Marcy asked how donated bit coins could be cashed in for Benny Bucks.
This youtube helps explain that and more.
of course, it isn't difficult to imagine that the day may well come when desperate people are asking the opposite question.
Thank you, Phil. Good straight forward discussion on Bitcoin. Now, I believe LPSF is past the phase of "What are Bitcoin." We are now into the phase "Does LPSF want to implement," and "Who is going to implement and maintain."
The first question can be determined if Aubrey agrees to place the item on the next LPSF Agenda. Should the use of Bitcoin for donations receive a Yes vote at the meeting, LPSF would need to have a committed volunteer responsible for:
1. Setting up the system for LPSF, using his/her own computer. I would imagine a cloud-based system would be preferable.
2. Acquiring a donation for the initial amount in the account We cannot use existing LPSF funds, since the donors of those funds did not intend them to be converted to Bitcoin.
3. Maintaining the account: ensuring funds are safe, reporting all transactions to LPSF monthly just like our Treasurer reports transactions in regular currency monthly.
4. Converting any donations in Bitcoin to regular currency when LPSF officers request it.
Promoting libertarianism, in my opinion, takes a lot more than having a great libertarian idea -- it takes work implementing the great idea!
Marcy
Bitcoin will be a major topic at this weekend's LPC Convention in Sacramento. Two bitcoin entrepreneurs, Jered Kenna and Ryan Singer, of TradeHill, will be featured speakers on Sunday. I'll also be hosting a bitcoin information table in the vendors room all weekend where delegates can receive bitcoin software and information.
With bitcoin's exchange value skyrocketing over the past 2 weeks from $70 to $120 USD, interest in using this currency is very high.
Terry Floyd, Treasurer
Libertarian Party of Alameda County
BTC donations to the Libertarian Party of Alameda County may be sent to this address: 1JDJER2SUFJEBPvuYDQjYc3Z5g3BmK8b3N