Requests for comment on a proposal urging the Wikimedia Foundation to stop accepting donations in cryptocurrency have been closed, with the majority of users voting in favor.
According to a Tuesday update on the proposal, About 71%, or 232 of 326, of the Wikimedia contributors who responded requested that the Wikimedia Foundation – the non-profit organization that hosts Wikipedia – stop accepting donations in cryptocurrency. Arguments in favor of the proposal included the environmental concerns surrounding Bitcoin (BTC) transactions and “the reputational risk of accepting cryptocurrencies to the movement.”
The community first opened the proposal for comments on January 10, expanding the discussion to include topics such as El Salvador’s adoption of BTC as legal tender, cryptocurrencies as a tool for illicit financial activities, and the role of digital assets in financial inclusion. However, most of the topics seemed to focus on energy use and the potential environmental impact of cryptocurrencies.
“Cryptocurrencies may not align with the Wikimedia Foundation’s commitment to environmental sustainability,” the original proposal read. “Bitcoin and Ethereum are the two most widely used cryptocurrencies, and both are proof-of-work, using an enormous amount of energy […] current models are still extremely harmful to the environment. Although there are more environmentally friendly cryptocurrencies, their use is less widespread.”
Among the arguments opposing the proposal are proof-of-stake cryptocurrencies that are “much less energy intensive” and the use of tokens to provide “safer ways to donate and engage in finance for people in the world.” oppressive countries. One user cited the fact that the Ukrainian government accepted cryptocurrency donations as an argument against the technology’s bad reputation.
“Cryptocurrencies should remain an option for Wikimedia to accept donations,” user C933103 said on March 14. “Wikimedia accepts donations in cryptocurrencies, it does not give cryptocurrencies. If the law of a country prohibits donations to [la Fundación Wikimedia, o WMF] through the banks, then it is the country that is wrong, not the WMF. Accepting donations instead of giving them also means that it will not be used to facilitate any new economic activity that may be subject to sanction or finance other illegal activities, as all currency received will immediately be converted into fiat currency in the WMF account.”
what’s that rumbling noise in the distance, slowly growing louder, you ask?
it is the stampede of crypto zealots who have never once donated to the wikimedia foundation, shouting “guess i’ll take my money elsewhere!”
— Molly White (@molly0xFFF) April 13, 2022
What is that noise that is heard in the distance and that is growing little by little?
is the stampede of cryptocurrency fanatics who have never donated to the wikimedia foundation, yelling “I guess I’ll take my money somewhere else!”
However, Wikimedia contributor TrueAnonyman supported the proposal, adding:
“The financial effect of ceasing to accept cryptocurrency donations would be minimal, and far outweighed by the damage to the reputation of the Wikimedia project from being seen as endorsing a technology so strongly tied to various environmental and social harms.”
The foundation reported in January that it had received around $130,000 in cryptocurrency donations in the last financial year, roughly 0.08% of its revenue. Bitcoin was the most used cryptocurrency among the 347 individuals who donated, but the nonprofit also accepts Ether (ETH) and Bitcoin Cash (BCH).
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