - dollars.
The WikkiLeaks founder had said in a news interview a few months ago that if it was not for their investment in BTC several years ago they would likely have not been able to survive. They had purchased several thousand BTC for pennies and sold it near it's highs. The moral of the story is that dollars are not the only thing that can support a foundation.

They state it clearly. They didn't collect 237 btc they collected $140,000. Shows you the mindset.

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Now, one week later, Wikipedia gladly announces that it has collected more than $140,000 in bitcoin donations.

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August 10, 2014, 05:29:51 PM
 #25

Now they should reciprocate by promoting the coin... solicit more positive contributions.
ShakyhandsBTCer
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August 10, 2014, 05:34:58 PM
 #26

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..
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August 10, 2014, 05:35:11 PM
 #27


They state it clearly. They didn't collect 237 btc they collected $140,000. Shows you the mindset.


Give them time. Let's not expect them to instantly become the bitcoin fanatics.
I'm sure that with the next price spike they'll be reconsidering instant conversion to USD.



That really is a lot. It's so awesome to see that that Wales guy decided to give it a short. This shows that it was the right thing to do! If they continue that way they'll get like... 12'000 BTC over the next year!!!! That's over $7m USD!!! INCREDIBLE!

Yes, that's impressive, but don't think they'll be getting that much every week. Probably lots of bitcoiners decided to reward them for making the right decision.
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August 10, 2014, 06:27:06 PM
 #28

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.

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August 10, 2014, 06:29:08 PM
 #29

Better late than never. Next time I see Jimmy's face on the page header I might actually chip in

Given the exchange rate now, I'm guessing they're kicking themselves for waiting so long.

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August 10, 2014, 06:32:35 PM
 #30

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.

What are you talking about?

I said they can't hold them. So they need to exchange them immediately. They got 237 BTC through bitpay/coinbase and then received USD from those companies.

Not sure what you are saying..
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August 10, 2014, 06:42:44 PM
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@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.

What are you talking about?

I said they can't hold them. So they need to exchange them immediately. They got 237 BTC through bitpay/coinbase and then received USD from those companies.

Not sure what you are saying..

Sorry quoted the wrong person. The guy above said they claim to have bought coins for pennies.

Yeah, I know they need the cash. That was my original statement. They wouldn't care if you gave them peanuts and beer as long as they can get cash for them easily.

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August 10, 2014, 06:52:23 PM
 #32

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.
Wikileaks is still a very controversial enterprise and many payment processors does not want anything to do with them. Wikileaks would need to open an account on an exchange and open a bank account to receive the money to. Both the exchange and bank would become magnet for possible regulatory action/investigations that are unrelated to their dealings with wikileaks.

They also tried to start accepting BTC donations in the early days of BTC, but satoshi asked they not accept BTC donations because it would attract too much attention to BTC when BTC was too young.

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August 10, 2014, 06:54:24 PM
 #33

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.

What are you talking about?

I said they can't hold them. So they need to exchange them immediately. They got 237 BTC through bitpay/coinbase and then received USD from those companies.

Not sure what you are saying..

Sorry quoted the wrong person. The guy above said they claim to have bought coins for pennies.

Yeah, I know they need the cash. That was my original statement. They wouldn't care if you gave them peanuts and beer as long as they can get cash for them easily.

Oh, sorry for the cunfusion then!
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August 10, 2014, 06:59:08 PM
 #34

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.
Wikileaks is still a very controversial enterprise and many payment processors does not want anything to do with them. Wikileaks would need to open an account on an exchange and open a bank account to receive the money to. Both the exchange and bank would become magnet for possible regulatory action/investigations that are unrelated to their dealings with wikileaks.

They also tried to start accepting BTC donations in the early days of BTC, but satoshi asked they not accept BTC donations because it would attract too much attention to BTC when BTC was too young.

Source?

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August 10, 2014, 07:10:41 PM
 #35

i hope they end up keeping some of the coins to be used instead of just exchanged.

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.
Wikileaks is still a very controversial enterprise and many payment processors does not want anything to do with them. Wikileaks would need to open an account on an exchange and open a bank account to receive the money to. Both the exchange and bank would become magnet for possible regulatory action/investigations that are unrelated to their dealings with wikileaks.

They also tried to start accepting BTC donations in the early days of BTC, but satoshi asked they not accept BTC donations because it would attract too much attention to BTC when BTC was too young.

Source?

the source is buried somehwere here on bitcointalks.. i saw it a while back. maybe i can find again. i don't feel like digging through this rubble, but you can if you want https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=220
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August 11, 2014, 12:58:45 AM
 #36

It's good progress from the Bitcoin wikipedia article being deleted in in 2010. https://bitcointalk.org/index.php?topic=652.0
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August 11, 2014, 01:12:07 AM
 #37

And they still have the bitcoin donation option burried somewhere in their site...
ShakyhandsBTCer
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August 11, 2014, 01:34:30 AM
 #38

And they still have the bitcoin donation option burried somewhere in their site...

That doesn't matter much. So are all the other "alternative" options.
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August 11, 2014, 01:36:16 AM
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@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.
Wikileaks is still a very controversial enterprise and many payment processors does not want anything to do with them. Wikileaks would need to open an account on an exchange and open a bank account to receive the money to. Both the exchange and bank would become magnet for possible regulatory action/investigations that are unrelated to their dealings with wikileaks.

They also tried to start accepting BTC donations in the early days of BTC, but satoshi asked they not accept BTC donations because it would attract too much attention to BTC when BTC was too young.

Source?

finally found it.. it was on page 3. https://bitcointalk.org/index.php?topic=1735.msg26999#msg26999

Basically, bring it on.  Let's encourage Wikileaks to use Bitcoins and I'm willing to face any risk or fallout from that act.
No, don't "bring it on".

The project needs to grow gradually so the software can be strengthened along the way.

I make this appeal to WikiLeaks not to try to use Bitcoin.  Bitcoin is a small beta community in its infancy.  You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.


here is also his 2nd to last post. i think the wikileaks issue was what sent him away. https://bitcointalk.org/index.php?topic=2216.msg29280#msg29280
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August 11, 2014, 01:38:54 AM
 #40

@question authority: Wikimedia needs to sell those coins. Like they need to sell stock donated to them. Even if they'd love to hold them, they can't because of the structure of their foundation. Read it up..

I don't believe for one second that they bought Bitcoin for pennies and sold it later for a huge profit. If that were true why not just start accepting Bitcoin donations several years ago when they were first approached? Also, where did they exchange them? Do they have an address that can be checked? That's total BS. They finally know an easy way to get cash for them so they accept them now.
Wikileaks is still a very controversial enterprise and many payment processors does not want anything to do with them. Wikileaks would need to open an account on an exchange and open a bank account to receive the money to. Both the exchange and bank would become magnet for possible regulatory action/investigations that are unrelated to their dealings with wikileaks.

They also tried to start accepting BTC donations in the early days of BTC, but satoshi asked they not accept BTC donations because it would attract too much attention to BTC when BTC was too young.

Source?

finally found it.. it was on page 3. https://bitcointalk.org/index.php?topic=1735.msg26999#msg26999

Basically, bring it on.  Let's encourage Wikileaks to use Bitcoins and I'm willing to face any risk or fallout from that act.
No, don't "bring it on".

The project needs to grow gradually so the software can be strengthened along the way.

I make this appeal to WikiLeaks not to try to use Bitcoin.  Bitcoin is a small beta community in its infancy.  You would not stand to get more than pocket change, and the heat you would bring would likely destroy us at this stage.



Nice find. He was right after all Wink
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