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Rand Paul Has An Idea For Improving Bitcoin

• http://www.businessinsider.com, Rob Wile
While he likes it in principle, Paul said there's one thing he would change about it to align it more with those values: have it backed by something of value, in this case, he proposes, stocks.
 
Here's the full quote:
 
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."

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