VIDEO: Ron Paul reacts to RonPaulCoin
It’s unclear who exactly created the RonPaulCoin – the founder just lists his name as ‘Colin’ – but we do know that it’s not Ron Paul himself. As the cryptocurrency’s website explains, the politician had nothing to do with its creation and has no affiliation with it.
Rather, the coin is a form of tribute to “the leading champion of financial freedom and economic transparency for the past 30+ years,” the website writes.
Like Bitcoin, the RonPaulCoin is an open-source digital currency. Though unlike its much more popular counterpart Bitcoin, there will only ever be 2.1 million RonPaulCoins in existence. This total will be reached around the year 2145.
On their website, the creators of the coin write that “perhaps one day, he [Ron Paul] will hear of the fact that he has his own coin, and help to promote the cause of decentralized currency further.”
Well, that day has come.
In an interview with CNBC on Wednesday, the former Texas congressman talked about the RonPaulCoin.
“It’s fascinating to me,” he said.
When asked if he supported it, Paul said “yes … I have been for a long time advocating competing currencies because I’m not too high on our own currency.”
“This is a private alternative to the abuse of government,” the politician explained, while conceding that he does not understand the technology behind digital currencies.
“As long as there’s no fraud involved, I’m all in favour of competition.”
However, the former congressman also noted that he is not buying any cryptocurrencies.
See the full interview with CNBC here