- 70 percent of the voting was to stop crypto donations
- Crypto mining consumes more electricity
- There is a risk of damage to the environment due to this
The foundation initially tied up with Coinbase to accept bitcoin and later began using BitPay to receive donations in other cryptocurrencies.
70 percent of the voting was to stop crypto donations
The Wikimedia Foundation, the developer of the popular encyclopedia platform Wikipedia, has said it will no longer accept donations in cryptocurrencies and has closed its BitPay account. The Wikimedia Foundation spent three months discussing whether donations in crypto should be accepted by local community members. In the voting that followed, more than 70 percent of the members voted in favor of discontinuing donations in crypto.
The Wikimedia Foundation said in a statement, “It has been decided to stop accepting cryptocurrencies as a means of donations. We began accepting cryptocurrencies a few years ago following requests from our volunteers and donation communities.” We are making this decision based on the recent feedback received from these communities.” The foundation initially tied up with Coinbase to accept Bitcoin and later began using BitPay to receive donations in other cryptocurrencies.
Crypto mining consumes more electricity
At the debate on crypto donations earlier this year, Wikipedia publisher Molly White reported that around 400 community members have taken part, but it appears that many of them have simply taken part in the debate and called the foundation against crypto. To create an account. One of the major arguments against crypto was the damage it causes to the environment. Mining cryptocurrencies requires solving complex mathematical puzzles on a network of computers. This process consumes more electricity.
There is a risk of damage to the environment due to this
However, members who favor donations in crypto said it could facilitate anonymous donations from countries in which Wikipedia has been declared illegal or censored. Earlier this year some editors at Wikipedia voted against the art of non-fungible tokens (NFTs) being linked. There has also been a lot of opposition in some countries to the excessive consumption of electricity in the mining of cryptocurrencies. China banned crypto mining last year for this reason.
In Texas, America, people had to face a lot of difficulties due to lack of electricity due to crypto mining.