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Bitcoin Donations To US Campaigns Might Soon Be Allowed
SonicSpike writes with this excerpt from Politico: "Political campaigns will be allowed to accept — but not spend — the digital currency Bitcoin, under a proposed federal rule released Thursday. The Federal Election Commission draft would require campaigns to first convert any Bitcoins collected as donation to dollars. According to the proposal, the currency will count as an 'in-kind' contribution to a campaign — like a stock or bond. The FEC will not consider them currency. Campaigns are permitted to accept non-monetary contributions like stocks, private stocks, commodities, and equipment— but must list their value in dollars on campaign finance reports. Attorneys for Conservative Action Fund PAC asked the agency in September to decide if and how political candidates and outside groups are allowed to use the digital currency, in addition to U.S. dollars. "
Good. But still bad. Great for Bitcoins. A big shame that donations are allowed at all.
Congress will take bribes from anyone.
With 3D printers you'll be able to make hours, days or any other unit of time at home, for free!
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
Sorry to bear it to you, but your precious US dollar is not real money since 1934 when the US government defaulted. Any form of currency that can be devalued on a whim is make-believe: it lasts only as long as people believe in their government and banking system, and people are rapidly losing faith. Take a look at the public debt to GBP ratios: the debt spiral looks like there will be a collapse in no more than 10-20 years.
That's why people are so desperately looking at a currency that can't be spent at a deficit.
The creatures outside looked from Alt-Right to Antifa; but already it was impossible to say which was which.
Care to share your definition of "real money"? Money can only be something that people value above its production cost, which makes the existence of "real money" impossible.
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Real money is something that has a guarantee that it can be turned into goods or services in the future, backed by something that most people will trust. Examples of the guarantee include a bank that owns a lot of assets making a promise, a guarantee that a government will accept it in payment for taxes or will enforce your right to settle debts with it, or some commodity (historical examples include grain and precious metals) that is stored somewhere in an amount that makes a convincing argument that people who want the commodity can go to the backer and exchange their tokens for the commodity.
Bitcoin is backed by nothing. There is no large organisation (government or private) guaranteeing that they will accept it in exchange for goods, services, or relief from debt. There is no commodity store that you can go to and exchange bitcoins for some guaranteed amount of the commodity.
There are markets, but they are unlike traditional commodity markets because commodity markets have a mixture of traders (who either produce or consume the commodity being traded) and speculators (who bet that the value of the commodity will go up or down and make money when they guess right, and who provide extra liquidity that helps the market function). Bitcoin markets solely contain speculators and so are extremely volatile.
I am TheRaven on Soylent News
with the likes of those who operate the silk road. "in-kind" contribution? Sounds about right to me.
Or maybe the nerds saw the boat but decided not to ride it.
There's a word for people whose interest is making money without working, and it's not "nerd".
Yup, and now they want donations for it too.
"I opened my eyes, and everything went dark again"
With 3D printers you'll be able to make hours, days or any other unit of time at home, for free!
I'm sorry to burst your bubble, but you need a 4D printer for that.
The Tao of math: The numbers you can count are not the real numbers.
Backing is required for fiat currencies because they do not have any sort of built in scarcity other than what is enforced by the owner of the fiat. The promise is really to bust down my door with guns if I try to produce any US$ myself, thus creating an artificial scarcity of valuable pieces of basic paper and ink.
Bitcoin is not a fiat currency, it's closer to gold in that it has an actual scarcity, just like one day we'll run out of gold one day we'll run out of bitcoins and our option for expanding the supply will boil down to further subdividing the pool that remains. The backing is fundamentally mathematical in nature, just like gold's value as a currency is that it is very difficult to produce for ANYONE, but if I discover a gold mine in my back yard I can produce all the gold I want without worrying that someone will put me in jail for doing so.
The way the united states was weaned off the gold standard was to enforce fiat style rules on gold, treating ownership of gold the same way we treat counterfeiters, as if the act of owning gold was counterfeiting currency. They took the gold and provided fiat currency instead. It was not until the fiat US$ was firmly established that laws on gold ownership were relaxed.
bend like the reed
Let's just save some money and do this right for a change.
First; gather all political donations to ALL candidates regardless of party. In fact,this includes every party right down to the independents only registered in one state.
Then; organize a 50 states in 50 days tour like Lollapalooza. ( If George Thorogood can do it, someone wanting to be president can do it.)
Make them all ride in the same bus, no consulting with campaign managers who will be left behind, along with cell phones.
All day debates on 5 stages. Everyone is given a chance on a level playing field to show their stuff for the voters with no bullshit drama to distract from the naked( so to speak) candidates.Then finally at the end have an all week television debate on network t.v. for those not disposed to crowds. Any remaining money could be spread across charities.
THIS is the way the voters need to see candidates. Naked, without a net, without aid, talking about what they would do and why, without any interference from "image" protectors or speech writers. Who the fuck cares what a campaign manager tells a candidate to say? The campaign manager is sitting home rich, while his candidate ruins the country. Time for change. Be smart about it this time.
*Repent!Quit Your Job!Slack Off!The World Ends Tomorrow and You May Die!