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Are crypto donations about to end?

3 min read

Currently playing Wikimedia-Community with the idea of ​​​​putting an end to crypto donations as well. Like Mozilla in the past, Wikimedia relies on the service provider here Bitpayto be able to accept cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) as donations. In doing so, however, the respective token is converted into fiat money before it reaches the organization’s account.

The Meta-Wiki – a Wikimedia forum used for discussions of new proposals – houses the corresponding one discourse.

Life Cycle Assessment and the “Crypto Image”

In contrast to the course, you don’t want to see dizzyingly high numbers when it comes to the ecological balance. But it is precisely this topic that some panellists bring up. However, arguments range from “the environmental impact of a BTC transaction” to “BTC is an incentive for green energy”. So, while some bemoan the potential environmental impact of cryptocurrencies, others argue that the payment alternatives — well PayPal, credit cards and Co. – could even consume more energy.

While the environmental impact is by far the most hotly debated topic in the Wikimedia debate, other arguments also found their place. The user who called for crypto donations to be stopped wrote that these could damage Wikimedia’s reputation. Because even open source projects like Mozilla eventually had concerns.

“Many people can benefit from the discussion”

Although the votes of the Wikimedia community carry weight, this does not remain the only decision-making criterion. Rather, the quality of the various arguments is felt to be decisive.

Ultimately, however, it is about a valuable crypto discourse that would not have been possible without Wikimedia. Rene Pickhardt, BTC Lightning specialist and active Wikimedia member, explained his position:

The proposal and the reflections have already led to that over 200 people contributed to the debate with a total of over 500 contributions to the discussion and put forward and partly refuted a large number of arguments. I’m delighted that the Wikipedia community is dealing with this issue so intensively and I think that many people can benefit from the discussion to form their own differentiated opinion. I’m excited to see what the community will ultimately decide.

Rene Pickhardt

Pickhardt drew attention through one tweet about the Wikimedia discussion. He personally linked El Salvador’s President Nayib Bukele. The Lightning specialist is primarily concerned with the effects on the Central American country. Because this has introduced BTC  as legal tender.

“At the time of my tweet, I hadn’t seen that the fact that BTC is legal tender in El Salvador had found room in the discussion,” told Pickhardt. “However, I think that this fact should play a role in deciding and weighing up the arguments, because I believe that Wikipedia sees itself as a global and inclusive movement,” says the Lightning specialist. “Basically, I find it exciting how many effects – not only in the context of the Wikimedia debate – the new legislation in El Salvador has.”

Because that’s what Wikimedia and other open source projects are all about. Crypto donations or not – the resulting crypto discourse, which can bring the topic closer to many people, is ultimately priceless.

Increased correlation between BTC and the stock market poses a risk

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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