Bitcoin Philanthropy Rebuilding the Lives and Livelihoods of People Solving Real Problems of True PeopleJanuary 14, 2020
Bitcoin Cash continues to fulfil its original promise of Electronic peer-to-peer cash. No matter what governments or central banks have to say, Bitcoin Cash is here to stay. Bitcoin is not just speculation. It reigns as the most widely used digital currency in the world.
BCH is ideal for Merchants as one of their primary goals is to ensure quick payments for a low cost. The world is going digital, and Bitcoin is already the payment method on several online and retail shops. At the time of reporting the news, the price of the Bitcoin has been trending at $8,668.28.
Australian Wildfire Relief Bitcoin Cash and Fiat
Alex Saunders, on January 04, 2020, stated, “Thousands have already been donated. For those wanting to track the total amount raised, look at Total Received, not final balance if you are using a blockchain explorer. Deposited coins may be moved to a cold wallet for security until we donate the full amount. Thank you.”
Binance donated $1 million in cryptocurrency for the Australian Bushfire.
Sydney Ifergan Crypto Expert Tweeted: “Cryptocurrency did the tiny bit possible in rebuilding the lives and livelihoods of people – the millions of lives lost in the Australian Bushfire is an irreparable loss to the planet though! Perhaps, the least we can do is to extend the helping hand.”
Bitcoin Cash and Charity
When it comes to donating Bitcoin to charity, there is an advantage, particularly to a public charity that has a donor-advised fund program like that of Fidelity Charitable. “Fidelity Charitable accepts a wide range of cryptocurrency, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.”
Thus, facilitating improved philanthropic and charitable support as the full value of the gift stays intact because “Charities are exempt from paying capital gains on the sale of assets.”
There are very few people who are focused on Bitcoin Philanthropy. Several early-stage Bitcoin investors are mini-whales who are sitting on fortunes of appreciated value.
Governments are cracking down on them with taxes, and many of them will not be able to spend them. Thus, Bitcoin Whales making donations is an attractive concept, where the lives of several thousand can be instantaneously rebuilt.
Bitcoin philanthropy can, therefore, be efficiently used to rebuild the lives and livelihoods of people solving real problems of true people. Not all whales are interested in donating, though.
Bitcoin philanthropy would not make sense by merely giving the money to the needy in the form of BTC. Instead, an alternative economy that uses Bitcoin regularly, keeping the money circulated, is required for the wholesome success.