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Rand Paul Suggests Backing Bitcoin With Stocks
SonicSpike writes:
"In a recent interview, Senator Rand Paul said there's one thing he would change about Bitcoin: it should be backed by something with intrinsic value, like stocks. He said, 'I was looking more at it until that recent thing [sic]. And actually my theory, if I were setting it up, I'd make it exchangeable for stock. And then it'd have real value. And I'd have it pegged, and I'd have a basket of 10 big retailers I think it would work, but I think, because I'm sort of a believer in currency having value, if you're going to create a currency, have it backed up by — you know, Hayek used to talk about a basket of commodities? You could have a basket of stocks, and have some exchangeability, because it's hard for people like me who are a bit tangible. But you could have an average of stocks, I'm wondering if that's the next permutation.'"
Nothing has "intrinsic value". Stuff is worth stuff to people depending on what they are prepared to pay for it.
Watch this Heartland Institute video
To whomever modded the AC troll: you're fucking ignorant.
Colored coins are a method to track the origin of bitcoins, so that a certain set of coins can be set aside and conserved, allowing a party to acknowledge them in various ways. Such coins can be used to represent arbitrary digital tokens, such as stocks, bonds, smart property and so on
Source.
Really, if you don't know about the subject, what about you refrain from moderating?
`echo $[0x853204FA81]|tr 0-9 ionbsdeaml`@gmail.com
He's also a failed optometrist.
I think you're confusing him with his father Ron Paul. They're both wacko libertarians. But the son is rather less intelligent than the father.