This could be the first time the Lightning Network, a bitcoin scaling solution, officially impacts the U.S. presidential election.
Roughly a dozen bitcoiners who support Democratic presidential candidate Andrew Yang launched a crypto-friendly super PAC on Thursday, Humanity Forward Fund (Humanity FWD). Thanks to the PAC’s payment processor, OpenNode, the entity will be able to accept payments from lightning wallets.
“The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity,” OpenNode CEO Afnan Rahman told CoinDesk. “It allows the donors to have all of the amount go toward the actual donation rather than miner fees.”
Humanity FWD will only accept bitcoin donations for the first 21 days, according to founder Seth Cohen. After that, fiat donations will also be accepted. He said the group hasn’t decided whether the PAC will hold bitcoin or immediately convert to fiat.
“Potentially earning or losing money creates additional regulatory requirements,” Cohen told CoinDesk about the challenge of managing bitcoin donations. It would mandate the PAC keep records of bitcoin’s volatility for each donation. Read More at CoinDesk...