Altcoin News: BTC Donations for US Presidential Candidate Will Be Collected Using Lightning Network

July 25, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

About a dozen supporters of Bitcoin, supporting US presidential candidate in the 2020 election, Andrew Yang, on Thursday launched a cryptocurrency-friendly political action committee called the Humanity Forward Fund (Humanity FWD), CoinDesk writes.

Thanks to the OpenNode payment service, the committee will be able to accept Bitcoin donations from LN 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,” said OpenNode CEO Afnan Rahman. “It allows the donors to have all of the amount go toward the actual donation rather than miner fees.”

Within 21 days after opening, Humanity FWD will accept donations exclusively in Bitcoins and then will implement support for Fiat. The organizers of the committee have not yet decided whether they will store Bitcoins or immediately convert them to fiat currency.

According to them, the possible profits and losses from fluctuations of the Bitcoin rate entail additional regulatory difficulties. The committee will have to fix rate changes for each cryptocurrency transaction.

Yang has already established himself as a candidate open for cryptocurrency space. Earlier, he said that one of the points of his program would be the creation of accessible leadership in the world of digital assets so that business and individuals can invest in this area and develop it without fear of regulatory changes.

Author: Marko Vidrih