Another US political candidate is advocating the use of Bitcoin. Instead of just accepting the crypto-currency for donations, this candidate has taken it one step further.
Alex Fidel is running for mayor in the city of Encinitas, California, a suburb of San Diego famous for its surf culture and the YMCA skate park.
He’s looking to put Encinitas on the map for another reason than sunny climes, beautiful people, beach-town vibes, and so on. He wants the Southern California coastal town to be a Bitcoin safehaven from what he terms the “conjoined twins of the Federal Reserve and the IRS.”
One of the 22-year old candidate’s main talking points is the nullification of legal tender laws by elevating the importance of the US Constitution’s Tenth Amendment.
“I would nullify legal tender laws and money exchange laws to allow individuals to engage in the currency of their choosing, whether it be gold, silver, copper, Bitcoin, voluntary exchange, or even the devaluing Federal Reserve Note dollar system for those that wish to stick with the pyramid scheme,” the candidate wrote on his Facebook page.
On a recent appearance on The Our Very Own Special Show Podcast, the candidate proposed that the income tax apply only to the US Dollar, absolving bitcoin, precious metals and other alternative currency users of paying the income tax. (That part starts at 58 minutes)
“…The Fed and IRS were both created in 1913 as one entity. The income tax should only apply to Federal Reserve Notes, so if you’re a major corporation using Federal Reserve Notes, it’s probably because you’re connected to the banks. It will be mostly small business that stop using the corporate-fascist medium. Exempting alternative currencies from the income tax would be good for employment, and the dollar would lose value. People would only have to report taxes if they use the federal reserve note.”
That’s a lot of upheaval. So what does this all mean?
“You wouldn’t be a slave to the dollar system,” the candidate says.
Bitcoin and politics might not be two things you consider to go together very well. But in the US they are two things that have been going together increasingly since Bitcoin became a thing in 2008.
The crypto-currency’s use in government all started when E-Gov Link made it possible for local governments to accept bitcoin payments for tickets, fines and other city administration.
The link between politics (or anti-politics) and Bitcoin has only grown more obvious.
The road was paved in May thanks to a unanimous vote by the Federal Election Commission to make it legal for bitcoin donations to be donated for political campaigns. Donations are capped at $100 per person, per cycle.
Alex Fidel isn’t the first candidate to accept bitcoins, even if he is the first to suggest bitcoiners pay no taxes, which is quite contrary to what Ben Lawsky wants to do in New York with proposed “BitLicenses.”
Introduced to Bitcoin four years ago while working in tech, Andrew Hemingway is now a Republican candidate for governor in New Hampshire. He is the first candidate for governor in New Hampshire history to accept bitcoin donations.
What might this added Bitcoin dimension bring to US elections at the city, state and federal levels?
“The use is as much for candidates to show they favor technology,” Jim Harper, global policy counsel for the Bitcoin Foundation, said. “The Bitcoin demographic is younger, more tech-oriented, probably more male-heavy.”
Whether or not Bitcoin plays a major role in future democratic elections has yet to be seen. Of course, the Bitcoiners are planning on this being the case.