Pineapple Fund: Donating $86M of Bitcoins to Charity

by apo • 9 years ago

430 213 9 years ago

chejazi• 9 years ago

People spend their entire lives focused on wealth accumulation.

Bitcoin has endowed many people with financial means in a way completely orthogonal to their day-to-day work. Say what you will about bubbles, but this "fund manager's" perspective is healthy check on reality.

mikepurvis2• 9 years ago

While true, as someone with a number of friends just now "getting into" bitcoin, I find the zero sum aspect of it troubling. Assuming a crash/correction is coming, most of the wealth that accrued to the early adopters will be at the expense of these later, less-informed "investors" who bought in thinking it was a no fail quick buck.

nihonde4• 9 years ago

That’s how markets work. Early adopters take risks that pay off when late-comers try to bet on a proven winner.

EmielMols2• 9 years ago

This a 100 times.

The crypto currency hype only (or at least mainly) redistributes wealth, in my eyes to (tech savvy) people-with-means-already.

Yes there might be empowering stories of "smart single moms" making serious money by betting on Bitcoin, but as a whole it only enlarges income equality between people, arguably one of the issues of our time.

Tepix3• 9 years ago

"no fail quick buck"? If you listen to mass media for the last several years whenever they mention bitcoin they tell you it's an incredibly risky investment.

PineappleFund• 9 years ago

Hi, creator of the Pineapple Fund here (pineapplefund.org/verification.txt)

I am actually quite sad to see the current state of the cryptocurrency community, and how people in it these days widely misrepresent the risk and intricacies of bitcoin/crypto.

When I first got into bitcoin, most people were there because they were fascinated in building a decentralized currency. Profit seeking was always a part, but not the predominant part.

I'm a little bit sad to see where crypto is today. But I think the original faction is still alive.

thkim5• 9 years ago

bitcoin is just extortion on craze of the crowd. if no income is been generated by it, then its value is arbitrary. an investment asset needs a cash flow to repay investment and then some. bitcoin has none. i admit bitcoin is not the only asset that has this characteristic.

egwor• 9 years ago

I hope that the charity looks to sell or hedge some of this....

TuringNYC• 9 years ago

Well, now that we have a futures market...

focal2• 9 years ago

I love that its anonymous and simple and the donations are transparent. Does anyone by chance know if there are restrictions on charities receiving anonymous bitcoin donations?

bennettfeely• 9 years ago

I'd love to know what the Electronic Frontier Foundation does exactly with millions and millions of dollars in donations. Based on Wikipedia it awards money to rich people with powerful computers for finding new prime numbers. But it seems to me the other charities are much more deserving.

devindotcom• 9 years ago

It's not some big secret. They're a major advocacy organization.

https://www.eff.org/cases

whamlastxmas• 9 years ago

They're like the ACLU for technology topics

sinak• 9 years ago

There are three general buckets of work that EFF does. All three are focussed on protecting user's online rights to free speech, security, and privacy - but each achieves that result in a different way:

* Legal: Taking on precedent-setting cases (e.g. establishing code as a form of speech, overturning Betamax Doctrine, challenging censorship laws). Full list is here: https://www.eff.org/victories

* Technology: Helping launch projects like LetsEncrypt (now its own org), Privacy Badger, Certbot, Panopticlick, Democracy.io, HTTPS Everywhere.

* Advocacy/activism: Pushing state & federal legislatures in the US and around the world to pass laws that protect user's rights, and not to pass laws that would harm them. Also to push regulatory bodies (e.g. FCC) similarly.

(I'm a Tech Fellow at EFF but not speaking for the org in any capacity)

dannyobrien• 9 years ago

(Full disclosure: I'm EFF's International Director)

Probably the two fastest ways to find out what we do (and how we're funded) is to:

* Read our annual report: https://www.eff.org/files/annual-report/2016/index.html (our reporting year is from June-July, so this is up to this summer).

* Read some of the stories from Hacker News -- our work is often covered here, because the topics we defend with our lawyers, activists and technologists are often close to people here. So, for instance, working to stop controls on crypto, the fight for net neutrality, defending people who are creating or innovating new tech, stopping the worst effects of DRM, tracking the consequences of AI, challenging mass surveillance in the courts, founding and supporting Let's Encrypt, etc. https://hn.algolia.com/?query=eff.org&sort=byDate&prefix&pag...

We've been around for over 27 years now, so some of the stuff you might discover online about us might not look so relevant now, but helped set the groundwork for the modern Net. So, it's now (almost exactly!) 20 years since the Internet censorship provisions of the Communications Decency Act was declared unconstitutional, but you still sometimes find GIFs of the Blue Ribbon Campaign EFF worked on to raise awareness of that issue on the early Internet. And the project you mentioned -- the Cooperative Computing Award -- is one of these earlier initiatives. It was fully funded in 1999 by a generous single benefactor, in order to encourage distributed computing in a period where it was felt that the incentives were more strongly aligned to centralise processing power. We've given out two of these prizes over the last 18 years, with two more to go. Of course, distributed computing -- including platforms like Ethereum and concepts like blockchain validation -- is more established now than it was in 1999.

Our budget for all of our work is in the order of $10 million, a large proportion of which comes from individual members' donations. To give hopefully relevant comparisons, the MPAA took $76 million in 2015; the 2016 budget for the ACLU was $138 million. We try to remain agile with what we have, but where new technology and civil liberties meet, there's always new things to do.

QML• 9 years ago

Speaking of charities, are most of them transparent and accountable with the funds they receive? I’d like to see a ledger of where every cent given to charity was used / spent.

focal2• 9 years ago

If it is a US based charity or foundation you can look at their IRS Form 990 to see sources and uses of funds. http://990finder.foundationcenter.org/

loceng6• 9 years ago

That'd be silly to tie such an obligation to support one of the purported most valued parts of blockchain..

gonehome• 9 years ago

This is often a difficult question to find an answer for and a lot of the other metrics for determining charity effectiveness are pretty limited.

Give well is a meta-charity that tries to find out which charities maximize donation effectiveness and might be a good place to start looking.

https://www.givewell.org/

philipwhiuk• 9 years ago

Not that it's not a noble objective. But the accountability stuff costs money which could otherwise be spent on the core purpose.

ForrestN• 9 years ago

This. I run a small non-profit. We would love to be hyper-transparent, but there are three of us working full time just to do the work that donors are supporting. We'd need to spend a lot of time and effort to release and contextualize all of that information, make sure it's current, and respond to the inevitable feedback and conversation that would be generated from releasing that information. Everything that sounds like it would be quick and easy, well, isn't.

hangonhn• 9 years ago

https://www.charitynavigator.org/

It's a good place to start.

almostApatriot1• 9 years ago

It'd be nice if some of the money were used to make it easier for charities to convert to cash as quickly as possible. Bitcoin pointlessly consumes so much dirty energy, I imagine many environmental charities see bitcoin akin to blood money.

antipodes12• 9 years ago

https://blog.bitcoin.org.hk/bitcoin-mining-and-energy-consum...

While some coal in landlocked and inaccessible locations is fired up in an environmentally unfriendly process to mine Bitcoins, most miners are powered by hydrogen dams, geysers and other geothermal energy sources that cannot be transported or stored.

s0rce• 9 years ago

I think you mean hydroelectric dams.

drcross• 9 years ago

This meme needs to die. Keeping the lights on tens of thousands of banks and keeping hundred of thousands of servers running transaction processing cost a lot of electricity too. Efforts are underway to get rid of dirty energy because the costs of renewable and battery storage are so much cheaper that this is a non-issue.

harryh3• 9 years ago

Efforts are underway to get rid of dirty energy because the costs of renewable and battery storage are so much cheaper that this is a non-issue.

Um what? Certainly we have made great progress as a civilization switching to cleaner forms of energy production but calling greenhouse pollution a "non issue" at this point is pretty nuts!

spookthesunset2• 9 years ago

Give me a fucking break. The "traditional financial world" processes tens if not hundreds of thousands of transactions per second worldwide. Bitcoin processes no more than 4 per second. On a per-transaction basis, you could be insane to argue that Bitcoin is anything other than an environmental disaster.

Worse, Bitcoin's energy consumption scales based on the price of bitcoin, not on transaction volume. The more USD each bitcoin is worth, the more miners will spend on energy to get that sweet, sweet block reward.

So it isn't a "meme" and Bitcoin's proponents would do well to concede that "yeah, bitcoin pisses away a lot of electricity--sorry about that...".

scottnyc• 9 years ago

This meme needs to die. You think if bitcoin became a transaction standard there wouldn't be thousands of institutions and companies servicing the use of bitcoin? You don't think Coinbase won't become just like JPMorgan and employ 100k people to provide customer service? Just look at all the startups and people currently employed to figure out blockchain today. So take your assumption of all of modern-day finances's electricity demands and add that to the infinite loop of energy that is required to keep your bitcoins in existence whether you transact or not.

asciimo• 9 years ago

And all the armored trucks, the parking meters, the security staff and equipment, the phone calls, the faxes, the mailed documents...

obiefernandez• 9 years ago

An individual whose BTC holdings (that they are willing to give away) are worth almost 100 million. Mind blown...

ttul2• 9 years ago

Back in early 2011 when I started looking at Bitcoin, they were worth 0.70 each. I talked to people who had 100,000 BTC that they’d mined in the early days on their CPU. For kicks. Some of them are still holding it.

tehlike• 9 years ago

crazy pills. I hope they at least cashed out some.

hindsightRegret• 9 years ago

Wait, you're trying to tell me you knew people who were paper (ledger?) billionaires and were willing to disclose that? Nuts

Obi_Juan_Kenobi• 9 years ago

Even in the CPU mining days, 100,000 was a lot. I think this is typical of many embellished Bitcoin stories. Several times I've had people tell me they 'should have bought at $#.##", so I ask them how they heard about Bitcoin. It's usually the "10,000 BTC Pizza" or a news story about Silk Road, or even the Nov 2013 bubble. At any rate, the actual price when they first heard about Bitcoin is often very different from what they remembered.

It's very likely there are fewer than a dozen people that have ever held >100,000 Bitcoins. That would take two weeks of mining every single block in the days of 50BTC coinbase rewards. Reasonable estimations of Satoshi's mining vs. others in the pre-GPU days makes 100,000 very tight for more than a few individuals. This would also require continuous mining for several months unless you were the only person mining (which isn't the case for anyone but Satoshi). Hardly 'for kicks'.

If you look in old forum threads, you'll see that many people mining in 2009 and 2010 mined several blocks over few days or weeks of mining. That would net a few hundred coins, and sometimes a few thousand. The majority of mining was done this way. The opportunity for many individuals to mine 100,000 simply was not there. If you actually talked to more than one individual who did this, you probably met 2 out of the 3 biggest Bitcoin miners ever.

londons_explore3• 9 years ago

It's hard to sell large amounts of bitcoin. Most banks, when they see an incoming wire transfer for $10M marked "bitcoin" will run a mile and close down your account.

Hopefully by 'donating' it to these charities, who will probably choose to sell slowly over time or hold it, that alleviates the problem.

cessna-v• 9 years ago

[citation needed]

mhluongo• 9 years ago

Can confirm first hand this is a serious issue in the industry. There are finally a couple crypto-friendly banks making it easier for holders and businesses. Source- have run a BTC co since 2014.

rando444• 9 years ago

HSBC literally told drug cartels how to alter forms in order to bypass security scans done to detect money laundering.

It's safe to assume that not all banks are as altruistic as one would hope.

eternalban• 9 years ago

https://www.theguardian.com/business/2016/jul/11/hsbc-us-mon...

https://financialservices.house.gov/uploadedfiles/07072016_o...

bdonlan• 9 years ago

A number of donor-advised funds accept BTC contributions (and take care of converting to USD). This also avoids realizing capital gains, and allows it to be immediately converted to USD before the value crashes while allowing the decision of which charity to donate funds to to be deferred.

dahdum2• 9 years ago

I didn't sell a ton, but I got a call from my bank about the first deposit from Coinbase. They asked how I came about the funds, where my initial investment came from (employment) and that was it.

Though my bank did invest in Coinbase so they are probably pretty ahead of the times.

Cthulhu_5• 9 years ago

Isn't that also mandatory for them to ask from the government / IRS point of view?

topmonk2• 9 years ago

I've sold and transferred more than $800K over the course of 3 days. I had no problem. This was from Gemini to a US Bank

csomar• 9 years ago

Very interested in the bank name.

loceng6• 9 years ago

I'm curious - is this making charitable donations in lieu of taxes on the gains?

natalyarostova• 9 years ago

I think you should do a little research on how cap gains taxes interact with charity, it's not how you think.

loceng6• 9 years ago

Do you know differently or it's different in your area - https://news.ycombinator.com/item?id=15919075 ?

dba7dba• 9 years ago

I am not curious. One could be buying up through bred horses or $$$ paintings to avoid tax. I much prefer this kind of financial maneuvering to avoid paying tax. Well done.

TomVDB• 9 years ago

How would you avoid tax by buying horses or paintings?

ringaroundthetx4• 9 years ago

you can donate appreciated assets to registered charities and this does allow you to avoid the capital tax AND also get a charitable tax deduction

voidmain• 9 years ago

This is limited to 30% of your income ("AGI"), however.

(I am not your tax advisor. Please don't take tax advice from random internet people.)

chrishacken2• 9 years ago

This looks sketchy as hell. No personal information attached at all and the domain has who-is protection. How do we know this is legit?

(Edit: nvm, misinterpreted the website)

ryanlol• 9 years ago

It does irrefutably link a very large amount of bitcoins with the site.

https://live.blockcypher.com/btc/tx/c44ad5f83ddc84d08967c765...

harryh3• 9 years ago

He also links to a couple of completed donations. The first is a transfer of of 64.77BTC (approx $1M) to address 1AttfyuVVVpsJ6FzBcJMqkFrPRzFiQoRb6 which is definitely Watsi's BTC address:

https://twitter.com/watsi/status/938241988121583616

I'm having a bit of trouble connecting this transfer back to address 3P3QsMVK89JBNqZQv5zMAKG8FK3kJM4rjt which currently holds the coins that he says will be donated. If true this should be possible though...

EDIT: Oh wait, here is the connection:

https://blockchain.info/tx/d290acbfa7c619ad4215537ae83bfe165...

I have to say, I'm generally pretty skeptical of stuff like this but there is evidence here that this is legit.

EDIT2: They also encoded "pineapplefund.org" in a NULL transaction. Even more reason to believe.

https://live.blockcypher.com/btc/tx/c44ad5f83ddc84d08967c765...

tylersmith• 9 years ago

AFAICT he's only giving money away, not asking any. What's sketchy about anonymous donations?

chrishacken2• 9 years ago

I was confused by the

"4,894 BTC ~$84 million USD remaining"

on the site. It initially appeared as if he/she was asking for donations. I guess that's actually the amount of money yet to be distributed.

atrain714• 9 years ago

This seems so fake. If its too good to be true...

CLGrimes• 9 years ago

The address checks out: https://blockchain.info/address/3P3QsMVK89JBNqZQv5zMAKG8FK3k...

harryh3• 9 years ago

And a NULL transaction to/from that address encoded the string "pineapplefund.org"

https://live.blockcypher.com/btc/tx/c44ad5f83ddc84d08967c765...

gabcoh• 9 years ago

They did send 60 bitcoins to watsi's adress, so it seems pretty legit

[1] https://watsi.org/faq#does-watsi-accept-bitcoin-donations

[2] https://blockchain.info/tx/d290acbfa7c619ad4215537ae83bfe165...

chaseadam172• 9 years ago

Watsi cofounder here. I can confirm this is true. We're very grateful for the support, it's going to help a lot of people.

gdoypoll• 9 years ago

Ok. Please tell the world how you scam people with fees and eat up charity donation being a middleman.

loceng6• 9 years ago

It's not liquid capital, it's not cash. It potentially has no value, yet giving it away will likely help with the donors' tax situation. Likewise, by giving more people Bitcoin et al, it creates more people with vested interest and who will likely speak positively about Bitcoin et al - which is all to help perpetuate the openly talked about, decentralized and global Ponzi schemes that are taking place.

ptenk• 9 years ago

Pretty misinformed and seemingly bitter, especially for a self proclaimed yogi.

It is liquid capital - and its value is $86mm since you could liquidate this at any moment without moving the order book.

lobo_tuerto• 9 years ago

I think a clearer—or at least a less click-baity—title would be something like:

Pineapple Fund: Donating $86 million USD in/through BTC to charity.

I think the current one makes it sound like they are donating 86M BTC. I know that's above the theoretical maximum, but that's not the point.

ringaroundthetx4• 9 years ago

It clearly has $ in the HN post, and the actual site.

And you even know thats above the maximum so your concerns should have been disregarded as erroneous stimuli as the rest of our brains are already programmed to do.

ghostbrainalpha• 9 years ago

He just wanted to show off that he knew the "theoretical maximum" amount of Bitcoins.

natch2• 9 years ago

To the person running this, if you really want to remain anonymous, be careful not to write too much. You can be outed by textual stylometrics.

oh_sigh2• 9 years ago

That's only assuming that they have a corpus of other writing out there on the internet which is linkable to their real life identity.

natch2• 9 years ago

That would help for sure, but it need not be assumed. There are other collections of text besides the public internet. Some of which are only accessible by certain entities and certain of their employees, to be sure, but still extant. Email, for example.

Note I’m not implying the person has done anything wrong... on the contrary. But someone with a large quantity of BTC has reasons to be wary of rogue actors.

joshumax• 9 years ago

That's always why I have a good laugh when someone comes out claiming to be Satoshi when they end their sentences with only a single space after a period. If you wanted to come out as Bitcoin's creator, you'd have used 2 spaces...

Frogolocalypse8• 9 years ago

I think that just shows the age of the person. I learned how to type correctly on a typewriter, and that is the way that we learned. It means, for me, that SN, like me, was educated in the 70's and 80's, and formally learned how to type.

Disclosure : Am not satoshi.

koolba• 9 years ago

I’be been waiting for someone to do a cross analysis of HN comments to identify potential sock puppets.

QAPereo• 9 years ago

I imagine the results would be just brutal, and no surprise to anyone.

omarforgotpwd• 9 years ago

If someone determines my identity through textual stylometics, finds me, manages to get me to reveal how to get my bitcoin, and then kills me I won’t even be mad. Just impressed.

senatorobama• 9 years ago

Does anyone know people who are absurdly wealthy in BTC but only average (i.e software eng)?

What's their game plan ?

funnelsgun2• 9 years ago

A couple of the folks I know are just HODLing until BTC hits $150,000. Most of them bought Bitcoin when it was a couple of $, haven’t bought Bitcoin since and are just waiting it out to see what happens.

bringtheaction• 9 years ago

Why $150,000 exactly? Because of what the market cap will be then?

bevan• 9 years ago

Dear Rich Pineapple:

Congrats on your huge BTC surplus!

To make the biggest difference, consider looking into Effective Altruism[1] (an idea, not a charity) if you haven't already. Their motto is “using reason and evidence to do the most good”.

Perhaps do away with the charity proposal form, and instead choose one or several of the most effective charities as ranked by GiveWell.org[2] (who do rigorous effectiveness analysis). OpenPhilanthropy[3] is a charity that takes the EA perspective.

Unfortunately, seemingly worthy charities are often orders of magnitude less effective than the few most effective causes. Charity evaluators like GiveWell help us find the gems that can leverage our money many times more effectively.

For more info about Effective Altruism, listen to Tim Ferriss[4] and Sam Harris[5] interview the co-founder of Effective Altruism, check out this NYT piece[6], or read Doing Good Better[7].

[1] https://www.effectivealtruism.org/

[2] https://www.givewell.org/

[3] https://www.openphilanthropy.org/

[4] http://tim.blog/2015/11/22/will-macaskill/

[5] https://www.samharris.org/podcast/item/being-good-and-doing-...

[6] https://www.nytimes.com/2015/08/16/upshot/effective-altruism...

[7] https://www.amazon.com/Doing-Good-Better-Effective-Altruism/...

pfd1986• 9 years ago

Agreed. With the enourmous cuts in science funds nowadays one can make a big difference by, for instance, fueling cash into research in virtually any area. The achievements can still be watched within a lifetime.

justonepost2• 9 years ago

I think he needs charities that are willing to take BTC.

celticninja2• 9 years ago

Bitpay will act as a middleman for charities.

chaseadam172• 9 years ago

Watsi cofounder here. We're extremely grateful for this support. It's going to enable us to help a lot of patients access healthcare. I also think it's great for the crypto community as a whole. Thank you, Pineapple!

giarc3• 9 years ago

Do you immediately convert to USD (or whatever currency) and spend, or do you hold as an investment?

runeks• 9 years ago

Holding for a charitable organization would not be an investment, but speculation, and would be irresponsible, in my humble opinion (because you’re gambling with donations). The people who choose to donate should get full value from their donation. So, until one can buy goods with bitcoin and pay omes employees with it, holding it when you have an obligation to buy something with it amounts to speculation.

nitinsingla0999• 9 years ago

I simply love Watsi, you guys are so transparent with your financials. I hope you guys start accepting cryptocurrencies soon.

cheeze• 9 years ago

Thank you for what you do. Donating to Watsi and getting the updates about people that I've helped is one of the highlights of my day to day life.

Shameless plug for Watsi incoming... Consider donating monthly. They don't spam you and your money is going to a great cause. https://watsi.org/monthly

ericfrederich• 9 years ago

Can someone explain this to me? Where did this BTC come from? There was a single deposit on 12/8 of like 5k BTC. Since then there have been withdrawls from that address.

https://bitinfocharts.com/bitcoin/address/3P3QsMVK89JBNqZQv5...

JauntyHatAngle• 9 years ago

I'm not sure I understand your question, but there are multiple addresses for the 5K btc transaction to that address.

staunch• 9 years ago

At least one important thing will happen as a result of this person's effort. Probably many great things no one expected.

The world needs a lot more people like this. The example being set here should be emulated by many others.

elephant_burger• 9 years ago

Wow is this for real?

bobsgame• 9 years ago

I believe the Gates Foundation has already put an enormous amount of thinking and research into determining the most effective use of a large amount of funds to improve the overall state of the world. My opinion is that you would probably rationally be better off investing that money or building a corporation to try and turn it into billions and then donate that to Gates.

nathan_f77• 9 years ago

The donation to Watsi will provide life-changing surgeries in the near future, and will potentially save hundreds or thousands of lives. You might be able to do more good in the future with a larger sum of money, but if you made this choice, you are condemning the smaller group of people to suffering and death. If you met with the smaller group of people and learned all of their names and faces, you probably wouldn't want to let them die. If you could somehow travel to the future and meet with the larger group of people, you might decide to sacrifice the smaller group in order to save millions of lives instead of hundreds. You could also try to find a balance between the two extremes. I guess this is a variation of the Trolley problem [1].

However, there's a few additional variables that are very important.

1. The price of Bitcoin may fall dramatically, or your business and investments might fail. Now you can't help anyone.

2. By saving the smaller group of people, you will alter the course of history. Some of the people in the larger group might never experience the disease or accident that required medical intervention. Some of them will never even be born.

I think it's better to choose the predictable outcome that is guaranteed to ease suffering, instead of gambling with people's lives.

P.S. I just finished watching the first episode of 11.22.63 [2] a few minutes ago. (It was incredibly good!)

[1] https://en.wikipedia.org/wiki/Trolley_problem

[2] http://www.imdb.com/title/tt2879552/

sauravt• 9 years ago

I think this is one of the greatest example of effective altruism, the world has seen to date. As a student of this subject, I would like to suggest a minor improvement in this project, an image of pineapple for the favicon.

http://www.favicon.cc/?action=search&keywords=pineapple

kaicianflone• 9 years ago

Haha I was just about to suggest that!

chadkruse• 9 years ago

Who is going to be the first to submit the Pull Request? :)

https://github.com/PineappleFund/pineapplefund.github.io

mrweasel• 9 years ago

Apparently the Pineapple Fund has also donated $50.000 to the OpenBSD Foundation: https://www.reddit.com/r/Bitcoin/comments/7jj0oa/im_donating...

frut• 9 years ago

I don't follow bitcoin much, but shouldn't every popular community project be essentially swimming with cash (or at least bitcoin) these days? On the other hand I guess the same could be said about the tech boom.

Cthulhu_5• 9 years ago

I thought the Pineapple Fund donated bitcoin, not dollars?

Same criticism to the headline of this thing - it's an X amount of bitcoin, not a dollar amount which will be outdated within the hour.

grimmfang• 9 years ago

The Free Software Foundation needs some donations right now. I hope they get a little help.

1ba9115454• 9 years ago

The brilliance of this is not just that he's donating to charity which is great of course but that he managed to hold for so long.

throwaway31231• 9 years ago

This is so inspiring. Thank you.

bootsz2• 9 years ago

Congrats on your fortune. This is a very honorable thing to do.

But my real question is: How on earth did you manage to resist selling your holdings for such a long time after you crossed the $1MM mark? That's some superhuman level of self control.

scotty792• 9 years ago

It's pretty much in the (sub)title of the page: "Because once you have enough money, money doesn't matter."

bootsz2• 9 years ago

Yes but you can only really "have enough" once you've cashed out into a medium that has a negligible risk of being worth nothing. It still takes major cojones to leave that much in BTC for so long, thus my kudos

sigenc• 9 years ago

You need to Support CopperheadOS. It's something really important for freedom and safety

agotterer• 9 years ago

What are the tax implications for something like this? I assume some or all of the donation itself could be a write off, but isn’t he subject to income tax on the initial gains?

Jasmine83• 9 years ago

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Pineapple Fund: Donating $86M of Bitcoins to Charity

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