Former member of the United States House of Representatives Ron Paul stated that he wants to legitimize the dollars competitors like Bitcoin and choose a currency used by the people, not the government. Freedom of choice will solve the problem, he said.

In a recent interview, Ron Paul acknowledged that he researched Bitcoin as an alternative asset. He also spoke about the Ron Paul Liberty Report, created in 2015 by the Texas Congressman to provide provocative opinions and analysis on current issues affecting our lives and finances.

When asked about the acceptance of Bitcoin, Paul said that he knows more cases of precious metals being used as money than cryptocurrencies. I was fascinated with it for a long time. But I am also fascinated with what is coming, he said.

People should have as much freedom as possible to choose, he added. He later outlined the bill he presented to Congress to not only audit the Fed, but also to get rid of legal tender laws.

He explained that the current government would not allow Bitcoin to compete with the dollar domestically. My goal is to legalize competition and people will solve it. Freedom of choice will fix it. My concern is that governments for centuries have been very eager to be in control of money. Trust me, they wont give up control of the money.

He was asked what he meant when he said that competition should be legalized. Right now, if you buy and sell gold, tax it, they can do that, he replied. He also pointed out that if you make a profit on Bitcoin, you read stories about people paying taxes on it. You cannot tax money. If you bought a dollar a year ago and it falls 10%, you cannot take a loss because your dollar has lost value, he replied.

Recently, he also recognized that some people are very passionate about Bitcoin and see it as the only currency that can replace the dollar. But in his opinion the dollar will hold, but it wont be worth much.

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Cryptocurrency : Ron Paul on Bitcoin: It should be legalized as money and compete with the dollar Explica .co - Explica