Yelp Director, Luther Lowe, Makes Bitcoin Donation to ASMSA

August 7, 2014 09:00 UTC

Luther Lowe, the Director of Public Policy at Yelp, has made a $10,000 Bitcoin donation to his alma mater, the Arkansas School for Mathematics, Sciences and the Arts (ASMSA). The payment was made online through BitPay while Luther Lowe was on stage at ASMSA’s commencement ceremony. Sadly, ASMSA didn’t keep the Bitcoin as they used Bitpay to cash out the Bitcoin immediately to fiat. In short, Luther Lowe’s gift to fund a program for learning about Bitcoin was transacted in a way that didn’t benefit Bitcoin.

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First Bitcoin Donation to High School

ASMSA, the high school for academically advanced students ranked as the 13th top high school by Newsweek and The Daily Beast, will be creating a new program at their high school to teach students about Bitcoin. In a world where Bitcoin is so new, this can be likened to how people who grew up without computers being a major part of their life, were computer illiterate. Many people needed to learn how to operate a computer, and it was no easy task teaching about how computers work. Bitcoin is in its infancy, but it may become commonplace in the future. Having a program to teach teenagers how to use Bitcoin will be a major step in the direction of helping people become more Bitcoin literate, thus helping Bitcoin technology take hold in daily life that much more easily.

Luther Lowe’s gift to ASMSA was the first of its kind. No other high school has ever received a donation in Bitcoin before, yet many high schools have received donations and often are named after people who donated much of the funding to found a school. Inspired by Luther’s method of giving his donation to the school, ASMSA has established a donation page for those interested in making further donations in Bitcoin instead of fiat currency. Any donations made on that page will help to enhance the new Bitcoin program the school is offering.

Yelp, whom Luther Lowe is the director for, is a business helping people locate local businesses in their area. Luther donated to the school in Bitcoin as Yelp started helping customers find businesses who accept Bitcoin. Perhaps his donation was to assist with Yelp’s marketing endeavors or perhaps they’re working to cash in on the Bitcoin media to draw more attention to their business. Whatever the case is, helping the school to educate teenagers about Bitcoin will greatly help Bitcoin to become much more wide-spread in the long run.

What do you think about Luther presenting a gift of Bitcoin to ASMSA only to have it sold for fiat instantly? Should ASMSA have retained at least part of the Bitcoin and exchanged the rest of it for fiat? How do you think the world could benefit from people learning about Bitcoin through programs like the one Luther sponsored? Let me know what you think by leaving a comment below or discussing this in the CCN forums.

Disclaimer: I’m not affiliated with Yelp or ASMSA, but I’m fully invested in Bitcoin.

Photos Credits: Present and Bitcoin logo courtesy of Pixabay

Last modified: August 7, 2014 08:36 UTC

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