Topic: Trump proposes strategic national crypto stockpile (Read 366 times)

But how does any government entity cause Bitcoin to not be neutral? It still will be an open, permissionless system that's decentralized, no? Plus if yor fears become true, and Bitcoin does become compromised and becomes "not neutral", then Bitcoin is not robust enough and therefore has no reason to exist.

Plus to be truly separate from the "realm of fiat", Bitcoin should have developed a parallel economy where everything is denominated in Bitcoin. The Dark Markets would have been that parallel economy if they were not scamming after a few months of operation.

Biggest isn't always best.  National agendas get murky real quickly.  If large economies attempt to exert influence over Bitcoin, we're all suddenly along for the ride.  Whether the outcome of that is "good" or "bad" remains to be seen.  I'd personally rather Bitcoin remain as neutral as possible and remain somewhat separate to the realm of fiat.  In my mind, it's a healthy distance at present.  All this "mainstream adoption" people seem to be clamouring for could well have consequences depending on the form it takes.

It's a complete contract, with the Biden administration as compare to Trump, who seems to be pro crypto now and put it on the spotlight again in this years Presidential election. So I guess the answer is why not? I mean if Trump can bring crypto closer to the biggest economy then they should be happy.

We have seen reports though that Russia is trying to circumvent the sanctions that has been put by the US on them because of the war. So it's two fold, in can help bolsters country if they uses it as a national reserved. Or what Russia is doing, embracing crypto with the intent on going around the sanctions on them.

Which one is the lesser evil?

Hired an adivsor merely to write a speech about Bitcoin? Hahaha you misunderstood me, ser. I'm talking about REAL  advisors - chosen from the respected people in Bitcoin to help Trump formulate policies for Bitcoin and Bitcoin merchants/services.

I believe David Bailey who's the current owner of Bitcoin Magazine is one of those advisors.

Does anyone know who are the other advisors?

The current US administration makes it very obvious for the bitcoin community that bitcoin is nothing but an unreliable and valueless currency in the long run, so it has no place in any financial institutions.

However, with Trump, there's always a promise for a new beginning and promotion, but we all know this could be another kind of a trap. No one should trust words coming from a politician, not until he's serious enough and meant every word that he says or speaks.

You have a possible answer for yourself. May be Trump did hire an advisor not to get into bitcoin but to create a speech about bitcoin for his political tactics.
I really wish he fulfills all what he says but you know how hard it can be to believe him.

I have not seen that many politicians that went up and said "I am going to go into another nation and kill a bunch of people", the situation with Trump is that he actually does mean it, but not for great reasons. Like for example the whole Ukraine situation, he is going to cut any ties with Ukraine, which I can totally understand from financial point of view, why would Americans spend their hard earned tax dollars for Ukraine, right?

But the point he is trying to make is not to stop helping Ukraine, the point is to make sure Russia wins, because he is friends with Putin. So he would be doing the right thing, for wrong reasons, but to be fair if Kamala wins, which looks more and more likely, then it would mean more help for Ukraine, and more tax dollars going to another nation, which does hurt Russia which is good for USA, and it's human thing to do, help a country that is getting bombarded by a bigger nation, but also it is not fair to tax payers as well. When you think about it, there isn't really a right choice candidate, both of them are doing something wrong, and that's why USA is in danger, no matter who they pick, the elected president will do something wrong, it's that simple.

Shower thought. What if Trump actually hired a group of advisers to help him formulate a plan on how to regulate Bitcoin in a fair and non-obstructive manner? I watched his speech and he said all of the right things, such as self-custody, cheap electricity, a Strategic Reserve. I don't believe Trump could think of that by himself. Who is advising Trump about Bitcoin?

¯\_(ツ)_/¯

You know it’s easy to believe a politician if he has been supportive to bitcoin since the first day, but looking how Trump has shifted his idea about bitcoin, this is very obvious, it’s all for the upcoming US election only. And after that, Trump will show his true color.

This is why I cannot trust Trump words for now. Of course, he will do everything for the sake of bitcoin and its community, but the question is until when?

Trump has been playing the bitcoin card for quite a few weeks now but he's such a person whom we cannot trust easily.
Whether he fulfills his promises is a questionable thing but due to his announcements we can surely see a surge in bitcoin price.
At least Trump's existence is benefitting in pumping bitcoin's price up 

I will build a wall, drain the swamp, put damn taxes on those crypto traders, and slap a new import tax on all mining gear!

Do you know what were the two things the guy has actually done of what he has promised?  
I understand for foreigners listening to this idiot promising stuff to actually believe him because of pure interest, but Americans rally believing him and forget he doesn't even have the power to do most of the things must be really out of their minds.

If Kamala would be smart enough in that head-to-head she would ask him a few basic things about Bitcoin, I wanna see the faces of all crypto supporters when they realize the guy probably doesn't even know what a wallet is.


Bullshit!

 

It is no doubt that the current US administration is very hostile about cryptocurrency. They are harrassing individuals as well as the business corporations at their will. They are imposing fines in tune of billion dollars to break the financial backbone of the crypto industry. That needs to change!

However the last thing I would do is to believe a politician. Is expected to win the election. But until you see some actions, there's no reason to believe him.

We know Trump doesn't know ANYTHING about Bitcoin, nor does he care about Bitcoin. But who's giving him advise in these matters? Because the decision to HODL an asset as a Strategic Reserve, that has the nature and characteristics of Bitcoin definitely ISN'T WRONG. Because if they won't do it first, then Russia or China might do it first.

Trump's idea of a national crypto stockpile and telling everyone not to sell their Bitcoin is pretty bold. It's interesting to see him so openly support crypto, especially compared to the current administration's more cautious stance.

Just listen to him but never expect. Trump is still one of those politicians who are good in breaking their promises. So it’s better if we won’t be taking his words seriously, most particularly for the bitcoin community. We’ll wait and see then if he’s going to win this upcoming election, if he’s still be taking the same words about bitcoin. For now, it’s safer to never expect at all. After all, bitcoin will still be bullish in time even without Trump around.

Donald Trump might be a liar and a convict, but he is giving Bitcoin massive publicity. Having a leading US presidential candidate speak well about Bitcoin is a good thing. However, I will not vote for a candidate because he made some promises about Bitcoin. Other areas, such as immigration, war in Gaza and Ukraine, police reforms,  economy, etc, should also be considered before voting for the candidate. Who is even sure that Donald will implement all the things he has promised the Bitcoin community?

I like Trump in some of his interviews and stance with peace and how he should deal with it. But I guess this is a typical politician that we all have. That's very too good to be true if it happens but if he'll prove us wrong about that plan he's got, kudos to him.

There's more to wait and his candidacy isn't just going to center about Bitcoin.

Look at all the industries that he's campaigning, he'd certainly say good things about it so that they'd be with him.

I also follow such events and want to say that there is a lot of falsehood in politics. When someone wants office, they make promises left and right to get the most support from the voters. And when the goal is achieved, as time shows, such politicians do not fulfill half of their promises. In order to justify that they have not fulfilled this or that promise, they nod and blame other authorities, which seem to stand in the way and prevent them from making this or that decision. Politicians who have been in politics should report to the public about what they have already done, particularly regarding Bitcoin, which has been around for years and has already survived several presidents. Tell the public what exactly this or that politician tried to do for Bitcoin and what prevented him from doing it. Trump has already been president and I think he should report what exactly he tried to do for cryptocurrencies and bitcoins and why he didn't do it, where he failed, where he got in the way, where he didn't take into account the potential of cryptocurrencies and how does he want to fix it when he becomes president? After all, Bitcoin didn't come into being yesterday and Trump isn't running for office for the first time, he's not new to politics. Of course, you want to believe in the positive and that everything will be fine, time will tell.

Just so I've got this clear, the man who has....

*checks notes*

bankrupted everything he's ever touched, wants to....

*check notes*

make financial decisions.... 


And you idiots think that's a great idea?  I weep for the fucking world. 

I haven't seen the original video, maybe a lot of media is wrong in digesting Trump's sentence. But I think campaign sentences always have ambiguous meanings. This means that the sentence can later change in time. I did read 8 important points, but it seems that they all point to policies that support the development of Crypto in the United States.

This condition certainly makes me happy because the world's crypto episentrum is currently in America. The policies that emerge always have a major effect on crypto movement patterns. So if it is concluded that if Trump is able to become president again, it will be very good. But I also hope that Trump's opponents can also provide good policies later if Trump loses.