Former U.S. Congressman and presidential candidate Ron Paul recently took to Twitter to ask his followers a crypto-slanted economic question. In a poll, the noted critic of the Federal Reserve asked what store of value people would accept a $10,000 gift in if they were not able to touch it for a decade.
A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift. But there’s a catch: You must keep the gift in the form that you choose for 10 years without touching it. In which form would you accept the gift?— Ron Paul (@RonPaul) November 15, 2018
50% of the 94,894 voters said they would take the money in Bitcoin. Gold came in second place with 37% of the votes. The survey's results seem to suggest people are still bullish on the flagship cryptocurrency, despite the big price slides in recent memory.
Notably this isnt' the first time Ron Paul conducts a poll like this one. The last one, conducted in December of last year, saw 10,000 people respond, 54% of which chose bitcoin as their preffered investment for then next 10 years.
Gold vs. Bitcoin?
Gold and bitcoin took the lion’s share of the votes in the poll, which sparked a big debate in the comments between people who saw the pros and cons of each.
Some people cited potential crackdowns by government authorities as a reason why they would shy away from bitcoin if they were presented with the $10,000 gift. Others pointed out the stability of precious metals as a justification for a choice in gold.
One fired back and said bitcoin’s decentralized nature makes it valuable since it “can not be shut down by any government or authority.” Another said bitcoin was more scarce than gold, which is “the most important factor in retaining value.”
An interesting discussion in the comments centralized around what the results would be if the data could be broken up by age, since bitcoin and other cryptocurrencies have proven to be particularly popular among younger populations.
Ron Paul: Cryptocurrency Advocate
Ron Paul has become a well-known voice inside of the cryptocurrency community for his views on the Federal Reserve and his interest in cryptocurrencies. CryptoGlobe reported in late October how he penned a blog post arguing for the ‘Audit the Fed’ bill, which would exempt crypto and precious metal transactions from taxes.
Paul wrote the “next Fed-created recession” would occur sooner than later and said passage of the bill would be one of the first steps to “force Congress to end our money madness.”