Crypto and politics

[iv4n]

Do you think that cryptocurrencies political donations is a bad idea? Why do you think so?

I think you need to read more about political donations, who is donating & for what reason, and where that money ends up...

Since many cryptocurrencies are traceable why is some politicians in house of rep so against this?

You answered your own question... they don't want it because crypto is transparent, it's open book. And politicians are corrupt, and they don't wish open books... they wouldn't be able to cheat. That's the beginning and the end of the story.

[AprilioMP]

Do you think that cryptocurrencies political donations is a bad idea? Why do you think so?

Since many cryptocurrencies are traceable why is some politicians in house of rep so against this? Lack of trust? Battle for the supporting part? Or simple hatred for cryptocurrencies?

Do you think crypto should be used this way or it's wrong?

Anything that can be made transparent will inevitably be opposed by those who have malicious intentions regarding the use of public funds for corruption.
The opposition and hostility they express stem from the fact that they can no longer engage in corruption.

The House of Representatives will face difficulties because their transactions will be exposed once the public has access to their crypto addresses. I support efforts toward transparency among officials during their tenure because the funds they enjoy come largely from taxes paid by the people.

[UpTober]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

[Rabata]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

I have a slightly different opinion. Actually, not everything depends on the wish of the user. When you think about using crypto currency in something public activity, it is important to have control and transparency. In countries where crypto is allowed, it is used within a proper plan and framework. There, the government tries to allow crypto in those sectors where there will be no major problems or doubts. And if crypto is donated for any political issue, it can have a negative impact in some cases. Because if there is a question of transparency here, it is better to avoid it.

[tabas]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

In tough situations, I think that if there will be aide or donations that will be in the form of crypto, they can always make an exception. Like when Ukraine being put in a war, there's so much donation that have came to them through crypto. And this is what those countries that don't like cryptocurrency are not considering. It's a global donation that could come to them in split seconds and they'll receive the fund quickly. But they have to convert it to fiat for them to use it if they don't understand it yet but I guess that can be managed later on.

[Smartvirus]

Do you think that cryptocurrencies political donations is a bad idea? Why do you think so?

Do you think crypto should be used this way or it's wrong?

There isn’t any particular way that cryptocurrency or Bitcoin can be and should be used but, in the early stages of Bitcoin, it is of best interest to not have Bitcoin or cryptocurrency to be used in such a way that would bring it to disrepute. It creates a bad image in the minds of those who are yet to interact and have a basic understanding of the currency. Not so may person are open to learning and the first narrative they get about the innovation could make all the difference.

[UmerIdrees]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

So in that case, there are very few countries where cryptocurrencies are declared legal, while in most parts of the world, people are using the cryptocurrenices but they are using it on their personal capacity as the governments hasn't declared it a legal tender expliecitlity but at the same time, the governments haven't banned them either.

Keeping this fact in mind, while sending donations in crypto may not be a bad idea, but people would think it in a suspicious or negative manner, and the majority of people expect the donations to be via cash or bank transfer.

[alani123]

Honestly I'd rather not donate crypto I'd much rather donate cash.

If a political organisation I support doesn't have active trusted members in my city so I can donate in cash discreetly why would I even bother? If a political movement is so far detached from my whereabouts my philosophy is that it can't bring tangible benefits to my life.

So for the occasions that an organisation is acting in a place of interest I might have abroad usually I'm not allowed to donate anyway if it's about politics. So crypto in political donations could raise some alarms. I'd rather not see it.

[Itz-prisigold]

Crypto and politics can be a tricky one though, on the good side about using crypto for donations is that,  it could actually make things more transparent and open, so that means anyone can actually support and all the records are in the blockchain.

But I don't really think that it is that smooth. While transactions in crypto are traceable,  the identity behind the person is hidden, so that means you don't really know who is behind the wallet, and that can allow anonymous or even illegal money to sneak in, and another thing is that crypto market is very volatile, which is not great if a campaign needs a particular amount of money.

So I think really think that politicians are ignoring crypto because they don't actually like it,  but because they don't really trust it and maybe fear of losing influence from traditional donors. But if they really want to use crypto for politics,  there should be a solid rules and full transparency, if not it will only create more problems.

[Furball808]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

Legal or not, it’s hard for politicians to deny offerings. It’s still money after all and any amount can massively help in their campaigns. They may still secretly accept it and since crypto is anonymous anyway they can get away with it.

[UpTober]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

Legal or not, it’s hard for politicians to deny offerings. It’s still money after all and any amount can massively help in their campaigns. They may still secretly accept it and since crypto is anonymous anyway they can get away with it.

Yes, they can use it secretly, but I have said that politicians in countries where Bitcoin is not officially approved should not publicly accept donations through Bitcoin because it will criticize them. I sometimes see news where even though Bitcoin is not approved in a country, many politicians in those countries do some transactions through crypto and when it comes out in public, people comment negatively on it.

[Strongkored]

In countries where cryptocurrencies are allowed, people may send donations through fiat currency, but in countries where cryptocurrencies are not allowed, the government of those countries will never accept donations through cryptocurrencies. It is a fact that people can use cryptocurrencies or crypto currencies for any purpose or in any way. Those who have bad intentions use them badly, while those who have good intentions use them well, that is, it all depends on the person.

In politics, things are different. Politicians won't care about the form of donations they receive, as long as they care about the amount.
So, in countries that bsnned crypto, their politicians might accept donations in crypto. Therefore, you shouldn't trust politicians because their focus is on making money.

[Kelward]

I don't know much about using cryptocurrency to make donations for campaigns and political matters but I assume that it won't be a problem because I remember some donors made donations with Bitcoin during Trump election. Any politicians that are against crypto donations for elections must have skeletons in their cupboards because they wouldn't want the trace of their donations to be seen publicly on a Blockchain. Whether politicians or anybody is against Bitcoin for any reasons whether political or not it doesn't stop it from being a store of value, anybody can make their donations in Bitcoin if it's allowed or they can swap to fiat and do what they want.

[Fortify]

Do you think that cryptocurrencies political donations is a bad idea? Why do you think so?

Since many cryptocurrencies are traceable why is some politicians in house of rep so against this? Lack of trust? Battle for the supporting part? Or simple hatred for cryptocurrencies?

Do you think crypto should be used this way or it's wrong?

Most definitely a bad idea in politics. There are a lot of dangerous and negative forces out there trying to push certain agendas that might actually be against the best interests of stable democracies. Allowing any sort of anonymized or untraceable funds into the political system risks undermining the whole thing, it is most successful exactly because it is so transparent. What we're seeing is a lot of subversive forces trying to sow division and fund the extremes of the political spectrum for their own benefit. Chaos means that the richest class are able to continue abusing and raping the system for maximum monetary gain, while trying to get the average people to fight against each other over petty little differences. It is all unnecessary distractions and we should keep any potentially dirty money far away from politicians who can be so easily corrupted by it.

[danherbias07]

Could it be that they don't want any traces of it? They don't want a receipt. They don't want something that will go back to them, win or lose.

Well, many countries' governments still don't like new technologies like cryptocurrencies and blockchain, because they will be transparent. If an average will see it, they won't have any chance to steal anything. Let's be real. They are spending way too much money on their political campaign, and some even go as far as millions in their currencies. When you compute it versus their 3-6 years of being a public servant, their salary won't even suffice to cover it all. This leads to the idea that they will probably steal to get it back. If it's in the blockchain, it will be a problem.

[Lembo69]

Politicians will face many problems due to crypto currency, so they will not give in to crypto. Because the way they spend money in politics is not possible in crypto transactions. Because if they follow this method, they will not be able to grab people's money later, so crypto is just an unnecessary name for them.

However, they will never understand how safe and secure the transaction will be if the digital currency Bitcoin is used for transactions, instead of thinking about stability, they only think about instability. Because they have considered this path of their politics as one of the means of business. If people do not transact in the banking system, then how will they steal and loot, so they should be given the opportunity to steal haha, although it is funny, this is what is happening now

[slapper]

Is crypto donation bad? Bad in comparison to what? The current system? Where a hedge fund is able to launder millions of dollars in a shell PAC and no one raises an eyebrow? The population forgets how opaque traditional political money is. By design, structurally, the feature of the current system is its opaqueness.

What the politicians who object to this are actually safeguarding is not their electorate. Their current connections with the financial intermediaries that handle donations, who charge commissions, who enter into reporting contracts are theirs. Take crypto out of that and you take them out of that. Simple.

Some are suspicious. There HAVE been anonymous crypto donations, privacy coins exist, mixing services exist. Therefore, the issue is not completely created out of thin air. However, these particular technical issues are not the ones that are being raised by the loudest opponents. They are merely uttering crypto bad and that tells you all you need to know about the source of their concern.

Bitcoin is more auditable than cash. Way more. A cash contribution of less than the reporting threshold, i.e. 2000, disappears entirely. A 2015 Bitcoin transaction is currently on the chain and can be verified, timed, and permanent. Which one then should we really be concerned about.

Crypto donations make funding democratic in a manner that is particularly threatening to incumbents. A candidate could theoretically be funded by small donors all over the world. No bundlers. No gatekeepers that determine who receives the money and who does not. That horizontal movement of value is truly novel and truly dangerous to individuals whose authority lies in the manipulation of vertical flows.

[ZAINmalik75]

These are two different aspects, crypto goes up and down in its place and politics works on its state, but when they work separately on their chair, their path is different, but when a big job has to be done, politics always gets the job done through crypto or some other big thing. There are many examples in front of us, out of which a big war is going on right now, in which its politics has been strengthened using crypto, which has caused a lot of damage to crypto. Through this, it also imposes restrictions on other countries and at the same time stops many wars through crypto. The way crypto is controlled through these things is not good, if it wants to go up according to its own level, we will see it at the top. In politics, everything is always used and put aside and crypto will also be left behind by using the politics of some countries.

It was a tool for these politicians, before they used to hate it, even Trump was against crypto, he hated bitcoin and then suddenly he became the savior of crypto, he took donations for his campaigns in bitcoin, he changed. Why he changed, did he started to accept the real benefit the btc blockchain technology holds or did he just wants to take donations for his campaign, which was in millions, in a time, in which if he would not have accepted bitcoin, then it would still thrive without trump and it would be a huge lose to him so he did not wasted the opportunity.

He did gets more support from crypto community and I am sure a lot of US citizens voted for him because he made a lot of promises to do in crypto sector and that time, everyone was speculaing on it.

[Abiky]

It was a tool for these politicians, before they used to hate it, even Trump was against crypto, he hated bitcoin and then suddenly he became the savior of crypto, he took donations for his campaigns in bitcoin, he changed. Why he changed, did he started to accept the real benefit the btc blockchain technology holds or did he just wants to take donations for his campaign, which was in millions, in a time, in which if he would not have accepted bitcoin, then it would still thrive without trump and it would be a huge lose to him so he did not wasted the opportunity.

He did gets more support from crypto community and I am sure a lot of US citizens voted for him because he made a lot of promises to do in crypto sector and that time, everyone was speculaing on it.

Trump saw crypto's (particularly, Bitcoin) potential, and quickly took advantage of it. Like many other politicians and wealthy people, Donald Trump was skeptical about crypto. I mean, who doesn't? Crypto is still new and unproven. Even Bitcoin, the world's oldest crypto, lacks the same level of trust/confidence as more established assets such as Gold and Silver.

As crypto becomes more popular, politicians and other influential people will change their views about it. We just need to be patient. And now with governments devising crypto-friendly regulations, adoption will accelerate. Who knows what the future will bring?

[justdimin]

I think really think that politicians are ignoring crypto because they don't actually like it,  but because they don't really trust it and maybe fear of losing influence from traditional donors. But if they really want to use crypto for politics,  there should be a solid rules and full transparency, if not it will only create more problems.

Blockchain is fine, but you do not actually need that, as long as who gets how much donation from where is a public information, that's good enough. A single person's campaign could have public records so you can see who paid him how much and how much richer they get from every single cent, you could even check their family to see what's going on as well.

In most cases, it is not going to get any better at all, because knowing this would be tracked, people who bribe would find another way, same with blockchain as well. Still, there are developments based on blockchain for voting and for stock market etc where blockchain ledger must be very useful as no one can counterfeit. Blockchain is a solid ledger for maintaining records and it can be utilized even for politicians only when there is no fiat exists (and all are using only cryptos). When you can exchange your crypto for fiat and able to have anonymous addresses then application of blockchain in real time is limited.