advertisement
advertisement

Funding A Non-Profit With… Bitcoins?

Funding A Non-Profit With… Bitcoins?

The Lifeboat Foundation, a think tank which claims to be devoted to helping humanity survive existential risks as it “moves towards the Singularity,” has become one of the first nonprofits to launch a Bitcoin endowment. Since launching the Bitcoin endowment in late March, the fund has received either donations or pledges equaling $72,000 in Bitcoins. Spam Arrest CEO Brian Cartmell also pledged to match the next 500 Bitcoins donated to Lifeboat. As of April 2013, one Bitcoin is worth approximately $105.

Bitcoins are virtual currency that operate with no central governing authorities, complete anonymity, and public key cryptographic protection. While they are currently trendy among libertarian activists, gamers, economists, foreign currency traders, and privacy activists, the lack of central oversight has raised concerns over a possible Bitcoin bust.

Lifeboat officials stated in a press release that “The March 2013 EU–IMF grab of 40% of large bank accounts in Cyprus that held government-backed money was the key event that caused the Lifeboat Foundation to feel that the time for [Bitcoin] was here.”

[Image: Marcel Grieder]NU