‘Pineapple Fund’ Giving Away $86 Million in Bitcoins to Charity

An anonymous organization is giving away a total of 5,057 Bitcoins to different charities and nonprofits. No, you can’t have one.

If you’re getting a headache trying to keep track of Bitcoin mania–and kicking yourself for not setting up a mining rig of your own seven years ago–don’t worry. Plenty of people other than you are getting rich from the digital currency, but there are a few who are making some pretty remarkable decisions about how to spend their newfound wealth.

A Bitcoin miner by the name of “Pine” has set up a new organization, dubbed ” The Pineapple Fund ,” that’s looking to donate 5,057 bitcoins to various nonprofits, charities, and causes. That virtual nest egg is worth about $86 million as of this writing, and 222 bitcoins have already been donated from the fund to organizations like the Electronic Frontier Foundation (EFF), The Water Project, and OpenBSD.

,” that’s looking to donate 5,057 bitcoins to various nonprofits, charities, and causes. That virtual nest egg is worth about $86 million as of this writing, and 222 bitcoins have already been donated from the fund to organizations like the Electronic Frontier Foundation (EFF), The Water Project, and OpenBSD.

“Sometime around the early days of Bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens. The expectation shattering returns of Bitcoin over many years has lead to an amount far more than I can spend,” reads The Pineapple Fund’s website.

“Sometime around the early days of Bitcoin, I saw the promise of decentralized money and decided to mine/buy/trade some magical internet tokens. The expectation shattering returns of Bitcoin over many years

“What do you do when you have more money than you can ever possibly spend? Donating most of it to charity is what I’m doing. For reference, The Pineapple Fund is bigger than the entire market cap of Bitcoin when I got in, and one of the richest 250 Bitcoin addresses today.”

“What do you do when you have more money than you can ever possibly spend? Donating most of it to charity is what I’m doing. For reference, The Pineapple Fund is bigger than the

And, no, The Pineapple Fund won’t help you buy a Tesla. While the organization is accepting applications from nonprofits that would like to be considered for a slice of fruit, it’s not giving out free bitcoins to anyone who asks. “Please do not apply or email. We have never funded an individual request and we never will,” the website reads.

According to Gizmodo , the EFF confirmed that it is working with The Pineapple Fund to receive the group’s initial donation of $1 million. In other words, this Bitcoin charity initiative looks legitimate so far–though its founder(s), wisely, are staying anonymous at this point. Their poor inboxes.

, the EFF confirmed that it is working with The Pineapple Fund to receive the group’s initial donation of $1 million. In other words, this Bitcoin charity initiative looks legitimate so far–though its founder(s), wisely, are staying anonymous at this point. Their poor inboxes.

See Also : The Pineapple Fund Adds More Bitcoin Charity Donation to …

Authorities across the globe are negatively affecting the price of Bitcoin through hostile regulations. Most of them only see nothing other than the negative effects of it. However, there is something Bitcoin can offer that needs a second look at. This cryptocurrency has fostered donations across the globe with its convenience and speed. Over millions of dollars worth of Bitcoin are donated to various charity foundations. The pineapple fund has added more donation for the Open Medicine Foundation Rising from $1 million to $5 million amidst the continuous fall of the digital asset.

The Open Medicine Foundation does research into myalgic encephalomyelitis / chronic fatigue Syndrome. The high expenses that go into such research have called for donations across the world. The pineapple Fund donated $1 million worth of bitcoin in January this year and this attracted a lot of praises. The Pineapple Fund has increased their donation by 500 percent, giving out $5 million worth of Bitcoin for the foundation to have a successful operation. This is one positive use of Bitcoin that seems not to be recognized by authorities but are always hard on it because of how illegal activities it is used for.

A comment spotted on Facebook in response to the donation links the increase in the donation amount to the many praises showered on them, and this may have indeed played a role. One of the comments states that: Thank you for giving hope to people suffering from this disease. My son has had it for about 10 years, most of that time it was not recognized as an illness, let alone a serious one. A life full of exhaustion and pain may come to an end soon for him and other sufferers.” This has served as a platform for Bitcoin fortunes to join the donation.

The Pineapple fund was founded by an anonymous who is known as Moniker of pine. In fact, he was one of the early traders of Bitcoin who hit the jackpot as a result of the price fluctuation. It has been estimated that his company value is $86 million dollars. He has therefore learned to give back to society as the cryptocurrency has given him more than enough fortune to spend in his lifetime. The greater rise of Bitcoin in last year created many millionaires overnight with some of them giving back to the various charity foundations to help against the fight of chronic diseases.

Andreas Antonopoulos is one of the popular figures who has benefited greatly from Bitcoin donations. According to reports, he influenced many people to join Bitcoin with his powerful speeches and books. He had, therefore, received donations for his help amassing to $1.6 million as of last year. Bitcoin donation was on the rise at the time Bitcoin was on the rise. As of last year, the donations given to the various charity homes had risen massively owing its reasons to the many profits made on the asset investment.

Andreas Antonopoulos is one of the popular figures who has benefited greatly from Bitcoin donations. According to reports, he influenced many people to join Bitcoin with his powerful speeches and books. He had, therefore,

for his help amassing to $1.6 million as of last year. Bitcoin donation was on the rise at the time Bitcoin was on the rise. As of last year, the donations given to the various charity homes had risen massively owing its reasons to the many profits made on the asset investment.

The fidelity charitable organization is one of the few receiving donations in Bitcoin. In the first half of 2017, the organization received a total donation amount of $9 million dollars. This is huge compared to the donations they have had in the past. In the first half of 2016, the organization received $2 million in Bitcoin indicating that the receiving amount has increased significantly from its initial donation. They received $22 million worth of Bitcoin in 2017. The CEO of the organization revealed plans of integrating with one of the largest cryptocurrency exchange called Coinbase after declaring a massive support on Bitcoin.

The fidelity charitable organization is one of the few receiving donations in Bitcoin. In the first half of 2017, the organization received a total donation amount of $9 million dollars. This is huge compared to the donations they have had in the past. In the first half of 2016, the organization received $2 million in Bitcoin indicating that the receiving amount has increased significantly from its initial donation. They

in 2017. The CEO of the organization revealed plans of integrating with one of the largest cryptocurrency exchange called Coinbase after declaring a massive support on Bitcoin.

It is not clear whether the cryptocurrency donations will continue to be effective this year considering the rate at which the value of Bitcoin is falling. As it stands, Bitcoin value is below $8000 with a great fall in market cap as well as the market cap of all the cryptocurrencies. Research agencies such as the Quinlan associates has predicted a deep fall of Bitcoin in 2018 projecting it to trade around $1800. However, Tom Lee and some other experts still hold their prediction that Bitcoin will hit $50,000. Whatever side the prediction takes, it will have a greater effect on the Bitcoin donations.

See Also : UNICEF Asks PC Gamers To Mine Ethereum And Donate To …

UNICEF (United Nations International Children’s Emergency Fund) has started a new kind of charity drive for Syrian children, asking PC gamers to use their computers to mine Ethereum and donate their earnings.

UNICEF (United Nations International Children’s Emergency Fund) has started a new kind of charity drive for Syrian children, asking PC gamers to use their computers to mine

The two-month long charity campaign that began Feb. 2, dubbed Game Chaingers , is aimed at gamers that use high level graphics cards capable of cryptocurrency mining, turning the cards into “humanitarian tool[s]:”

, is aimed at gamers that use high level graphics cards capable of cryptocurrency mining, turning the cards into

“Today, humanitarian collections often solicit the same people with the same methods, but cryptocurrencies and their revolutionary approach are an opportunity to raise funds differently. Have you heard of Bitcoin? The Ethereum is the same, except that you can more easily ‘mine’ the Ethereum coins via your computer and that money will go directly into the UNICEF wallet.”

Donations work in the following way: when participating gamers take a break from their computers or go to sleep, they can turn on UNICEF’s Ethereum mining program, thus donating without giving away anything but access to their computer’s processing power.

“Through the use of mining we create an opportunity for those who can not give or have never had the opportunity to do so.”

Game Chaingers’s statistics currently shows a total of 360 contributors, 44 of which are currently active at press time, that have mined almost 900 euros in donations for humanitarian aid for Syrian children.

According to the website’s project info, 8.3 mln children in Syria and bordering countries are in need of vital emergency help. UNICEF will use the donated Ethereum to give these children access to water, education, and health and hygiene services.

In January 2017, UNICEF presented “Donercoin” at London Blockchain Week, a Blockchain -based program aimed at creating transparency in global aid by digitizing donations.

More recently, in August 2017, UNICEF Ventures, a branch of the main organization, began testing Ethereum-based smart contracts also to improve the transparency of asset transfers.

Pineapple Fund , a Bitcoin -only charity founded by an anonymous donor, has also made large donations in Bitcoin to a number of philanthropic organizations in the past few months. According to their website, the Fund plans to give out a total of $86 mln to charity.

to a number of philanthropic organizations in the past few months. According to their website, the Fund plans to give out a total of $86 mln to charity.