Trump suggests paying off the US national debt with Bitcoin - page 2.

Mia Chloe

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Huh? Almost all Americans don't even know what Bitcoin is, let alone support it.

Most Americans support financial regulations that keep consumers safe from fraud--that is a documented fact. Most Americans aren't in favor of giving billionaires US taxpayer money (say through massive purchases of their favorite investment instrument). Another documented fact.

Trump is saying what he is saying to garner some of the money certain billionaire Bitcoin whales give him. Republicans are wasting their time (and helping Harris to win) by talking about Bitcoin as there are other issues in American life that are a thousand times larger e.g. abortion.

Are you making a fact known or you are speaking based on hypothetical reasons? Yeah no body likes taxation except the government obviously. However in the case of crypto currency support of which bitcoin is included, a quite large number of US citizens are supporters. Let's start with holders, as of 2022 the number of adults in the US owning crypto currencies was about 21% , according to NBC.

Now also talking about mining, 2 of the top 10 bitcoin mining pools are located in the US these include Foundry USA which is currently the biggest mining pool and Luxor. The truth is to a nice extent bitcoin support in the US is quite high compared to a majority of countries.
I'm not much of a fan of politics like I said earlier however I bet you adults in countries like Nigeria will be damn too greatful if they had a government that supports crypto as much as the US does.

Yes Trump may have personal profitable reasons why he is in support of bitcoin however that doesn't mean US has too few bitcoin supporters.

Mr.right85

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

I might be pro-Bitcoin and very supportive of Trump but, it doesn’t make a lot of sense that you ignore your nation’s currency just to use Bitcoin in paying off a national debt. Dollar is still the currency of the United States and as such, it would do just fine in whatever engagement.
As far as politics and his campaigns go, this might be just too much.

Fundamentals Of

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Trump is like Biden in one way or another. But aside from being politicians, Trump just like Biden could also speak words that haven't passed through his head. He just loves to talk. I don't know whether he knows what he's talking about. One thing is for sure though, he wants your vote.

Trump is talking about a crypto check. There is no such thing. And Bitcoin can't help with the US' $35 trillion dollar national debt.

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Huh, I honestly didn't believe it at first, but then I heard him say it and read a Forbes article about it. Well, the idea is surely very fresh, but I'm not sure it's feasible. It seems that the plan is to pour a lot of money into Bitcoin to pump up its price ($1 trillion per 100 days, to be more precise), and thus profit greatly from this investment. That kind of money is likely to make a difference, but the USA is a democracy, and I don't believe that pouring those funds into Bitcoin is something he'd get approved, even if he ends up in power.

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

https://x.com/BitcoinMagazine/status/1819420545219227767

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

It would have been good to listen to the entire interview to know the reason why he thinks it is possible to pay off the US debt with Bitcoin. Maybe he intends to seize more coins or he want the government to buy a hodl. However, the Republican candidate is speaking based on his level of knowledge about Bitcoin.

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Obviously taking everybody's Bitcoin away from them and selling it, after taking control of the network, would only yield the US a tiny fraction of the $35 trillion, but Trump is clearly signaling his mindset here: he sees Bitcoin as something that is his to dispose of any way he pleases.

We all know Trump can't take everyone's Bitcoin. The coin is decentralized and cannot be controlled by an individual or government, except if everyone decides to sell to them.

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Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

The election is in November, we just have to wait to see who wins. Trump would have had a smooth ride contesting against Joe Biden. But the tide has changed since he stepped down from the race. Anyway, Kamala Harris has not shown any sign that she is a supporter of cryptocurrencies.

TravelMug

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Quote from: Oshio-man on August 03, 2024, 06:27:26 AM

It show that Trump doesn't have the knowledge of bitcoin, bitcoin is a decentralized currency you cannot control in your country, how can you use bitcoin to clear $35 trillion debts the current administration is owning, you need to invest in bitcoin and wait for long term for the bull season to come before you can sell, what you have invested to make profits, or Trump will sell all the US properties to invest in bitcoin? which I know is impossible because the judiciary and US citizens will not allow it to happen. It's very clear that Trump want to play games with cryptocurrency users in the country to get more population in this coming election.

I think what he is saying is that they have in their possessions billions worth of Bitcoin or other crypto at their disposal. But it's not enough to clear or pay off their US national debt here. Unless they keep on buying and holding and sell them in the bull run.

Of course, Trump knows how critical Bitcoin is, in his campaign and it could sway voters for him.

It's just a question on US crypto voters, are they going to pick someone that is pro or anti-crypto? So it's really their choice here. But obviously we want to have a President that is going to b pro-crypto so the pick is very easy.

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

https://x.com/BitcoinMagazine/status/1819420545219227767

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

Obviously taking everybody's Bitcoin away from them and selling it, after taking control of the network, would only yield the US a tiny fraction of the $35 trillion, but Trump is clearly signaling his mindset here: he sees Bitcoin as something that is his to dispose of any way he pleases.

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

This man isn't sane. First of all, selling of billion dollar worth Bitcoins will dump the price significantly that will be very hard to recover and second of all, will Bitcoin really reach hundreds of trillions of dollars marketcap?

Quote from: ABCbits on August 03, 2024, 05:56:15 AM

Once again, Bitcoin is treated as magic which can bring miracle. And at this point, i expect fair amount of people already aware that some of Trump's promises have major flaws.

From the topics that are created on Bitcointalk, it's clear that too many people think that Bitcoin is magic. Everyone expects that it's wise if everyone holds Bitcoins and does nothing, everyone thinks that we all be rich if we all follow those steps and no one thinks that without hard work, it's impossible to become wealthy. If everyone holds Bitcoins, sits at home and does nothing, no good and service will be created and those held coins will be vanished.
I think that many blind enthusiasts will like this idea of Donald Trump.

Quote from: mindrust on August 03, 2024, 06:07:27 AM

Under Trump’s administration bitcoin will go to^{the^{m^{o^oⁿ}}} and selling only few bitcoins will be enough to pay $35 trillion debt.

At first I thought that it was a joke but you wear Trump's avatar and signature but anyways, is this a joke?
Selling only a few Bitcoins will never be enough to pay $35 trillion debt unless USD becomes inflated like German Papiermark.

Oshio-man

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It show that Trump doesn't have the knowledge of bitcoin, bitcoin is a decentralized currency you cannot control in your country, how can you use bitcoin to clear $35 trillion debts the current administration is owning, you need to invest in bitcoin and wait for long term for the bull season to come before you can sell, what you have invested to make profits, or Trump will sell all the US properties to invest in bitcoin? which I know is impossible because the judiciary and US citizens will not allow it to happen. It's very clear that Trump want to play games with cryptocurrency users in the country to get more population in this coming election.

mindrust

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Under Trump’s administration bitcoin will go to^{the^{m^{o^oⁿ}}} and selling only few bitcoins will be enough to pay $35 trillion debt.

Imagine what would be the price of a single bitcoin in that scenario.

Jizzing your pants yet? McAfee, will be right eventually it seems.

The US has 200k coins in its crypto reserves. If they only sell half of it to pay their debts, the price of a coin should be somewhere at $350m.

Limited supply, infinte demand.

When the dust settles, the price of 1 bitcoin will be 1 billion dollars.

You are laughing now probably. People laughed when bitcoin reached $1000 for the first time too. They ain’t laughing now.

ABCbits

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Once again, Bitcoin is treated as magic which can bring miracle. And at this point, i expect fair amount of people already aware that some of Trump's promises have major flaws.

Quote from: legiteum on August 02, 2024, 10:58:59 PM

Quote from: PX-Z on August 02, 2024, 06:59:47 PM

Quote from: legiteum on August 02, 2024, 06:10:11 PM

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

Where did you get this argument.

It's not "an argument", it's just factual... data.

There's reason why phrase "Correlation does not necessarily imply causation" exist.

Reatim

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Quote from: avp2306 on August 03, 2024, 05:29:16 AM

By how? are they planned to sell their holdings to pay their debts? or they planned to use bitcoin to do that? I'm also confused if the institution accept bitcoin as payment since provably that for now they rather want to accept fiat rather than having bitcoin since this is not well adopted with by banks or those big financial institutions.

My guess is that they want to use bitcoin to earn more. I have heard of Trump’s big plans which is tied with bitcoin. Not only Trump but other politicians under his political party as well believe that bitcoin can bring back america to what it was before

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Those statement create confusion and its like if he really want to do that then America under trump plan to do accumulate and dump schemes with bitcoin.

But maybe there's just misunderstanding on that statement so I guess its early to say something bad about their intention on why they suddenly support bitcoin.

I don’t think he will be dumping bitcoin in fact he actually might buy more. Anyway we all know why the sudden interest in bitcoin has risen from Trump. It’s election time and the best I could hope for is that he can actually make bitcoin supported in usa and all his words are just not meaningless promises.

deepskydiver

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You're attributing bitcoin rises to you party politics? So this fallback again is the current administration's fault.

American politics is a cesspool controlled by money and the media and lobbies that it pays for. Believing any candidate is perfect marks someone as paid or deluded.

Regardless could you take your injection of party politics into bitcoin to reddit where it belongs?

Have a nice day!

avp2306

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

https://x.com/BitcoinMagazine/status/1819420545219227767

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

Obviously taking everybody's Bitcoin away from them and selling it, after taking control of the network, would only yield the US a tiny fraction of the $35 trillion, but Trump is clearly signaling his mindset here: he sees Bitcoin as something that is his to dispose of any way he pleases.

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

By how? are they planned to sell their holdings to pay their debts? or they planned to use bitcoin to do that? I'm also confused if the institution accept bitcoin as payment since provably that for now they rather want to accept fiat rather than having bitcoin since this is not well adopted with by banks or those big financial institutions.

Those statement create confusion and its like if he really want to do that then America under trump plan to do accumulate and dump schemes with bitcoin.

But maybe there's just misunderstanding on that statement so I guess its early to say something bad about their intention on why they suddenly support bitcoin.

dkbit98

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More lies coming from puppet Trump Roll Eyes

Didn't he recently promise in public not to sell any bitcoin held by US government and that he will make bitcoin a ''stockpile''.
Someone is obviously giving him a script and he is simply following instructions.

legiteum

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Quote from: PX-Z on August 02, 2024, 06:59:47 PM

Quote from: legiteum on August 02, 2024, 06:10:11 PM

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

Where did you get this argument.

It's not "an argument", it's just factual... data.

Quote from: SquirrelJulietGarden on August 02, 2024, 10:00:30 PM

Quote from: legiteum on August 02, 2024, 06:10:11 PM

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

He can not do it by himself, as a normal citizen, ex-President or next President of the USA.

Congress can't do it either because, you know, math.

Quote from: Mia Chloe on August 02, 2024, 10:01:15 PM

[...] based on the fact that a majority of US citizens are also bitcoin supporters.

Huh? Almost all Americans don't even know what Bitcoin is, let alone support it.

Most Americans support financial regulations that keep consumers safe from fraud--that is a documented fact. Most Americans aren't in favor of giving billionaires US taxpayer money (say through massive purchases of their favorite investment instrument). Another documented fact.

Trump is saying what he is saying to garner some of the money certain billionaire Bitcoin whales give him. Republicans are wasting their time (and helping Harris to win) by talking about Bitcoin as there are other issues in American life that are a thousand times larger e.g. abortion.

Mia Chloe

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Firstly, Op this post is more of a politics and society discussion than a bitcoin discussion, therefore I suggest that this post be moved to politics discussion.

Personally I really don't fancy getting into political related discussions because well they are obviously about politicians. During campaigns and pre Election rallies it is common for politicians to make a whole lot of fancy promises to the masses which then triggers them to vote them in since the masses would believe that they are on the same page . This sometimes turns out to be the cases rather in some other cases, the masses are simply deceived.

For quite a while now Trump like you said has claimed to be a positive supporter of bitcoin however let's all hope it's genuine and not an avenue to win the votes of the American citizens based on the fact that a majority of US citizens are also bitcoin supporters.

SquirrelJulietGarden

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

He can not do it by himself, as a normal citizen, ex-President or next President of the USA.

Quote

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

Can I ask you, if in the last four years, the President is not Biden, will Bitcoin has less than 500% up?
You can not answer it certainly, because there is no reason to connect the Bitcoin growth with Biden. If you know, under Biden adminstration, SEC. is very unfriendly with Bitcoin market and they only were forced to approved Bitcoin Spot ETFs this year when they had no other choices after losing against Grayscale in a big lawsuit.

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If you want four more years like the last four years, the choice is clear: Kamala Harris.

No logic here. First Bitcoin grew last four years not because of President Biden, not because of Biden administration. No logic to say Kamala Harris with nearly same propaganda of Biden, will do something better for Bitcoin.

Vod

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Quote from: PX-Z on August 02, 2024, 06:59:47 PM

Where did you get this argument. Bitcoin increasing under someone's administration doesn't mean their admin has contribution behind.

He prob got that argument from the Dump himself, who constantly brags about things that went up during his presidency. (We all know, thx to Stormy, the one small thing that did not go up...)

The Dump should buy himself a Cybertruck to prove to Stormy that size isn't everything, pay off the debt, then force China to submit. << Which are the fantasies? Tongue

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

https://x.com/BitcoinMagazine/status/1819420545219227767

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

Obviously taking everybody's Bitcoin away from them and selling it, after taking control of the network, would only yield the US a tiny fraction of the $35 trillion, but Trump is clearly signaling his mindset here: he sees Bitcoin as something that is his to dispose of any way he pleases.

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

Where did you get this argument. Bitcoin increasing under someone's administration doesn't mean their admin has contribution behind. Besides that, with all his term he sounded like reluctance to support Bitcoin.

Paying with bitcoin doesn't mean it will vanish after paying, it means only transfer. And where they will get such amount in bitcoin lmao. Stop spouting nonsense and BS.

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Quote from: legiteum on August 02, 2024, 06:10:11 PM

https://x.com/BitcoinMagazine/status/1819420545219227767

Trump says the US will pay off it's $35 trillion dollar national debt with... Bitcoin.

Obviously taking everybody's Bitcoin away from them and selling it, after taking control of the network, would only yield the US a tiny fraction of the $35 trillion, but Trump is clearly signaling his mindset here: he sees Bitcoin as something that is his to dispose of any way he pleases.

Meanwhile, Bitcoin went up 500% under president Biden. Maybe it's better to keep this insane incoherent old man out of the White House before he does something terrible?

If you want four more years like the last four years, the choice is clear: Kamala Harris.

I mean this doesn't even make sense. How could you use bitcoin to pay off the national debt. This just goes to show of big of a moron Donald Trump is. I always knew that he had no clue of how bitcoin is designed and actually works, and he truly does think it's just some magical internet money. I mean using bitcoin to pay off the national debt would actually cost more than it would be to pay off the national debt with good ole regular green fiat money.

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