Wikimedia Foundation Hits the Brakes on Crypto Donations
In a dramatic turn of events, the Wikimedia Foundation, the powerhouse behind Wikipedia, has decided to close its BitPay account and cease accepting cryptocurrency donations. This decision, based on community feedback, comes after a significant vote in favor of a proposal that highlighted various concerns surrounding the use of cryptocurrencies.
Community Voices Matter
A staggering 71% of the Wikimedia community members cast their votes to halt crypto donations, citing issues such as environmental concerns, the ease of use for sanctioned individuals, and the potential for scams. With a three-month discussion leading to this pivotal moment, it’s clear that the voice of the community isn’t just a whisper in the wind—it’s a full-on choir!
The Numbers Behind the Decision
While it sounds like a big deal, the actual financial impact of this decision may not be as severe as one might think. In fact, the foundation accrued a mere $130,000 in cryptocurrency donations in 2021, which accounted for a mere 0.08% of its total revenue. So, financially speaking, the Wikimedia Foundation can likely weather this change without too much worry.
Reactions from the Community
The reactions following the announcement were as varied as the internet itself. On one end of the spectrum, a member going by the name “GorillaWarfare” expressed gratitude, stating,
“This is great news. Thank you for listening to the community.”
Conversely, another member, who prefers to remain anonymous with their numerical ID, lamented the decision, suggesting that it was a reaction to current events rather than a well-thought-out policy. After all, isn’t crypto-fueled fundraising a bit more appealing when fighting for a cause?
Other Tech Giants Follow Suit
Interestingly, the Wikimedia Foundation isn’t alone in this decision. Mozilla, the company behind the popular Firefox browser, also nixed crypto donations a few months prior. They did, however, take a softer approach, allowing some donations through proof-of-stake networks like Polygon. Their situation provides a cautionary tale for the Wikimedia Foundation as they tread this new path.
The Future of Donations: What Lies Ahead?
Supporters of the ban mostly seem unfazed by a potential backlash from the crypto community. Citing the foundation’s robust reputation as the world’s largest repository of free knowledge, one member aptly put it,
“What’s Joe Crypto going to do to ‘destroy us’? Write a nasty op-ed?”
As they close the chapter on crypto donations, Wikimedia Foundation takes a step back. Are they looking towards a greener, more reliable future of funding? Only time will tell. But for now, it seems clear: community input can really pack a punch!
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