Republican Senate Candidate Received Bitcoin Donation

Missouri Republican candidate, Austin Petersen received Bitcoin donation valued at $4,500 in his campaign for Senate
09 February 2018   455

According to the Federal Election Commission, this donation is officially the largest single Bitcoin donation ever accepted by a US politician. Austin Petersen received a donation worth 0.284 of a Bitcoin – which at the time of exchange was valued at $4,500 in US dollars. However, this Bitcoin donation represented less than 3 percent of Austin Petersen’s overall campaign donation total. The dollar, therefore, still reigns supreme in the context of party political contributions.

This case is very important and opens the debate about cryptocurrencies and political donations.

Austin Petersen’ representative stated that there will be more campaign contributions and financing of this type. Austin Petersen is a big fan of competition in the marketplace, even when it comes to US dollar. That is why it was an easy decision to use that cryptocurrency.

This case made Bitcoin a new means of increasing campaign contributions through alternative digital currency donations. However, this huge Bitcoin donation wasn’t the first campaign contribution. For example, Rand Paul, during his 2016 Presidential Campaign, accepted Bitcoin. Other congressional and Senate campaigns have also accepted Bitcoin. Jared Polis in 2014 was the first congressional campaign to accept Bitcoin.

It seems that lawmakers now are happy to accept non-government backed cryptocurrencies to help improve campaign contribution. Due to the fact that more people become crypto wealthy, this new cluster of wealth could become a well of possible future political donations for all political parties.

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   58

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.