On Monday, 23 November 2015 at 12:11:36 UTC, Steven Schveighoffer
One could ask the same thing about any currency that isn't the
one accepted at a store.
I looked with a tinge of fascination at what bitcoin was a
while ago. I think there is a natural averse reaction to
something that is valuable but that you cannot understand.
Don't be confused. Krugman do not understand bitcoin, but Krugman
think that terrorism and riots are good, that the internet will
never work and that there was no bubble in 2008, so I think is it
fairly secure to ignore him.
Many other economist have model that explain bitcoin's value.
I know bitcoin has real math and genius behind it, and this is
a silly example, but for those who do not understand how it
actually works (including myself), it seems very similar in
nature. Dollars (or whatever local currency you use) are
understandable, and generally accepted at places where I shop.
It's easy to see how one cannot duplicate them without evidence
of doing so (the fundamental characteristic of currency).
Online bits don't seem so uncopyable.
Most people to not understand fractional reserve, bond emission,
or how credit card works. I think that's ok.
Back to the point, one of the value of bitcoin is to be able to
transfer money internationally easily and for cheap. People that
do have USD to spend on digital mars do not care. People abroad
Now I don't expect that accepting bitcoin will create a giant
wave of donation, but, if anything, it is always good PR and not
complicated. There is also no reason to refuse a donation or to
make it more complex to do a donation.
Andrei, Walter, if you need help to navigate the bitcoin
ecosystem, you can reach me, I can help.