CryptoCoinsInfoClub.com

Bitcoin Philanthropy

Pineapple Fund

Pineapple Fund

Donating $86 million of bitcoins to charity because once you have enough money, money doesn't matter On a larger scale, the Pineapple Fund created a more mysterious form of cryptocurrency philanthropy. The organization was started in December by an anonymous donor who goes by the nickname Pine and claims to be among the 250 largest holders of Bitcoin in the world. The fund aims to give away $86 million worth of Bitcoin, and has already given $20 million worth of the currency to 13 organizations, including million-dollar donations to the Water Project, which provides clean water to people in sub-Saharan Africa, and the Electronic Frontier Foundation, a digital rights watchdog. (These donations can be verified thanks to Bitcoins digital ledger system, which records every transaction in a public database.) Whoever Pine is, he or she seems to have found a way to convert Bitcoin into something actually useful. Press coverage: Quartz | Hacker Noon | The Guardian | New York Times | Mashable | CNBC | Newsweek | Inverse | BBC Radio | Business Insider | Forbes | Bitcoin Magazine | TNW | PCMag From clinical trials of psychedelics for PTSD to teaching kids to read & write, Pineapple Fund is about making bold and smart bets that hopefully impact everyone in our world. The Pineapple Fund is not affiliated with any supported charity. Listed in order of funding. Applications are now closed for the Pineapple Fund. Feb 2018 Update: We've finished reviewing all applications for the Pineapple Fund. We've received thousands of applications and we sadly can't fund all of them. We're working with the charities we've selected to transfer the bitcoins. Sometime around the early days of bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens. Continue reading >>

Bitcoin Philanthropist Donated $1 Million To Psychedelics Research

Bitcoin Philanthropist Donated $1 Million To Psychedelics Research

People are stashing irrevocable child porn links, dox, copyright infringement, and leaked state secrets in the blockchain By design, data placed in the blockchain is visible to everyone in the world and can never be removed; everyone who mines bitcoin makes a copy of the blockchain, and so any illegal content stashed in the blockchain ends up on the computers of every miner. Browser plugin replaces the word "blockchain" with "multiple copies of a giant Excel spreadsheet" Cynthia Lee, inspired by a tongue-in-cheek request by Christopher Mims, created a Chrome browser extension that replaces the word blockchain with the phrase mulitple copies of a giant Excel spreadsheet. WHAT: This is a Chrome browser extension that can help readers contextualize news stories with hype about blockchain technology, by reminding you that blockchain is, [] Excellent explainer: how consensus algorithms (including Bitcoin/blockchain) work The creation of "public ledgers" -- like blockchain, popularized by Bitcoin -- requires "consensus algorithms" that allow mutually untrusted, uncoordinated parties to agree on a world-readable, distributed list of things (domain names, transactions, title deeds, etc), something that cryptography makes possible in a variety of ways. Explore today's top machine learning tools in this bundle Machine learning is all around us. From Googles search engines to Teslas self-driving cars, this field powers many of todays AI innovations, and, as more of these products find their way into the mainstream, understanding how they work is going to be a valuable skill. Regardless of your experience level, thePay What You Want: The [] Learn front-end development with JavaScript If you have aspirations of making it as a web developer, youre likely going to need to master Java Continue reading >>

Bitcoiners Turn To Philanthropy

Bitcoiners Turn To Philanthropy

Luke Parker , 15 Jan 2018 - Bitcoin , Charity , Donation Using Bitcoin to send donations is a well-worn and proven concept, and 2017s unprecedented bitcoin gains have enabled various early adopters to launch philanthropic endeavours. Wikileaks became the first to take advantage of bitcoin for donations in 2010, and has championed its use ever since. The first rush of mainstream charities accepting donations was in 2015. BitGive then developed a charity donation tracking platform that uses a custom blockchain that allows donors to see exactly where charitable funds go, and the impact they have. The platform helps streamline the process of donating to charities in a much more transparent way than was previously possible. The platform has since facilitated several rounds of crowdsourced donating, for charities located in Kenya, Brazil, Nepal, the Philippines, Mexico, and the USA. The service was one of the first three to receive $1 million from a new endeavor announced by an anonymous bitcoiner in December, the Pineapple Fund . The Pineapple Fund will donate 5,507 Bitcoins, worth ~US$74 million, to various charities and good causes. At press time, the Pineapple funds owner, who goes by the moniker Pine, has already delivered more than $20 million worth of bitcoin to 27 different charities. My identity is a mystery, and I'd like for it to remain that way. Pineapple Fund is not about publicity. I can tell you that I am a software engineer, and I'm passionate about bringing good to this world and leaving an impact, with as little impact to my personal life as possible. Every few days a trickle of new donations are announced, despite the waiting list having over 10,000 applicants, according to the generous philanthropist. Pine told BraveNewCoin that they started accumulating Continue reading >>

Anonymous Bitcoin Whale Promises To Give $86 Million To Charity

Anonymous Bitcoin Whale Promises To Give $86 Million To Charity

If you had a fortune in bitcoins, what would you do with it? One Bitcoin whale (a term often used for someone who owns a lot of bitcoins) has decided to simply give most of it away to charities. The anonymous benefactor announced his intentions on Reddit , and launched a site for this endeavor which he had called the Pineapple Fund . SEE ALSO: Bitcoin just made the Winklevoss twins billionaires "I remember starting at bitcoin a few years ago. (...) Bitcoin has changed my life, and I have far more money than I can ever spend. My aims, goals, and motivations in life have nothing to do with having XX million or being the mega rich. So I'm doing something else: donating the majority of my bitcoins to charitable causes. I'm calling it The Pineapple Fund," he wrote on Reddit. According to its website, the fund is donating to worthy charities, preferably registered, and not individuals, but exceptions may be made in "exceptional circumstances." The fund totals 5,057 bitcoins, which is about $86.4 million at today's prices, and it represents the majority of the owner's cryptocurrency holdings. Of course, with the benefactor being anonymous, it's hard to divulge his or her true intentions, but the Bitcoin address associated with the fund indeed had a balance of 5,058 bitcoins and has sent out a total of 228 bitcoins so far. So far, the Pineapple Fund has donated $1 million to Watsi , The Water Project , the EFF and Maps , as well as $500,000 to the BitGive foundation. I'm extremely grateful for the support @watsi has received from the Pineapple Fund. Their btc is going to help a lot of patients access healthcare. Chase Adam (@ChaseAdam17) December 14, 2017 So why do all this and remain anonymous? The fund's creator has an interesting explanation in the FAQ. "The more bitcoin go Continue reading >>

Search For

Search For "bitcoin" - The Chronicle Of Philanthropy

The BitGive Foundation, which raises money in digital currency for charitable causes, says it has become the first entity of its kind to be granted nonprofit status by the Internal Revenue Service, the Sacramento Business Journal writes. Daily News Roundup: What 2018 Holds for Impact Investing Predictions from leaders of four major institutions. In other articles, dozens of refugee resettlement offices in the United States may close; San Francisco's Internet Archive is given $1 million worth of Bitcoin; grateful fans of football star Andy Dalton are giving to his foundation; real-estate agents and developers are working to lure buyers who want to live in communities involved in philanthropy; and more. Entrepreneur and author Salim Ismail talks about how established organizations can, and must, retool to move at the explosive speed of technological change. Daily News Roundup: Helping Charities Pays Off for Corporations Other articles in a New York Times special section on giving includes a piece on how donors are using bitcoin and how to do research on giving. In other news and features, donor data was exposed in a Denver Art Museum hack, a former accountant at Arc inHawaii has now been accused of stealing $7 million; environmental groups are trying to involve more minorities; and more news about endowments, Congress, and tax policy. The head of the university's foundation and its chief development officer are resigning after the unraveling of a promised gift from a supposed billionaire with a history of making grandiose promises, The Oregonian reports. Daily News Roundup: Humane Society CEO Resigns Wayne Pacelle stepped down after sexual-misconduct allegations, a revolt by major donors, and a threat from employees that they would walk out. In other news, the founder of Continue reading >>

Donating Bitcoin To Charity | Fidelity Charitable

Donating Bitcoin To Charity | Fidelity Charitable

How donating bitcoin directly to charity increases the size of your gift Before you sell bitcoin and donate the after-tax proceeds, consider donating your bitcoin directly to charity. This model includes two significant benefits, both for you and the charity: Your tax deduction will be equal to the fair market value of the donated bitcoin (as determined by a qualified appraisal). Your gift to charity will be larger because instead of paying capital gains taxes, the 501(c)(3) charity will receive the full value of your contribution. Theres another upside to donating bitcoin to a public charity with a donor-advised fund program such as Fidelity Charitable: the opportunity to recommend how the contribution is invested and potentially grow it tax-free, ultimately providing greater charitable/philanthropic support. Contributing bitcoin to Fidelity Charitable means your tax deduction and your charitable gift may instantly increase over 20%. Charities are exempt from paying capital gains on the sale of assets, so the full value of your gift stays intact. Consider this example: 1This assumes all realized gains are subject to the maximum federal long-term capital gains tax rate of 20% and the Medicare surtax of 3.8%. This does not take into account state or local taxes, if any. 2Amount of the proposed donation is the fair market value of the appreciated property held more than one year that you are considering donating as determined by a qualified appraisal. 3Assuming a contribution of 100 bitcoin. Alexs tax basis assumed to be $100/bitcoin. If Alex sold 100 bitcoin for $250,000, he would have $240,000 in capital gains and would pay $57,120 in tax. What could this extra funding mean for charity? Depending on the organizations you choose to support, consider this example Support Continue reading >>

Anonymous Bitcoin Donor Rains $56 Million On Stunned Nonprofits - The Chronicle Of Philanthropy

Anonymous Bitcoin Donor Rains $56 Million On Stunned Nonprofits - The Chronicle Of Philanthropy

News and analysis: It Just Felt Like a Miracle: Small Groups Win Big in Bitcoin Donors $56 Million Giving Spree It Just Felt Like a Miracle: Small Groups Win Big in Bitcoin Donors $56 Million Giving Spree One day in January, Linda Tannenbaum opened an email that would radically change her small, medical-research charity almost overnight. The note said that her organization would soon receive a gift of $1 million, to use as it saw fit. Over the next couple of weeks, she swapped emails with the donor, whom she knew only by the alias "Pine" and with whom she never spoke. It was an informal exchange, with Pine occasionally adding a smiley face or an exclamation mark. Then Pine sent Tannenbaum another second surprise email: "Id be happy to discuss making a larger contribution," it read. Soon after, Pine promised an additional $4 million. Today, the Open Medicine Foundation is working with scientists on a host of studies to be funded with this $5 million $2 million more than what it raised in 2017. It is just one of nearly 60 organizations, mostly charities, to receive windfall gifts from Pine ranging from $50,000 to $5 million. Pine began this most unusual giving spree in December, aiming to give away the majority of a newly earned fortune in bitcoin. "I have far more money than I can ever spend," Pine said on the social-media platform Reddit and invited groups to apply for money. Pine agreed to a phone interview with the Chronicle on the condition that the article include no identifying information. In the interview, the donor said the run of giving was over. After combing through more than 10,000 applications for funding with the help of friends, Pine made nearly $56 million in contributions, leaving a trail of delighted, often stunned nonprofit leaders. Unlike many big p Continue reading >>

What Bitcoin And The Blockchain Means For Charities

What Bitcoin And The Blockchain Means For Charities

WHAT DOES BITCOIN AND BLOCKCHAIN TECHNOLOGY MEAN FOR CHARITIES? Bitcoin is an example of cryptocurrency: a new form of digital money not linked to a government or central bank. The technology which makes this possible is the blockchain: a revolutionary new type of ledger for transactions that is owned and maintained by all the users of the system rather than being controlled by a single authority. Cryptocurrency and blockchain technology have some fascinating features that could have a huge impact on charities and charitable giving . In this series of videos based on three discussion papers, we explore what this impact might be. New models of digital 'cryptocurrencies', such as Bitcoin, could present both major opportunities and challenges for charities. In this video we look at some of these opportunities and challenges, such as the potential for radical transparency of donations, the possibility of making it easier to get aid money to where it is needed and the challenge of anonymous cryptocurrency donations. The blockchain is the decentralised, shared public ledger at the heart of Bitcoin and other cryptocurrencies, but it also has far wider applications. This video looks at the role blockchain technology could play in boosting transparency and trust in charities; the impact of new assets becoming available for giving, and the potential for smart contracts that govern philanthropy. This leads to the idea that in the future, smart domestic appliances could become AI philanthropists. In this video we consider whether blockchain technology could be used to transform the way charities are created and regulated. We look at what it might mean for registering and monitoring charities; whether it could open up the possibility of 100% transparent, real-time financial informa Continue reading >>

Fifteen Ways To Donate Bitcoin To Charity This Holiday Season

Fifteen Ways To Donate Bitcoin To Charity This Holiday Season

Fifteen Ways to Donate Bitcoin to Charity This Holiday Season The holidays are coming, and as bitcoin has increased in value, many crypto-proponents are donating their funds during this years season of giving. Theres a whole lot of charitable efforts and causes accepting bitcoin this year, and weve hunted down a wide variety of nonprofits for your convenience. Also read: Options Giant CME Launches Bitcoin Futures Heres What to Expect Every year people donate to charities across the globe but during the month of December, well over a quarter of the worlds annual donations are given to nonprofits. Further, the last three days of the year see the most giving, as those three days represent 10 percent of the funds donated every year. This year, now that bitcoin has reached new all-time highs and is currently valued at roughly $18,900, bitcoiners are giving more satoshis than ever before. For instance, Fidelity Charity who accepts bitcoin raised over $22 million worth of BTC this year, eclipsing all the other years prior. Since its the season of giving we decided to aggregate a list for our readers of well known charitable causes that accept bitcoin. Charitable Causes That Accept Cryptocurrency Donations The Electronic Frontier Foundation is a well known charitable organization that focuses on protecting the civil liberties within the digital world and online. The nonprofit was founded in 1990 and has accepted bitcoin for donations since the spring of 2013. BTC donations go towards, policy research, internet litigation, software development, and more. Many bitcoiners believe the EFF is a great organization that fights for open source development and the freedoms tethered to the digital information age. The Multidisciplinary Association for Psychedelic Studies (MAPS) Another Continue reading >>

Anonymous Bitcoin Philanthropist Donates $5 Million To Medicine Foundation

Anonymous Bitcoin Philanthropist Donates $5 Million To Medicine Foundation

February 2, 2018 / 6:55 PM / 2 months ago Anonymous bitcoin philanthropist donates $5 million to medicine foundation LONDON (Reuters) - An anonymous benefactor has donated $5 million (3.53 million pounds) in bitcoin to the California-based Open Medicine Foundation, the non-profit research organisation said on Friday. A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. REUTERS/Dado Ruvic/Illustration The OMF said it had received $4 million on Friday, having received $1 million from the same donor last month, via the account that it holds with BitPay, a bitcoin payments firm that converted the donation into U.S. dollars. The money came from an anonymous donor calling themselves Pine from the Pineapple Fund, whose website says that it has already donated around $37 million anonymously to various charities and projects. The fund intends to donate $86 million in total, according to the website. Donating $86 million of bitcoins to charity because once you have enough money, money doesnt matter, the website states. It also says the fund holds one of the top-250 richest bitcoin wallets in the world, with Pine having got into the market early. Bitcoin allows money to be sent anonymously across a peer-to-peer global network, with no intermediaries needed to validate or process transactions. That has made it attractive to those who want to keep their identity secret, including those buying and selling illegal goods and services on the internet. OMF set up its BitPay around a year ago to enable anonymous donations. Until now, though, the take-up has been low, with the total bitcoin donated in the thousands of dollars. This significant donation will help OMF accelerate and expand current research into ME (my Continue reading >>

Meet

Meet "pine," The Bitcoin Philanthropist Who Set Up The $85 Million Pineapple Fund

Meet "Pine," the Bitcoin Philanthropist Who Set Up the $85 Million Pineapple Fund December 15, 2017, 02:04:04 PM EDT By Giulio Prisco, Bitcoin Magazine Yesterday, one post set the Bitcoin subreddit on fire: An anonymous Bitcoiner who goes by the name of "Pine" announced that they are establishing the Pineapple Fund to donate 5,057 BTC, worth about $86 million at today's exchange rate, to charitable causes. "I'm very happy that I have held on to most of my bitcoins until today," Pine told Bitcoin Magazine . "Most early adopters of bitcoin actually don't have much. They've sold to pay bills and expenses." Indeed, last week it was revealed that Bitcoin evangelist Andreas Antonopoulos was one of those who had not been in a position to hold his early coins long enough to reap the rewards. In a subsequent outpouring of appreciation, Bitcoin enthusiasts sent him donations of more than 100 BTC, equivalent to more than $1.7 million. In this same spirit of giving back, Pine is sharing their own newfound wealth. "Sometime around the early days of bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens," states the Pineapple Fund website. "The expectation shattering returns of bitcoin over many years has [led] to an amount far more than I can spend. What do you do when you have more money than you can ever possibly spend? Donating most of it to charity is what I'm doing." Some charities that are already receiving donations from the Pineapple Fund include Watsi , The Water Project , EFF , MAPS , SENS Research Foundation , charity: water ($1 million each), BitGive ($500,000) and OpenBSD ($50,000). Have you heard?! Yes, it's TRUE! We received an extremely generous donation of $500K from the Pineapple Fund!! HUGE THANKS!! Pineapple Continue reading >>

Pineapple Fund Gives $5 Million In Bitcoin To Fight Poverty With Cash

Pineapple Fund Gives $5 Million In Bitcoin To Fight Poverty With Cash

The Pineapple Fund , a brand new charity project set up to give away an anonymous donor's $86 million of bitcoin to good causes, just donated $5 million to sponsor unconditional cash transfers to people in Kenya, Uganda and Rwanda living in extreme poverty, according to a Reddit post from the fund's founder, who operates under the name of Pine. The donation was confirmed in a tweet by the receiving charity. "Bitcoin has changed my life," Pine says in another post . "I have far more money than I can ever spend. "My aims, goals and motivations in life have nothing to do with having XX million or being the mega rich. So I'm doing something else: Donating the majority of my bitcoins to charitable causes." The most recent charity to receive a donation is GiveDirectly , whose mission is to "send money directly to the extreme poor." "Traditional ways of giving internationally are complex," says GiveDirectly's website. "Overall it is hard for donors to tell how their money will be used, what this will cost, and whether there is any evidence that it works. "We've created a simpler way: Modern payments technology has drastically cut the costs of sending money directly to the extreme poor, at the same time as new research has shown the powerful effects this has on their lives. We see these trends converging to make direct giving the benchmark against which the old, top-down models are evaluated." GiveDirectly's team locates poor communities using publicly available data. Then it sends staff door-to-door to audit and enroll recipients. After quality checks, the team initiates digital transfers of "roughly $1,000 or around one year's budget" to recipient households. "We use electronic payment systems; typically, recipients receive an SMS alert and then collect cash from a mobile mo Continue reading >>

Bitcoin Mega-philanthropist 'pineapple' Talks About Psychedelic Research

Bitcoin Mega-philanthropist 'pineapple' Talks About Psychedelic Research

Bitcoin Mega-Philanthropist 'Pineapple' Talks About Psychedelic Research {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. {{article.article.magazine.subscription_text}} Late last year, an anonymous organization, the Pineapple Fund, came out of nowhere and started writing large checks to nonprofits . The fund had a simple website and stated that the founder (or founders) were pledging a whopping $85 million of their Bitcoin fortune to charity, including to a relatively obscure, but rising star in Silicon Valley dedicated to advancing psychedelic-assisted medical therapy, the Multidisciplinary Association for Psychedelic Studies (MAPS). Needless to say, this caused a swirl of interest in the media, not just because of the fascination with the new-money guard of early Bitcoin enthusiasts, but because the only way to get ahold of the mysterious fund was an email address, which I'm sure is being overwhelmed with solicitations. I managed to get an interview with the founder of the Pineapple Fund, who goes by "Pine", and asked about the decision to give $4 million in matching grants to MAPS. Below is a lightly edited transcript of our conversation. I should note that I decided to post this as a transcript, rather than paraphrase the interview because talking about psychedelics is such a deeply personal experience and the nuance is important, even if there are some grammar issues with the un-edited response. I got a feeling for Pine's personality in his/her emails and wanted to preserve that for readers. Me: Briefly, why did you st Continue reading >>

Bitcoin Donor Pineapple Fund Gives $53m Of Bitcoin To Charity Groups | Observer

Bitcoin Donor Pineapple Fund Gives $53m Of Bitcoin To Charity Groups | Observer

Blockchain has the potential to disrupt philanthropy, both on the fundraising side and the giving side. Dan Kitwood/Getty Images Over the past few months, Bitcoin has suffered from a bad reputation for facilitating cross-border money laundering, defrauding securities investors and giving financial regulators major headaches, all due to its distributed nature. However, a wealthy Bitcoin owner who is determined to do some good with the cryptocurrency is about to shatter all of those ugly images. In December 2017, when Bitcoin reached its all-time high of nearly $20,000, a mysterious Bitcoin owner decided to donate 5,057 Bitcoins, worth $86 million at the time, to charity. He/She announced the grand plan, named the Pineapple Fund, on Reddit and started a simple website to accept funding applications. The intention of its founder, who goes by the alias Pine, was unremarkably simple. Pine began buying Bitcoin when it was worth less than $1 and got ludicrously rich as Bitcoin skyrocketed in the following months. So many people in this world whos put in far more effort and have far less. Spending that money on myself is wasting it, Pine told Forbes in a recent interview . The marginal value of money for me is minimal. From a value perspective, I create value by re-distributing most of the money to people wholl enjoy it more than me. Crypto almost became a weight on me. So far, the Pineapple Fund has given away all 5,057 Bitcoin, which were converted into $53 million, to 59 organizations, ranging from $250,000 to $5 million each. While the Pineapple Fund didnt specify causes that it supports, about half of the donations went to organizations focusing on health care and conservation. It was like a dream, said Linda Tannenbaum, whose nonprofit, Open Medicine Foundation (OMF), a Continue reading >>

Bitcoin Philanthropist Sets Up $85m Investment Fund To Support Charities

Bitcoin Philanthropist Sets Up $85m Investment Fund To Support Charities

Bitcoin philanthropist sets up $85M investment fund to support charities We have all heard the rags to riches success stories that often circulate within the cryptocurrency community, but not like this. Instead of splurging out on luxurious cars and houses, one early Bitcoin adopter is using the wealth he accumulated to set up an $85 million investment fund to support charities and charitable causes. I remember starting at Bitcoin a few years ago. When Bitcoin broke single digits for the first time, I thought that was a triumphant moment for Bitcoin, the anonymous benefactor said. Bitcoin has changed my life, and I have far more money than I can ever spend.My aims, goals, and motivations in life have nothing to do with having XX million or being the mega rich. So Im doing something else, the masked hero continued, [Im] donating the majority of my Bitcoins to charitable causes. Im calling it The Pineapple Fund . The charitable man has pledged a total of 5,057BTC to the investment fund, with plans to back any charitable cause across the globe as long as it fits the criteria. So far, the fund has donated 163BTC to healthcare startup Watsi , clean water initiative The Water Project , blockchain philanthropy foundation BitGive , and digital rights activist EFF . For the record, this equals a total investment of $3.5 million. This leaves 4,895BTC (approximately $84 million) more to give out. In case you feel your company might be eligible for donations, The Pineapple Fund is currently accepting applications. Your organization should be a registered nonprofit organization in your country, the website reads. Inexceptionalcircumstances, we may make exceptions. All approved parties will receive the donation via a Bitcoin transfer. The Pineapple Fund says it will help those unfam Continue reading >>

More in bitcoin