Topic: If Kamala Harris wins, Bitcoin will be fine. (Read 2149 times)

Indeed Thread is (predictably) derailing, so I'm closing.

Kamala Haris loss on the election of US and the Donald Trump win and We see the state of the crypto market.  Bitcoin price is going up a lot and there is a big possibility of Bitcoin price hitting $100k. If the price of Bitcoin goes up by only 10-12%, Bitcoin will pass a very big milestone. It's probably this halving that we've dreamed of seeing Bitcoin hit $100k. And since the election is already over and Donald Trump has been elected, talking about Kamala Harris is now off-topic.  So I think it's better to lock this topic now

It will provably defeat their interest to make USD to dominate in the scene if they allow bitcoin to become their currency. That's why I think this people thoughts like that will never gonna happen for now.

But for sure they allow people to use this on whatever they like as long as it is inline with their regulation set and away from any illegalities. So hopefully we will not encounter any issue like those criminals take advantage of their friendliness towards the usage of bitcoin in US since there's still a chance that there stance will change if they see something bad happen and illegal activities rise when they allow bitcoin to be used in their country. Hopefully nothing like that will happen and we can always see pure growth for bitcoin with this development happened this year.

Reserves wouldn't make it a go-to currency afterward even in a perspective, in my opinion.. More like digital gold for the US and other big guys to store and leverage their influence on it

It's either dump => rally in Harisse's case or rally => into a correction in Trump's.
Still, BTC is being used by politicians in the US to lever some interests and to find a way to create reserves of it - to control it more and have a clear way to do something with it on the market.
It's both fascinating and worrying for me.

Trump's idea was to create a strategic reserve using bitcoin, he never said he wanted to make it a legal currency. You need to know that his main goal is to maintain or increase the dominance of USD worldwide so there is no way he will use bitcoin as a currency. In addition, fiat will never end because it is the best tool for the government to control us and this economy.

In the long run, we can't know what will happen if Harris is elected because we still don't know exactly what her true stance on crypto is. But you're right, there will be a serious dump in the market in the short term if Harris wins. But luckily, things didn't turn out that way, Trump won and the market won in the short term.

Of course. They're waiting for the US to make its move. I'm very sure Trump will proceed as planned by establishing a US Bitcoin reserve. "Hyperbitcoinization" is much closer than we've thought. It won't be long before the whole world adopts Bitcoin as its main currency. Perhaps this will mark the beginning of the end fot Fiat? Only time will tell.

Thank God Trump won the 2024 presidential election. Otherwise, Bitcoin would've been a goner (in terms of market price). At least within the short term. The bull market is just getting started, so hang on tight as this is going to be a wild ride. Exciting times ahead for all bitcoiners.

Just a few "last remarks" on some of the last posts I found interesting (the topic will soon be closed -- for obvious reasons -- if too many low-quality posts are added):

According to estimations, European countries do not see such a high crypto ownership (most of the countries register numbers close to 10%), as in the US (close to 20%) still.

In general however I agree that parties proposing too crypto-hostile policies can be hurt by crypto supporters already. The current EU policy in MiCa seems more or less reasonable, but the AMLR paragraph which restricts privacy coins like Monero is in my opinion so hostile that I would indeed vote for parties vowing to abolish that paragraph. Still there may be time as it only will come fully into force in 2027. I think in their eager to combat cybercrime the governments forget how important it is for marginalized groups and opposition groups in dictatorships to be able to transact with privacy coins.

This is not exactly correct. If countries add BTC to their reserve, it is possible that nobody follows them (like it occurred when El Salvador started with that policy) and the reserves plummet in value.

The US of course is a big fish in the pond. But even if they really buy a million BTC (which is already an extreme proposal) then they will own as many BTC as the US ETFs "only". The ETFs were not able to stop the 50k crash in August, for example, and such deep dips can scare other governments away from following.

One could even argue that the US, if they decide to add BTC to their reserves, realize a gamble: they win if other countries follow. It's possible that the gamble plays out. But if they don't follow, then their gamble may fail.

Bitcoin's price is already quite high. It's not a "tiny market", and thus a single government while it may be able to move the price a few %, it's not enough to drive them in a completely different order of magnitude.

Politics always have implications and impact on bitcoin, if not entirely on the network, but political play affects the price of bitcoin very much, especially when it's about US politics and economy and other world classes with good economies.
 
From the way things are moving currently, if the government adopts crypto and moves most of their reserve to bitcoin, then we will have a big problem compared to the advantage in terms of price control because the next political phase might decide to dump all that the last has accumulated.

Bitcoin alone has or stands a chance to surviving without human/political influencer.Over the years,Bitcoin has proven to be intentional and promising too.Even till the nearest future Bitcoin will still be perceived and gains more attention and attraction from everyone all over the globe.The political associates wouldn't have much effects on the implementations as of now and even later.Bitcoin moves against all odds.

I think the EU or even China, Trump's upcoming stance will be the deciding factor in whether they change their stance on bitcoin or not . If Trump is serious about promoting bitcoin in the US , other countries will do the same.
Recently, German MP Joana Cota also said that if the United States buys bitcoin as a national reserve , Europe will also FOMO . In addition , the trade war between China and the United States will continue under Trump , China will have to legalize cryptocurrencies if it does not want to suffer more serious damage .  Although there is no official information yet, rumors about China lifting the cryptocurrency ban are spreading more and more.
In my opinion ,  the future of bitcoin in banned countries will depend on the attitude of the Trump administration , if they use it as a strategy , the rest of the world will have to follow them .

https://x.com/BoldBitcoin/status/1854720526008061987

Europe will get over it soon. Especially when crypto promises to improve the mainstream economy. People living in European countries have the power to elect politicians/government officials through democracy. If the government gets too tough on the crypto industry, people will choose candidates that are more friendly towards it. Assuming crypto is highly popular in the bloc. If crypto supporters in America voted for Trump because of Democrats' "anti-crypto" stance (especially with Gary Gensler), what's stopping the same from happening in Europe?

No matter what happens in the future, you can feel confident Bitcoin will survive thanks to the way it was designed (decentralized). It's just that its growth will slow down a bit in countries that reject it. A full blanket ban will not stop Bitcoin, but rather make it stronger. In the US, Trump won the elections. Since he often proclaimed itself as the "pro-Bitcoin President", market prices will rise faster during his administration. Hopefully, Trump keeps up with his promises until the bitter end.

Agree. Actually my only real hope about a Trump administration is that regulation could be a bit laxer in the area of privacy/KYC requirements. The problem is that I also expect a laxer regulation in the area of investment protection, at least initially. The CeDeFi surge (e.g. Uniswap) after his victory is already hinting at this: centralized "DeFi" projects, and probably also exchanges offering very dubious services like "Bitcoin staking", could be among those most benefitted by this change. And these projects have extremely risky components. For now, Gensler is still in office but we'll see.

You could however be right about that another big scam like FTX could again pressure the Trump administration to a stricter regulation again.

I think the crypto community, above all of course the US crypto community, should now be especially wary about dubious offerings in the "crypto industry" and teach beginners how to avoid them. I will probably for example continue to analyze the launch fairness of altcoins, and I think similar initiatives (for example in the layer-2 "industry" BitcoinLayers) do make even more sense now.

Regarding the Harris campaign, I believe it was an error to be that vague about her crypto policy. She could and should have been bolder, and then perhaps she would have got that 1-2% more in important states she needed. In the end, it's true that Trump could successfully market himself as "the pro-crypto president", and I believe many crypto investors could have decided their vote accordingly, above all those without strong ideologic convictions.

It's funny that BTC went up so much by virtue of just trump being elected but nobody is even talking about the crackdown on European countries. So many EU countries have put serious restrictions in exchanges now and taxation is becoming much more stricter. This is the exact opposite stance that trump is perceived to be following. But I doubt Trump will want to see situations like FTX repeat under his term, so probably there will be strict measures under him in some regards as well. He's not so much of a libertarian if you think about it.

I won't be surprised if that is his agenda, but I don't think that is the case here. After all every presidential candidate would hold on to one thing the masses cherish the most and promise them heaven on earth in other to win the election. No doubt, Trump had a lot of support from the Bitcoin communities out there. Both in social media and social gatherings. The miners, traders, and largely the investors (Both aspiring and current) were in full support of Trump. He has won let's see what's next.

Please don't mention about centralization. Trump's win cannot push for centralization, it's impossible. Let's just hope that the market will be bullish soon enough. Anything other than that I cannot tell.

Trump is more experienced when it comes to politics than Kamala and people have loved Trump from the moment the battle was left for Trump and Kamala I already knew that Kamala wouldn't be able to win against Trump and everyone was delighted about Trump winning and a lot of Kamala fans were not happy but there was nothing that could be done because we already know that the win can not be changed, and the fact that Trump has become a lover of bitcoin just makes things more interesting, and the comments and how trump showed a lot of support for bitcoin just makes it very easy, for him to get peoples attention and it was one of the tools that trumps used and during the election and when trump was leading it so bitcoin price was going up, this shows that it is going to be a good season for bitcoin because there will be less drama and maybe they can even the vat percentage for bitcoiners and that is part of the return bitcoiners need from trump.

Of course Bitcoin will be fine. But it won't rise that quickly with the adninistration's "anti-crypto" rhetoric. Gary Gensler's actions (SEC chairman and a Democrat) caused many crypto exchanges and companies to move away from America. Trump has been frequently labeled as a "pro-crypto President", so him winning the race will lead BTC towards new heights. Or should I say, Bitcoin will rise faster if Trump wins. Actually, Trump is the projected winner of the presidential race. So nothing should stop BTC from going all the way to Mars. I think $100k is now closer than we've thought.

Anyhow, there's no denying Bitcoin will stand the test of time thanks to the way it was designed. If someday America abandons it, Bitcoin will just blossom somewhere else. It's a "global currency", after all. A bright future awaits for all Bitcoiners.

What if Donald trump is in the disguise and just want to make use of the community to win the election but does not care about us. From the look of things, I want him to win too but what if as Kamala is not concerned about Bitcoin, attention would not be on us and we will be left alone to do what we want. But Donald Trump win can bring legalization to Bitcoin by trying to centralized it so the United states can try to control it as he has always been saying that he wants USA to control the market of Bitcoin and not China or another countries. But regardless of who is going to win, none of them can stop the progress of Bitcoin. Many president before them has tried but they failed because Bitcoin is not like their regular victims that the government ends

I will agree that Donald Trump is more experienced since he has contested for presidential elections three times. Kamala Harris had a joint ticket with Joe Biden and this is her first experience as a presidential aspirant.

However, we cannot conclude that Trump is ahead of Harris politically. The female presidential hopeful was better in the presidential debate and both of them have almost equal scores in most polls.

Don't assume that Trump will win the elections because he is supporting the crypto industry. The members of the crypto community will contribute insignificant votes to the election because we don't have a large population. And other important issues will determine the outcome of this election. Americans are more concerned about immigration, abortion, LGBT rights, foreign policy, and gun ownership laws than Bitcoin. Bitcoin is just part of economic policies.

I thought as much whereby she never made mention of crypto if I’m not mistaken or it’s either she just know what’s best for the citizens and what’s best for her team. Also at the other hand Trump talking about crypto don’t stand a chance as what will happen next if he wins the election, let’s watch what will happen next before judging because from several situations using crypto as a means to win the heart of crypto enthusiast is common but some might not keep to their promise, it seems Trump is different and aside the false promise they give I believe Trump might act different towards crypto, what will be bitcoin stand from now till whenever matters a lot