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The Center itself is still in something of a planning stage, existing more as a statement about Bitcoin itself, though it plans on hosting a hackathon later this month. Stockman, a vocal opponent of Fed policy, told Business Insider last night that he wants to promote Bitcoin, whose most fervent evangelists tout as an alternative to fiat currency. To do so, he is now accepting Bitcoin for his Senate campaign against incumbent John Cornyn.
Stockman with Nick Spanos, founder of the Bitcoin Center. The Bit Pages. Insider logo The word "Insider". Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Loading Something is loading. The bill currently is a draft, a mere one page, directing the IRS to treat bitcoin as currency for tax purposes.
Of course, the goal of the bill isn't necessarily to get Congress to codify bitcoin into law. Stockman, an aficionado who accepted bitcoin donations for his reelection campaign, is looking to get a conversation going on the topic. To him, bitcoin is not a commodity, but a currency. Stockman concedes to one major problem: There is still much debate, even at the conference, about what bitcoin actually is. He suggested we go into the conference and ask 10 different people, much like he did.
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