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0 sats \ 4 replies \ @siggy47 10 Nov 2022 \ on: Anita Posch AMA bitcoin
Regarding Bitcoin For Fairness donations, what would you say is the percentage paid through Lightning Network as opposed to main net or other forms of payment?
It's a 100% BTC. The BFF main sponsorships were all done on-chain at the beginning of the year. You can imagine that I basically ran out of funds in the middle of the year. Big learning here: take a part and hold it in fiat. It's sad, but it's still more stable than BTC. Also: I have to pay income tax on the Bitcoin value from February now although the value was lost just by price going down. I learned a lot this year ;-)
The donations through Geyser are estimated 90% Lightning.
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I'm sorry to hear that. Perhaps your tax burden could be alleviated since it's a charity. As a retired US lawyer, I'm familiar with the non profit laws in the US. Surely there must be some similar structure in your jurisdiction. Perhaps a local lawyer could help you out?
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Thanks for your concerns. It's not a registered charity. I didn't want to go that route in the first year, because I had no idea if I'd get any funds at all. Since my goal is to spend everything before the end of the year, the tax burden should be not too high.
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In any event, best of luck. I will follow your progress and I'll keep donating. I feel like Africa can benefit most from bitcoin, and that bitcoin can benefit most through Africa
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