Bitcoin Donations To US Campaigns Might Soon Be Allowed 144
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. "
Well... (Score:3, Insightful)
Good. But still bad. Great for Bitcoins. A big shame that donations are allowed at all.
Equal Opportunity (Score:5, Insightful)
Congress will take bribes from anyone.
Re:Can we have a week without ... (Score:2, Insightful)
This decision is pretty much, "It isn't real money, but something that enough chumps value."
Re:Well... (Score:3, Insightful)
Gold ownership doesn't mean having to carry around the gold, just having some evidence that you own it.
And if you lose that evidence, well, at least there's a record elsewhere to confirm it.
You lose your bitcoin, and it's lost.