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01-05-2022|Crypto

Wikipedia has stopped accepting Bitcoin and Ethereum donations after eight years.

The announcement comes after 71.2 percent of the Wikimedia community voted in support of a petition to discontinue accepting cryptocurrencies.

Following a three-month debate in which the environmental impact of bitcoin was a significant discussion topic, Wikimedia, the non-profit foundation that operates Wikipedia, has decided to cease accepting cryptocurrency payments.

  • Accepting donations in cryptocurrencies like bitcoin, bitcoin cash, and ether signals endorsement of digital coins, which are "inherently predatory" as investments and don't align with the foundation's commitment to environmental sustainability, according to a proposal from contributor Molly White, who goes by the user name GorillaWarfare.
  • 232 to 94, or 71.17 percent, of the fewer than 400 users who voted in favour of no longer accepting crypto, excluding new accounts and unregistered individuals.

  • White suggested that accepting cryptocurrency donations may harm Wikipedia's reputation, citing Mozilla's decision earlier this year to stop taking cryptocurrency donations.

  • BitPay is used by Wikimedia to accept bitcoin, bitcoin cash, and ether. White emphasised bitcoin and ether's high energy requirements, while also pointing out that there are other "eco-friendly" cryptocurrencies, though they are less extensively utilised.
  • Crypto miners have been accused of polluting the environment by utilising massive quantities of computer power to validate transactions via PoW.
  • Miners, on the other hand, have been aggressively combating such criticism by employing more environmentally friendly energy sources in their mining operations. Furthermore, proponents of bitcoin claim that miners can aid in the transition to clean energy.
  • Meanwhile, the Ethereum network has been striving to migrate to a "Proof of Stake" architecture for validating transactions, which uses less energy, though the shift has been slow.
  • Wikimedia has left the possibility of resuming crypto acceptance on the table, stating it will continue to monitor the situation.

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