51% Attack? Bitcoin Wins Ron Paul Investor Poll [Again]
Former congressman and presidential candidate Ron Paul enjoys a wide fanbase on social media and among latter generations who have an interest in pro-liberty changes to governmental policy. He is famed for his positions on issues ranging from abortion and marijuana to business regulation, and he famously authored a book which aligns with the philosophy of many Bitcoiners: “End the Fed.”
Paul recently conducted a survey on Twitter which questioned his followers on which currency they would want to hold over a 10-year period. At the time of writing, gold (XAU) and federal reserve notes (USD) had attained only 40% of the more than 80,000 votes counted. Bitcoin, on the other hand, was at a handy 51%.
Paul previously conducted the same survey last December, and at the end of it, more than 10,000 fewer people had responded, at that time earning Bitcoin a win of 54% total.
Paul, incidentally, understands the significance of the Bitcoin revolution but still believes that “tangible” assets, e.g., something you can hold in your hand, are always going to be the dominant and most important asset for daily transactions, as demonstrated in this video from around the time of last year’s poll.
The advent of cashless societies still hasn’t fully made itself present to great minds like Ron Paul’s. It seems unlikely that cash will be a dominant (if existent at all) mode of transfer in the near-to-mid future. As such, and at such a time, Bitcoin and other cryptos will actually be much more “tangible” in terms of users having full control of them as opposed to being even more at the whim of central banks and their counterpart counterfeiters.
For his part, Ron Paul has softened his stance on cryptocurrencies, recently calling for a tax-free zone in the US for cryptos and supporting currencies domestically competing with the dollar (e.g., gold-backed currencies or Bitcoin). Cryptocurrencies, which are free of the central planning and other controversial features that fiat currencies issued by governments saddled with debt are associated with, fall very accurately in line with Ron Paul’s philosophies, which promote private enterprise, innovation, and free association.
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