The debate regarding the prominence of Bitcoin [BTC] and it potentially overtaking the US Dollar in the future has become heated recently, with various personalities in the ecosystem giving their thoughts on the coin’s dominance.
Ron Paul, a former US Congressman, is one of them and created waves after he recently sat down with Bitcoin Magazine and stated that the end of the US Dollar was inevitable.
During the interview, Paul mentioned that he did not particularly understand the technical aspect of a blockchain, but was highly “fascinated” by Bitcoin, it’s market volatility and wild unpredictable price surges.
“I’m interested in what happens when the market crashes and I are interested in preserving an environment where people can have alternative ideas that might help solve the problems we have. I think that’s what bitcoin offers: an alternative. I want a free marketplace.”
When questioned about Congressman Sherman’s comments abut a ban on cryptos, Ron Paul replied that he did not have the “clout,” because he was over the top. Ron added that he felt a ban on crypto was highly unlikely.
He further said,
“He’s speaking for the deep state establishment, military people and everyone else in the banking system. He’s representing their position that “You don’t mess with the dollar.” But I don’t worry about that because the dollar is going to self-destruct.”
Ron Paul also weighed in with respect to Grayscale’s Drop gold campaign, remarking that “they were missing the whole point”. He emphasized on the point that if people started utilizing Bitcoin during a crisis, they would still use gold and not entirely dump it all.
Finally, Ron Paul added that the general consensus towards the use of Bitcoin had generally grown with time, as people gained more confidence in the digital asset. He stated that it was important that the number of Bitcoin [BTC] buyers remain consistent in the market.
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
Bitcoin breaches new resistances: In a sensational run that saw the coin surge by 15% over 24 hours, the world’s largest cryptocurrency breached the $12,000 mark, while also briefly touching the $13,000 mark, before falling again
Read more at https://bit.ly/2ZMkS10
Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
Read more at https://bit.ly/2RD2BjL
Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
Read more at https://bit.ly/2X8aA9W
Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
Read more at https://bit.ly/31MkqSa
Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
Read more at https://bit.ly/2X75DTr
Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
Read more at https://bit.ly/2X5qPJw
BitGo’s latest collaboration: Bitcoin IRA has announced that it will be teaming up with BitGo to launch crypto-retirement accounts insured for $100 million
Read more at https://bit.ly/31UvjBz
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