Coinbase threatened by Israeli NGO with lawsuit for enabling Bitcoin [BTC] donations to Hamas – AMBCrypto
I didn’t know this, but from this link: https://www.sens.org/outreach/press-releases/srf-2017-year-end-fundraiser-achieves-over-5-million-in-donations
$4.4M from the $5M donations to SENS was from Bitcoin + Vitalik.
This is just crazy, there are so many billionaires and they just want more money, and don’t understand that it doesn’t matter how much they have if they drop dead in 30 years.
Do you really have to believe so much in Bitcoin to be a believer in fixing damages in aging?
I was watching a Twitch.tv Stream earlier and saw someone tipping the streamer with Satoshis! Just amazing. There are so much possibilities for the Lightning Network. Tips and stuff like that are just the beginning.
Here is a screenshot of it [https://imgur.com/a/Gw4yKuH](https://imgur.com/a/Gw4yKuH).
For anyone wondering, I think he was using this to Display the tips on Stream: [https://lnwallet.io/tip/41](https://lnwallet.io/tip/41)
So lately Hamas has sent out their donation addresses and there’s been some people donating BTC to them.
AMLT has just released an analysis of these addresses: [https://www.coinfirm.com/blog/hamas-bitcoin-contributions-originate-from-wallets-on-the-largest-cryptocurrency-exchange](https://www.coinfirm.com/blog/hamas-bitcoin-contributions-originate-from-wallets-on-the-largest-cryptocurrency-exchange)
Here’s a Q&A to understand why a nonprofit focused on sustainable agriculture and peer-support training has begun accepting crypto donations. This small to medium size nonprofit is accepting crypto donations via BitPay and Globee (BTC, XMR, ETH, LTC, DOGE, BCH, DCR, LNBT, XRP).
Q: Why would you accept cryptocurrency as a donation?
A: Many reasons, but primarily to attract new donors, to show support for innovation, to encourage adoption and education of crypto and it’s current legal implications, and to demonstrate a use-case.
Q: How do you educate people about crypto?
A: Our website provides resources to learn more about blockchain technology and cryptocurrency, as well as to help understand IRS financial and legal implications of potential donations. For example, did you know that crypto donations valued over $5,000 require donors to work with a Qualified Appraiser in order to claim a tax deduction to the IRS? We didn’t either until we started looking into this more seriously. See bottom of page for resources: https://growingveterans.org/how-to-help/cryptocurrency.html
Q: Do you off-load to fiat or keep the crypto?
A: The board of directors has voted for the nonprofit to keep the crypto but maintains the ability to off-load to fiat to help the organization cover any urgent financial needs. The nonprofit supports it programs through other fundraising initiatives and does not need to depend on crypto donations. They intend to hodl and view this as a potential future source of stable income for program support if mainstream adoption takes place.
Q: How many different coins do you hold?
A: Due to nonprofit accountability requirements and limitations with staff needing to focus on key programs instead of crypto, the nonprofit only keeps Bitcoin. Globee can accept multiple payment options (BTC, XMR, ETH, LTC, DOGE, BCH, DCR, LNBT, XRP), and convert the donations to our Bitcoin wallet. As an example, someone could donate the private and anonymous Monero and the nonprofit would receive the same value in bitcoin to our transparent Bitcoin wallet.
Q: How do you ensure staff doesn’t steal your coins?
A: Currently keys are kept in a safe location, and we plan on upgrading to a multi-sig wallet when staff and board of directors have had more training on the technology. Additionally, since we are on the transparent Bitcoin blockchain any stolen coins could be traced.
Q: How much Bitcoin do you have?
A: Not much. Bitcoin is transparent, so you can see for yourself (link to block explorer on our website).
Any other questions? Any ideas or suggestions for us? Reply in the comments.