Author

Topic: Breaking News: U.S. Federal Election Commission approves Bitcoin donations (Read 832 times)

legendary
Activity: 3766
Merit: 1217
Quote
Because the commission only approved the acceptance of bitcoin as specifically described in the request by the Make Your Laws PAC, the decision does not permit contributions of more than $100, she said.

I don't understand this one. Why a $100 limit? For cash contributions also there is a $100 limit?
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
This is good but what sucks is that they cannot use the bitcoins to pay for campaign spending. So the huge campaign industry will have no need to accept bitcoins.

The politicians must first exchange the bitcoins to dollars in order to spend it.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Quote
a PAC can accept bitcoin donations, as well as purchase them, but it must sell its bitcoins and convert them into U.S. dollars before they are deposited into an official campaign account. The commission did not approve the use of bitcoin to acquire goods and services.

They also approved the acceptance of gold bars, used cars and toilet paper as a donation but said they all must be sold and converted to U.S. Dollars before deposit to an official campaign account.
full member
Activity: 330
Merit: 100
this is great, aweseome news!!
sr. member
Activity: 476
Merit: 250
According to Washington Post, the Federal Election Commission has approved Bitcoin donations to political committees

Full story here:

http://www.washingtonpost.com/blogs/post-politics/wp/2014/05/08/federal-election-commission-approves-bitcoin-donations-to-political-committees/


Whooptey-frickin'-do!

We can now legally donate to the very people who would put us out of business, steal our assets and land us in the Greybar Hotel.

Right.
legendary
Activity: 1568
Merit: 1001
 Grin We have arrived on this one. If politicians want this stuff, the political class and their minions will take note of it also. And they're the ones responsible for the trajectory of this country and the same in others plus they're in ownership of the many spoils that government takes from the rest of us through their repertoire of ways. That said, the new financial elite will be the shot callers of the future. Cheesy
sr. member
Activity: 278
Merit: 250
Great news, I think this will start to be a big deal in coming elections...
newbie
Activity: 43
Merit: 0
legendary
Activity: 2394
Merit: 1216
The revolution will be digital
According to Washington Post, the Federal Election Commission has approved Bitcoin donations to political committees

Full story here:

http://www.washingtonpost.com/blogs/post-politics/wp/2014/05/08/federal-election-commission-approves-bitcoin-donations-to-political-committees/


This is huge... if those politicos start accepting and get the taste, they'll do the rest. BAN China ...We dont need them SOON !!!
hero member
Activity: 924
Merit: 1001
sr. member
Activity: 280
Merit: 257
bluemeanie
According to Washington Post, the Federal Election Commission has approved Bitcoin donations to political committees

Full story here:

http://www.washingtonpost.com/blogs/post-politics/wp/2014/05/08/federal-election-commission-approves-bitcoin-donations-to-political-committees/


un-!@#$ing believable.

try and use it to conduct commerce and they burn you at the stake.

give it as an anonymous cash payment to a politician and you win an award.

-bm
newbie
Activity: 45
Merit: 0
Thanks for sharing.  It is interesting that "assets" are being given for political contributions  --  Not "currency"  !
member
Activity: 84
Merit: 10
Hello World!!!
According to Washington Post, the Federal Election Commission has approved Bitcoin donations to political committees

Full story here:

http://www.washingtonpost.com/blogs/post-politics/wp/2014/05/08/federal-election-commission-approves-bitcoin-donations-to-political-committees/
Jump to: