Why and how I made my first donation using cryptocurrencies

Today is the very first day of my life that I donated to an open source project using cryptocurrencies and here is why…

Cryptocurrency donations are the best !
Cryptocurrency donations are the best !

Open source projects rock

From the late 50’s, most of the produced code was made by groups of developers issued by the academic or research world. As such, it was generally distributed under the principles of openness and cooperation.

Modern economy lead to a all-to-monetize consortium where people -including the development field- try to create direct revenues from their works. Nowadays, open source projects are very often associated with “free” projects. Even if we can use them freely (most of the time), behind the scene there is a lot of people that worked hard to make it real !

I truly believe that an open source software is the best thing a developper can offer despite the fact that he cannot be financially granted for what he has done.

First of all because an open source software can be easily audited by third parties and that enforces the security of the project and its reputation. Then it can offer the possibility of learning. To learn how the software works, how it was implemented, the ingenuity behind it. And finaly because it can lead to a community creation where members are able to submit constructive proposals to grow the project.

An open source code is literally a gift from the developers.

Open source projects rocks !
Open source projects rock !

Donation… using cryptocurrencies

And every gift deserves some attention. It can be just a “thank you”, a “thumb up” or -modern economy oblige- a financial contribution in the form of a donation.

So what is the best gift I can donate to an open source project ? Maybe an open source financial collateral ? How about a cryptocurrency donation ?

Et voilà…

How I did it ?

In order to make my very first cryptocurrency donation, I was looking to a secure -and open source- solution. Something that looks like “KickStarter”, with the refund policies options and all the security stuffs, but crypto related.

So I found Flipstarter, a peer-to-peer and easy to use crowdfunding system.

FlipStarter — Open source peer-to-peer crowdfunding platform
FlipStarter — Open source peer-to-peer crowdfunding platform
Flipstarter — Open source peer-to-peer crowdfunding platform.

Using the Electron Cash wallet (Bitcoin Cash most used client) and the Flipstarter plugin, I was able to pledge my donation in just four easy steps :

  1. Install the plugin for Electron Cash.
FlipStarter plugin installation.
FlipStarter plugin installation.
Flipstarter plugin installation.

2. Find a Flipstarter campaign and set your pledge value.

flipstarter.electroncash.org pledge webpage.
flipstarter.electroncash.org pledge webpage.
flipstarter.electroncash.org pledge webpage.

3. Get a piece of text from the site and paste it into the Electron Cash plugin. The text contains the information needed to create your pledge.

Flipstarter pledge details.
Flipstarter pledge details.
Flipstarter pledge details.

4. The plugin gives a result for you to paste back into the site. It contains your pledge as a signed, partial transaction.

The FlipStarter website collects and monitors pledges until it has enough to build the complete transaction and then finalizes the assurance contract, and pays out to the target addresses.

If the campaign does not get enough pledges, then everyone can un-freeze their pledge and use it as normal. That is, the coin never leaves Electron Cash until the whole campaign succeeds.

The Satochip team decided to make a 1 BCH donation to the GREAT Bitcoin Cash client called Electron Cash. Because the team behind works hard on this open source project and makes Satochip hardware wallet integration possible.

Thank you 🙏🏻

Open source and affordable hardware wallet on smart card. More information on https://satochip.io — Follow us on Twitter : @SatochipWallet

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