Topic: If Kamala Harris wins, Bitcoin will be fine. - page 3. (Read 2149 times)

Maybe he will do something good for the space, or he won't.
When he is elected, he is free to shatter anything he said, just as any politician. That's the way it goes. And it's okay 

Because Bitcoin became the lever for people in the high castle to utilize to get more votes / attention / etc.

Somehow, the US elections has been made all about Bitcoin. Why should that be? Why should the result of US polls have a significant effect on Bitcoin. From the incumbent government to the one before it and even the one whom is to come, I couldn’t care any less as it is. Bitcoin haven’t been looking up to the US in its activities and it wouldn’t still. The dynamics by which it operates will always remain on perceptions of investors which is independent of any particular element including the US. Kamala or Trump, Bitcoin remains Bitcoin.

Politicians at their finest.
That's why we should look at everything that is said with a grain of salt to it, or with a full spoon of it 

Yeah. Anyone with a sane mind would agree. It's just those dumbass Trump supporters who are going all out while trying to support him and his pointless support for BTC and the entire crypto world in general.

BTC and the crypto world don't require the US government's permission to surge forward. Instead, they were the ones who recognised their cumulative power.

You are placing absolute trust in a convicted criminal who is known for non-stop lying about the most basic facts, such as what state a hurricane is in, or what cures the COVID virus.

But you believe every word Trump says because you want your Bitcoin to go up in value--and you will ignore vast amounts of evidence indicating that Trump is conning you like he's conned so many others throughout his life.

Sounds like the textbook definition of greed to me  .

Not much hopium of him but yeah i do think the trump presidency would create a more favourable atmosphere for crypto to thrive. However, i appreciate your view no matter who wins, I think Gensler is on the way out.

What about you? Do you love bitcoin for the profit, because you believe it will fill your wallet and make you rich, or for some other reason do you love bitcoin? Everything you do is for your own benefit, why do you feel uncomfortable when others do the same?

It doesn't matter what Trump uses bitcoin for, what matters is that he is a supporter of it and will be the first president to support bitcoin. That alone should give us and the crypto industry a better future in the next 4 years.

If you or a loved one has been scammed, instead of blaming Trump or the government. You should blame yourself because if you were not greedy and did not want to get rich quick then you would never have fallen into the trap of scammers. No one can cheat us if we control our greed, don't blame others when greed kills us.

Yeah I agree that whatever happens Bitcoin will do just fine but it may have some upswings or downswings just like normal it just depends on what is going on. It’s kind of cool how crypto has worked its way into the presidential campaign.

Lol Trump fell inlove with Bitcoin?
Why? because it's decentralized?
Or because it prevents the government in been our banks?
Or because it doesn't deteriorate like Dollar?
I really want to know why Trump Bitcoin so much if it isn't for his profit and funding of his campaign.
I don't have a favorite but in the time of Trump
Many naive citizens and individuals would be scam if their money.

But what I think she won't do anything more bigger harm compare to past administration. He provably see how useful the cryptocurrency industry and he receive some donation coming from people in that industry so provably what will happen there is he might not give 100% support to bitcoin if she win, but provably he would let people to use it and allow bitcoin to circulate in their country. Those donation drive on their campaigns made by various individual or institution would provably leave something good impression to those politician that bitcoin is good alternative currency.

But lets keep an eye to see the result if what really happens if Kamala Harris became the President in US.

Trump has fallen in love with bitcoin and if trump should win the movement for bitcoin will be on another level and it is going to affect the price of bitcoin, because the campaign of trump is working hand in hand with bitcoin. Dubai might be behind USA whe trump win. And it is just fees days to the election, I don't know why I have faith that trump is going, Harris does not have anything against bitcoin so even if she wins nothing will happen, the market might not even be affected.

Just that Harris have not made any promises so their is nothing concerning her, and we are also waiting for the kind of development that trump will be coming with when he eventually wins, I think trump will fulfill his promise he made for bitcoin, and maybe even add some favourable police's to bitcoin and it's another way for it to increase the price of bitcoin.

Since the both of them are serious about bitcoin, Kamala has not made any promise about what she will do for bitcoin and what she will not do, which in some cases makes me even believe that she might not be as bad as people think she will be against bitcoin. The election is already coming closer; let's just wait and watch and see what the outcome will be and what whoever sits on the seat will do.

If Trump wins you will see all of the billionaire Bitcoin whales dump their Bitcoin either immediately after or (if there is a temporary Trump-based rally on Bitcoin) they will wait a little bit to take as much profit as they can before bailing out.

Why? Because Trump promises to wreck the US economy and send us into a deep recession, which will cause a massive pullback from retail investors who will need to liquidate their Bitcoin in order to pay the bills after they lose their jobs (or are afraid of that happening).

Trump promises to put massive tariffs on imported goods, including a 60% tariff on goods from China. This will cause instant and painful inflation across the US economy. He promises to deport 20 million US residents, many of whom are workers concentrated in agriculture, hospitality, construction and meatpacking. This will skyrocket prices for all Americans at the retail level.

But most importantly, this will cause uncertainty which in turn will cause businesses to pull back investments and start laying people off--and again, businesses aren't going to wait for the negative effects to show themselves at the retail level: Trump's threats are enough to make businesses change their plans, which will trigger a recession.

Elon Musk has already told everybody he expects "temporary hardship" for the US economy if Trump wins.

You should take him at his word. Unlike Trump, Musk doesn't make up his own lies (he repeats Trump's lies, but that is different). He knows very well how the global economy works. Of course he's a billionaire so it's not like he's going to care if the US has a downturn.

And Musk will dump his Bitcoin too. He knows the score. And so will the other Bitcoin whales who have high-paid economic advisors.

Personally, if I were advising people, I would say that you should sell your Bitcoin now, and wait out the election season to get back in. It's possible you might miss 5% or 10% of gains by either Trump's temporary effects or Harris's long-term stability (i.e. Bitcoin just doing what it has been doing for the last few years).

But Bitcoin could also lose 90% or more of its value in a massive Wall Street sell-off caused by US political instability. The risk just isn't worth it.

Reminder: The thread title still is valid And that hasn't to do only with the fact that Harris mentioned cryptos in some few of her recent speeches and a campaign document.

I suppose the little drop to 68k and even below had to do with this poll showing Harris ahead in a state the Republicans thought was safe?

We could even construct a conspiracy theory: Some Trump supporters could be dumping every time when there are positive news about Harris, to scare Bitcoiners who want to vote Harris and pressure them to vote for Trump so they get their ATH ...

I guess they have the manipulation power for that, as the World's Fattest Fiat Whale (TM) is among them.

Of course that's just a joke Just remember:

- The US got really big in the Bitcoin world during Biden/Democrat administration. (TBH it was not purely his own merit, Xi did also help with his control freak paranoia ...)
- If Trump wins, shitcoin scams could become worse again, and people could turn away from crypto as a whole.

I'll answer both to these, but i don't think that those are gonna be answers, that you are looking for.

The fact that people are seeking for government support for something, that drives the value from the very idea of being resilient against governments oversight... that is still mind-boggling to me.

I don't think the main goal of bitcoin should be more global popularity. That seems forced, as it's popular as hell already. Nor the main goal should be pumping value to it with the help of a government. Let bitcoin itself prove to be valuable, so it will get as valuable as markets want it to be.

Frankly i am not sure. But if i had to guess, she probably understands the basics on a same level as majority of cryptocurrency holders, which isn't much. But i definitely think that she would have capacity to understand it deeper, if/when ever she has time to dig into it. And unlike trump, she is able to listen experts and advisors, so it wouldn't take long for her to comprehend it.

Although they are all financial markets, there are some differences: the gold market and the stock market are markets that have existed for hundreds of years and have reached maturity. Meanwhile, cryptocurrency is like a newborn baby and everything is still in its infancy, so it will need government support to mature. The gold and stock markets were able to mature as they are today thanks to government support, so bitcoin is no exception if we want it to develop like the other two markets.

What you say is not wrong but it is inevitable. Do you have any ideas to stop the government from interfering in the crypto industry? Do you have a solution to help bitcoin achieve global popularity and a market capitalization of tens of trillions of dollars like gold or stocks without the need for governments?


Do you think Harris knows everything about bitcoin?

Things aren't that simple. "Supporting cryptocurrencies" doesn't really mean anything. It's like saying someone is supporting gold, that someone is pro-stocks or pro-money. Question is what pro-crypto would even look like and from whose point of view.

Regulations for crypto can be seen as pro-crypto by legitimizing it, however it does mean tougher laws for it. And only recently, with mandatory kycs and proof of money trails people are starting to grasp what that means when crypto goes mainstream. So long this has reminded of early days of internet, being as bad and unorganized as it was. Newcomers don't even realize where we were just under 10 years ago. When first big crypto exchanges after mtgox started exit scamming, no one actually believed that anyone would go to jail for that.

And broad framework for current crypto regulations and aml laws were created during Trump's last presidency, they have just been tested and evolved more since. I can pretty much guarantee that Trump didn't read anything related to it back then, and haven't read since.

Also how can trump be pro-crypto, when he obviously haven't got a clue what the whole concept is?

When the political party changes, there is a big change in everything. Whatever Kamala Harris or Donald Trump comes to power will change things. Putting crypto currency as a positive and negative for a party will change the political turn and harm crypto. If someone really supports crypto and not just for political reasons then he will be far ahead of others.

Currently Trump's support for Bitcoin is definitely positive towards crypto. If he wins then as a crypto lover I will definitely support Trump. But I am worried about how positive these leaders will really be after coming to the power.

I'd like to know the reasons of this assumption. If you want you can explain them.

Under Trump (2016-20) we had the following numbers regarding GDP growth: 2.5% (2017), 3% (2018), 2.5% (2019) and -2.2 (2020).

Under Biden's tenure until now, we have (2021-23): 5.8% (2021), 1.9% (2022), and 2.5% (2023). Expectations for 2024 are also close to the 2-2.5% area.

(Source: World Bank).

Of course we need to ignore the years 2020 and 2021, because neither Trump nor Biden are the culprits of the COVID pandemic and the recovery in Biden's first year was also not entirely caused by his own merits. But in general, I see in both Trump's and Biden's tenures a "normal" evolution for the US economy, neither too strong nor too weak. Obama's two administrations had similar numbers, with the exception of his first year (2009) during the worldwide finance crisis, which of course was also not his fault because it started a year earlier.

If we assume that Harris continues Biden's policies, then the most rational prediction for 2025-29 is that the US economy continues its "normal" evolution, with growth rates roughly between 1,5% and 3%.

At least I see no catastrophic event on the horizon which could influence Bitcoin negatively.