On Thu, Jun 27, 2019 at 2:17 PM Hobson Lane <hobsonl...@gmail.com> wrote:
> I wholeheartedly support accepting Bitcoin and Etherium and other popular > cryptos at PSF. Bitpay is an alternative, but they can be more complicated > to work with than Coinbase. Of course you can always chose to manage your > own crypto wallet independent of any go-between business, but that has > risks too. > Here's a possible spec / criteria for considering a solution for cryptocurrency donations : - a webapp (over TLS) to collect personal information (that should not be stored in a public blockchain for GDPR-compliance) and generate receipts witha template suitable for tax deduction (in the US, and [...]) - FDIC deposit insurance protection for any funds held in USD in the exchange* - regulatory approval to operate within the given territories - no-fee payment processing for nonprofits \* For donations immediately cashed out to a bank account over direct deposit (ACH (SFTP+PGP)) at the non-stable present value, you only need to hold funds in USD while deposits to the configured bank account are pending > Coinbase would be my last choice, however. It has been involved in some > shady business practices that would be illegal if they were regulated as > strictly as a bank or brokerage is. > - From the very beginning Coinbase has been accused of insider trading, > front-trading, market manipulation, and outright fraud in class action > lawsuits such as this one: > https://www.silvermillerlaw.com/current-investigations/coinbase-class-action/ > - In times of dips or spikes in price they sometimes prevent some > depositors from accessing their funds for extended periods of time (I've > been unable to access my account for years now, and others I know have had > similar difficulties). > - They profit on bid/ask spreads, like most brokerages or financial > markets, but they aren't regulated as strictly as traditional > brokerages+banks so that spread can be quite broad and the invisible loss > of value for frequent depositors/payors can be significant. > > --Hobson > > > > On Thu, Jun 27, 2019 at 10:40 AM Wes Turner <wes.tur...@gmail.com> wrote: > >> >> >> On Thursday, June 27, 2019, Ewa Jodlowska <e...@python.org> wrote: >> >>> >>> >>> On Thu, Jun 27, 2019 at 11:16 AM Wes Turner <wes.tur...@gmail.com> >>> wrote: >>> >>>> >>>> From GuideStar (which, like Charity Navigator, also has nonprofit >>>> evaluation criteria) >>>> >>>> https://trust.guidestar.org/bitcoin-what-nonprofits-need-to-know-and-how-it-might-give-your-fundraising-a-competitive-advantage >>>> : >>>> >>>> > Accepting donations in Bitcoin can reduce the financial transaction >>>> fees a nonprofit owes. With Bitcoin, the costs are significantly lower >>>> compared to checks, credit cards, and other digital options, and if your >>>> organization is a registered 501(c)(3), there are zero transaction fees on >>>> platforms such as Coinbase or Bitpay. There is also no risk of bank >>>> charges accruing to the nonprofit in the case of a donor using a fraudulent >>>> credit card. >>>> >>>> * Merch: It may be worth accepting cryptocurrency payments for PSF >>>> merch like T-Shirts, Mugs, Polo shirts: >>>> https://www.python.org/community/merchandise/ >>>> >>>> * Coinbase Commerce integrates with a number of major eCommerce >>>> platforms: >>>> https://commerce.coinbase.com/integrate >>>> >>>> >>>> I'll share Coinbase with our team for review. >>> >>> >>>> * What mailing list and/or CRM can I opt-into with my PSF donation? Is >>>> there a periodic breakdown of expenses that I can backseat-drive and >>>> micromanage? >>>> >>> >>> We go over our finances at the PSF member meetings at PyCon and the >>> EuroPython. In addition to what we have on python.org ( >>> https://www.python.org/psf/annual-report/2019/, >>> https://www.python.org/psf/records/board/treasurer/), financials are >>> also sent to voting members (psf-v...@python.org). >>> >> The 2018 financials will be sent there this month. >>> >> >> Thanks! >> >> >>> If anyone wants to become a voting member of the PSF, let me know >>> off-list and I'll be happy to share the available options! >>> >> >> >>> >>>> From Charity Navigator, it looks like PSF had about $ 2,500,000 in >>>> donation revenue a few years ago. >>>> >>> >>> As of end of 2018, the PSF had almost 3.3M in assets. In 2018, we >>> received $515,000 from "Contributions, Membership Dues, and Grants" ( >>> https://www.python.org/psf/annual-report/2019/). In 2016, our >>> "Contributions, Membership Dues, and Grants" totaled approximately $148,024 >>> to give you a comparison of how things are developing over time. >>> >> >> $515,000 in 2018, thanks. An infographic on the donation page might >> increase conversions. >> >> >>> >>> The Annual Impact report also addresses the need for a financial >>> reserve: >>> >>> "The PSF will continue to research diversifying revenue streams, hiring >>> additional staff, and improving our fundraising efforts, which will all >>> affect future financials. We would like to continue to improve the services >>> we provide to the community, expand our programs, and better support >>> developers. We also need to consider risk mitigating factors such as having >>> diverse revenue streams instead of heavily relying on PyCon and a financial >>> reserve of at least 1.5 years (in operating costs). This will help ensure >>> the PSF’s viability for the long run." >>> >> >> +1 >> _______________________________________________ >> Python-Dev mailing list -- python-dev@python.org >> To unsubscribe send an email to python-dev-le...@python.org >> https://mail.python.org/mailman3/lists/python-dev.python.org/ >> Message archived at >> https://mail.python.org/archives/list/python-dev@python.org/message/7PHTBINPBQ7R5UT7HLTFOXDYWM2IIMSE/ >> >
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