[2017-10-31] Ron Paul: “Government should stay out of” Bitcoin

[bbc.reporter]

Is the SEC not done with threats of banning bitcoin yet? We have not heard anything from them after their statement and guidelines on what they reckon ICOs are. Will we witness a bitcoin ban that would be worse than what we saw in China?

The speculator in me is saying that it is time to buy Monero to keep my modest wealth in crypto safe.



Two-time Republican candidate for President of the United States, and former congressman from Texas, Dr. Ron Paul, MD, explained there is “too much surveillance already on how [cryptocurrencies] are transferred, [and how] the reports have to be made by the exchanges to the IRS.”

Dr. Paul might have been referring to the IRS (Internal Revenue Service) attempt to compel popular bitcoin exchange Coinbase into handing-over names of its customers in an effort to prosecute possible tax evasion. The San Francisco-based company has refused the IRS request.

Also in the interview with Daniela Cambone, Editor-in-Chief for Canadian outlet Kitco News, Dr. Paul noted how the trend seems to be of the government waiting until something grows successful enough, and then attempts to severely restrict it or punish it. “If [bitcoin] is a really good deal and a good process,” he said, “rest assured the government will be looking at it very carefully.”

Government interest in bitcoin “makes me a little bit nervous,” he added, “people should be very cautious.”

As for currency competition, “If the people want [bitcoin] and want to use it, the government should stay out of it,” he told Ms. Cambone.

Read the whole article https://news.bitcoin.com/former-us-presidential-candidate-ron-paul-government-should-stay-out-of-bitcoin/

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[rjbtc2017]

He got a point, Government should have at least do something from the early stages of Bitcoin but not yet until it's value became bigger and then they saw the opportunity to get profit from it.  I do agree for regulations but it should not be a hard regulation like (Transactions,Records on exchanges will be acquired bny Government is too much for a regulation).

[CryptoBry]

He got a point, Government should have at least do something from the early stages of Bitcoin but not yet until it's value became bigger and then they saw the opportunity to get profit from it.  I do agree for regulations but it should not be a hard regulation like (Transactions,Records on exchanges will be acquired bny Government is too much for a regulation).

I agree on the point that if the intention of the government is just to meddle on things up and has no desire to make the cryptocurrency industry more vibrant and robust then the government should learn to just stay away. Personally, I have no problem with regulations if the purpose is to make the field fairer for all participants to play with and to stymied the many possible scammers and hackers out from the system. We know that if human nature is not reigned then it has the capacity to do some harm aside from the potential to do some good...putting up some regulations can really help but those should not stifled the whole industry otherwise it would just be a big waste of time and resources.

[reliable]

He got a point, Government should have at least do something from the early stages of Bitcoin but not yet until it's value became bigger and then they saw the opportunity to get profit from it.  I do agree for regulations but it should not be a hard regulation like (Transactions,Records on exchanges will be acquired bny Government is too much for a regulation).

This is not possible for any govt because if something is happening in their country without their regulations and their interference than they have got a problem. Every govt would like to take care of people and especially if they are investing than their money should not be taken for a scam or for any other illegal activities . Thus this needs monitoring from their side.

[Hexah]

He got a point, Government should have at least do something from the early stages of Bitcoin but not yet until it's value became bigger and then they saw the opportunity to get profit from it.  I do agree for regulations but it should not be a hard regulation like (Transactions,Records on exchanges will be acquired bny Government is too much for a regulation).

This is not possible for any govt because if something is happening in their country without their regulations and their interference than they have got a problem. Every govt would like to take care of people and especially if they are investing than their money should not be taken for a scam or for any other illegal activities . Thus this needs monitoring from their side.

Well, if government in a certain country will interfere in Bitcoin or make some regulations maybe that it's a good one though especially if the intention is really that nice. But as I can see there are really no problem regarding government interference on bitcoin because as I see just like Japan and Korea having that the government interferes to it they are as good as it was and as you say it will be good if government really could keep out this scam or illegal activities to bitcoin that damaging the reputation of bitcoin.

[acquafredda]

If I recall it well Ron Paul gif It's Happening was the most popular during the 2013 pump to $1000. However, that is not the point I want to make.
Ron Paul is saying what every bitcoiner has always said: I also believe government should stay out of bitcoin. Sometimes even us bitcoiners should stay out of it.