April 29, 2013

This Libertarian Presidential Hopeful Wants Your Bitcoin Donations

<a href="http://www.flickr.com/photos/adamcrowe/5897030158/sizes/m/in/photostream/">Adam Crowe</a>/Flickr

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Darryl W. Perry says he’s running for president in 2016 as a libertarian, and he’s pledging to be the first White House hopeful to accept Bitcoin, the online currency currently en vogue in tech and libertarian circles.

Bitcoin appeals to libertarians who are skeptical of the Federal Reserve and other central banking institutions. As Jim Harper, the director of information policy studies at the Cato Institute, recently told Mother Jones, “There are types like me, libertarian gold-buggish folks,” for whom “inflation is a constant worry” and who “see the cryptography in Bitcoin as insulation against inflation.” The US Libertarian Party accepts Bitcoin donations on its website, and the Libertarian Party of Canada joined the Bitcoin bandwagon in March.

Perry laid out his decision to accept Bitcoin in a recent open letter to the Federal Election Commission, the nation’s beleaguered elections watchdog. The Darryl W. Perry for President campaign, he said, will not accept any donations “in currencies recognized by the federal legal tender laws.” The only currencies going into Perry’s campaign war chest are Bitcoin, Litecoin (another online currency), and precious metals. “I am attempting to put into practice a belief that I hold that we should get rid of the Federal Reserve, which is a central bank,” he recently explained. “And unlike some who want to get rid of the Fed, I don’t want the government stepping in to fill the void.”

Believe it or not, refusing to accept actual money may not be Perry’s biggest obstacle to running for president. Unlike the Libertarian Party, Perry disavows the very existence of the FEC and denies its authority to regulate campaigns. Perry says he will not file any paperwork with the commission establishing his presidential campaign, nor will he disclose whom his bitcoin/litecoin/gold contributors are or how he spends their money. He ends his letter by writing, “I intend this to be the last communication I have with this commission as part of my campaign.”

How serious is Perry’s candidacy? His website is, well, far from inspiring, and there’s one brief mention of him on the US Libertarian Party’s website. But he’s nonetheless one of the early Bitcoin adopters in politics, following candidates in North Dakota, Vermont, and New Hampshire who decided to accept the online currency. Provided Bitcoin doesn’t bottom out in the months or years ahead—the price of a Bitcoin is vulnerable to wild swings, evidenced by a 60-percent drop a few weeks ago, quickly shedding $115 in value—I wouldn’t be surprised to see more libertarian types embrace Bitcoin donations.

Therein lies a challenge: Explaining Bitcoin to the average voter is hard enough. If the FEC ever tried to regulate it, well, good luck.

WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

Because the in-depth journalism on underreported beats and unique perspectives on the daily news you turn to Mother Jones for is only possible because readers fund us. Corporations and powerful people with deep pockets will never sustain the type of journalism we exist to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we need readers to show up for us big time—again.

Getting just 10 percent of the people who care enough about our work to be reading this blurb to part with a few bucks would be utterly transformative for us, and that's very much what we need to keep charging hard in this financially uncertain, high-stakes year.

If you can right now, please support the journalism you get from Mother Jones with a donation at whatever amount works for you. And please do it now, before you move on to whatever you're about to do next and think maybe you'll get to it later, because every gift matters and we really need to see a strong response if we're going to raise the $253,000 we need in less than three weeks.

payment methods

WE'LL BE BLUNT

It is astonishingly hard keeping a newsroom afloat these days, and we need to raise $253,000 in online donations quickly, by October 7.

The short of it: Last year, we had to cut $1 million from our budget so we could have any chance of breaking even by the time our fiscal year ended in June. And despite a huge rally from so many of you leading up to the deadline, we still came up a bit short on the whole. We can’t let that happen again. We have no wiggle room to begin with, and now we have a hole to dig out of.

Readers also told us to just give it to you straight when we need to ask for your support, and seeing how matter-of-factly explaining our inner workings, our challenges and finances, can bring more of you in has been a real silver lining. So our online membership lead, Brian, lays it all out for you in his personal, insider account (that literally puts his skin in the game!) of how urgent things are right now.

The upshot: Being able to rally $253,000 in donations over these next few weeks is vitally important simply because it is the number that keeps us right on track, helping make sure we don't end up with a bigger gap than can be filled again, helping us avoid any significant (and knowable) cash-flow crunches for now. We used to be more nonchalant about coming up short this time of year, thinking we can make it by the time June rolls around. Not anymore.

Because the in-depth journalism on underreported beats and unique perspectives on the daily news you turn to Mother Jones for is only possible because readers fund us. Corporations and powerful people with deep pockets will never sustain the type of journalism we exist to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we need readers to show up for us big time—again.

Getting just 10 percent of the people who care enough about our work to be reading this blurb to part with a few bucks would be utterly transformative for us, and that's very much what we need to keep charging hard in this financially uncertain, high-stakes year.

If you can right now, please support the journalism you get from Mother Jones with a donation at whatever amount works for you. And please do it now, before you move on to whatever you're about to do next and think maybe you'll get to it later, because every gift matters and we really need to see a strong response if we're going to raise the $253,000 we need in less than three weeks.

payment methods

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