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Former Congressman Ron Paul believes that cryptocurrency should get legalized and the government should give freedom to the people to decide whether they want to use dollars or bitcoin. He stresses upon the use of bitcoin as the main currency and feels that the dollar would lose its worth in the future.
Author, Physician, analyst and a former U.S. congressman Ron Paul is a true believer in cryptocurrency and argues that the government should give freedom to the people of the country to decide which currency they want to use, Dollar or Bitcoin. He feels that the dollar should have a fierce competition and that it should be legalized as well.
He further elaborated that let the people decide which asset they would want to continue to use in future. He is the former presidential candidate. While in an interview with Michelle Makori recently, Paul discussed bitcoin as an alternative asset.
He had in 2015 launched the The Ron Paul Liberty Report which talks about the opinions and analysis of the breaking issues affecting people’s lives and finances. While he was a supporter of cryptocurrency, he knows much more about precious metals being money than cryptocurrency. He confessed that he was very fascinated by it for a long time. But he is also fascinated with what is coming in the future.
Freedom to choose Vs Government Intentions
He stresses upon the freedom of choice for the people so that they can choose according to their wishes. He had talked about a bill that he had introduced in Congress that talks about auditing not only the Fed but also to get rid of the legal tender laws.
He is certain that currently, the government is hesitant and will not allow anything to compete with the dollar on the national level. He further elaborated that ultimately his goal is to legalize the competition and the people will sort it out. Nonetheless, he also very certain that the government will not likely to loose the control over the money, which the government has been doing from centuries. It will not be easy for the government to give up control of money.
Ask him about the legalization of the competition and pat comes the reply, currently, if someone buys and sells gold, a tax has to be paid, this has to be done. If someone makes a profit in bitcoin, people have to pay the tax on the earnings. If a dollar was bought a year ago, it went down to 10%.
Dollar will lose its worth
Since Paul is the Bitcoin enthusiast, he will be participating at the Bitcoin 2021 Conference where he will argue more on the legalization of freedom of choice, and the people should make decisions and not the government. He also believed that there are some people who are very optimistic about Bitcoin and feel that this is the only money that will exist. It will replace the dollar.
However, he thinks otherwise and feels that the dollar will stay around but might lose its worth. But with the legal tender laws, it will be difficult to replace dollars with cryptocurrency. He is convinced that the main issue is not the technicality of the gold standards or crypto but the issue is dependency on the government and less concern about personal liberty. Property rights and the contract rights are the one, on which people should make their focus.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
