Wikipedia volunteers no longer wish to allow cryptocurrency donations to support the free and open source encyclopedia.
The cryptocurrency page is turning at Wikipedia. In any case, it is the wish expressed by a part of the community which has taken part in a vote on the question, since January 10, 2022. More precisely, the problem which was posed to the volunteers was the following: should we continue to accept donations with cryptocurrency, such as bitcoin?
The answer, among the voters, is largely in favor of the no: of the 326 Internet users who expressed an opinion among those who voted with their account (and unsigned interventions and new accounts were not taken into account , in particular to avoid attempts to manipulate votes), 232 (71.17%) are asking for crypto donations to be stopped.
Donations that represent… 0.08% of income
The abandonment of cryptocurrency donations would not upset the financial balance of the Wikimedia Foundation. As of fiscal 2021, the total bitcoin and other donations were worth $130,100.94 — although crypto prices can rise dramatically at times, this is still very small compared to more traditional revenue channels.
” Cryptocurrencies accounted for around 0.08% of our revenue last year, and they remain one of our smallest revenue channels “We read in the arguments put forward to support the abandonment of electronic currencies. Clearly, the abandonment of this source of financing would not really upset the destiny of the free and free encyclopedia.
Wikipedia is essentially based on the generosity of the public, with regular campaigns to appeal for donations. In addition to Internet users, the project can also count on funding from private companies – like Google, which is a legitimate endorsement given the benefits it derives from it – or from foundations.
Crypto donation support dates back to 2014
Support for cryptocurrency donations dates back a decade. In March 2014, the founder of Wikipedia, Jimmy Wales, expressed his interest in this other method of financing, which would be added to those already in place. And in August, it was done: cryptocurrency donations on Wikipedia were possible.
Initially, the intermediary requested was Coinbase, one of the main Bitcoin exchanges. Today, a competing solution is sought: BitPay. Three cryptocurrencies are supported: Bitcoin, Bitcoin Cash and Ether. Donations in this form are not retained: they are converted into dollars, which is legal tender, unlike cryptos.
The arguments for or against cryptocurrencies are known and are the same as can be read elsewhere on the web.
On the side of crypto supporters, it was recalled that there are methods that are less energy-intensive, because they are based on a different functioning (proof of stake instead of proof of work), that current currencies also pose problems environmental and that cryptos are less risky for use in repressive countries.
On the other side, we essentially find criticism of the increasingly negative impact of cryptos, especially in terms of energy. But it is also noted that accepting cryptos is also implicitly accepting all the peripheral problems (volatility, money laundering, etc.) and, taking the risk of tarnishing the brand image of the encyclopedia .
The rather massive rejection of cryptocurrencies by voters echoes what happened earlier this year with Mozilla, the publisher of Firefox. Like Wikipedia, the organization had accepted donations in crypto in 2014. And like Wikipedia members, the Firefox community no longer accepts it. As a result, donations have been suspended.