Ron Paul and Bitcoin

[Possum]

If Ron Paul became the next President would this be good for Bitcoin

[Sjalq]

Yes, Dr. Paul is HIGHLY educated in Austrian economics.

He has suggested several bills that would remove the barriers that government imposes on currencies that would compete with the dollar.

[BTC_Junkie]

There were some posts on his blog (that I'm having trouble finding now) that were fairly hostile towards bitcoin, and strongly implied that bitcoin users had no idea about Austrian economics.

[hugolp]

There were some posts on his blog (that I'm having trouble finding now) that were fairly hostile towards bitcoin, and strongly implied that bitcoin users had no idea about Austrian economics.

I doubt that is true because Ive talk to a lot of paulites about Bitcoin and nobody has mention, not even the ones that did not like the idea. You are probably confusing with someone else.

[JohnDoe]

Yes, Ron Paul is a free banking advocate and has introduced bills to remove legal tender laws.

There were some posts on his blog (that I'm having trouble finding now) that were fairly hostile towards bitcoin, and strongly implied that bitcoin users had no idea about Austrian economics.

He doesn't have an official blog that I'm aware of unless you are talking about paul.house.gov, in which case I highly doubt that Bitcoin has ever been mentioned there.

[Possum]

If I was a Bitcoin. Who would I vote for..?

[TYDIRocks]

If I was a Bitcoin. Who would I vote for..?

Ron Paul

[YoYa]

This is so apt right now:

[tfeagle]

Yah...  I think that I must vote for Ron Paul.  The other Republican candidates all exhibit a loose to completely disconnected grip on reality.  Obama will almost certainly be selected as the Democratic Party candidate.  And I -really- don't want four more years of that.  If Ron Paul is elected, then we can likely expect at least a four year period of non-intervention w/r to BitCoin.  Worst case, we might see four years of benign neglect...best case, we might see BitCoin recognized as legal tender.  Also, Ron Paul opposes regulating or taxing "the internet".  BitCoin and BitCoin transactions should be viewed by his administration as being a part of "the internet" and thus something to be kept unregulated and untaxed.  It would disturb me if the IRS decided that the BitCoins I'm mining are "taxable income".  So I guess I need to go out and register as a Republican, so that I can vote for Ron Paul in the primary. 

[herzmeister]

It wouldn't be good for Bitcoin because Ron Paul would "fix" the dollar, so no reason for people to adopt Bitcoin to escape the dollar inflation. :->

[Piper67]

It wouldn't be good for Bitcoin because Ron Paul would "fix" the dollar, so no reason for people to adopt Bitcoin to escape the dollar inflation. :->

How sweet, Americans thinking who they elect president actually would make a difference 

[hugolp]

It wouldn't be good for Bitcoin because Ron Paul would "fix" the dollar, so no reason for people to adopt Bitcoin to escape the dollar inflation. :->

You have a point there. But it really depends.

If Ron Paul only manages to change a bit the direction and put some control on the dollar but without changing the monetary laws, then yes, it would be bad for Bitcoin.

BUT Ron Paul has proposed laws and has stated several times that his intention is not trying to influence the central bank system (he thinks its unworkable), but to eliminate legal tender laws and allow competition in currency. If he managed to acomplish this it would be HUGE for Bitcoin.

[FlipPro]

It wouldn't be good for Bitcoin because Ron Paul would "fix" the dollar, so no reason for people to adopt Bitcoin to escape the dollar inflation. :->

How would he "fix" the dollar? His number one plan is to crash it as soon as he gets into office.

He dosen't BELIEVE in the current system that we have now, therefore he does not believe there is a way to "fix" it other than by scraping it all and implementing some sort of Deflationary Standard like gold (or Bitcoin).

Bitcoin would be a seriously destructive way to start from scratch, but hey at-least we'll all be millionaires right? 

[herzmeister]

How sweet, Americans thinking who they elect president actually would make a difference 

I'm not American, and I was being a bit ironic. :->

And yes, I'm aware of "Let me issue and control a nation's money, and I care not who writes its laws."

[amincd]

It would likely eliminate any possibility of bitcoin or its operators coming under legal scrunity.

[hugolp]

It wouldn't be good for Bitcoin because Ron Paul would "fix" the dollar, so no reason for people to adopt Bitcoin to escape the dollar inflation. :->

How would he "fix" the dollar? His number one plan is to crash it as soon as he gets into office.

He dosen't BELIEVE in the current system that we have now, therefore he does not believe there is a way to "fix" it other than by scraping it all and implementing some sort of Deflationary Standard like gold (or Bitcoin).

Bitcoin would be a seriously destructive way to start from scratch, but hey at-least we'll all be millionaires right? 

Actually he has a non-disrubtive way of changing the monetary system and that is just removing the privileges the Federal Reserve receive from the government and allow competition of currencies. That way the change would be progressive.

[Mageant]

He has always welcomed and advocated a market of "competing currencies".
This means he would allow Bitcoin to compete with other kinds of currencies. By eliminating the Fed there would be no more monopoly on money.

[GideonGono]

Ron Paul winning will be BAD for freedom. The writing is on the wall and a major shit storm is coming no matter what policies are implemented. It's way past that point. The economy will vaporize and they'll blame the current captain of the titanic even if it were the previous ones who thought they could sail through rocks.

Best case scenario IMO is Paul wins the GOP nomination and Obama rigs the Presidential election so that people will realize that "democracy" never really existed and blame goes where it is due.

[Sjalq]

Ron Paul winning will be BAD for freedom. The writing is on the wall and a major shit storm is coming no matter what policies are implemented. It's way past that point. The economy will vaporize and they'll blame the current captain of the titanic even if it were the previous ones who thought they could sail through rocks.

Best case scenario IMO is Paul wins the GOP nomination and Obama rigs the Presidential election so that people will realize that "democracy" never really existed and blame goes where it is due.

I somewhat agree. If Ron Paul cannot remove the chains from the market in time and without massive opposition then they may very well blame him.

I don't know enough about the American legislation machine and how long it takes to implement change or in this case remove legislation. If he can simply get rid of what he wants to get rid of and implement the "opt-out" options he is suggesting within his first year, the economy will both crash and recover incredibly within 4 years.

[Mageant]

Ron Paul winning will be BAD for freedom. The writing is on the wall and a major shit storm is coming no matter what policies are implemented. It's way past that point. The economy will vaporize and they'll blame the current captain of the titanic even if it were the previous ones who thought they could sail through rocks.

Best case scenario IMO is Paul wins the GOP nomination and Obama rigs the Presidential election so that people will realize that "democracy" never really existed and blame goes where it is due.

Obama does not have the power to that, others do, but they are "going down" next year.