Ron Paul is shilling for a Bitcoin retirement fund exactly where you'd expect

[devil21]

Okay Don Quixote, please continue your quest for a gold standard, when there is near zero political, economic, or citizen support for it. Even if I thought the government would adhere to a new honest gold standard, there still isn't any measurable support for it. So, continue bitching about bitcoin for no reason. As if bitcoin has anything at all to do with the lack of a gold standard, or any of the problems currently facing the world. If a digital prison comes it won't be bitcoin, it'll be some government issued digital crap anyway.

So twirl away at the bitcoin boogeyman. 1 2 satoshis after you, 3,4 better lock your door. Boo.....

Finally! I was waiting for someone to compare me to Don Quixote! A 2007 join date doesn't remember the labels of 'quixotic' to Dr. Paul? I have become Ron. Mission accomplished.

Why are you on ronpaulforums again? Why is your name RonPaulIsGreat?

Ron Paul and Rand Paul jumped on the crypto bandwagon.. What Ron Paul taught me is competing currencies not gold bugging.

let Gold and Bitcoin compete. Try using both and decide rationally.

There is no competition since bitcoin hasn't paid for anything ever, except maybe a bag of coke on Silk Road. Speaking of, nobody wonders what the Feds may be doing with the huge amount of bitcoins they seized from Silk Road?

[Warrior_of_Freedom]

If I invested into bicoin at $1 a btc I'd be too busy living on a yacht to even type this sentence

[RonPaulIsGreat]

Finally! I was waiting for someone to compare me to Don Quixote! A 2007 join date doesn't remember the labels of 'quixotic' to Dr. Paul? I have become Ron. Mission accomplished.

Why are you on ronpaulforums again? Why is your name RonPaulIsGreat?



There is no competition since bitcoin hasn't paid for anything ever, except maybe a bag of coke on Silk Road. Speaking of, nobody wonders what the Feds may be doing with the huge amount of bitcoins they seized from Silk Road?

I'm here because I agree with most of Ron Pauls views. I don't think the gold standard will ever return though, and if it did by some miracle, I'm certain it would be corrupted as before. It's not that I'm "against" the Gold Standard as a Concept, but rather I don't trust government to adhere to anything for long, and I think I have a vast amount of evidence on my side to support that view of government.

Likely I agree with you on most positions, but completely lost causes are just not interesting at all, when there are other things to fight for that might actually make a difference.

[r3volution 3.0]

Reasonable people can disagree about the viability of privately issued, irredeemable currencies.

I won't be buying any, but I have no problem with Ron or anyone else endorsing them.

[FSP-Rebel]

There is no competition since bitcoin hasn't paid for anything ever, except maybe a bag of coke on Silk Road. Speaking of, nobody wonders what the Feds may be doing with the huge amount of bitcoins they seized from Silk Road?

Just wow, you're not even reasonable in your quest to demonize bitcoin as something other than the savior for average people away from this coming economic disaster. On one hand, the feds auctioned off the SR bitcoins to the likes of Tim Draper a few years ago. If you're still of the limited knowledge that bitcoin equals buying a bag on SR, you're so primitive that I feel so very sorry for you and what you'll be missing out on.

[devil21]

Just wow, you're not even reasonable in your quest to demonize bitcoin as something other than the savior for average people away from this coming economic disaster. On one hand, the feds auctioned off the SR bitcoins to the likes of Tim Draper a few years ago. If you're still of the limited knowledge that bitcoin equals buying a bag on SR, you're so primitive that I feel so very sorry for you and what you'll be missing out on.

Sorry, I don't see how giving up the last shred of real and further drifting from the constitutional principle of the coining of money in gold and silver resembles anything close to a "savior for the average people." It only separates people from what is real and is the nail in the coffin of the average person's ability to ever be anything more than a free laboring slave to the money powers. Don't be discouraged, however, since my commentary matters none and you will receive exactly what you are choosing.

Thanks for the update on the FBI coins. I'm sure a VC billionaire has your best interests at heart.

[ClaytonB]

Sorry, I don't see how giving up the last shred of real and further drifting from the constitutional principle of the coining of money in gold and silver resembles anything close to a "savior for the average people." It only separates people from what is real and is the nail in the coffin of the average person's ability to ever be anything more than a free laboring slave to the money powers. Don't be discouraged, however, since my commentary matters none and you will receive exactly what you are choosing.

Thanks for the update on the FBI coins. I'm sure a VC billionaire has your best interests at heart.

d21: You're entitled to your view about Bitcoin and I actually refrain from recommending Bitcoin to people who don't like tech in general (e.g. rural people, people from the older generation and/or others who are generally suspicious of technology) because the money you use should be something you understand, if not in every last detail, at least in principle. So, I don't disagree with people who are in favor of sound money (gold/silver, privately issued gold-backed notes, etc.) but don't think Bitcoin is viable.

Gold and silver cannot be whisked out of your safe in the middle of the night without someone physically breaking into the place where it is being stored and stealing it. This entails physical costs and risks for the would-be thieves and it also provides a certain level of situational-awareness to the commodity's owner - if you store some of your PMs in your house, you would know if they were stolen (because you'd hear/see it and have the opportunity to stop it from happening). This is not true of Bitcoin, of course. If someone steals your keys using malware, they can swipe your Bitcoins without leaving a single footprint and you won't have the slightest idea that it has happened until you check your Bitcoin wallet (too late!).

But there is a counterpoint to this. The kind of security offered by Bitcoin is actually superior in many respects to the security of physical commodities. A physical commodity is difficult to remove without detection but this cuts both ways - if the State takes an interest in your assets for any reason, you are now in the position of the thief, trying to spirit away your property, undetected. It is difficult or impossible to move cash or gold without being detected if you are already under surveillance from the authorities. And no matter how securely you store your physical assets, if you are overpowered (by the State or thugs), you are helpless to stop their theft. This is not true of Bitcoins. In the extreme case, you can even store your Bitcoins in the form of a password that you memorize, this is called a "brain wallet". Your Bitcoins simply cannot be stolen because there is nothing to steal. There is no battering ram strong enough to break modern cryptography.

Anyway, I've put this information here not to "persuade" anybody but, rather, to clear up the issue for any lurkers who might be on the fence about Bitcoin. The security benefits of Bitcoin over physical assets is one of the reasons that Bitcoin would retain its value even if the Fed banksters turned themselves in as the crooks they are and shut down the global central banking syndicate, freeing the market to produce gold and silver-based currencies instead.

[RonPaulIsGreat]

d21: You're entitled to your view about Bitcoin and I actually refrain from recommending Bitcoin to people who don't like tech in general (e.g. rural people, people from the older generation and/or others who are generally suspicious of technology) because the money you use should be something you understand, if not in every last detail, at least in principle. So, I don't disagree with people who are in favor of sound money (gold/silver, privately issued gold-backed notes, etc.) but don't think Bitcoin is viable.

Gold and silver cannot be whisked out of your safe in the middle of the night without someone physically breaking into the place where it is being stored and stealing it. This entails physical costs and risks for the would-be thieves and it also provides a certain level of situational-awareness to the commodity's owner - if you store some of your PMs in your house, you would know if they were stolen (because you'd hear/see it and have the opportunity to stop it from happening). This is not true of Bitcoin, of course. If someone steals your keys using malware, they can swipe your Bitcoins without leaving a single footprint and you won't have the slightest idea that it has happened until you check your Bitcoin wallet (too late!).

But there is a counterpoint to this. The kind of security offered by Bitcoin is actually superior in many respects to the security of physical commodities. A physical commodity is difficult to remove without detection but this cuts both ways - if the State takes an interest in your assets for any reason, you are now in the position of the thief, trying to spirit away your property, undetected. It is difficult or impossible to move cash or gold without being detected if you are already under surveillance from the authorities. And no matter how securely you store your physical assets, if you are overpowered (by the State or thugs), you are helpless to stop their theft. This is not true of Bitcoins. In the extreme case, you can even store your Bitcoins in the form of a password that you memorize, this is called a "brain wallet". Your Bitcoins simply cannot be stolen because there is nothing to steal. There is no battering ram strong enough to break modern cryptography.

Anyway, I've put this information here not to "persuade" anybody but, rather, to clear up the issue for any lurkers who might be on the fence about Bitcoin. The security benefits of Bitcoin over physical assets is one of the reasons that Bitcoin would retain its value even if the Fed banksters turned themselves in as the crooks they are and shut down the global central banking syndicate, freeing the market to produce gold and silver-based currencies instead.

All you need for bitcoin is a trezor, then it's immune to malware, as nothing can be installed on it remotely. IT only accept very basic known format inputs. Plus to upgrade the firmware, you must verify on the trezor device itself. even if it's plugged into a computer. I recommend anyone that has more than a trivial amount of bitcoin to get a hardware wallet. I have like 95% of my bitcoins on it.

I've not heard of anyones trezor getting remotely hacked, I don't think it's possible because of the design. There are methods that worked if the person got your trezor, they could open it up, and read the in memory chip directly off the pcb (beyond me), but they've fixed that vulnerability even now.