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| July 16, 2018

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Woodchucks Ate Paul Ryan’s SUV

July 13, 2018 |

Paul Ryan is planning to buy a new car when he leaves office in January—partly because he will no longer be driven around by a security detail, and partly because a family of woodchucks ate his old one. The House speaker told an Economic Club of Washington event Thursday…
Newser

TMZ

Paul George Didn’t Want to Play In Kobe’s Shadow, Says YG

July 5, 2018 |

They’ve partied together … they’re fans of each other … and now rapper YG says he knows why Paul George ultimately decided NOT to sign with the Los Angeles Lakers — Kobe Bryant.  It’s not a personal thing … YG says PG knows the…

TMZ.com

Paul Newman was determined to help veterans in need, says close friend

July 4, 2018 |

Paul Newman may still be celebrated as one of most iconic movie stars of the 20th century, but one of the actor’s proudest achievements was helping others when cameras weren’t rolling.
FOX News

Paul Krugman Trolls Ripple, Accidentally Making a Case for Bitcoin Cash

July 4, 2018 |

Paul Krugman Trolls Ripple, Accidentally Making a Case for Bitcoin Cash

“If a digital currency isn’t actually used for any transactions, is it, you know, actually a currency?” tweeted Nobel laureate economist with the ears of American progressive politicians, Paul Krugman. He was prompted by a colleague’s recent article regarding a push by Ripple’s XRP to urge users to do more than just speculate. Mr. Krugman, it turns out, backed into one of the main arguments for bitcoin cash (BCH).

Also read: 27% of England’s Male Millennials Say Bitcoin Better Investment Than Property

Paul Krugman Trolls Ripple, BTC

Useless. Evil. Antisocial. Worthless. Impractical. Bubble. Fraud. Those are the kinder adjectives the preeminent US court US economist, with exclusive access to freer world leaders, has used to describe the cryptocurrency phenomenon. He’s also maniacally cheered bitcoin core (BTC) price haircuts, tacitly approving investors being wiped out and worse. More recently, he took to Twitter yet again to troll XRP and BTC enthusiasts, chiding, “If a digital currency isn’t actually used for any transactions, is it, you know, actually a currency?”

Mr. Krugman, interestingly enough, backed into a main argument for bitcoin cash (BCH), at least as proponents see things. He made no mention of the fourth largest decentralized currency by market capitalization, but the bitcoin cash gang maintains that for a cryptocurrency to be a currency in any meaningful sense it must be used. Otherwise, it’s just an exercise in greater fool game theory.

Paul Krugman Trolls Ripple, Accidentally Making a Case for Bitcoin Cash

Mr. Krugman’s snide, smug take has to do with Nathaniel Popper’s, “Here’s Some Cryptocurrency. Now Please Use It,” published in The New York Times this week. Mr. Popper examines Ripple’s recent press barrage, shoving its XRP in front of mainstream audiences from Los Angeles (Ellen DeGeneres) to New York (Stephen Colbert), which have hosted giveaways totaling more than $ 30 million … and just for those two shows, mind you.

“Now comes the hard part,” Mr. Popper explained, “persuading people to use XRP for something other than speculative trading. It is an issue facing most of the still-young cryptocurrency industry. Digital tokens like bitcoin and its many imitators (like XRP) were designed to make electronic transactions of all sorts easier. But today almost no transactions are happening, other than on virtual currency exchanges where people bet on their price.”

Cash Flush, Business Light

It’s an all-out push by Ripple, including getting perpetually inebriated rapper Snoop Dogg to host after parties. They’ve even forked over $ 300 million to grease the wheels of getting businesses to use XRP. They’re looking to lure developers. This desperation has its own term, “cash flush, business light.”

Store of value arguments have held the day, and so most enthusiasts do hold their positions rather than use, at least as it concerns XRP and the world’s most popular cryptocurrency, BTC. Mr. Popper notes how many “people who bought the digital tokens created by these projects did so in the belief they will one day be useful for real transactions of some sort. If the projects want to keep those investors from selling, the projects have to convince them the tokens will have some long-term value.”

Paul Krugman Trolls Ripple, Accidentally Making a Case for Bitcoin Cash

For XRP the campaign to get users to see it as a functional currency might be less than a philosophical harkening back to crypto’s rebellious roots. Projects like it are in grave danger of being legally relegated to securities, meaning “they will be subject to restrictions on trading and movement, making it even less likely that people will use the tokens for their intended purposes,” Mr. Popper insists, something Ripple executives are keen to avoid at all cost. They’ve gone to great pains to separate Ripple the company from the currency XRP, with an obvious irony, “Its efforts to promote XRP could demonstrate how reliant XRP is on Ripple.”

In any event, the crypto community has at least one example of a currency gaining adoption and medium of exchange use case. Seemingly daily, an innovation or re-adoption of a previous concept long abandoned by bitcoin core as it veered off into settlement layer/digital gold land is implemented, resurrected, as bitcoin cash is, you know, actually a currency.

Does Paul Krugman have a point? Let us know in the comments section below. 


Images via the Pixabay, Twitter.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from Bitcoin.com.

The post Paul Krugman Trolls Ripple, Accidentally Making a Case for Bitcoin Cash appeared first on Bitcoin News.

Bitcoin News

‘Cryptocurrencies and Precious Metals Can Co-Exist,’ Explains Ron Paul

July 2, 2018 |

'Cryptocurrencies and Precious Metals Can Co-Exist,' Explains Ron Paul

Just recently the notorious libertarian and Austrian economist, Ron Paul, released a paper that discusses the world’s issues with central economic planning. In the report, Paul goes into vast detail on how precious metals and cryptocurrencies can co-exist in order to prevent current market monopolies from “rigging the economy.”

Also Read: US Authorities Seize Over $ 20M in Crypto in Massive Darknet Crackdown

Ron Paul: “Ultimately, the Market Proves More Powerful Than Government Manipulation of Economic Events”

Ron Paul is a very popular libertarian that ran for the U.S. presidency a few times, but he has always proposed some contrarian opinions unlike any other politician today. For instance, Paul constantly tells the American public that they should “end the Federal Reserve,” or at the very least audit the private bank and find out how it has been operating over the years. Furthermore, Paul fundamentally believes our money should revert back to the ‘Gold Standard,’ and feels it is “a fallacy to believe the U.S. has a free market economy.” Paul’s unique libertarian teachings have inspired a great number of people to embrace free-market economics and question the current way governments operate.

In Paul’s latest paper, The Dollar Dilemma, he details just how bad the monetary system is today, and explains how precious metals and cryptocurrencies can co-exist to help fight against the decaying global economy.   

“The economy is run by a conglomerate of individuals and special interests, in and out of government, including the ‘Deep State,’ which controls central economic planning,” explains Paul’s paper.

Rigging the economy is required to prevent market forces from demanding a halt to the mistakes that planners continuously make — This deceptive policy can last only for a limited time — Ultimately, the market proves more powerful than government manipulation of economic events.

'Cryptocurrencies and Precious Metals Can Co-Exist,' Explains Ron Paul

Cryptocurrencies & Gold: A Combination of the Old and New Monetary Practices

Paul further asks whether or not precious metals will serve as a better system for the future or if it will be the concept of cryptocurrencies. He believes the proper way to assess the situation is to make certain that “free people in the marketplace make the choice whether the use cryptos, absent the dictates of government and central banks.” Paul emphasizes the process “requires the rejection of the use of force and fraud for any chance of achieving success.” In order for cryptocurrencies to challenge the history of precious metal acceptance it will take a “significant amount of time to reach consensus,” explains the former U.S. senator.

“The marketplace is quite capable of sorting out the advantages and disadvantages of cryptocurrencies and precious metals. The biggest challenge will be to get the government out of the way to allow this choice,” Pauls paper details. “It’s conceivable that cryptocurrencies, using blockchain technology, and a gold standard could exist together, rather than posing an either-or choice  Different currencies may be used for certain transactions for efficiency reasons.”

The desire for storage and speed can make a difference in choosing a currency. It appears that decentralized ledger technology will also be useful outside the sphere of digital currencies. A combination of gold and crypto will prove to be a lot more achievable than getting people to adapt to a totally new concept of money.

“A Modern Day Currency Needs an Enlightened Attitude About What the Proper Role for Government Ought to Be in a Civil Society”

The paper further states that each type of money may serve different needs and cryptocurrencies may be able to help with privacy, especially when it involves larger transactions and settlement across greater distances. Paul says the biggest challenge right now for digital currencies is satisfying the prerequisites of a ‘standard unit of account.’ In Paul’s view, a workable currency must keep the public confident and the monetary unit needs to be easily exchanged and hold reliable “real value.”

'Cryptocurrencies and Precious Metals Can Co-Exist,' Explains Ron Paul

“For society to advance to the point of accepting a truly denationalized monetary system, a significant amount of energy will be required to rein in the power of government authoritarians — A modern-day currency needs an enlightened attitude about what the proper role for government ought to be in a civil society,” Paul’s paper reveals. “We can use technical science for advancing civilization, but no one can ‘own’ it — As valuable as wheel technology was, no one ever bought and sold this technology as a piece of property.”

The question that can only be answered by the marketplace is whether or not blockchain technology is just another great scientific breakthrough, or can it, in combination with cryptography, become a functional currency? The basic question boils down to this: Do all new currencies need to be based on something tangible?

The full transcript of Ron Paul’s paper The Dollar Dilemma can be found here on Mises.org.

What do you think about Ron Paul’s latest paper about precious metals and cryptocurrencies co-existing while the dollar self-destructs? Do you agree with Paul’s views on money and cryptocurrencies? Let us know your thoughts on this subject in the comment section below.


Images via Pixabay, Sean Gallup/Getty Images, and Wiki Commons. 


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post ‘Cryptocurrencies and Precious Metals Can Co-Exist,’ Explains Ron Paul appeared first on Bitcoin News.

Bitcoin News

Saga of Rand Paul and Neighbor Who Tackled Him Continues

June 29, 2018 |

The weird story of Rand Paul and the neighbor who attacked him continues: The senator filed a civil suit against neighbor Rene Boucher last week, and on Wednesday Boucher responded by filing a counter-suit against Paul, WBKO reports. Paul’s lawsuit claims he was “deprived of his enjoyment of life” and…
Newser

TMZ

Pantera Drummer Vinnie Paul to Be Buried in KISS Casket Just Like Brother Darrell

June 28, 2018 |

Pantera drummer Vinnie Paul is going to be laid to rest in his forever hardware, identical to that of his late bandmate and brother … courtesy of none other than Gene Simmons and Paul Stanley. Sources close to Vinnie’s family tell TMZ that…

TMZ.com

Paul Ryan’s Father’s Day Video Does Not Go Over Well

June 17, 2018 |

Republicans celebrating Father’s Day in the era of separating migrant families , beware the wrath of liberals: Paul Ryan took to Twitter on Saturday to post a video called “How Becoming a Father Changed My Life,” with a caption that read, “My life changed the day I became a father. Liza,…
Newser

TMZ

Logan Paul and KSI Go Face-to-Face at Super Fight News Conference (Live Stream)

June 16, 2018 |

Logan Paul and KSI are officially going full Mayweather vs. McGregor today in L.A. … and TMZ is live streaming so you won’t miss a single insult from the bros as they promote their upcoming bout. The YouTube superstars will be taking shots at…

TMZ.com

Paul Ryan Contradicts Trump on FBI Informant Issue

June 6, 2018 |

House Speaker Paul Ryan is agreeing with another senior House Republican who says there’s no evidence that the FBI planted a “spy” in Donald Trump’s 2016 campaign. The comments contradict the president, who has insisted the agency planted a “spy for political reasons and to help Crooked Hillary win.” Both…
Newser