Trump Is Not Bitcoin's Savior

Trump Is Not Bitcoin's Savior
фото показано с : bitcoinmagazine.com

2024-11-8 17:00

The election is over, and Trump is now going to be President again. He pulled off something that hasn’t been done since Grover Cleveland in the 1800s, a successful re-election following a loss after his first term. People all of this space are celebrating this as some kind of victory for Bitcoin, but nothing could be further from the truth.

Ross will likely be freed, Trump is too full of himself to back out of such a trivial to deliver on campaign promise, so he will probably do it. It’s too easy, and something he can parade around and take credit for, so it will happen.

That is where anything substantial will end. A strategic reserve is not happening without the approval of Congress, even seized assets are by law required to be disposed of on the open market. Trump cannot from any reading of his authority I am aware of unilaterally push the federal government to begin accumulating bitcoin. Even if by some miracle that Congress did act to pass such legislation, what good does it do Bitcoin? A government accumulating bitcoin isn’t going to help make it more scalable, it isn’t going to make it more private, it isn’t going to protect it from government overreach and interference. It won’t even help us pay off our debt, the price appreciation necessary for such an outcome is frankly delusional.

Instead the most likely outcome is more of the same. More attacks on Bitcoin privacy. More encroaching regulation in the form of KYC and AML. Miners will likely come under scrutiny as Bitcoin’s elevation onto the global political stage continues. The question of their liability and involvement in confirming sanctioned or otherwise undesirable transactions has already been floating around Washington D.C. for a few years now, the tone of those questions will likely get more serious.

Exchanges and other on/off ramps will likely be pressured to engage in ever more invasive surveillance of their users in pursuit of stamping out terrorism, criminal use, child trafficking, etc. All of the traditional boogiemen of the digital world will be trotted out, and the regulatory noose will be tightened. Sure, Trump might push for enshrining self custody as a right, but does that on its own really provide any serious degree of freedom without privacy? Without censorship resistance?

Trump even spoke in Nashville about regulations, and the expansion and endorsement of stablecoins. “People who see Bitcoin as a threat to the dollar have it exactly backwards.” He wants to push dollar backed stablecoins all over the world, taking advantage of a new route for us to export our inflation without the need for diplomacy. People in other countries can just use them, they don’t need their government to choose to dollarize, or hold dollar reserves. Just download an app and start using them. The approach he wants to take to Bitcoin and cryptocurrencies will breath new life into the dollar, and push Bitcoin down a path to stagnation and capture.

People are cheering this on as a victory for Bitcoin, the reality is it is us entering the gauntlet. It is still an open question whether we can successfully run it and come out the other side without having to make serious and potentially fatal compromises. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TrumpCoin (TRUMP) на Currencies.ru

$ 0.0093482 (-1.82%)
Объем 24H $0
Изменеия 24h: 8.36 %, 7d: 6.82 %
Cегодня L: $0.0093482 - H: $0.0093482
Капитализация $61.739k Rank 2306
Доступно / Всего 6.604m TRUMP

bitcoin trump regulation malicious path biden under

bitcoin trump → Результатов: 126


$13 Million Bitcoin? Sounds ‘Bearish’: Expert Hints At Even Greater Heights Ahead

The recent presidential election has sent ripples through the cryptocurrency market, with Bitcoin prices reacting positively to Donald Trump’s victory over Kamala Harris.   As Trump prepares to take office for a second term, his ongoing commitment to making the United States the “crypto capital of the world” has ignited bullish sentiment among investors, positioning Bitcoin at the center of his economic proposals.

2024-11-8 08:30


Фото:

Unity COO: It’s “disingenuous” to say Trump’s win directly caused Bitcoin price rise

Bitcoin reached a high of $75,317 in the early hours of this morning In September, Bernstein analysts predicted Bitcoin to reach between $80,000 and $90,000 by the end of 2024 if Trump won Unity’s COO said to CoinJournal said it was “disingenuous” to say Trump winning the US election was the sole reason Bitcoin’s price […] The post Unity COO: It’s “disingenuous” to say Trump’s win directly caused Bitcoin price rise appeared first on CoinJournal.

2024-11-6 15:56


Ex-President Donald Trump wishes Bitcoin whitepaper a happy 16th anniversary

Trump wished a happy birthday to the anniversary of Bitcoin’s whitepaper and called on ending “Kamala’s war on crypto” Since Bitcoin’s initial days, its price has risen to over $72,000 and is accepted as legal tender in El Salvador Trump’s post comes less than a week before the US election results are in Former US […] The post Ex-President Donald Trump wishes Bitcoin whitepaper a happy 16th anniversary appeared first on CoinJournal.

2024-11-1 02:10


Фото:

Trump marks 16th Bitcoin whitepaper anniversary, vows crypto support

Former US President and 2024 Republican presidential candidate Donald Trump has celebrated the 16th Bitcoin whitepaper anniversary, promising to end what he called the “war on crypto.” Marking the release of Bitcoin’s whitepaper by its pseudonymous creator Satoshi Nakamoto, Trump highlighted his support for Bitcoin and cryptocurrency innovation, framing it as a key component of […]

2024-11-1 22:36


Breaking: Top GOP Congressman Defies Trump, Says ‘I Like Bitcoin’

One of Donald Trump’s top allies in Congress has diverged from the president on what has suddenly become one of the federal government’s top priorities: bitcoin. Kevin McCarthy Is a Bitcoin Fan House Minority Leader Kevin McCarthy told CNBC that unlike Trump, he is a fan of the flagship cryptocurrency and the security of blockchain […] The post Breaking: Top GOP Congressman Defies Trump, Says ‘I Like Bitcoin’ appeared first on CCN Markets

2019-7-16 16:01


Фото:

Fundstrat Analyst Tom Lee Responds to Trump’s Bitcoin Tweet

On July 11 President Donald Trump tweeted that Bitcoin, Facebook’s Libra and all other cryptocurrencies are basically rubbish when compared to the US dollar. Now Tom Lee has a response. Bitcoin: A Store of Value or the Choice Asset of Criminals? Earlier this week the US Federal Reserve Chairman Jerome Powell made media waves and rocked crypto Twitter when he suggested that Bitcoin is a speculative store of value that functions similarly to an investment Read More The post Fundstrat Analyst Tom Lee Responds to Trump’s Bitcoin Tweet appeared first on Bitcoinist.com.

2019-7-14 09:45


Dr. Doom teams up with President Trump to bash Bitcoin as John McAfee questions Libra’s affect on king coin

Nouriel Roubini is back to bashing Bitcoin. And this time, he’s joined by President Donald J. Trump. How exciting is the cryptocurrency industry? In what other industry will an Economist and the CEO of a Futures exchange with 100x leverage call each other the choicest of insults on stage and on Twitter? Dr.

2019-7-13 16:30