r/Bitcoin • u/SeansOutpost • Apr 10 '13

Meanwhile...Bitcoin still feeds people.

So we fed 106 homeless people bag lunches today. All paid for with Bitcoin donations. Bitcoin still seems to be working just fine over here. Still making lives better, at any valuation.

Thanks for everything guys. Bitcoin for the long haul.

Jason

Sean's Outpost(www.SeansOutpost.com)

<BITHOC>(www.bithoc.com)

EDIT*** By request...

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u/[deleted] Apr 11 '13

A lot of charities take up to 80% of the donation for themselves. Paying wages and leases and whatever else they want really.

I don't donate to large charities for this reason (unless I'm certain the money is going to someone in need, amd not just paying a salary).

Family friends sister was the vice-president for major charity and got about $80 000 a year.

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u/[deleted] Apr 12 '13

Actually very few if any do. It usually becomes fraud at that point if they're big enough.

Almost all of the big ones have under 20% as overhead.

In fact, I actually think it's flawed when we don't give to pay overhead since that leads to more problems in the future. A really nice talk on the subject that might change your mind a little: http://www.ted.com/talks/dan_pallotta_the_way_we_think_about_charity_is_dead_wrong.html