tl;dr: I’m excited to announce in the last month, I’ve helped 3 Nonprofits accept bitcoin donations, bringing in over $4million USD in BTC and more is on the way.
Update: The current running total is $5.25m and growing weekly! Full list below.
What is Bitcoin anyway?
You’ve heard it in the news, on forums and probably been sitting around the dinner table where the subject has come up. It’s complicated by design so it’s execution and potential can be simple.
Best presented by the creator themselves:
Bitcoin is a peer-to-peer version of electronic cash that allows payments to be sent directly from one party to another without going through a financial institution. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. – Satoshi Nakamoto
IOW, its a middle finger to the middle man (ie: Banks, VISA, etc) and bridges the value of cash transactions with the efficiency of digital, and everything is publically recorded via the concept of “the blockchain”.
And while it’s volatility is crazy, a shared dream of decentralized banking is proving to have an impact on many.
Now, I’m no crypto expert or contributor, but am an evangelist and love using tools to make it easier for humanity to grow and expand. i.e.: small-time investing, mining and using it to buy domain names.
Yet, I’ve always had the idea it could be used for a bigger impact and to make real change.
But… it wasn’t until recently I found a way to contribute in the largest way I could imagine, to help the amazing human[s] behind pineapplefund.org distribute millions and millions to worthy Nonprofits in an unprecedented mission of macro funding.
The Pineapple fund is on a mission to donate bitcoin to charity. $86million USD worth at that.
Done is better than Perfect
A little over a month ago my friends at Pencils of Promise called me and asked how we could support getting Bitcoin as a donation method and start asking for bitcoin donations. I had thought about setting this up last year but because of the overhaul we were already planning on, we’d skipped it for the time.
— Pencils of Promise (@PencilsOfPromis) December 17, 2017
We didn’t stress on integrating it into the main payment flow or worry about spacing/padding/fonts/sizes/workflows/etc. We wanted it done, and as a great reinforcement of one of my 2018 goals, we settled on the ‘done is better than perfect‘ mindset and celebrated.
Fast forward a week. My family and hopped on a plane to Hawaii for Christmas vacation (it felt good to warm up and wear sandals, let me tell you!). I got a call from PoP with BIG news.
We had applied and been accepted by Pineapple fund to receive an incredible $1 million dollars in Bitcoin!
I couldn’t believe it.
We were driving on Oahu at the time and thought “huh, good thing we just set that up”. Being without my laptop (what good is wearing sandals if you can’t disconnect, right?) I told them to call me if there were any troubles and hours later I got the notification it was done.
— Pencils of Promise (@PencilsOfPromis) December 24, 2017
ARE YOU KIDDING ME!? I was on Cloud 9.
The thought a week prior for fun I helped spend a few hours setting PoP up with a way to collect this digital currency and in ONE week’s time we’re up $1 million dollars was incredible.
Literally, look at the dates ^ Dec 17th (launch) –> Dec 24th ($$$).
Word Travels Fast
We returned from vacation and quickly got back into the swing. With two kids, a company & high-maintenance dog to manage, it’s not like we had a choice. I got another call from PoP that a friend of the organization, PossibleHealth was selected as well but needed some guidance.
A quick strategy session, pointing in the right directions, providing confidence and tightening settings and…
BAM! Another $1 million banked for an amazing organization.
“I could get used to this kind of helping others”. –Me.
Sometimes, You Just Have to Say Hi
Shortly after, I saw a Hacker News post about Pine’s MAPS donation matching and left a comment simply thanking them for being wonderful humans and to see if I could share some thoughts about making this campaign easier for the Nonprofits selected.
Pine replied, we connected over email and realized the most impactful way I could help was in teaming up to offer advice and support for those Nonprofits that needed guidance on accepting the funds.
I’m now multiple campaigns in, helping Pineapple spread the juice (couldn’t resist) and couldn’t be happier to lend the hand.
Here’s a running list of the transactions I’m honored to be part of facilitating:
- Pencils of Promise TX1 ($1M USD)
- Possible Health TX1 TX2 ($1M USD)
- Organ Preservation Alliance TX1 TX2 ($2M USD)
- Canine Therapy Corps TX1 ($250K USD)
- The Adventure Project TX1 ($1M USD)
Looking for advice?
There are so many ways to make this happen, and I’m happy to advise about the pros & cons of Coinbase, Bitpay, Stripe and other methods for nonprofits who are interested.
If you’re a charity who accepts or wants to accept bitcoin donations: Let me know or share your story below in a comment. I would love to hear from you.
📷 Photo by Alicia Youngken