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Author Topic: Challenge: Get a presidential candidate to accept bitcoin donations  (Read 2301 times)
BTC Economist
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June 27, 2011, 11:49:54 AM
 #1

It might be tough this year as I don't think Ron Paul is running.  President Obama and other high profile candidates probably don't want the political risk of accepting bitcoins, but if one candidate could do it it would be a publicity boon to the coin.  They are so desperate for money when they campaign that they might just go for it.

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JoelKatz
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June 27, 2011, 11:52:29 AM
 #2

I am hereby officially announcing my candidacy for President of the United States as a write in candidate. I accept donations in BitCoins at this address: 1LnfUmmkYjT77PqyKVasADPwPokqwEcLKx (Note: Donations may not be used in ways that directly further my candidacy, unless I can think of some good ones.)

I am an employee of Ripple.
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June 27, 2011, 11:53:37 AM
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The problem is that bitcoins are pseudo-anonymous and political donations are striclty controlled.
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June 27, 2011, 11:56:11 AM
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Knowing how money hungry politicians are during campaign time, this might not be an entirely dead idea.

Considering the prospect of hundreds of thousands in potential additional funding, some candidates might be willing to deal with the scrutiny that will fall upon bitcoin after they accept donations in it.

Then again, it could be political suicide at this stage.
How will they convert it to fiat currency to buy ad time etc.?

Reporters will most likely refer to it as money laundering or evil drug schemes based on Silk Road.

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June 27, 2011, 12:09:52 PM
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I am hereby officially announcing my candidacy for President of the United States as a write in candidate. I accept donations in BitCoins at this address: 1LnfUmmkYjT77PqyKVasADPwPokqwEcLKx (Note: Donations may not be used in ways that directly further my candidacy, unless I can think of some good ones.)

If you make bitcoin the official currency of the world then you've got my vote!

Anonymous Cash-By-Mail Exchange: https://www.bitcoin2cash.com
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JoelKatz
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June 27, 2011, 12:12:13 PM
 #6

I am hereby officially announcing my candidacy for President of the United States as a write in candidate. I accept donations in BitCoins at this address: 1LnfUmmkYjT77PqyKVasADPwPokqwEcLKx (Note: Donations may not be used in ways that directly further my candidacy, unless I can think of some good ones.)

If you make bitcoin the official currency of the world then you've got my vote!
I think making bitcoin an 'official currency' would actually be too ironic. But how about this -- my primary platform will be eliminating all legal obstacles, first in the United States and then in the entire world, to using BitCoins for all the things other currencies are used for. I commit specifically to the current protocol and hash chain. (I reserve the right not to commit to accepting Satoshi's key to shut things off.)

I am an employee of Ripple.
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MeSarah
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June 27, 2011, 12:25:33 PM
 #7

It will never happen. Not because its not a good idea, but rather every dollar must be matched with every donor. We dont want undue foreign influence in the political process. Plus it would take a candidate ages to convert the btc into cash. Think about it.  A candidate accepts $1,000,000 and it would take 1000 days to convert the money. By then the election will be over.

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June 27, 2011, 12:29:50 PM
 #8

I regret to inform you that I will have to withdraw my candidacy for President of the United States of America. Due to certain practical and legal realities, and the failure of my campaign to raise any money despite running for an ENTIRE 12 MINUTES, I am forced to conclude that it's just unrealistic at this time. When America is ready for me, I will still be ready for her. I thank my imaginary supporters for their imaginary support.

I am an employee of Ripple.
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cloud9
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June 27, 2011, 12:32:19 PM
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The problem is that bitcoins are pseudo-anonymous and political donations are striclty controlled.

The following might be a legal procedure for accepting non-anonymous Bitcoin donations:

1. Donor registers with identity documentation and access to password protected account
2. Donor's Bitcoin address gets verified with a random small 0.000000xx amount of Bitcoin sent to his address and he needs to reply verify amount received by accessing the donor account created in number 1 above.
3. Donor now first send donations through the Bitcoin address verified in no. 2 above to the party registered with in no. 1

This procedure allows for donations that is not anonymous at all, fully declarable, reportable and auditable.

Disclaimer:  Postings of Cloud9 are only individual views of opinion and/or musings and/or hypothesisses.  On a non-authoritative, peer-to-peer public forum, you do not need permission from Cloud9 to derive your own conclusions or opinions, so please do.  Calculations and assumptions to be verified.
relative
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June 27, 2011, 12:43:31 PM
 #10

CHALLENGE: get bitcoin (and its foreign exchanges!) to comply with campaign finance law.

no chance.
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June 27, 2011, 12:43:52 PM
 #11

I regret to inform you that I will have to withdraw my candidacy for President of the United States of America. Due to certain practical and legal realities, and the failure of my campaign to raise any money despite running for an ENTIRE 12 MINUTES, I am forced to conclude that it's just unrealistic at this time. When America is ready for me, I will still be ready for her. I thank my imaginary supporters for their imaginary support.

Oh great thanks for telling me but its a bit late. What am I todo about this JoelKatz for President tatoo?

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June 27, 2011, 12:45:36 PM
 #12

Oh great thanks for telling me but its a bit late. What am I todo about this JoelKatz for President tatoo?
If it helps, I'm still running in my own mind.

I am an employee of Ripple.
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cloud9
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June 27, 2011, 01:08:54 PM
 #13

CHALLENGE: get bitcoin (and its foreign exchanges!) to comply with campaign finance law.

no chance.

So if I donated lemonade (a good) under reportable identity in South Carolina, the donation in kind (not US$ currency) will not comply with campaign finance, because if I donated bitcoin (a digital cryptography good which can also be used as a commodity currency, or secure login, or secure message sending, or other cryptographic applications) it does not comply with campaign finance law?  When will people get over the novelty of Bitcoin, and realise that a commodity currency needs work, to the full value of the commodity used as an electronic commodity currency, to manufacture.  This is unlike tokens/script/vouchers/promissary notes that does not require work, to the full value of the paper/electronic promise, to be used as a currency.

The raw material for Bitcoins is random 0's and 1's.  A bitcoin is a very special arrangement of these 0's and 1's requiring quite an effort in human effort, time and capital resource effort.  Bitcoins just not just require electricity to be made - it requires the sacrifice of very expensive capital processing power, human effort, maintenance and running costs, and many other production costs involved in digital good manufacturing.

A handmade paper card is worth much more in human effort, time and capital resource effort - than the waste paper it can be manufactured from.

Disclaimer:  Postings of Cloud9 are only individual views of opinion and/or musings and/or hypothesisses.  On a non-authoritative, peer-to-peer public forum, you do not need permission from Cloud9 to derive your own conclusions or opinions, so please do.  Calculations and assumptions to be verified.
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June 27, 2011, 03:15:11 PM
 #14

George Carlin was right, we're given the illusion that voting matters, that parties matter, that the silly issues they pump up on TV matter. Just a shell game, boys. You don't control the monetary system, you have no real say in anything. Lobbyists don't get paid in ideals and optimism, they require cold hard cash.

We'll never take the corporate contribution system out of our politics, so why even friggin' bother. Time to route around these parasitic bastards and never look back.

Seriously.

fortitudinem multis - catenum regit omnia
qualia8
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June 27, 2011, 03:32:57 PM
 #15

No politician would take bitcoin.  It's a slap in the face to their financial overlords.  If they took BTC in defiance they, like Eliot Spitzer, would be suddenly busted and shamed for sexual shenanigans.
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June 27, 2011, 04:21:45 PM
 #16

Ron Paul is running but doubt he'll take btc
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June 27, 2011, 04:23:08 PM
 #17

Ron Paul is running but doubt he'll take btc
He would, if you told him it's making the government smaller.

I deal in Bitcoins: 1ANtpQH5UKKYrd9619VSSibL76uzjZGH1D
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June 27, 2011, 04:32:04 PM
 #18

Ron Paul is running but doubt he'll take btc
He would, if you told him it's making the government smaller.

A non-fiat currency not controlled by any central bank? Ron Paul would go apeshit over this.

Quote

The problem is that bitcoins are pseudo-anonymous and political donations are strictly controlled.


Politicians only have to report information of donors donating more than $200. So long as they recorded your personal information at the time you made your donation and reported the fair market value of your "gift" (since BTC would be seen as a commodity, not a currency) to the FEC, there should be no issue.
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June 27, 2011, 04:38:07 PM
 #19

To add to Tymothy's point, the ultimate irony here is that in order for it to be a violation of the FEC regs, the government would have to acknowledge it as MONEY, which given the streisand effect would formally legitimize BTC for world use.

Remember folks, the only thing prohibition achieves is
a) Higher prices
b) Only criminals use the prohibited item, since anyone using the prohibited item is a criminal

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June 27, 2011, 04:49:39 PM
 #20

Ron Paul is running but doubt he'll take btc
He would, if you told him it's making the government smaller.

A non-fiat currency not controlled by any central bank? Ron Paul would go apeshit over this.

Quote

The problem is that bitcoins are pseudo-anonymous and political donations are strictly controlled.


Politicians only have to report information of donors donating more than $200. So long as they recorded your personal information at the time you made your donation and reported the fair market value of your "gift" (since BTC would be seen as a commodity, not a currency) to the FEC, there should be no issue.

Donate your valuable digital goods to your favourite candidate:

Encrypt the wallet.dat file and email the encrypted version to the candidate's campaign address.  Include your contact details for reporting purposes and for password retrieval of the encrypted file.

Disclaimer:  Postings of Cloud9 are only individual views of opinion and/or musings and/or hypothesisses.  On a non-authoritative, peer-to-peer public forum, you do not need permission from Cloud9 to derive your own conclusions or opinions, so please do.  Calculations and assumptions to be verified.
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