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Old 03-10-2014, 11:03 AM   #1001
eNx
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Hackers call Mt. Gox CEO a liar, say he still controls ‘stolen’ bitcoin

http://bgr.com/2014/03/10/mt-gox-fra...tions-hackers/

Quote:
Anonymous hackers on Sunday claimed to have published evidence that Mt. Gox CEO Mark Karpeles lied about the theft of more than $500 million worth of bitcoin. According to the hackers, Karpeles still controls all of the cryptocurrency he says was stolen recently in the biggest heist of bitcoin’s brief history. Mt. Gox was the world’s largest bitcoin exchange until about 850,000 bitcoin were allegedly stolen during a breach, forcing the exchange to shut down and file for bankruptcy protection. According to new claims from anonymous hackers, however, the heist never occurred and Karpeles still controls nearly 1 million bitcoin worth approximately $596 million at Monday’s exchange rate.

According to a report from Forbes, the anonymous hackers took over Karpeles’s blog and published a post supposedly exposing fraud committed by the CEO. The post was also published on Pastebin.

“It’s time that MTGOX got the bitcoin communities wrath instead of Bitcoin Community getting Goxed,” the hackers wrote. “This release would have been sooner, but in spirit of responsible disclosure and making sure all of ducks were in a row, it took a few days longer than would have liked to verify the data.”

The hackers’ note was accompanied by a file containing what they claim to be evidence of fraud. They say that they have managed to obtain various personal data belonging to Karpeles, including what they claim to be evidence that Mt. Gox’s current bitcoin balance is in fact 951,116, which would mean that the 850,000 bitcoin the exchange claimed was stolen is still in its control.

As Forbes noted, however, the evidence may in fact simply reveal remarkably poor accounting practices at Mt. Gox, a former hub for trading “Magic: The Gathering” cards, rather than fraud.
C/N: Gox still has all the coins.
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Old 03-10-2014, 11:08 AM   #1002
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Originally Posted by eNx View Post
Hackers call Mt. Gox CEO a liar, say he still controls ‘stolen’ bitcoin

http://bgr.com/2014/03/10/mt-gox-fra...tions-hackers/



C/N: Gox still has all the coins.
of course the CEO has all the coins!

The only person who "stole" the bitcoins is that jackass. And he knows he can get away with it(short of someone assassinating him). Who are victims going to call? What law says this guy can't turn off the servers and keep the coins for himself?

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Old 03-12-2014, 02:18 AM   #1003
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Is it better to cash out daily/weekly, or hold onto some coins, like doge and ltc?

I'm torn - I'm currently in a pool where I'm autoconverting to BTC daily on the noname coins, but I'm holding onto DOGE and LTC.

I don't pay for electricity where I'm mining from, but don't want to miss out on the next few crypto bubbles. I got hit in the feels hard with a "if only..." mentality when bitcoin blew up.
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Old 03-16-2014, 07:44 PM   #1004
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There's a guy on my work yammer network who posts anti-bitcoin stories all day and then replies that the writer either 'doesn't understand bitcoin' or 'doesn't know what he is talking about'. He just posted a quote from warren buffet and basically said buffet doesn't know what he's talking about.

I want to reply to him but I know he will never admit bitcoin has any faults. He thinks it's the best thing since sliced bread and is going to take over our currency system.
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Old 03-16-2014, 08:00 PM   #1005
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Hey can someone PayPal me some bitcoins
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Old 03-16-2014, 08:19 PM   #1006
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Originally Posted by markman View Post
Hey can someone PayPal me some bitcoins
only if you get me emails of people who voted for stick up my butt.
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Old 03-17-2014, 02:57 PM   #1007
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OMGHi2U

http://tribecafilm.com/stories/tff-2...s-alec-baldwin

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The Rise and Rise of Bitcoin
Directed by Nicholas Mross
(USA) – World Premiere

DATE: Wednesday, April 23
TIME: 5:30 PM
LOCATION: SVA Theater 2

What is Bitcoin? The digital currency, created by anonymous developer Satoshi Nakamoto in 2009, is heralded by some as the future of the global economy, even as it is increasingly stigmatized by volatility and implicated in online drug trafficking and money laundering. Nicholas Mross’ illuminating documentary digs deep into the origins and meteoric rise of Bitcoin through the stories of those intrepid innovators at the forefront of this developing technology.

After the Movie: Stay for a conversation with director Nicholas Mross, the film’s protagonist Dan Mross, and Charles Shrem for the most up to the minute details about the mysterious and rapidly changing world of Bitcoin.
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Old 03-21-2014, 08:14 AM   #1008
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Mt Gox magically found 200,000 Bitcoins

http://www.cnbc.com/id/101513129



What a joke.
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Old 03-21-2014, 09:19 AM   #1009
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Quote:
Originally Posted by FightingFalcon View Post
Mt Gox magically found 200,000 Bitcoins

http://www.cnbc.com/id/101513129



What a joke.
i got a good laugh out of it when i saw it too
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Old 03-21-2014, 11:54 AM   #1010
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As predicted would happen.

404 shock not found
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Old 03-21-2014, 12:11 PM   #1011
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Quote:
We believed there were no bitcoins left in old wallets, but found 199,999.99 bitcoins on March 7,”
I don't understand how their wallet works but I'm pretty sure you can run a query and find out.
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Old 03-21-2014, 01:04 PM   #1012
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left their wallet in their old pair of khakis. happens all the time. i don't see what the big fuss is about. clearly this is all legit.
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Old 03-25-2014, 06:01 PM   #1013
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IRS says bitcoins are taxable property, but not currency

Quote:
People love referring to Bitcoin as a "cryptocurrency," but the Internal Revenue Service looks at it a little differently. According to a new IRS statement, Bitcoin should be considered property, not currency. What does that mean for US Bitcoin aficionados? Quite a bit, actually.

Consider your growing stash of bitcoins. If you're the type who mines for bitcoins, the market value of what you receive counts as part of your gross income... just in time for tax season, naturally. Conducting commerce with Bitcoin may have become much trickier on the small scale, too. You have to deal with capital gains and losses for Bitcoin transactions if the value of those bitcoins fluctuates (doesn't it always?). Bloomberg explains what this means well:

"Under the ruling, purchasing a $2 cup of coffee with bitcoins bought for $1 would trigger $1 in capital gains for the coffee drinker and $2 of income for the coffee shop."

Reporting those gains and losses may not be too troublesome for big, infrequent exchanges, but businesses that deal with plenty of smaller ones could have plenty of record keeping to do. And if you're a business that (for some reason) pays employees with bitcoins, that virtual wage is subject to income tax withholding. If those employees didn't get W-2s before, voilà -- they need 'em now. Long story short, bitcoin owners: Start keeping track of everything lest the taxman take issue with your methods and come poking around.
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Old 03-25-2014, 06:12 PM   #1014
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You try and try to beat the system, but in the end it just beats you. Props, IRS.
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Old 03-25-2014, 07:07 PM   #1015
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What other 1s and 0s do they tax?
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Old 03-26-2014, 05:48 AM   #1016
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Quote:
Originally Posted by RastaMon View Post
What other 1s and 0s do they tax?
There are all sorts of non-physical properties people can own - like music, writing, computer software, for example. If you buy a song from a songwriter for $100 and then sell it to Celine Dion for $10,000 you pay capital gains tax. If you develop an app and sell it to Apple you are taxed on the proceeds.
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Old 03-27-2014, 12:43 PM   #1017
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Legit Google Play apps found to be covertly mining digital currency

http://bgr.com/2014/03/27/google-pla...-android-apps/

Quote:
In addition to Android apps sideloaded from unsecure third parties, which can contain malicious code that can turn devices into slow cryptocurrency miners, antivirus provider Trend Micro has discovered two legitimate Google Play apps that have between them over one million downloads. The firm also found that the apps can turn Android smartphones and tablets into digital currency miners without the users knowing what’s happening.

Mining for digital currency – including Bitcoin, Litecoin, Dogecoin and many others – requires lots of computing power and energy consumption. Furthermore, doing so on mobile devices that aren’t as powerful as traditional computers, or rigs especially built for crytpocurrency mining purposes, may put additional strain on them, leading to increased energy consumption and heat generation. Thus, overall performance of the handset or tablet is affected, and battery life shortened.

The Google Play Store apps that have secret mining code include Songs (installed from one million to five million times,) and Prized (installed from 10,000 to 50,000 times). Unlike malware apps available from third parties that mine for coins at all times, these two apps have been customized to only mine when the phone is charging, thus potentially eliminating any suspicions from users, at least at first. However, as time goes by, users may notice excessive heat, slower charging times and decreased performance.

The two apps are still available from the Google Play Store, and each one has a rating of 4.0 out of 5 stars from multiple reviews. Both apps are available as free downloads for devices running Android 2.2 or later, but they were not created by the same developer. Currently, they appear to be set to mine Litecoin, according to Trend Micro. It’s not known whether there are more apps in the Google Play Store that pack similar mining code.

Google has significantly improved Android security in recent years, preventing apps from running malicious code, so it’s probably only a matter of time until covert cryptocurrency mining apps will also get the boot from the official Android app store.
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Old 04-16-2014, 03:28 PM   #1018
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Official trailer released!

http://mashable.com/2014/04/16/rise-...film-festival/

Quote:
'The Rise and Rise of Bitcoin': an Exclusive First Look

They call it “digital gold," but is Bitcoin the future of money, or a shiny distraction for digital fools?

Created in 2009 by a still-unknown programmer using the alias Satoshi Nakamoto, Bitcoin is now accepted by many merchants all over the world. But for most of us, the open-source currency is still an unknown quantity.

The Rise and Rise of Bitcoin, a new documentary making its world premiere at the Tribeca Film Festival next week, tells the story of the strange currency via its pioneers. It explains the “Bitcoin mining” market, and explores the many shadowy subcultures within the Bitcoin community.

The stars of this financial frontier include Daniel Mross, a 35-year old Pittsburgh programmer who became obsessed with Bitcoin in 2011, and happens to be the elder brother of Nicholas Mross, who made the documentary.

The film premieres next Wednesday at 5:30 p.m. at SVA Theater 2 in New York, N.Y., followed by a Q&A with the Mross brothers. Check out the first trailer above, which the filmmakers shared exclusively with Mashable.
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Old 04-29-2014, 05:11 PM   #1019
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Mt. Gox settles class-action lawsuit by turning customer creditors into owners

More good news for those who entrusted Bitcoin exchange Mt. Gox with their cryptocurrency. After filing for bankruptcy earlier this year, Mt. Gox found some 200,000 Bitcoins last month, and today it has tentatively settled its class-action lawsuit in the US. In exchange for dropping the case, customers will become part owners in the new Mt. Gox -- a group of investors is set to purchase and revive the failed exchange -- to the tune of 16.5 percent. Additionally, class members get to split up those rediscovered Bitcoins and another $20 million currently being held by Mt. Gox's bankruptcy administrator. The settlement, naturally, is contingent upon both the US court agreeing to the terms and a Japanese bankruptcy court approving the deal for Mt. Gox's sale. And, bear in mind that US beneficiaries of the settlement don't get priority over anyone else, nor do they get the full ownership stake in the new Mt. Gox. The settlement terms would apply to creditors throughout the world, and the benefits of the deal will be shared equally amongst them.

Mt. Gox is dead. Long live Mt. Gox.
http://www.engadget.com/2014/04/29/m...tomer-credito/
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Old 04-30-2014, 11:44 AM   #1020
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I nee dis

Quote:
‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever

Government regulators around the world have spent the last year scrambling to prevent bitcoin from becoming the currency of choice for money launderers and black marketeers. Now their worst fears may be about to materialize in a single piece of software.

On Thursday, a collective of politically radical coders that calls itself unSystem plans to release the first version of Dark Wallet: a bitcoin application designed to protect its users’ identities far more strongly than the partial privacy protections bitcoin offers in its current form. If the program works as promised, it could neuter impending bitcoin regulations that seek to tie individuals’ identities to bitcoin ownership. By encrypting and mixing together its users’ payments, Dark Wallet seeks to enable practically untraceable flows of money online that add new fuel to the Web’s burgeoning black markets.

“This is a way of using bitcoin that mocks every attempt to sprinkle it with regulation,” says Cody Wilson, one of Dark Wallet’s two 26-year-old organizers. “It’s a way to say to the government ‘You’ve set yourself up to regulate bitcoin. Regulate this.’”

Here’s a teaser video the group posted earlier last week ahead of the software’s release:

http://www.youtube.com/watch?v=6VFopiRaXwQ

Dark Wallet was conceived last summer by Wilson and Amir Taaki. Wilson first gained notoriety by creating the world’s first entirely 3D-printed gun; Taaki is an Iranian-British free-market anarchist and developer of high-profile bitcoin projects like the decentralized online marketplace prototype DarkMarket. Together they launched a crowdfunding campaign on Indiegogo in October that raised $50,000, along with tens of thousands more in bitcoin. The accompanying video promised what Wilson described as “a line in the sand” in the struggle over bitcoin’s political future. At a debate at New York’s Museum of Modern Art in March, Wilson described his intentions for Dark Wallet more directly: “It’s just money laundering software.”

Despite those provocations, financial regulators have kept mum about the project. The New York Department of Financial Services, which held hearings about bitcoin in January and says it plans to create a “bitlicense” for some bitcoin-based businesses, didn’t respond to a request for comment. In a statement to WIRED, the Financial Crimes Enforcement Network wrote only that it’s “well aware of the many emerging technological efforts designed to subvert financial transparency. It’s certainly our business to be interested and vigilant with respect to any activities that may assist money laundering and other financial crimes.”

Wilson’s and Taaki’s money-laundering app is politically incendiary, but it’s not necessarily illegal, and they argue that the code is protected by First Amendment safeguards on free speech. But Wilson states plainly that he intends Dark Wallet to be used for anonymous online black markets like the Silk Road, the bitcoin-based drug bazaar seized by the FBI in October. “I want a private means for black market transactions,” says Wilson, “whether they’re for non-prescribed medical inhalers, MDMA for drug enthusiasts, or weapons.”

Nor does he deny that Dark Wallet might enable heinous crimes like child pornography, murder-for-hire, and terrorism. “Well, yes, bad things are going to happen on these marketplaces,” Wilson says. “Liberty is a dangerous thing.”

But as dangerous as Wilson’s vision may be, Dark Wallet also fills a real need for privacy in the bitcoin economy. Despite its reputation as an anonymous currency, bitcoin transactions are in some ways nakedly public–even more so than those made with traditional money. Every bitcoin payment is recorded in the public ledger known as the blockchain, copied to thousands of users’ computers and checked to prevent forgery and fraud in the Bitcoin network. If bitcoiners don’t take special pains to anonymize their coins, all of their spending can potentially be traced back to their bitcoin addresses by any corporation or government agency that cares to look.



Dark Wallet avoids those privacy and trust problems by integrating laundering by default into every payment its users make. Its central tool is a technique called CoinJoin: Every time a user spends bitcoins, his or her transaction is combined with that of another user chosen at random who’s making a payment around the same time. If, say, Alice is buying alpaca socks from an online sock seller and Bob is buying LSD on the Silk Road, Dark Wallet will combine their transactions so that the blockchain records only a single movement of funds. The bitcoins simultaneously leave Alice’s and Bob’s addresses and are paid to the sock seller and the Silk Road. The negotiation of that multi-party transaction is encrypted, so no eavesdropper on the network can easily determine whose coins went where. To mix their coins further, users can also run CoinJoin on their bitcoins when they’re not making a real payment, instead sending them to another address they own.

One bitcoin privacy issue CoinJoin solves relates to what are known as “change addresses.” When bitcoins from any single address are spent, the unspent fraction of coins are sent back to a change address that the spender controls. Future transactions from that change address can be tied to the same user. But with each successive CoinJoin transaction, the coins are mixed with another new user’s payment, and the likelihood of guessing which change address belongs to which user is cut in half again. “When you start to join transactions, it muddles them,” says Taaki. “As you start to go down the chain, you can only be 50 percent sure the coins belong to any one person, then 25 percent, then one out of eight and then one out of sixteen. The conditional probability drops very fast.”



To protect the identity of the user receiving coins instead of spending them, Dark Wallet offers a different technique known as a stealth address. Any user can ask Dark Wallet to generate a stealth address along with a secret key and then publish the stealth address online as his or her bitcoin receiving address. When another Dark Wallet user sends payment to that address, Dark Wallet is programmed to instead send the coins to another address that represents a random encryption of the stealth address. The recipient’s Dark Wallet client then scans the blockchain for any address it can decrypt with the user’s secret key, finds the stealth payment, and claims it for the user. “The important thing is that when someone pastes your stealth address into [blockchain search tool] blockchain.info, absolutely nothing shows up,” says Peter Todd, a bitcoin consultant who advised Dark Wallet on the stealth address feature. “The payment is entirely hidden.”

Dark Wallet’s developers admit it’s still at an early stage, and that, like any cryptography project, it will only prove itself and patch its bugs over time. Taaki says, for instance, that the software will eventually combine more than two users’ payments in every CoinJoin transaction, and also integrate the anonymity software Tor to better protect users’ IP addresses. In its current form, Taaki says Dark Wallet protects IPs only by obscuring them behind the server that negotiates CoinJoin transactions, which may still leave users vulnerable to identification by sophisticated traffic analysis. “It’s not foolproof, but it’s a strong tool,” says Taaki. “And it’s going to get better.”

In the meantime, the group isn’t shying from a confrontation with regulators. Even its name is chosen specifically to reference the FBI’s repeated warnings about the Internet “going dark“–that encryption tools could effectively turn off law enforcement’s ability to surveil criminal and terrorist suspects online.

“Dark Wallet is a way to reify that nightmare and give it back to them,” says Wilson. “There is a ‘go dark’ problem, and we’re going to have it with bitcoin. That’s what bitcoin is for. That’s what we want to see.”
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Old 05-06-2014, 03:33 AM   #1021
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The scrypt pools are nearly .003 profitability, unless you're leasing. I've been looking around craigslist, and the GPUs are getting cheap, if say, you don't pay for power.



Some of the better deals are pushing 5kh hash/$ (say, 500kh/100 bucks) and there are a LOT of rigs for sale.

Lots of people getting out of mining due to low returns and high power, so grab up what you can if you don't have the power expense. I'm looking at some cards/rigs that are 2-3mo ROI.

Late game risk, yeah, but there's still X11 and whatever the next algos that popup will provide once the scrypt asics really take over.
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Old 05-06-2014, 08:48 AM   #1022
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I shut mine down the other day because I am moving and don't see much profitability any more. I have a little over .3 btc left to play with trading but nothing substantial.
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Old 05-08-2014, 01:30 AM   #1023
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I'm picking up a rig tomorrow from craigslist for $500.

1 X MSI Radeon R9 280X GPU
1 X Sapphire Radeon R9 280X GPU
1 X MSI Radeon 7950 GPU
1 X Sapphire Radeon 5870 GPU

The cards alone would sell for $600 if parted out, but it's a custom open air frame rig with cpu/ps/etc, ready to roll. I figure I'll at least get a few months at $80-90 mining, then resell if the next algorithm for GPUs hasn't surfaced.

Leasing rigs is still at ~.005 BTC/Mh/day, so I'm basing figures on a crappy .003 for 6 months or so.
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Old 05-09-2014, 12:36 PM   #1024
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Rastamon for president!

Quote:
Bitcoin is now approved for political donations

If your local politician starts soliciting donations in Bitcoins, don't be surprised: the US Federal Election Commission just approved the cryptocurrency for political contributions. Now, politicians and political action committees (PACs) can accept Bitcoin, so long as donors list their names, addresses, occupations and confirm that they own the coins they're sending over. Recipients can't spend those contributions as Bitcoin, though: they first have to convert the money into US dollars and then deposit everything with the rest of their campaign funds. If the cryptocurrency donations aren't instantly converted through a payment service, the recipients will have to declare their value based on the day's exchange rates... and we all know how quickly those rates can fluctuate.

Wondering why the FEC considered recognizing Bitcoin donations in the first place? That's because it was specifically requested by a PAC called Make Your Laws. The FEC's yet to iron out the details, though, and while one commissioner claims there's a $100 limit per donor per election, Chairman Lee Goodman says otherwise. The FEC head says the group actually classifies Bitcoins as in-kind donations, similar to works of art. If that's indeed the case, you can spend up to $2,600 per politician and up to $5,000 per PAC of your choice for every election instead of just a hundred bucks.
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Old 05-09-2014, 12:38 PM   #1025
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Rastamon for president!
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