Bloomberg: Trump considers creating the first ever White House Crypto role - page 2.

CryptoBuds

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Quote from: Gladitorcomeback on November 22, 2024, 11:02:52 AM

Quote from: Lucius on November 21, 2024, 11:29:27 AM

I really don't know why people are so fascinated by China in the context of BTC?

It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.

China and the United States are the two largest economies in the world, their economic decisions and policies will also have a direct impact and influence on the whole world and bitcoin is a part of world. Or it can be said that the world economy is in the hands of these two countries so it is not surprising that everyone is interested in anything related to them.

China is a formidable rival of the United States and as far as I know, they have never given up on their goal of taking the world number 1 position from the United States. So they will try not to fall behind the United States in any field. They may not like bitcoin but if Trump creates a race for bitcoin demand and the whole world has to follow, China cannot stay out of it.

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Quote from: Lucius on November 21, 2024, 11:29:27 AM

I really don't know why people are so fascinated by China in the context of BTC?

It is probably because it is among the top three countries with the highest crypto adoption rates. In 2023, India was on top, followed by China, the second country with the highest adoption rate with 35M crypto users. Despite this, I agree with you that there has been such news in the past as well, but country's stance about Bitcoin and cryptocurrencies never changed, at least not so far.

Quote from: TravelMug on November 22, 2024, 05:58:44 AM

He has no choice, and he knows that all eyes is on him specially with all of his promises with regards to crypto. And it looks like he will have to fulfill it when he officially becomes the next president next year.

I don't think we can say that he has no choice because no one can do anything if he doesn't do everything he says. He will still be the president until the next elections, but since this will give him a bad reputation, he will surely consider doing everything he can only to save his reputation even if he doesn't like Bitcoin and cryptocurrencies personally from the inside.

We can hope that he does fulfill his promises, it will be a positive development for cryptocurrencies.

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Quote from: avikz on November 21, 2024, 12:33:50 PM

~snip~
SEC has proven itself an enemy to the crypto businesses. That needs to change for sure!

Maybe SEC has proven to be an enemy of the scam crypto industry, but he certainly hasn't proven to be an enemy of BTC - because what is happening now is largely the result of positive decisions by that same SEC. Some will say that the lawsuits forced them to do it, but if we are honest, I think that they waited for a reason until the futures&spot BTC ETFs were approved - because everything bad that could happen with it is somehow their responsibility.

I think people are their own worst enemies in the world of cryptocurrency - and if they want the Wild West, it looks like they'll get it.

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Quote from: ranochigo on November 21, 2024, 01:36:24 PM

Quote from: legendbtc on November 21, 2024, 08:02:31 AM

But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

It isn't a ruling and the court merely clarified that it is classified as a personal commodity and businesses are still not allowed to transact or use it as an investment vehicle. I don't believe China would lift the ban anytime soon, the problem with capital control persists.

Yes, I do not think that this news really contributed to the price going into another all time high. I mean we have seen what Chinese did since 2018 and I doubt that they will make a U-turn just because Trump win the election.

Quote from: ranochigo on November 21, 2024, 01:36:24 PM

I do hope that Trump does follow through with his campaign but assigning someone on his/her merits. We do need someone who can actively push Bitcoin in the society rather than just another guy to line his pockets up.

He has no choice, and he knows that all eyes is on him specially with all of his promises with regards to crypto. And it looks like he will have to fulfill it when he officially becomes the next president next year.

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Quote from: legendbtc on November 21, 2024, 08:02:31 AM

But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

It isn't a ruling and the court merely clarified that it is classified as a personal commodity and businesses are still not allowed to transact or use it as an investment vehicle. I don't believe China would lift the ban anytime soon, the problem with capital control persists.

I do hope that Trump does follow through with his campaign but assigning someone on his/her merits. We do need someone who can actively push Bitcoin in the society rather than just another guy to line his pockets up.

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Quote from: Davidvictorson on November 21, 2024, 07:42:22 AM

One of the days if nobody beats me to it, I am going to create a thread here highlighting all the campaigns promises of president elect Trump relating to Bitcoin and Cryptocurrency. When he finally gets sworn in and if he eventually starts fulfilling them, then I'll return to the thread to tick them off. As a non American, I understand the effect of implementation and non-implementation of his promises on a global scale. All we can do right now is hope that he keeps to his word. We'd send him a person thank you note if he does.

I will be one of those who will be looking out to seeing that thread and I no in no distance time we are going to be seeing a lot of activities coming from the White House because the president elect have made so much promises during his campaign and for that alot of things will be expected to start unfolding the moment he hit the ground running with his administration, so for that If Bitcoin could make it to $100,000 price prior to the swearing in date, that means when if the campaign promises turns out to become a policy and in favor of the crypto ecosystem that means the price of Bitcoin could be triggered to above $150k which is somewhat a Base line to be expected.

So mate I will be waiting to see your thread highlighting all the campaign promises and it potential actualization when the Trump administration comes inboard in the coming days week's, but not too long from now, I believe the crypto market is going to remain in this positive mood until that very time and alot should be expected and not limiting us to a benchmark of $100k, we can go abive that price.

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I think it is a much needed move. The crypto related businesses need clarity. Currently the SEC is dealing with all crypto related matters and messing it up completely. So if Trump creates a roll to look after crypto related matters in US, I believe that will become a blessing for the cryptocurrency related businesses in the US.

SEC has proven itself an enemy to the crypto businesses. That needs to change for sure!

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Quote from: legendbtc on November 21, 2024, 08:02:31 AM

~snip~
But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

Chinese courts made such decisions a long time ago - and I really don't know why people are so fascinated by China in the context of BTC? Bitcoin as something decentralized has no place in a society ruled by communism - in other words, I don't see how China would allow trading with BTC again unless the policy changes completely.

Quote from: https://www.thestreet.com/crypto/news/chinese-court-declares-bitcoin-is-virtual-property

Chinese Court Declares Bitcoin Is "Virtual Property"
May 13, 2022 5:07 PM EDT

This week, Shanghai High People’s Court said that Bitcoin, the world's largest cryptocurrency by market capitalization, is a "virtual property" entitled to legal protections under Chinese law. This declaration stunned outsiders, given the country's decision to ban cryptocurrency last year.

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Quote from: Ziskinberg on November 21, 2024, 08:28:12 AM

Recently, they announced plans to accumulate 1 million Bitcoin for their strategic reserve. That alone speaks volumes, they’ll need crypto experts to manage this, ensuring they maximize profits while minimizing risks.

This is just Senator Lummis' idea, not a plan or proposal that has been presented to the president for consideration or Congress for approval, so it's too early to say whether this will ever become a reality. Politicians can say whatever they think, we shouldn't take it too seriously. It only becomes noteworthy and worthy of our attention when they turn the idea into a real proposal and present it to parliament.

I think we shouldn't make too many predictions and put too much hope just because of random words from politicians. We need to wait until Trump officially becomes president and takes power, then what happens next. Because if he doesn't keep his promise and doesn't act bitcoin friendly then no one will dare to think about this idea anymore.

Ziskinberg

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Even without the news, Bitcoin was already on track to hit $100k. Right now, the hype seems closely tied to Trump, and most of what we’re reading is positive. But things will definitely shift once he’s in office and the real work begins. For now, no complaints, let’s keep this kind of news coming since it only fuels the bullish momentum.

Recently, they announced plans to accumulate 1 million Bitcoin for their strategic reserve. That alone speaks volumes, they’ll need crypto experts to manage this, ensuring they maximize profits while minimizing risks.

legendbtc

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There has been a lot of positive news for the cryptocurrency industry coming from the Trump administration recently, although none of it has been officially confirmed or announced. Alongside the news that several senators have proposed making bitcoin a strategic reserve, there are also reports that Trump is planning to meet with the CEO of Coinbase to fill a new position in his administration. Does this have anything to do with your news? Or the news that he is also considering Teresa Goody Guillén to replace Gary as SEC chair...Overall, there are a lot of positives about the Trump 2.0 administration for crypto and that could be why bitcoin keeps hitting all-time highs every day.

https://x.com/RadarHits/status/1859003622144831742

But I think the bigger news contributing to today's bitcoin rally is that Chinese court has ruled that owning bitcoin and cryptocurrencies is legal. This would open up the possibility that China will lift its cryptocurrency ban in the future, possibly even as early as this year.
Bitcoin crossed the $98k after the news was released.

https://x.com/BTC_Archive/status/1859548499706073230

Davidvictorson

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One of the days if nobody beats me to it, I am going to create a thread here highlighting all the campaigns promises of president elect Trump relating to Bitcoin and Cryptocurrency. When he finally gets sworn in and if he eventually starts fulfilling them, then I'll return to the thread to tick them off. As a non American, I understand the effect of implementation and non-implementation of his promises on a global scale. All we can do right now is hope that he keeps to his word. We'd send him a person thank you note if he does.

Baofeng

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https://x.com/BTC_Archive/status/1859306106436321645

So probably this is also one news that really put the price to nearly $100k in the last 24 hours. And as we all know, Trump's political agenda and I will say that it's a big factor for him winning is because of his commitment to Bitcoin and crypto in general.

And after winning the election, he had started to make news about how he will make crypto great in America and probably this is a very welcoming news for us specially once he officially sworn as the next President next year and creating this pro-crypto role.

Topic: Bloomberg: Trump considers creating the first ever White House Crypto role - page 2. (Read 328 times)