I have $12M in Bitcoin I want to give away | Hacker News Reader

I have $12M in Bitcoin I want to give away

reddit.com

63 pointsjpatokal26 comments

This is no more intellectually interesting than the 1970s game shows where they filled a glass cage with money and let someone with a paper bag in for 30 seconds.

Please read https://news.ycombinator.com/newsguidelines.html.

Kudos to you.

My recommendation - https://supporters.eff.org/donate - they seem to be the only organization fighting to keep the internet open and accessible allowing technologies and services like bitcoin to exist and grow.

yes, and they make it easy to accept bitcoin, no need to transfer to cash first. (this may have been implied but unsure if others knew that)

... Fake? There is literally no proof that he is in possession of the money, let alone that he is giving it away.

I'm really, really amused by all of the people posting their wallet address in the Hacker News comments. How do you not understand that the submission links to a Reddit thread, and that that's where you're supposed to be posting your address?

The rules of the subreddit states that you shouldn't really be posting your wallet addresses on their threads.

Having said that, I think the OP's message inbox would have exploded by now.

At what dollar value would this type of post not be allowed on hn?

I've only observed Bitcoin from a distance as I've never needed to send or receive money online and not really been able to invest in things. I didn't learn about Bitcoin until only ASIC mining was viable, but I've never had a GPU (yes, that cash-strapped) so it wouldn't have mattered anyway.

So, I'm curious. What's a decent, low-drama/no-fuss broker I should be few issues with? Reason is obvious. :P

I'm completely ignorant of Bitcoin features I might like; I'll primarily want to export to USD (in the US), and maybe AUD (in .au).

Shouldn't that person start by provisioning for their taxes? The tax liability of such a position is probably around 6 to 8 millions depending on the country the person lives in.

I thought you had to pay on cash out, not distribution.

From what I know, in the US, you're responsible for tax when using cryptocurrency as an actual currency for transactions. But I don't think you have to do anything if you're just giving it away.

I have to say, it's quite fun to refresh every couple of minutes and downvote anyone who just gives their Bitcoin address without any reason...

And why not?

There is a certain element of... shenaniganery going on here, perhaps.

Giving away "money"? Users claiming "good and charitable works"? Neither side with real "evidence" or "proof"...

So everyone must simply be taken at their word.

Why give it away? Could be spent on some pretty amazing projects that would otherwise not happen, with enough imagination.

I understand your reasoning, but (assuming this is true, and the person indeed owns such amount) it is the person's bitcoins to do with them as pleases, no?

Sure, but that doesn't mean we can't criticize the choices made.

Major corporations, pop culture and human nature all vying to get an individual to spend recklessly and in gratuitous ways, but let's not allow any force of good to use similar tactics.

We can't suggest to someone how to spend their money despite every facet of society doing exactly that.

Like what do you mean?

Hey Dan, it would be great if we could auto-kill all the comments here containing a wallet address.

It seems like overkill to write software for that but I've killed these ones manually. Feel free to flag them as well.

To flag a comment, click on its timestamp to go to its page, then click 'flag' at the top. (There's a small karma threshold, currently 30, before flag links appear.)

If this is even real... I admire the generosity, but giving money away on Reddit is a terrible idea. It's really hard to give money away effectively, which is why folks like Bill Gates have now made it their full-time job.

PSA PSA PSA

THIS IS A CROSSPOST FROM TO A REDDIT THREAD, REPLY THERE

With that out of the way: I strongly suspect that the reason this is happening is that the person in question thinks Bitcoin is about to tank.

So they're getting out of the market.

>So they're getting out of the market.

By giving it away? What.

Hmm... okay, maybe my "strongly suspect" should have been worded a little less certainly.

I'm honestly not sure.

I co-founded a 501c3 non-profit foundation that works with chronically malnourished children, single and pregnant women, and the elderly in nutrition, education, and women's empowerment projects in rural Guatemala. It's called the Konojel Community Center http://www.konojel.org, a project of the All Together Foundation.

We've received a bit of support through Bitcoin and would love to receive more funding for our projects, including covering the costs of a free community internet center that gives students access to the internet and printing services for no cost.

1Pw67exa4SuPA5Wkc9jFbn11UKhSGuzDox

I can show you how to invest in people and ideas if you are interested.

Reply on news.ycombinator.com