Topic: BitMex Founder Accuses Trump of Being Insincere About His Support for Crypto (Read 365 times)

Some readers may believe this essay is a thinly veiled attempt to poison the minds of pro-crypto Trump supporters. I am not a member of either political party, nor do I care who wins the US Presidential election. The party in power has the means and motive to do whatever it takes to remain in power. This is even more true if the ruling party has done questionable things to block the opposition from taking the reins. That is why it’s more effective to work with the Democratic party. If the situation were reversed, I would advocate supporting the Republicans. The point is that, in a highly polarized two-party system, being partisan is detrimental to achieving your single-issue policy goal.

Copycat

If crypto voters in the US can pass a simple yet profound piece of pro-crypto legislation, it will be highly publicized. As a result, it will politically activate crypto holders in other jurisdictions where a small, vocal, and focused minority voting bloc can achieve legislative results.

Look how quickly Hong Kong and the London Stock Exchanges launched or scheduled launches of Bitcoin spot Exchange Traded Funds (ETF) once the US listed an ETF. Nation-state competition is our friend. Suppose there is a serious effort to use this unique moment in history to push through a transformative, simple, yet effective piece of pro-crypto legislation in the US. In that case, it behooves non-Americans to help the cause.

Helping the cause means shaming individuals and companies that propose legislation that reeks of crypto-crony capitalism. Helping the cause means analyzing and offering feedback on serious proposals. Helping the cause means demanding that those who claim to champion crypto politically in the US not accept the empty platitudes of politicians seeking reelection but demand concrete action now before the votes are cast. And finally, helping the cause means organizing a similar effort in your country if it is a representative democracy featuring highly polarized political parties where no one party has an overwhelming majority.

The point is, the show of "good interest" could not be sincere, BUT that's absolutely OK because the attention alone and the fact that they are using Bitcoin as part of their political campaign is priceless. It means that Bitcoin has arrived and it will be here to stay. Other institutions will probably find their own Bitcoin agenda to add advantage against their competitors like banks advertising that their trading desks have Bitcoin ETFs available while their competitors have none. ¯\_(ツ)_/¯

Sincere or not, who cares! What's actually "good" about Trump or whoever that talks about Bitcoin is, they're starting talking-points about Bitcoin and cryptocurrencies as a new asset class. I'm very confident that that will lead all paths towards Bitcoin because all those other cryptocurrencies are shitcoins. It will be very VERY laughable if those shitcoin holders will be HODLing them for decades.

BitMex Founder Accuses Trump of Being Insincere About His Support for Crypto

Some readers may believe this essay is a thinly veiled attempt to poison the minds of pro-crypto Trump supporters. I am not a member of either political party, nor do I care who wins the US Presidential election. The party in power has the means and motive to do whatever it takes to remain in power. This is even more true if the ruling party has done questionable things to block the opposition from taking the reins. That is why it’s more effective to work with the Democratic party. If the situation were reversed, I would advocate supporting the Republicans. The point is that, in a highly polarized two-party system, being partisan is detrimental to achieving your single-issue policy goal.

Copycat

If crypto voters in the US can pass a simple yet profound piece of pro-crypto legislation, it will be highly publicized. As a result, it will politically activate crypto holders in other jurisdictions where a small, vocal, and focused minority voting bloc can achieve legislative results.

Look how quickly Hong Kong and the London Stock Exchanges launched or scheduled launches of Bitcoin spot Exchange Traded Funds (ETF) once the US listed an ETF. Nation-state competition is our friend. Suppose there is a serious effort to use this unique moment in history to push through a transformative, simple, yet effective piece of pro-crypto legislation in the US. In that case, it behooves non-Americans to help the cause.

Helping the cause means shaming individuals and companies that propose legislation that reeks of crypto-crony capitalism. Helping the cause means analyzing and offering feedback on serious proposals. Helping the cause means demanding that those who claim to champion crypto politically in the US not accept the empty platitudes of politicians seeking reelection but demand concrete action now before the votes are cast. And finally, helping the cause means organizing a similar effort in your country if it is a representative democracy featuring highly polarized political parties where no one party has an overwhelming majority.

And we have seen Trump before, in the beginning he had surrounded him with supposedly pro-Bitcoin, but during his tenure, we didn't see significant laws a well. So it's really up to the voters to choose the "lesser of two evils" here and who they think will give crypto a boost, and so far Trump has somewhat gain traction and he is even invited to speak in the Bitcoin conference.

I don't agree with Mr. Hayes, but he gave some advice to the crypto community. He said that crypto voters (if there's anything like that) should ask elected officials to push for pro-crypto laws before election day.

How can he push crypto law when they are not yet sitting in the office? But I do agree that we shouldn't be careful on who are we going to elect in the US. But let me ask, who do you think will carry on and not go anti-crypto here? We've seen what Biden and his political party does, and they go on a full blown war on crypto with taxes and miners and everything. And we have seen Trump before, in the beginning he had surrounded him with supposedly pro-Bitcoin, but during his tenure, we didn't see significant laws a well. So it's really up to the voters to choose the "lesser of two evils" here and who they think will give crypto a boost, and so far Trump has somewhat gain traction and he is even invited to speak in the Bitcoin conference.

Some readers may believe this essay is a thinly veiled attempt to poison the minds of pro-crypto Trump supporters. I am not a member of either political party, nor do I care who wins the US Presidential election. The party in power has the means and motive to do whatever it takes to remain in power. This is even more true if the ruling party has done questionable things to block the opposition from taking the reins. That is why it’s more effective to work with the Democratic party. If the situation were reversed, I would advocate supporting the Republicans. The point is that, in a highly polarized two-party system, being partisan is detrimental to achieving your single-issue policy goal.

Copycat

If crypto voters in the US can pass a simple yet profound piece of pro-crypto legislation, it will be highly publicized. As a result, it will politically activate crypto holders in other jurisdictions where a small, vocal, and focused minority voting bloc can achieve legislative results.

Look how quickly Hong Kong and the London Stock Exchanges launched or scheduled launches of Bitcoin spot Exchange Traded Funds (ETF) once the US listed an ETF. Nation-state competition is our friend. Suppose there is a serious effort to use this unique moment in history to push through a transformative, simple, yet effective piece of pro-crypto legislation in the US. In that case, it behooves non-Americans to help the cause.

Helping the cause means shaming individuals and companies that propose legislation that reeks of crypto-crony capitalism. Helping the cause means analyzing and offering feedback on serious proposals. Helping the cause means demanding that those who claim to champion crypto politically in the US not accept the empty platitudes of politicians seeking reelection but demand concrete action now before the votes are cast. And finally, helping the cause means organizing a similar effort in your country if it is a representative democracy featuring highly polarized political parties where no one party has an overwhelming majority.