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Thread: [Article] Another Bitcoin alternative appears: RonPaulCoin

  1. #1

    [Article] Another Bitcoin alternative appears: RonPaulCoin

    from: http://washingtonexaminer.com/article/2541542

    Update: RPC is now trading on an exchange. Anyone with bitcoin can buy it.
    https://coinedup.com/OrderBook?market=RPC&base=BTC

    Libertarian lovers of Bitcoin have a new virtual currency to fawn over: RonPaulCoin.

    The digital currency named in honor of the popular libertarian and former member of Congress officially launched Dec. 29 and is looking for support.

    “I believe that Bitcoin and cryptocurrencies will be the closest things to truly bring about the ideas that Ron Paul stands for,” Colin Hutchings, the creator of RonPaulCoin, said.

    Hutchings, who owns an online business and runs several websites, first became interested in Bitcoin in early 2013, having been a follower of Paul and his monetary policy relating to gold. When Bitcoin exploded in popularity, Hutchings decided to make his own cryptocurrency that commemorated Paul.

    Hutchings said what drew him to cryptocurrencies was the accountability.
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    “You can account for every dollar, but you don't necessarily know who they belong to,” Hutchings said. “You just know that there are exactly as many in existence as there should be.”

    For instance, Bitcoin has an upper limit of 21 million coins, meaning only 21 million Bitcoins will be available. There are 12,189,925 Bitcoins in circulation as of this writing, with more coins to be created every four years. They will reach the 21 million mark around the year 2140.

    Once there are 21 million Bitcoins in circulation, the value of the coins will start to increase, as there will be fewer unclaimed coins.

    By contrast, there will only be 2.1 million RonPaulCoins available, making it a much rarer currency.

    “Cryptocurrencies follow certain, exact mathematical rules. Nobody can print more money on a whim with a cryptocurrency, and a certain, exact quantity will come into circulation and that will be all there ever is,” Hutchings said. “This gives cryptocurrency a scarcity, predictability and a value that the U.S. dollar and other fiat currencies fail to have.”

    Compare that to the U.S. government and its ever-increasing debt and money printing.

    RonPaulCoin is already getting some traction. It was added to the cryptocurrency exchange site CoinedUp on Friday, opening with the second-highest trading value on the market.

    RonPaulCoin, like Bitcoin and Dogecoin, already has a following on the popular social-sharing website Reddit and its own subreddit, r/ronpaulcoin. The cryptocurrency also has its own Facebook page and Twitter account.

    On the official website, ronpaulcoin.com, the first thing one sees is an image of the coin, which features Paul's face in gold with the words “in Ron we trust.” Scroll down and a video of Paul talking about Bitcoin as a possible “destroyer of the dollar” can be found.

    “Cryptographic digital currency is the future,” Hutchings said. “Cryptocurrency is to money what the Internet was to mail. We are still in the early phases of it right now.”



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  3. #2
    Quote Originally Posted by danda View Post
    from: http://washingtonexaminer.com/article/2541542

    Update: RPC is now trading on an exchange. Anyone with bitcoin can buy it.
    https://coinedup.com/OrderBook?market=RPC&base=BTC
    I love it because Doctor Paul is the Granddaddy of sound currency ... Although crypto is not sound currency, but peer to peer; at least it is not counterfeit FED money; totally useless. Even makes for bad toilet paper.

    Money is the confidence of what will place in it. I have a dollar in my hand right now; which is actually worth $.40 . If I have a crypto, it is worth what my peers say it is worth and are willing to pay.

    BTW... I have no bitcoin, but will buy RPC .. If anyone willing to let me pay with PayPal, let me know .. I have been here since 2007, so not a flight risk... have a Verified PayPal account since 1999; sooooooooooooooooooo ... someone with bits go buy some RPC, and let me buy from you )))

  4. #3
    I totally support crypto-currency given the current climate, but this is false labeling. The only way such a currency could be truly called a "Ron Paul" coin would be if its value was pegged to the current price of gold, or other precious metals/honest weights and measures. This, of course, could open it up to the weaknesses of other e-currencies (seizures of metal holdings, shutdowns of HQs, etc) that led to the development of Bitcoin et al. Whatever the case, associating a fiat currency with Ron Paul is an oxymoron.
    -----Peace & Freedom, John Clifton-----
    Blog: https://electclifton.wordpress.com/2...back-backlash/

  5. #4
    If you are calling crypto currency fiat, then you have not investigated them enough. The entire point of peer-to-peer crypto currency is that NO ONE can arbitrarily inflate or counterfeit the currency at whim (by fiat). That was THE hard problem that took 20+ years for the cypherpunk community to solve and that bitcoin finally implemented. So to my mind, calling it a fiat currency is pretty disrespectful to those who have dedicated their lives in silent toil to giving us something that is exactly the opposite of fiat. just sayin.

    Quote Originally Posted by Peace&Freedom View Post
    I totally support crypto-currency given the current climate, but this is false labeling. The only way such a currency could be truly called a "Ron Paul" coin would be if its value was pegged to the current price of gold, or other precious metals/honest weights and measures. This, of course, could open it up to the weaknesses of other e-currencies (seizures of metal holdings, shutdowns of HQs, etc) that led to the development of Bitcoin et al. Whatever the case, associating a fiat currency with Ron Paul is an oxymoron.

  6. #5
    Quote Originally Posted by danda View Post
    If you are calling crypto currency fiat, then you have not investigated them enough. The entire point of peer-to-peer crypto currency is that NO ONE can arbitrarily inflate or counterfeit the currency at whim (by fiat). That was THE hard problem that took 20+ years for the cypherpunk community to solve and that bitcoin finally implemented. So to my mind, calling it a fiat currency is pretty disrespectful to those who have dedicated their lives in silent toil to giving us something that is exactly the opposite of fiat. just sayin.
    A counterfeit or inflation-proof fiat currency is still fiat currency, until and unless its equity is based on tangible goods. Crypto currencies have solved a number of problems over their predecessor e-currencies, but mainly by severing remaining ties to tangible or centralized holdings. As we've learned painfully during the e-Gold through Liberty Reserve era, digital currency has been vulnerable precisely because its link to tangible goods could be severed, along with its operations, through freezing the assets and shutting down the site, HQ or other concrete situation.

    The essential problem is the banksters and jackboots know how to manipulate or control equity based currency about as much as it does for bankster generated fiat currency. Namely, bomb and conquer the countries not based on fiat currency or controlled by the dollar, and seize, jail and ruin any private currency trying to escape from fiat bank/gov currency. Even in the case of gold, Max Keiser has recently documented that its market price has been systematically manipulated by the PTB for the last twenty years.

    The only escape from the bank/gov fiat racket has been to develop Bitcoin and other de-centralized instruments that are free from both government/bankster enforced fiat currency, or government/bankster manipulation of tangible goods and the equity market. Crypto-currency's success in doing so does not change its nature as a fiat currency, just sayin'.
    Last edited by Peace&Freedom; 01-04-2014 at 02:56 PM.
    -----Peace & Freedom, John Clifton-----
    Blog: https://electclifton.wordpress.com/2...back-backlash/

  7. #6
    Quote Originally Posted by Peace&Freedom View Post
    A counterfeit or inflation-proof fiat currency is still fiat currency, until and unless its equity is based on tangible goods. Crypto currencies have solved a number of problems over their predecessor e-currencies, but mainly be severing remaining ties to tangible or centralized holdings. As we've learned painfully during the e-Gold through Liberty Reserve era, digital currency has been vulnerable precisely because its link to tangible goods could be severed, along with its operations, through freezing the assets and shutting down the site, HQ or other concrete situation.

    The essential problem is the banksters and jackboots know how to manipulate or control equity based currency about as much as it does for bankster generated fiat currency. Namely, bomb and conquer the countries not based on fiat currency or controlled by the dollar, and seize, jail and ruin any private currency trying to escape from fiat bank/gov currency. Even in the case of gold, Max Keiser has recently documented that its market price has been systematically manipulated by the PTB for the last twenty years.

    The only escape from the bank/gov fiat racket has been to develop Bitcoin and other de-centralized instruments that are free from both government/bankster enforced fiat currency, or government/bankster manipulation of tangible goods and the equity market. Crypto-currency's success in doing so does not change its nature as a fiat currency, just sayin'.
    I think the best way to sum up this whole argument is this...

    Gold & silver = sound money
    Bitcoin = sound currency

    It may be volatile, but both will be there. The grasp that central bankers have on the people is slowly unraveling. Metals & commodities will hitch a ride right along with it. If you want Gold & silver to kick ass, then you'll want Bitcoin to kick the bankers ass on the digital side of things. Their control of digital is what allows them to suppress metal prices all these years.

    No more.

  8. #7
    Quote Originally Posted by danda View Post
    If you are calling crypto currency fiat, then you have not investigated them enough. The entire point of peer-to-peer crypto currency is that NO ONE can arbitrarily inflate or counterfeit the currency at whim (by fiat). That was THE hard problem that took 20+ years for the cypherpunk community to solve and that bitcoin finally implemented. So to my mind, calling it a fiat currency is pretty disrespectful to those who have dedicated their lives in silent toil to giving us something that is exactly the opposite of fiat. just sayin.
    One of the great advantages to me, is if you ever decide to leave the United States you can cash in your btc most any place in the world. Silver/Gold are being confiscated at the airports by the TSA; bank accounts are being frozen for those in the US trying to leave. But they can't touch your BTC (yet)

  9. #8
    Your definition of fiat currency must be different than the common usage, or indeed any definition I have ever seen.

    And I believe you owe the inventors of cryptocurrency an apology. They have toiled away to bring we the people a viable alternative to fiat currency (by decree of authority) while apparently all you do is disparage their efforts and equate their creation with fiat.

    Not that you ever will apologize. It is readily apparent that your skull is too thick for that, since you cannot be bothered to do even basic research. Instead I can merely hope you cling to your mistaken beliefs and do not invest in any cryptocurrency, and miss the boat entirely.

    I do not usually speak in this fashion, but truly your contempt for the hard work of others angers me. I'm done addressing you, and you win the honor of being the first on my ignore list since I joined this site in 2007.

    Good day sir.



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  11. #9
    I think it's clear that 1) I said I was in total support of crypto currency, including respect for its developers, 2) digital based currency is not physical or equity based currency, which is why precious metals are prized above the intangible as a basis for money in most discussions I have heard from, and 3) it is you who have demonstrated petty inflexibility in acknowledging this basic point.

    The movement will not win the day changing the definition of fiat versus equity based currency. Ron Paul supports both gold and crypto currency, and so do both of us, so trying to push this self-serving re-definition is counterproductive. Let's major in the majors, good day sir.
    Last edited by Peace&Freedom; 01-04-2014 at 03:15 PM.
    -----Peace & Freedom, John Clifton-----
    Blog: https://electclifton.wordpress.com/2...back-backlash/

  12. #10
    PUMP
    AND
    RON
    !!!!
    FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!


    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  13. #11
    I think this is a great idea. Sooo exciting !! I just wish I could get a RPC wallet with my Android.
    "Never Miss a Good Chance to Shut up"

  14. #12
    Quote Originally Posted by MelissaCato View Post
    I think this is a great idea. Sooo exciting !! I just wish I could get a RPC wallet with my Android.
    There are a lot of people like you. I don't know your age but a new era of people have been bred who think their phones can do everything. And that is true for a lot of things. I personally can't imagine going without a computer. Even my friends are all switching to laptops which baffles me. Not having a mid to full size tower sounds so strange to me personally, heh.

    Investing in crypto-currencies means going the extra mile to get involved while it is still a nerdy thing that most still don't know about yet. Catch a trend before it possibly becomes a trend.

    You can get yourself a really cheap and tiny intel atom laptop. I think there are many that go for between $100-$200. Most importantly everyone should be investing time into learning.

    Get a feel for when to sell for BTC when the majority of people you think have piled in...lol
    Last edited by muh_roads; 01-04-2014 at 05:32 PM.

  15. #13
    Hello guys, back when bit coin started I advertised it here. I think a few members did quite well on it... regretfully I never got in then...lol. Now I see they started a RPC coin and I need a tutorial to get started..any takers? I think RPC will do very well.

    I tried to start a miner but CGminer is comand prompt and I'm not that good at this...help.

  16. #14
    For anyone new to crypto, I do not recommend trying to mine RPC. It is already at a high difficulty, and requires specialized and expensive graphics cards to get any meaningful quantity.

    Instead, there are a few things you could do:

    1) Create an account at coinedup.com and buy some. ( requires that you already hold some bitcoin )

    2) Install the ronpaulcoin software from ronpaulcoin.com to your computer, and backup the wallet file to a usb key or cdrom that you safeguard.

    3) transfer the RPC coins you bought on the exchange to your wallet running on your computer. This way you personally have possession of them, not the exchange, which could disappear at any moment.

    4) Help get RPC listed on cryptsy for higher volume. Create an account with cryptsy.com and vote at this page that they add RPC to their exchange.
    https://cryptsy.freshdesk.com/suppor...s/topics/62074

    The more people that get involved now, the more likely that someone will create an android wallet and additional software and services.

  17. #15
    Quote Originally Posted by awake View Post
    Hello guys, back when bit coin started I advertised it here. I think a few members did quite well on it... regretfully I never got in then...lol. Now I see they started a RPC coin and I need a tutorial to get started..any takers? I think RPC will do very well.

    I tried to start a miner but CGminer is comand prompt and I'm not that good at this...help.
    Whether it is worth mining any coins depends on your graphics card. Like What make and model it is.

  18. #16
    Yes, and this is the bible of scrypt hardware references:

    https://litecoin.info/Mining_hardware_comparison

    Quote Originally Posted by RonPaulIsGreat View Post
    Whether it is worth mining any coins depends on your graphics card. Like What make and model it is.



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  20. #17
    Yeah right Diane, actually that’s one of the best qualities I've seen in bitcoin. It's a global transaction with no hassle and low chargeback fees. For just a few minute/hours BTC cash transfers and deposits are possible unlike the traditional banking system where they usually process money transfer for few more days, which I really hate, BTW!

    ____________________________________________
    Bitcoin Daily- Your daily bitcoin news and update
    Last edited by cindyEvans; 01-07-2014 at 02:10 AM.

  21. #18

  22. #19
    DailyDot Article: It's happening: Here comes the Ron Paul cryptocurrency

    Retired congressman Ron Paul, known for his libertarianism, three presidential bids, and looking like a friendly grandpa, isn’t exactly a fan of the current economic system in the U.S. Paul’s political agenda centered on economic shakeups like returning to the gold standard. And even though he retired from Congress, Paul still regularly chimes in on U.S. economic policy.

    Paul’s status as the Fezziwig of Libertarianism and a high-profile supporter of alternative currencies has won him supporters in the cryptocurrency world. So the fact that there’s now a cryptocurrency called RonPaulCoin shouldn’t be too surprising. As reported by Vice, which has been impressively on the ball when it comes to identifying celebrity-themed cryptocurrencies, RonPaulCoin (or RPC) debuted on Dec. 29, and the digital currency, which uses Litecoin’s SCRYPT-based protocol, is off to a very strong start.
    read the rest here: http://www.dailydot.com/business/ron...its-happening/

  23. #20
    Quote Originally Posted by danda View Post
    DailyDot Article: It's happening: Here comes the Ron Paul cryptocurrency



    read the rest here: http://www.dailydot.com/business/ron...its-happening/
    Has anyone here been successful mining RPC?

  24. #21
    Quote Originally Posted by Dianne View Post
    Has anyone here been successful mining RPC?
    Yes, there are lots of people mining it. Net hashrate is around 1037Mh/s.

  25. #22
    RonPaulCoin gets briefly mentioned on MSNBC's "The Cycle", along with other altcoins. Being less than 2 weeks old, any media exposure is good.

    http://www.cryptoarticles.com/crypto...cryptocurrency

  26. #23
    Quote Originally Posted by amonasro View Post
    Yes, there are lots of people mining it. Net hashrate is around 1037Mh/s.
    I just read on another thread that RPC requires scrypt mining. Can that be done with an integrated video card, or would I need a separate video card for scrypt mining?

  27. #24



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