Topic: Bitcoin Trump Bump = ~7% (womp womp) (Read 471 times)

He is a businessman.
Not an economy guy for sure 

I never said banning mixers is going to kill BTC, surely BTC will survive without privacy solutions. However, since there is no privacy in BTC's protocol level, privacy solutions like mixers become imperative for people who want anonymity, that is what i am saying, and so banning mixers affects people who to use BTC anonymously, not that it affects the network in itself.

ROFL

If you even had the remotest clue about Trump you would understand how ridiculous that sounds :D:D.

Trump is an economist and an entrepreneur, let's just give it a time to assume office and structures how he can manage the compatibility on how he can actualize those p promises. Probably those encouraging false alarms on his policies could be wrong at end.

This is true and I definitely agree that ae shouldn't tell people what they should do and shouldn't do as it is their bitcoin to start with. There are reasons why they want to use mixers like having privacy and such. Using mixers doesn't mean they are laundering money but because of what mixers do is what makes them think that people who are only aiming to have better privacy are also laundering money by using mixers when the truth is they are only trying to keep their privacy better.

It's not wrong if you care about your privacy and you can have it with controlling your inputs, outputs well. If you want more, you can use Coinjoin for your transactions and mixers are farther than Coinjoin.

I agree that individually it's nothing wrong when you use Coinjoin or Mixers, but you can have problems with centralized exchanges if you send your bitcoin there after a transaction with mixer or Coinjoin. You might have very small risk of issues with government but with centralized exchanges, risk is not small. Especially in recent months, many big centralized exchanges turned to be favorite targets of DOJ and expensive law fees.

I won't debate mixers here, but the notion that mixers are so critical to Bitcoin's success that to eliminate them somehow kills it is just not so.

Banning radar detectors is not the same as banning cars.

That's what I also expressed when Trump got elected but a few people were quick to get upset with my statement. I highly doubt that Trump's management is going to have any significant impact on Bitcoin, I don't believe he's going to change any laws regarding cryptocurrencies. This positive movement occurred because Bitcoin enthusiasts rallied for Trump after a few statements he made supporting Bitcoin and recognizing it properely (he had previously said it's made out of thin air in 2019). This momentum is what pushed the price even further, I doubt that Trump is actually going to help Bitcoin in practice.

Yeah, you can use BTC without a mixer, but what is wrong in using BTC with a mixer? Yeah, nothing. You cannot tell people what they should and shouldn't do, if they want privacy and decide to use a privacy solution, i believe they should be allowed to do so. Even if you are correct that 99.9% of bitcoiners don't use mixers, the remaining 0.1% should be free to use it if they want to.

But you can use Bitcoin just fine without a mixer. At least 99.9% of people who buy and sell Bitcoin don't use a mixer.

It's like saying that banning the use of radar detectors is the government's secret way of attacking cars.

There is no way mixing services would know who uses their services and for what reason, mixers are meant to offer privacy to their customers, so they would defeat their purpose if they start seeking the origin of coins that are to be mixed.

Mixers are just tools, like every other tool out there that can be exploited by bad actors, and that is why i think the government is attacking them in order to indirectly attack BTC.

The USA and Europe are where you have biggest risk of operating a mixer / tumbler service. I don't know about their official law and as far as I know, there are no official law of absolute ban against mixers.

The forum operates in the USA and if there was such official law ban on mixers, it has not allowed mixer advertisements for many years since a latest shut down against mixer advertisement months ago.

Mixers are allowed but if your mixer platform is used by criminals for money laundering, you as a mixer founder, operator will be imprisoned. So the law application is very risky for mixer founders/ operators because they can be sent to jailed anytime.

Are crypto mixers legal?
U.S. sanctions crypto mixer Sinbad.io for role in North Korean laundering activities

Take note that BTC mixers is not banned in the U.S., at least there is no official law declaring them illegal, the only thing is simply that the government is attacking them and accusing them of money laundering and terrorism financing, that is why they are seizing them and shutting them down. You don't expect a centralized government to support privacy or anything that allows people to hide their finances from them, do you?

How I see it, the impact Trump will have in the crypto market price was exaggerated and so was the impact the talk of being pro-crypto had on the election outcome. There was a lot more that influenced the decision of over 70 million Americans to vote for Trump beyond him wanting to be accepting towards digital currencies.

My expectations is that the whole discussions on crypto will fizzle out eventually, except there is a big negative law that the Trump administration passes to limit bitcoin growth. If he just allows it to thrive as naturally as it has been, the crypto community should be satisfied.

I don't how it was but the involvement of Donald Trump in Bitcoin in his campaign train and other supporters in the US election boosted Bitcoin price more higher in the period and after the election we can all see that the price has hit it all time high again of $76+k and after the swearing in of Donald Trump then we will see the new price of Bitcoin. But all what I am concerned is the return of mixers. I don't know if he will allow that or not. Joe Biden first 2 years in the office, the price of bills was low and it was when campaign started and Trump started to accept Bitcoin then the price change.

Trump said bunch of stupid/crazy shit, and imho that's just one of them.


While its true that bitcoin will (probably) keep going up no matter who US president is, it would b pretty ignroant to say that this recent pump and new ATH wasn't caused by TRump winning this elections, given his pro-bitcoin stance (even though its probably just bs). I mean, we would (most likely) get new ath if Kamala won, it would just happen a little bit later.

Absolutely! Us is not going to make cryptocurrency a legal tender. If they do, they will be creating another competitor for their own centralised currency. So I don't see a lot changing in terms of regulations.

But what could happen is, Donald Trump can stop regulatory actions against the cryptocurrency companies in US. That might help the industry flourishing without the fear of getting legal punishment. This can change for better understanding Trump!

I think stop attributing it to Trump is better.

People can expect many policies with Trump but he has only four years with us as a President from 2025 to 2029, not more according to Constitution of the USA. Attributing Bitcoin rise, I say rise, not bump because Bitcoin is not a pump and dump coin, to Trump is not too accurate. If we do this, it is like saying Bitcoin falls because of China and their policies switching on and off for Bitcoin.

It's short term and Bitcoin is strong with organic growth so that in long term, it has been rising since 2009, no matter who are Presidents of USA and whatever policies from China.

Yep - it's just the fact that politics and other factors influence BTC in small and not so much ways - and as time goes on, more and more levers will be put onto it, and may others would use it for their campaigns to get some votes / etc.

Especially knowing how that story went.. 

Bitcoin rise 500% is Bitcoin been Bitcoin and has nothing to do with Biden
The situation of the nation then made many realised the beauty of Bitcoin.
Bitcoin exist in an environment, definitely it's price would be affected by changes in policy that affect the environment
But Bitcoin doesn't depend on any country to grow or survive.
If it did, it wouldn't had been called decentralized.

Personally consider this a red flag.

They will - maybe - create reserves of BTC, and of course - it's all promises, not actions in place.
We would be able to judge it only in the months or even years to come.

Some people are usually skeptical of the government and big companies investing in Bitcoin for fear of manipulating the market as they want. But the truth is that you cannot stop anybody from investing in the sector. Bitcoin is gradually moving to the level where institutions will hold more coins than individuals. The price increase will benefit us, but we might not escape the influence of these big investors.        

Trump never promised to make Bitcoin a legal tender just as in the case of El Salvador. Every President of the US will want the dollars to maintain its global dominance. And I don't also think that any government will want its financial system to be controlled by a decentralized currency. They will want to be in control and Bitcoin will not give them such priviledage.        

Do you think Trump saying things about making BTC "US-made" just says about his ignorance and lack of knowledge, or some other intent in place?

I hope that people understand what is realistic and what is not, i.e. believing that the U.S. will make BTC a legal tender because Trump is president is being unrealistic and a tad delusional. The U.S. with its currency as the world's reserve currency will never make another currency a legal tender, and surely not BTC.

There is only little a centralized institution can do for the benefit of a decentralized network, that should be understandable to everyone by now i guess.

I totally agree.
It may be corrected a bit if there would be a different outcome, but if not for Trump - there would definitely be something that would change the situation in the same way.
The result is we came to the same conclusion earlier.

Yep. A new reality is in place - and we should see it in full swing and reap the pros that come with it.
I do not think the current President will go and deliver on all of his promises, but some of them - maybe, maybe.

The more time passes - the more countries will try to adopt the BTC and reap the benefits from it.
And it's natural - BTC becomes more and more influential in many things.

Yeah, it's inevitable at some point, because the more BTC is adopted overall, the more bigger entities will be interested in it. And to use it and acquire it.

Unfortunately it's almost impossible if you want to prevent government to acquire and hold Bitcoin

You must trade Bitcoin with people who're not related to government, trade via online make us never know who're the one we trade, however trading via face to face not necessary mean we're not trade with people who work in officials.

So, it's not possible to adapt to survive, but if we trade our coins through DEX or No KYC P2P, it decrease the chance our coins will belong to them, since the government mostly use CEX specifically Coinbase.

I agree because Bitcoin market is globally, not nationally in a single country. But big countries like China, USA and their policy changes can have impacts on Bitcoin market and price. People on the market will react naturally to policy changes in these big countries and it won't change in future too.

In long term Bitcoin will grow more with many more new presidents in USA and their different policies on this market, but Bitcoin is unstoppable in my opinion.

Accumulation phase finished and resistance must be broken for Bitcoin to break out. 8 months for accumulation phase is like enough, and Bitcoin only waits for a big news for example in this case the new President in the USA, and it's good that he said that he will support Bitcoin and cryptocurrency market.

Without Trump, Bitcoin will have other reasons to break out, so this break out days ago was not only because of Trump.

He was elected when we are about to start the bull run, so it make sense that the price will have to pump. Of course, market is free, but it will be good and open wide if he was very friendly to it. However, they have a hard line stance specially in the last 2 years.

And I would assume that you have heard about, Operation Choke Point 2.0: How U.S. Regulators Fight Bitcoin With Financial Censorship


But you have to admit though that the price did pump after Trump winning the Presidency. I will agree though that his government will not force the Americans to buy Bitcoin or crypto. That is not the point of being crypto friendly, the point is that somewhat Bitcoiners can freely buy in any crypto exchanges.


Every administration has his own policy, and it's very controversial changes in the US economy. But let's see how it goes for him. There is already risk as the US is still trying to recover and every country for that matter. But as President, he will do anything in his power to chance the US.

Do you have any way to prevent that from happening? Just like bitcoin ETFs are buying bitcoin every day and today alone Blackrock bought over $1.1 billion (14k BTC). Do you have any solutions and what should we do to stop institutions and governments from getting interested in bitcoin?
We often say bitcoin is for everyone, we are free to buy and hold bitcoin and will sell when we have enough profit. But ironically, we complain and criticize people who buy too much bitcoin. Do we have the right to do so and what guarantees that if we had a lot of money and were in their shoes, we would never be like them?

I'm not saying that government holding a majority of bitcoin is a good thing but it's not necessarily a bad thing either because everything has its pros and cons. I think it's better to find ways to adapt to survive than to complain about things we can't change.

Reasonable

It's very strange that you've only just learned about these facts. Do you really believe what Trump says? He's nothing more than a populist who's madly greedy for power. If I'm not mistaken, there are 91 criminal cases against him. In the entire history of America, there has never been a president who had such a set of cases. So who are all these people who elected a criminal to head the state? Oh, it seems to me that they are exactly the same. I can say with confidence that nothing good awaits the crypto sphere with this old man. He will very soon fall into senile dementia and things will be very bad for everyone. You'll see.

I wasn't really following the process and the campaign of current US election, but when the end results came, I can't ignore the news so I try to find out, especially all the crypto related policy promised by both candidates. In my opinion the current US election climate is more nuanced and not quite an endorsement for stability. The market reactions this far tend to be indicative that the policy posture of Trump, with a possibility for laying trade tariffs and immigration reform, might further sustain inflationary pressures and supply chain disruptions. For this, investors may take notice and change positions both in traditional assets and cryptocurrencies such as Bitcoin. In light of the key position taken by Bitcoin as an inflation hedge, these actions could actually increase its demand. Contrary to the assumption that a Trump win would hold no weight of great importance to Bitcoin.

Historically, elections add a layer of volatility and may influence a shift in sentiment. That had been the case in the previous years, when both the S&P 500 and Bitcoin tended to be up after elections. A win by Trump could be a replay of the post-election rally of 2016, propelled by business-friendly policies. However, extended turmoil or uncertainty over his policies would keep Bitcoin more volatile. While Bitcoin has remained accessible, therefore, any economic policy change in the United States, whoever the president might be, is still likely to continue its influence on investor psychology within the given sector.

Although US government and its decisions affect bitcoin price but the market never depended on US and that is not about to change.
Bitcoin first went to $74k back in March 2024. And we tested $70k+ multiple times over the past couple of months (at least 6 times), last time was before US election on October 29.
The current rise is nothing new either even though it's an ATH and could even lead to much bigger rises because the resistance is broken not because some convicted felon became US president!

The bigger risk is more isolation of United States!
This time US is not going to run a tariff war alone, they are forcing others to do it as well specially Europeans (that are more like slaves than allies for US). But can others follow? The chances are low. For example UK as well as France are already making deals with China! Germany can not even survive without China at this point, specially since the deindustrialization still continues (eg. the German automotive industry that keeps shutting down and shrinking/migrating to China).

Bitcoin was around $68k before Trump's victory and is currently around $76k and I think that is certainly a significant jump in bitcoin's price.
Obviously we can't expect it to double overnight as things take time and it needs a huge amount of inflow of money to pump bitcoin's price.
It's just the beginning I believe and let's wait a few weeks to see if there's a huge impact of Trump's victory.

This would turn into the biggest shit show if 4 years later the new President decides it was a bad idea and sells it off.  I am happy to see a President supporting Bitcoin, but could this not have grave consequences?  Even the ides itself of The United States holding a chunk of the total Bitcoin Supply is kind of creepy to me.

In a five year and I want to see after trump get elected how much percentage that trump give to the number heck Im not really care about the president since Im not US Citizen I do like only to president of uS that crypto friendly to the Crypto community.

Well after he get elected Bitcoin proven to created new ATH 

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.


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.


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).

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. 

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.

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.

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.



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

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 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.

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.

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.

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.

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.

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.

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 ).

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.