Wiki community votes to stop accepting cryptocurrency donations

The wiki community held a vote as to whether the Wikimedia Foundation should continue to accept cryptocurrency donations, the result of which was a resounding "no". The proposal was made by Wikipedia administrator, checkuser and oversighter GorillaWarfare based on three points: it could be seen as an endorsement of …

[Pascal Monett]

"Beggars can't be choosers"

At 0.08% of $162 million, you're far from begging.

[Potemkine!]

Re: "Beggars can't be choosers"

Add to this that the proposal is false.

[Disgusted Of Tunbridge Wells]

Re: "Beggars can't be choosers"

They are begging, pretending they're skint.

[nintendoeats]

Re: "Beggars can't be choosers"

They run some of the most widely used websites on the internet, and a lot of other stuff besides. Consider what their income would be if they were a for-profit organization. $162 million seems completely reasonable, and is easily worth it for the services they provide.

[FIA]

Re: "Beggars can't be choosers"

They're not a for-profit organisation though. They're a charity.

A charity who's net assets total 230 million dollars. This has only increased year on year.

They have $87 million in cash.

They run a website with content entirely provided by (unpaid) volunteers.

[the spectacularly refined chap]

Re: "Beggars can't be choosers"

But their hosting costs are a tiny fraction of their revenues, and the bulk of the value is created by a volunteer community. El Reg has reported repeatedly on the foundation's finances, noting the bulk seems go on political lobbying in the USA and not always for causes that are natural bedfellows of the community.

Something to bear in mind next time they put that disruptive begging bowl header on top of every page.

[katrinab]

Re: "Beggars can't be choosers"

I'm pretty sure some of their donations are "donations in kind" from hosting providers.

ie the hosting provider provides hosting for free. IRS regulations require them to report the value of the free hosting as a donation, and the hosting provider probably gets a tax deduction for it.

Nothing wrong with any of that of course, just something to be aware of when assessing their finances.

[The Man Who Fell To Earth]

Reputation?!?!? Seriously!?!?

I didn't know anyone held the Wikipedia Foundation in high regard.

[badflorist]

Re: Reputation?!?!? Seriously!?!?

Well... it's higher now than it was yesterday.

I think it might be prudent for them to accept bitcoin generated only before a certain date... say 2022-04-13.

[Potemkine!]

"Bitcoin is an official currency in El Salvador."

From https://www.transparency.org/en/countries/el-salvador

Corruption Perceptions Index - 2021 Rank: 115/180

Percentage of public service users paid a bribe in the previous 12 months: 14%

Score change: -2 since 2020

[badflorist]

That site ranks the USA 27th, so El Salvador is over 4 times LESS corrupt.

EDIT: Never mind, 27th is good (America == good... duh). That site ranks all English/1st-World countries at the top. Sounds about right for a English/1st-World website. After all, if you're not with us, you're...

[TeeCee]

...that $130k could pay a salary...

Always assuming that you don't mind your salary fluctuating wildly dependant on what Elon Musk said on Tw@ter this week.

[Blackjack]

Cryptocurrencies are Scam Land, you literally can't go a month without hearing of one, unless you are not looking. Only NFT is worse.

Just ask Coffeezilla on YouTube.

A service that puts donators at risk should simply not be used.

[Mayday]

"Only NFT is worse"

NFT = No Fucking Thanks

[ElRegioLPL]

"get almost nothing"

$130k. Nothing.

OK.

[Blackjack]

When you get 99 times more by other means? Yeah is nothing, more so with Crypto getting taxed in recent years and how wildly the value fluctuates.

Say someone donates ten dollars, between taxes and conversion The Wiki guys get eight... six... oh look now is four!

[Anonymous Coward]

What

they don’t accept donations in heroin or cocaine either?

[Anonymous Coward]

Kooky Kult

Krazy Kooky Kultists always want money.

- Citation needed

[Anonymous Coward]

If they're so well off that they don't want donations presumably the messages begging for money will go away?