User talk:Drunk Aya/Donations
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Oop its live
BITCOIN CASH OUT POLICIES
With the recent rise of Bitcoin's value in the world, the U.S.'s approval for use as a currency, and geopolitical acceptance of Bitcoin at large, it is time for me to ask for the staff and wiki community to know what to do with the virtual currency. Currently the financial policy is half-hold, half sell, due to a 4 month lead time we now have with the wiki.
The following is the current revenues for 2013 as of posting:
* $309 USD from WePay and PayPal Sources * 2.545 BTC from Bitcoin Donations * 0 LTC from Litecoin Donations (5 LTC held initially)
If the 2.545 BTC were held the entire time, that would have theoretically given us approximately $2000 as of current posting (valuation at $800/BTC.) However, at the time we sold some Bitcoin, the valuation was approximately $90-$110, and the most recent sell was $350. I am currently working with a conservative policy of half-hold/half-sell, enough to keep us afloat, but the recent rise has given us 4 months of lead time.
I would like to ask the community the following question:
What should we do with Bitcoin donations? The following are noted:
* Sell as soon as received (real conservative) * Half sell/half save as received (conservative) * Hold ALL Bitcoin donations (aggressive) * CONVERT some USD to attempt to invest (I'll put this out there but I don't want to do that)
Please reply below on this talk page here.
Have you thought about selling most (up to 80%) of the donations and save the remainder? That's a good midway point between being conservative and being a lot more conservative. DeltaSierra4 (talk) 16:20, 21 November 2013 (UTC)
- I'm leaning towards real conservative, just because it puts all the decision-making in the donor's hands. At least the donor will donate knowing that it will be worth that much at the time of the donation.
- IMO, holding any Bitcoin is engaging in currency speculation, since really that's the only reason you'd be holding onto it, seeing as the servers are paid in USD. I don't have a problem if you want to engage in it, so long as you're comfortable with it and know the risks. - Kiefmaster99 (talk) 22:29, 21 November 2013 (UTC)
- I second this opinion. Don't risk the as-donated value of the currency. That said, I'd also like to avoid any potential legal issues in the future from dealing with alternative currencies. Mamizou (talk) 04:54, 22 November 2013 (UTC)