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Topic: Bitcoin Trump Bump = ~7% (womp womp) - page 3. (Read 471 times)

member
Activity: 182
Merit: 47
November 07, 2024, 05:22:14 PM
#10
Tell that to the people here who want the US to do what they did in El Salvador Smiley.

I made that quip to demonstrate a point, but to the clear, there's absolutely zero chance the US would ever do this. Unlike El Salvador, we have financial interests in the USA that the far larger than Bitcoin who would demand their product be given preference first. Elon Musk would demand that Teslas be the "official car of the USA" before they did anything to force people to accept Bitcoin. The would require everybody buy $AAPL or $NVDA or even $DJT before they forced everybody to accept Bitcoin as payment.
The idea was not to force anyone to invest in bitcoin, as far as I know, and I don't think those were ever part of the promise the newly elected president made during his time of campaign.


The actual dictionary definition of "legal tender" is a law that requires that all citizens accept the currency as a form of payment whether they want to or not.

Bitcoin is 100% legal in the USA to buy, hold and sell. There is no way for it to get "legaler". The only thing the US government could possibly do not to increase the price would be to force US citizens to buy it, either as individuals, or through their tax dollars when the government buys Bitcoin. That's what people are calling for "legal tender" and also the Bitcoin reserve: it's about forcing US citizens to buy Bitcoin to the price will go up, because asking the voluntarily has apparently hit its limit.

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The only thing most people expect from his is a crypto-friendly policy and not to force American citizens to embrace what they might not; it's just a free will. If anyone wants to invest, then the door is open. A crypto-friendly policy will bring about more firms embracing it.

Yep, that's the policy in the USA and has been for the last 15 years, and there's no sign that anybody is going to change it.

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As in the line of making it a payment option, I believe as long as it's legal in the country, it's already enough for anyone to start using it for their business as an alternative payment option. As we all know, that's how it's only going to work; it can't be forced on anyone, nor will it replace any already existing currency. The US is different from El Salvador.

I agree, but apparently a lot of people aren't satisfied with it just being voluntary (see people here on this very thread for examples). People seem to be pretty serious about forcing all US citizens to buy Bitcoin with their tax dollars, for instance. (If they actually do that--which I think is doubtful--that will truly be the end of Bitcoin as an entity independent of the US government).








legendary
Activity: 1526
Merit: 1359
November 07, 2024, 04:02:59 PM
#9
Are you sure its over?  Im just not convinced this is the end. Markets dont always react right away in full force to stuff like this, particularly when you are talking about something as unpredictable as Bitcoin.  A Trump win could still lead to shifts in fiscal policies or regulatory approaches that end up impacting Bitcoins trajectory significantly in the coming months.


~

Yes, and the most interesting thing will be to see if it will really fire Gensler on the very first day after taking the office.  Cheesy
legendary
Activity: 2604
Merit: 2353
November 07, 2024, 03:58:08 PM
#8
Don't forget the most important promise of his electoral program he will create a national strategic reserve of Bitcoins, like what Bukele is doing in Salvador but at the american scale. It could be a giant reserve of billions dollars of BTCs. In addition he has already launched his own crypto platform with his 3 sons, afaik he has 5 childrenin total but his 2 other children are his daughters actually.
sr. member
Activity: 1288
Merit: 231
Hire Bitcointalk Camp. Manager @ r7promotions.com
November 07, 2024, 03:49:42 PM
#7

The perishing of cryptocurrencies would begin when an entity began to lay compulsory forces that everyone must adopt the use of bitcoin or Cryptocurrencies hence the digital currency remains decentralized.


Tell that to the people here who want the US to do what they did in El Salvador Smiley.

I made that quip to demonstrate a point, but to the clear, there's absolutely zero chance the US would ever do this. Unlike El Salvador, we have financial interests in the USA that the far larger than Bitcoin who would demand their product be given preference first. Elon Musk would demand that Teslas be the "official car of the USA" before they did anything to force people to accept Bitcoin. The would require everybody buy $AAPL or $NVDA or even $DJT before they forced everybody to accept Bitcoin as payment.
The idea was not to force anyone to invest in bitcoin, as far as I know, and I don't think those were ever part of the promise the newly elected president made during his time of campaign.
 
The only thing most people expect from his is a crypto-friendly policy and not to force American citizens to embrace what they might not; it's just a free will. If anyone wants to invest, then the door is open. A crypto-friendly policy will bring about more firms embracing it.
 
As in the line of making it a payment option, I believe as long as it's legal in the country, it's already enough for anyone to start using it for their business as an alternative payment option. As we all know, that's how it's only going to work; it can't be forced on anyone, nor will it replace any already existing currency. The US is different from El Salvador.
member
Activity: 182
Merit: 47
November 07, 2024, 12:40:42 PM
#6
The election is over and we know who the American people chose. Harris spoke after the election and accepted defeat and would transfer power peacefully. Biden also sent his congratulations and invited the new president to visit the White House. And you, what are you trying to convey next after a series of threads, rude comments about Trump just because you support Harris?

Stop making those nonsense statements and predictions, let's wait and see what Trump does next because continuing to attack or badmouth him will not change the fact that Trump is the 47th president of the United States. The election is over, we should put an end to unnecessary conflicts and arguments in our community.

Nobody here is "badmouthing" Trump. You are right, the election is over (so it wouldn't even matter). All we're doing here is discussing the political situation in the US as it relates to Bitcoin--and I am actually pointing out here that it doesn't relate to Bitcoin hardly at all.

Markets are forward-looking, so all of the things you say might happen have been priced in to Bitcoin's price today.



The perishing of cryptocurrencies would begin when an entity began to lay compulsory forces that everyone must adopt the use of bitcoin or Cryptocurrencies hence the digital currency remains decentralized.


Tell that to the people here who want the US to do what they did in El Salvador Smiley.

I made that quip to demonstrate a point, but to the clear, there's absolutely zero chance the US would ever do this. Unlike El Salvador, we have financial interests in the USA that the far larger than Bitcoin who would demand their product be given preference first. Elon Musk would demand that Teslas be the "official car of the USA" before they did anything to force people to accept Bitcoin. The would require everybody buy $AAPL or $NVDA or even $DJT before they forced everybody to accept Bitcoin as payment.



full member
Activity: 350
Merit: 128
November 07, 2024, 11:59:55 AM
#5
2. It's clear that US laws won't significantly change under Trump in a way that will pump Bitcoin's price. Bitcoin is 100% legal in the US and anybody here who wants to can buy and sell it. Hence the only imaginable new laws would have to involve forcing people to buy Bitcoin, which is very unlikely under Trump or any other US president (forcing people to buy Trump's coin, on the other hand, might be something he will try to do

The perishing of cryptocurrencies would begin when an entity began to lay compulsory forces that everyone must adopt the use of bitcoin or Cryptocurrencies hence the digital currency remains decentralized.
The government would remain autonomous that has the potential power to legally  approves inventions ans regulator orders.
Bitcoin can globally legalized for payments and services tenders but it'd be an individual decision if to adopt/accept it.
You don't need to force anyone in, just let them be and In jus matter of time they would realize their missing out.
hero member
Activity: 882
Merit: 792
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November 07, 2024, 11:59:01 AM
#4
The markets have spoken, and it would appear that they don't seem to rate Trump's victory as being all that significant for Bitcoin.
Bitcoin's price in 6 November was 69.4K and today it's 76K, that's a 8% rise but keep in mind that the price is rising at this level of marketcap. Bitcoin is not $200 today, it's not easy to pump such a huge price with that percentage. It's 100% clear that Trump's victory had a positive impact on the price but the real positive impact will come when he comes in governance and does the actual job. If he won't do well, then the price will significantly fall.

1. Bitcoin has been doing just fine under Biden, going up 500% while he was president. Although there are tiny numbers of people (e.g. certain crypto businesses and brokers) that have been negatively effected by current US policy, the market overall for Bitcoin is essentially 100% free and open to any investor who wants to bet on Bitcoin here.
Bitcoin is doing fine on it's own, it's wasn't Trump in 2016-2020 and Biden in 2020-2024 who affected Bitcoin's price, they both had nothing to do with it.

3. Trump's policies involve a lot of new risk to the US economy. Trump has promised two gigantic changes to the US economy: massive import tariffs that will trigger a worldwide trade war, and the deportation of 20 million US residents, millions of whom work in key labor markets. Although it remains to be seen if Trump will actually implement these promises (the markets right now are betting he won't), this certainly adds risk that was not there under Biden.
That's what American people decided for the USA and for the globe, let's wait and see what's about to happen. I try to remain positive, that's the best I can do despite the fact that I didn't like both candidates.
sr. member
Activity: 672
Merit: 416
stead.builders
November 07, 2024, 11:54:00 AM
#3
snip

Are we going to stop comparing the way of bitcoin performance to the influence form these politicians, because they are two parallel lines that cannot meet each other, the rise and fall of bitcoin does not have to concern the political decisions, influence or impacts, though in some cases, there could be some little occurrence on the same time as coincidence, but that is not enough to be used as a justification for assuming bitcoin is fully backed by politics, because its a decentralized currency and these people in question needed the influence of bitcoin than bitcoin could depend on them for any milestone achievement, there is something more bigger and stronger in bitcoin network under the influence of its demand and supply.
hero member
Activity: 1960
Merit: 537
Leading Crypto Sports Betting & Casino Platform
November 07, 2024, 11:27:34 AM
#2
The election is over and we know who the American people chose. Harris spoke after the election and accepted defeat and would transfer power peacefully. Biden also sent his congratulations and invited the new president to visit the White House. And you, what are you trying to convey next after a series of threads, rude comments about Trump just because you support Harris?

Stop making those nonsense statements and predictions, let's wait and see what Trump does next because continuing to attack or badmouth him will not change the fact that Trump is the 47th president of the United States. The election is over, we should put an end to unnecessary conflicts and arguments in our community.
member
Activity: 182
Merit: 47
November 07, 2024, 10:31:43 AM
#1
The markets have spoken, and it would appear that they don't seem to rate Trump's victory as being all that significant for Bitcoin.

This makes sense to me, since:

1. Bitcoin has been doing just fine under Biden, going up 500% while he was president. Although there are tiny numbers of people (e.g. certain crypto businesses and brokers) that have been negatively effected by current US policy, the market overall for Bitcoin is essentially 100% free and open to any investor who wants to bet on Bitcoin here.

2. It's clear that US laws won't significantly change under Trump in a way that will pump Bitcoin's price. Bitcoin is 100% legal in the US and anybody here who wants to can buy and sell it. Hence the only imaginable new laws would have to involve forcing people to buy Bitcoin, which is very unlikely under Trump or any other US president (forcing people to buy Trump's coin, on the other hand, might be something he will try to do Smiley).

3. Trump's policies involve a lot of new risk to the US economy. Trump has promised two gigantic changes to the US economy: massive import tariffs that will trigger a worldwide trade war, and the deportation of 20 million US residents, millions of whom work in key labor markets. Although it remains to be seen if Trump will actually implement these promises (the markets right now are betting he won't), this certainly adds risk that was not there under Biden.

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