Trump accepts Lightning Network for donation of his campaign in Bitcoin - page 2.

Abiky

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Quote from: Davidvictorson on June 03, 2024, 05:22:14 AM

I don't see how this helps bitcoin in anyway. In fact the involvement of any politician with Bitcoin shouldn't be news and shouldn't be reported at all. We know their intentions. Once they clench power, they'll resume their direct and sponsored attack on Bitcoin. For those who have the technical knowledge and expertise of Bitcoin, please I encourage you to keep creating decentralized and privacy software tools that would shield us from these politicians so that they cannot reach us once they win and reveal their true colors.

It helps give mainstream exposure to Bitcoin. Especially with a high profile politician as Donald Trump. I know the Lightning Network is flawed, but it's at least a good way to drive the masses into BTC. With due time, the LN should be able to improve until it becomes a "force to reckon with". We need as many pro-crypto politicians in Bitcoin as possible.

Of course. Some of them publicly claim their support for BTC just to gather votes. Once they're in power, they totally forget about it. Just like how Argentina's Javier Milei forgot about Bitcoin. Was he able to abolish the Argentine Central Bank? No. Was he able to replace the Argentine Peso with either the USD or BTC? No. The same thing could happen with Donald Trump after he's re-elected for President of the United States. Who knows? Cheesy

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Quote from: cryptomaniac_xxx on June 06, 2024, 06:08:00 PM

Just don't forget about this tweet though,

https://x.com/realDonaldTrump/status/1149472282584072192?lang=en

In short he calls Bitcoin as a scam, so why the sudden change of stance here?
Obviously, it's election time, gals and guys, others might argue that this is not a political statement, but still coming from a President and then suddenly make a U-turn statement to suddenly accepts LN for his campaign donation? You have to think twice American voters.

That's the problem, populism causes people to stop thinking altogether. Politics has become 'personalities over policies'. Trump could stand on a stage tomorrow and announce that he's going to shoot a baby in the face and plenty of dumbfucks would still vote for him. Hopefully he ends up in jail and the Republicans will be forced to select a new candidate.

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Quote from: cryptomaniac_xxx on June 06, 2024, 06:08:00 PM

Just don't forget about this tweet though,

https://x.com/realDonaldTrump/status/1149472282584072192?lang=en

In short he calls Bitcoin as a scam, so why the sudden change of stance here?
Obviously, it's election time, gals and guys, others might argue that this is not a political statement, but still coming from a President and then suddenly make a U-turn statement to suddenly accepts LN for his campaign donation? You have to think twice American voters.

It is true that the election is approaching and he is using every means to get people's votes, and whether he really supports cryptocurrency or not is still a question mark. But what's wrong with someone changing their opinion after a while, after taking the time to learn about it? Even many investors on this forum, who are bitcoin maximalists were skeptical and distrustful of bitcoin in the early days of hearing about it. I myself was the one who refused to invest in bitcoin when I first heard about it, simply because at that time we had not learned about it and did not know what it was, so it was normal for us not to be interested. Or even the CEO of blackrock or Michael J. Saylor used to despise bitcoin but now they are the investors holding the majority of bitcoin.

If yesterday he claimed to hate bitcoin and cryptocurrencies, but today he suddenly said he was very interested in them, it would be a blatant lie. But it's been 5 years, and that time is not short.

https://www.cnbc.com/2017/10/13/blackrock-ceo-larry-fink-calls-bitcoin-an-index-of-money-laundering.html
https://www.coindesk.com/business/2023/07/07/blackrock-ceo-larry-finks-turnabout-on-bitcoin-elicits-cheers-skepticism-from-crypto-insiders/

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Quote from: MusaMohamed on June 02, 2024, 09:31:07 PM

It is the first time ever a President nominee in the USA accepts Bitcoin donation for his campaign by Bitcoin Lightning Network.

Trump Becomes First President To Accept Bitcoin Lightning Payments For Campaign Donations.

The team of Trump's campaign accept it by partnering with Opennode. I don't judge anything about Trump and his team but I see he is actually a creative man and proved it through his life and business career as well as political career recent years. He doesn't refuse to accept anything, even it is very new, if it can potentially helps him to get benefit.

https://txstats.com/d/000000012/lightning-network?orgId=1&from=now-7y&to=now
Number of opened channels drop but Sum of channel value recovers and increases since September 2023.

It's very obvious that when one is not in power he will do anything just to get the power again it's because power is also like a drug that has no exit to its addiction. It will make you do things that you never have thought of doing in your life.

So it's not a surprise that Trump is doing that officially to take power be will get any kind of donations that will come to its way.

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They say a rat will eat his own kids and I believe any politician will do the same. During that past elections many of the politicians made huge promises when they got near to the election and some of them were supporting Trump, but when he was elected... they faded away into the shadows and Trump made all the calls. Roll Eyes

These people will use any technology to get their hands on "money"... so do not expect them to support it, once they get into positions of power. They will use this technology and spit it out, once they reached their goals.... and it does not matter to them, where it came from. Cheesy

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It's great that Bitcoin is becoming a more prominent part of US politics, and that a major presidential candidate accepts donations in Bitcoin. But I hope that a small nice gesture, and a gesture that benefits Trump directly (it's money for his campaign, and it's potential votes for him in the elections), won't be enough to sway people to vote for him. Right now, Trump just needs support, so he seems more pro-Bitcoin. But in 2021, for instance, he viewed Bitcoin as a scam and was against it because it's competing against the USD.

cryptomaniac_xxx

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Just don't forget about this tweet though,

https://x.com/realDonaldTrump/status/1149472282584072192?lang=en

In short he calls Bitcoin as a scam, so why the sudden change of stance here?
Obviously, it's election time, gals and guys, others might argue that this is not a political statement, but still coming from a President and then suddenly make a U-turn statement to suddenly accepts LN for his campaign donation? You have to think twice American voters.

NotATether

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Quote from: BlackHatCoiner on June 03, 2024, 12:01:01 PM

The Bitcoin community in the last few months:

Absolutely disgusting.

Quote from: BlackHatCoiner on June 03, 2024, 12:01:01 PM

I have a hard feeling that we shouldn't be praising about that person. He accepts lightning, and other crypto for his donations. So what? It's naive to think that he's pro-Bitcoin, because Bitcoin literally takes the power of him. And, judging by his previous presidency, it's highly likely that he won't abide by his promises.

Anyone can make an account with OpenNode, what is the big deal about that? It is highly unlikely that the amount of donations made via Lightning Network will be significant anyway, as Lightning Network channels have serious limitations for opening channels with very large (1BTC+) balances. And it is also unlikely that those donations will be enough to cover a days' worth of advertising anyway.

bluebit25

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I just have the feeling that Trump and his team are expressing support for bitcoin and crypto, not sure if it will affect people's support for him but really for the crypto community always great news.

Having an influencer like Trump show support for Bitcoin is proving the fact that it is moving towards adoption in a big way, and even Biden is showing interest in Bitcoin. Perhaps they also see some opportunity in supporting Bitcoin to optimize election results.

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Quote from: Majestic-milf on June 03, 2024, 01:54:50 AM

Well, to correct your take, Trump is not the first presidential candidate to accept Bitcoin payment via lightning network since Robert F. Kennedy was the first to do this but others have started accepting payment in Bitcoin and the person to bring this pattern in was Kentucky Senator, Rand Paul in 2016. Back then, to accept payment in crypto was regarded as "wading into strange waters"
Most of these politicians are not really against Bitcoin but will not be bold to stand up for it when it matters, to them anything that will sway the public into lobbying for them should be used to their advantage and it will be wise to not trust the words of politicians.

Good clarification. Then I think it would be more correct to say that he is the first candidate with a clear chance of being president of the USA, to accept bitcoin as a donation. In fact he is ahead of the polls. And he is also a former president. So I think this is not a minor issue.

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Quote from: Davidvictorson on June 03, 2024, 05:22:14 AM

I don't see how this helps bitcoin in anyway. In fact the involvement of any politician with Bitcoin shouldn't be news and shouldn't be reported at all. We know their intentions. Once they clench power, they'll resume their direct and sponsored attack on Bitcoin. For those who have the technical knowledge and expertise of Bitcoin, please I encourage you to keep creating decentralized and privacy software tools that would shield us from these politicians so that they cannot reach us once they win and reveal their true colors.

This movement does not help bitcoin if it is based on the manifestation of Satoshi Nakamoto, and i agree that the involvement of politicians will not bring real decentralization, only censorship & also rules there. However, if we look at it from another point of view, this movement can help normies get involved directly in bitcoin. Slowly, movements like this will eventually bring real decentralization of the general awareness that was spread first.

Based on the annual consumer report from Security.org, there has been a significant increase in crypto adopters in the US ^[1].

Cryptocurrencies Ownership Rates Among American Adults
2021 - 15%
2022 - 33%
2023 - 30%
2024 - 40%

Although the data above does not refer to bitcoin specifically, i believe that slowly people will find out what bitcoin is and what its true purpose is.

[1] https://www.security.org/digital-security/cryptocurrency-annual-consumer-report/

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Quote from: franky1 on June 03, 2024, 12:26:38 PM

campaign in bitcoin........... uses totally different network that does not even have a blockchain nor the network wide audit security of bitcoin
i think he misses the point and does not understand bitcoin. but wants a free lunch

He is a politician and politicians are mostly not straightforward in their actions and live by somewhat propaganda. With his approach, buddy doesn't care much neither about bitcoin nor investment, nor security of it. He's just looking for a way to secure more funding which would be converted into fiat on receipt and on the surface the media propagates to bitcoin illiterates that he is taking bitcoin seriously.

It is also a campaign strategy to buy the bitcoin community to his side for the re-run of the elections. He's strictly not in favour of bitcoin, but has to bend a bit as a campaign strategy.

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Quote from: dezoel on June 05, 2024, 03:19:47 PM

I thought this man is against BTC, lol. So it looks like he changed his mind now? But, it's also possible that this is only a show-off, to get our sympathy, as he knew that we are lots of us who support BTC and against to the people who dislike it. Biden is more friendly with BTC but we never heard that he did a similar thing like this. Though like I said earlier, this can be too-good-to-be-true, so think a lot of times everyone before believing it.

Despite of it, I think the BTC community can still benefit with it because it was still a special type of promotion, since it's done by a big person. Even if the regular BTC is not the ones who are starring here but that's better because we always wanted to help the Lightning Network to gain more adoption.

What do you expect? It's election time again and even though he is already convicted, who knows, maybe he could still run for the office of the President again and so he has a lot of supporters that's why he chooses to accept donation via LN.

And it will be a big boost to him, if he portrays himself as a Bitcoin or crypto friendly President as compare to the administration of Joe Biden, who seems to be against Bitcoin and his party by all means. But it doesn't mean that LN will be adopted though just because Trump uses it, there is no correlation whatsoever.

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I thought this man is against BTC, lol. So it looks like he changed his mind now? But, it's also possible that this is only a show-off, to get our sympathy, as he knew that we are lots of us who support BTC and against to the people who dislike it. Biden is more friendly with BTC but we never heard that he did a similar thing like this. Though like I said earlier, this can be too-good-to-be-true, so think a lot of times everyone before believing it.

Despite of it, I think the BTC community can still benefit with it because it was still a special type of promotion, since it's done by a big person. Even if the regular BTC is not the ones who are starring here but that's better because we always wanted to help the Lightning Network to gain more adoption.

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Quote from: MusaMohamed on June 02, 2024, 09:31:07 PM

It is the first time ever a President nominee in the USA accepts Bitcoin donation for his campaign by Bitcoin Lightning Network.

Trump Becomes First President To Accept Bitcoin Lightning Payments For Campaign Donations.

The team of Trump's campaign accept it by partnering with Opennode. I don't judge anything about Trump and his team but I see he is actually a creative man and proved it through his life and business career as well as political career recent years. He doesn't refuse to accept anything, even it is very new, if it can potentially helps him to get benefit.

https://txstats.com/d/000000012/lightning-network?orgId=1&from=now-7y&to=now
Number of opened channels drop but Sum of channel value recovers and increases since September 2023.

Why use the Lightning Network? Can't he(or probably the team behind his campaign) just create a cold wallet and accept direct BTC donations? The Lightning Network failed to gain mass adoption among the crypto community. The decision to use LN for donations seems weird.
Anyway, I don't care that much about American politics and I don't trust Trump. He's an opportunist and he will seek every possible way to gain more supporters. Several years ago, he said that crypto is ""made out of thin air" and how he supports crypto. He stated that he will ban TikTok and now there are news that he opened a TikTok account. This man is ruthless. Grin

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This thread title should be renamed as 'Trump fools more people into lobbying for him'. Anyone with a half-decent brain can tell that he is clearly doing all this just for extra support from the crypto community.

That fat dumdum doesn't give two shits about BTC or crypto in general. You need to be truly stupid and naive to actually fall for this crap.

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Biden has allowed Democrats like Gary Gensler and Elizabeth Warren to be in control of the US’s cryptocurrency policies. Their persecution of legitimate businesses has made it unappealing for crypto investors to want to vote for their party. They’ve underestimated how many people they would be alienating with their hostile actions. Trump has taken advantage of this and is now pandering to them to get their vote and financial backing. People that might not have had any intention of voting are now going to be motivated to support Trump because they believe his administration will keep their hands off of their coins.

Trump, like almost every politician, is a charlatan. We can assume that most of what he says while campaigning is insincere. We can only count on him being loyal to himself and to his Wall Street donors. I expect we will see some large contributions from crypto exchanges wanting their voices heard. If the crypto industry can buy their way into having some influence, then perhaps we will start seeing some more positive regulation

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Quote from: Majestic-milf on June 03, 2024, 01:54:50 AM

Well, to correct your take, Trump is not the first presidential candidate to accept Bitcoin payment via lightning network since Robert F. Kennedy was the first to do this

Some people might get confused lol. This is Kennedy’s son, Robert F. Kennedy Jr. . Rfk did not come back from the dead. Grin

.

But anyway Kennedy Jr. is running independently maybe that’s why Trump’s stance on bitcoin is more celebrated because he is the only one of a major electoral party to be this accepting of bitcoin. If you think Kennedy Jr. might be a better option than Trump because he supports bitcoin then think again. Objectively speaking, he shares a lot of similar values with Trump and a more questionable opinions as well. Kennedy Jr. is not taking voters away from the Democrats but is rather splitting the voters among Republicans.

Despite carrying the name of a previous president, he doesn’t have a huge chance just between Biden and Trump to win.

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Quote from: BlackHatCoiner on June 03, 2024, 12:01:01 PM

I have a hard feeling that we shouldn't be praising about that person. He accepts lightning, and other crypto for his donations. So what? It's naive to think that he's pro-Bitcoin, because Bitcoin literally takes the power of him. And, judging by his previous presidency, it's highly likely that he won't abide by his promises.

Exactly my thoughts, I don't know why the bitcoin community sees Trump's acceptance of bitcoin as something very special. When we all know politicians are always doing all that is in their power to get into position while leaving out their promises without an attempt to accomplish them.

Truth is with or without trump bitcoin adoption will still be and so all that is going on around the community is just a hype that I can't see. praising him that more people will adopt bitcoin for his reputation and popularity, which is absolutely ridiculous for me. that's absolutely bull shit, people who will attack bitcoin when the time comes for support.

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Quote from: MusaMohamed on June 02, 2024, 09:31:07 PM

The team of Trump's campaign accept it by partnering with Opennode. I don't judge anything about Trump and his team but I see he is actually a creative man and proved it through his life and business career as well as political career recent years. He doesn't refuse to accept anything, even it is very new, if it can potentially helps him to get benefit.

This isn't surprising to me, he's a politician and they are clever when it comes to finding things that can be beneficial for them. He knows that Bitcoin and cryptocurrencies are the biggest trends in the world at the moment, and he knows that there are a very large majority of people in the US who like and support cryptocurrencies, so his showing support for them will eventually get into the soft-corner of these people and it will be beneficial for him during elections.

These are all marketing gimmicks from politicians and I bet he isn't a fan of Bitcoin himself. A person from the government can never openly support Bitcoin or cryptocurrencies when they know that these things can be the reason for them to lose control over the finances and financial activities of their people.

Topic: Trump accepts Lightning Network for donation of his campaign in Bitcoin - page 2. (Read 789 times)