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I can't think of a situation where a donating cryptocurrency would be better than a donation of fiat cash to the same groups. Honestly, I can only see negatives

I can't think of a situation where a donating cryptocurrency would be better than a donation of fiat cash to the same groups. Honestly, I can only see negatives from going down that route (lack of accountability for fund usage is a major one) and very few, if any, positives. If the concern is volatility of the local fiat currency, make the donation in another more stable currency. Cryptocurrency will only add to that instability. >There is a growing body of evidence suggesting that the best way to help poor people is to give them cash, rather than traditional support like food, medicine or training. I've not seen this (but have seen the inverse often); do you have any references or examples?

joewaltman 8y ago
This is probably the best report on the cash vs. in-kind question - https://www.odi.org/publications/10505-cash-transfers-what-does-evidence-say-rigorous-review-impacts-and-role-design-and-implementation https://www.odi.org/publications/10505-cash-transfers-what-d...
NeedMoreTea 8y ago
Not OP, but I've seen suggestions that it should replace aid[0] if mild conditions are attached to the cash grant. There is, of course, the recent re-analysis of Mincome, Manitoba's well known Basic Income trial[1] that found numerous unintended, positive consequences like fewer hospital visits. [0] https://www.economist.com/international/2013/12/12/pennies-from-heaven https://www.economist.com/international/2013/12/12/pennies-f... [1] https://en.wikipedia.org/wiki/Mincome https://en.wikipedia.org/wiki/Mincome
drivingmenuts 8y ago
> lack of accountability for fund usage is a major one So you give them money and then tell them how they can use it? I thought the whole point of giving them cash was to allow the recipient to determine how best to use it, given their circumstances at the time.
- publicfig 8y ago
  Likely with most organizations built around donating funds to pre-existing efforts, the lack of accountability would come from the NGO/Government Organization itself, who (for better or worse in terms of enforcement) often have regulations in regards of spending donated funds in terms of documentation and accounting.
cameldrv 8y ago
The reason people want to give crypto is because they haven't reported it to the IRS. There are a lot of people with big gains in crypto that they should have reported years ago, and they're not sure what to do with it now. If they can directly give it without a reporting requirement, they're happy. Perhaps there's a secondary (primary?) business in people receiving anonymous donations from a generous benefactor, which they then are able to report as income and get square with the government without admitting to underreporting income.

joewaltman 8y ago

This is probably the best report on the cash vs. in-kind question - https://www.odi.org/publications/10505-cash-transfers-what-does-evidence-say-rigorous-review-impacts-and-role-design-and-implementation https://www.odi.org/publications/10505-cash-transfers-what-d...

NeedMoreTea 8y ago

Not OP, but I've seen suggestions that it should replace aid[0] if mild conditions are attached to the cash grant. There is, of course, the recent re-analysis of Mincome, Manitoba's well known Basic Income trial[1] that found numerous unintended, positive consequences like fewer hospital visits. [0] https://www.economist.com/international/2013/12/12/pennies-from-heaven https://www.economist.com/international/2013/12/12/pennies-f... [1] https://en.wikipedia.org/wiki/Mincome https://en.wikipedia.org/wiki/Mincome

drivingmenuts 8y ago

> lack of accountability for fund usage is a major one So you give them money and then tell them how they can use it? I thought the whole point of giving them cash was to allow the recipient to determine how best to use it, given their circumstances at the time.

publicfig 8y ago
Likely with most organizations built around donating funds to pre-existing efforts, the lack of accountability would come from the NGO/Government Organization itself, who (for better or worse in terms of enforcement) often have regulations in regards of spending donated funds in terms of documentation and accounting.

cameldrv 8y ago

The reason people want to give crypto is because they haven't reported it to the IRS. There are a lot of people with big gains in crypto that they should have reported years ago, and they're not sure what to do with it now. If they can directly give it without a reporting requirement, they're happy. Perhaps there's a secondary (primary?) business in people receiving anonymous donations from a generous benefactor, which they then are able to report as income and get square with the government without admitting to underreporting income.