Ima donate .00000001
Ima donate .00000001
•
One of the problems in keeping a platform operating is a revenue model. Banks will deny people banking services they feel threatened by and people like me want to remain anonymous while still supporting sites like Poal.co
There are many variables to consider when paying in Bitcoin. I considered what I thought at the time I wrote this to be a reasonable strategy. The reason Bitcoin isn't popular for payments is because it is a pain in the ass still. Mostly because the jewish banking system sees it as a threat.
The biggest problem for me is you can not simply buy Bitcoin using your credit card, ACH transfer or even PayPal (more about PayPal later). Exchange platforms require confirmation of your identity. Then the execution times can stretch out to days.
Fees tend to be high when converting from fiat currencies to Bitcoin. It can be a minimum of $5 to over 4% in commissions.
You can not know your exchange rate in advance because Bitcoin is very volatile. The exchange may give you the exchange rate when you attempt to make a purchase and then give you a much worse rate later. I've never heard of an instance where you get a better exchange rate, only worse.
Steps 1, 2 and 4 are simple. Step 3 is a real pain in the ass.
1) You need a Bitcoin wallet.
Linux, iOS, Android, Mac, Windows.
Linux, Mac, Windows.
Linux, iOS, Android, Mac, Windows
Linux, iOS, Android, Mac, Windows.
iOS, Android
Linux, Mac, Windows.
2) Convert your donation in local currency to amount of Bitcoin. . At the time I wrote this, the rate was approximately $26,000 USD to 1 BTC. If you were to donate $10 USD, the Bitcoin donation would be about 0.000384 BTC
3) . This is actually much more hassle than you may think due to exchanges requiring identification. I used Bitcoin.org payment processor MoonPay, but you can choose a different one.
4) Copy the Bitcoin address from Poal's donate page to your wallet and enter the amount of bitcoin you want to donate.
Resources
PayPal claims to let you buy Bitcoin. This is false. They pretend to allow you to buy it, but you can not move it off their platform. You do not get the actual Bitcoin hash for your Bitcoins. This means you don't actually own the bitcoins and PayPal isn't going to allow you to pay anyone with it. I'm not clear why PayPal tells people they can buy Bitcoin when clearly you cannot.
With all the restrictions in place on buying Bitcoin, it seems you can be traced if the government wants. The fact you need to be identified by the exchange means they know you own bitcoin. Then all they need to do is trace transactions with your Bitcoin hash.
One of the problems in keeping a platform operating is a revenue model. Banks will deny people banking services they feel threatened by and people like me want to remain anonymous while still supporting sites like Poal.co
There are many variables to consider when paying in Bitcoin. I considered what I thought at the time I wrote this to be a reasonable strategy. The reason Bitcoin isn't popular for payments is because it is a pain in the ass still. Mostly because the jewish banking system sees it as a threat.
The biggest problem for me is you can not simply buy Bitcoin using your credit card, ACH transfer or even PayPal (more about PayPal later). Exchange platforms require confirmation of your identity. Then the execution times can stretch out to days.
Fees tend to be high when converting from fiat currencies to Bitcoin. It can be a minimum of $5 to over 4% in commissions.
You can not know your exchange rate in advance because Bitcoin is very volatile. The exchange may give you the exchange rate when you attempt to make a purchase and then give you a much worse rate later. I've never heard of an instance where you get a better exchange rate, only worse.
Steps 1, 2 and 4 are simple. Step 3 is a real pain in the ass.
1) You need a Bitcoin wallet.
* [Electrum](https://bitcoin.org/en/wallets/desktop/windows/electrum) Linux, iOS, Android, Mac, Windows.
* [Bitcoin Core](https://bitcoin.org/en/wallets/desktop/windows/bitcoincore/) Linux, Mac, Windows.
* [Bither](https://bitcoin.org/en/wallets/desktop/windows/bither/) Linux, iOS, Android, Mac, Windows
* [BitPay Wallet](https://bitcoin.org/en/wallets/mobile/ios/bitpay) Linux, iOS, Android, Mac, Windows.
* [BRD](https://bitcoin.org/en/wallets/mobile/ios/brd/) iOS, Android
* [Wasabi wallet](https://bitcoin.org/en/wallets/desktop/windows/wasabi/) Linux, Mac, Windows.
2) Convert your donation in local currency to amount of Bitcoin. [Exchange rate](https://bitpay.com/exchange-rates/). At the time I wrote this, the rate was approximately $26,000 USD to 1 BTC. If you were to donate $10 USD, the Bitcoin donation would be about 0.000384 BTC
3) [Buy Bitcoin](https://bitcoin.org/en/buy). This is actually much more hassle than you may think due to exchanges requiring identification. I used Bitcoin.org payment processor MoonPay, but you can choose a different one.
4) Copy the Bitcoin address from Poal's donate page to your wallet and enter the amount of bitcoin you want to donate.
Resources
[Compare Bitcoin exchanges](https://fiat2cryp.to)
PayPal claims to let you buy Bitcoin. This is false. They pretend to allow you to buy it, but you can not move it off their platform. You do not get the actual Bitcoin hash for your Bitcoins. This means you don't actually own the bitcoins and PayPal isn't going to allow you to pay anyone with it. I'm not clear why PayPal tells people they can buy Bitcoin when clearly you cannot.
With all the restrictions in place on buying Bitcoin, it seems you can be traced if the government wants. The fact you need to be identified by the exchange means they know you own bitcoin. Then all they need to do is trace transactions with your Bitcoin hash.
(post is archived)