[Lnc-business] Donations in Bitcoin

[Tim Hagan]

They are converted to dollars when we receive the donation. BitCoin 
contributions are conducted through Bitpay, an online bitcoin payment 
processor. The contributions are denominated in dollars through the LNC 
website, converted from bitcoin into dollars by Bitpay at a fixed 
conversion rate at the time of the transaction, and the contribution 
deposited in dollars by Bitpay into the LNC bank account on the 
following business day. This is to comply with reporting requirements 
and the requirements of FEC Advisory Opinion 2014-02.

We could consider other cryptocurrencies only if they can be done in 
compliance with FEC regulations. They have to be converted to dollars 
and deposited into our bank account before being spent.

---
Tim Hagan
Treasurer, Libertarian National Committee

On 2017-12-06 13:07, Sam Goldstein wrote:
> Do we keep this in Bitcoin or covert the BC to dollars?
> 
> ---
> Sam Goldstein
> Libertarian National Committee
> 317-850-0726 Cell
> 
> On 2017-12-06 16:02, Daniel Hayes wrote:
>> Would we want to consider “accepting” other cryptocurrencies?
>> 
>> Daniel Hayes
>> LNC  At Large Member
>> 
>> Sent from my iPhone
>> 
>>> On Dec 6, 2017, at 1:18 PM, Robert S. Kraus <robert.kraus at lp.org> 
>>> wrote:
>>> 
>>> We raised $5005 so far this year from BitCoin donations. There has 
>>> been a slight increase in # of donations but not really in $$$
>>> 
>>> If someone wanted to pay for their convention package with BitCoin 
>>> they can do so by making a donation in the amount of the package 
>>> here: https://www.lp.org/donate/bitcoin/
>>> 
>>> They can then send me an email robert.kraus at lp.org & tell me this was 
>>> for a convention package & what package plus name tag details.
>>> 
>>> Thanks for asking!
>>> 
>>>> On 12/6/2017 1:23 PM, Daniel Hayes wrote:
>>>> Robert,
>>>> 
>>>> How much donations do we get in bitcoin per year? Have we had an 
>>>> uptick with the recent bitcoin boom or a drop off?  Is it possible 
>>>> for people to pay for Convention using bitcoin?
>>>> 
>>>> Daniel Hayes
>>>> LNC At Large Member
>>>> 
>>>> Sent from my iPhone
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>>> 
>>> --
>>> Robert S. Kraus - Operations Director
>>> Operations at LP.org
>>> Libertarian National Committee, Inc.
>>> 1444 Duke Street
>>> Alexandria, VA 22314
>>> Ph: 202.333.0008 x 231
>>> 
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>> 
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