Cryptocurrency has gone mainstream, and if you’ve been sitting on the fence about accepting donations in virtual currency, it’s time to make a decision. But before your not-for-profit says “yes” to a Bitcoin (or other cryptocurrency) gift, make sure you understand the issues involved — including the risks.

Virtual currency = risk

Cryptocurrency refers to a decentralized form of digital currency that’s tracked in a blockchain ledger. Unlike traditional currencies, the ledger doesn’t reside with a central authority, such as a bank or government, but across public peer-to-peer networks. The value of cryptocurrencies derives in part from its scarcity. In the case of Bitcoins, for example, the supply is limited to 21 million “coins.”
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Russ:  This is PKF Texas Entrepreneur’s Playbook.  I’m Russ Capper, this week’s guest host, and I’m coming to you from the Gulf Coast Regional Family Forum and my guests Chris Dannen and Brandon Buchanan, Co-founders of Iterative Capital.  Chris, Brandon, welcome to the show.

Chris:  Thank you.

Brandon:  Thanks for having us.

Russ:  Tell us about Iterative Capital.

Chris:  So Iterative is a large-scale cryptocurrency miner, investment manager and private digital exchange.

Continue Reading Cryptocurrency and Blockchain: Where is it Headed?