Topic: Trump suggests paying off the US national debt with Bitcoin (Read 405 times)

Don't you think it if were possible to significantly increase the US oil production, the current government would have done it already so that the senile man doesn't have to end up printing $1 trillion every 100 days?

I am not an expert in the field and I have only done a small research but I can say that the production can not be increased significantly enough to make a difference. After all we are talking about at least 5 million barrels per day.

Another thing to consider is that US oil supplies are running out. Correct me if I'm wrong but with this rate of consumption of oil reserves US will only have oil for 4.9 years.
Something you may not know about oil is that as we tap into the source and start "drilling" the levels go down. As the source is depleted, it becomes harder to extract more. Again I'm no expert but in the next 4-5 years the US oil production should fall down and there is nothing anybody can do about it.

It is impossible to earn $35 trillion national debt using Bitcoin!
The only thing that is going to happen by centralizing mining in USA is that the US regime will force censorship on bitcoin miners (OFAC and a lot of other things) and would effectively damage Bitcoin to the point that it could get dumped.

The most possible outcome is that he "orders" Putin to pull out of Ukraine and end his occupation to end the conflict that way and Putin will show him his middle finger. Then he will send certain weapons to Ukraine, like longer range missiles that would hit Russian infrastructure like their oil facilities that would shoot the oil price to the moon worsening the economy and then Russia retaliates with a nuclear strike and human race ends as the idiots on the two side of the earth launch their nukes at each other...

---

Seriously guys, I know you want to advertise your candidate but be realistic. For example how the hell is he going to end the Russian invasion? Will Ukrainians accept their soil to be part of Russia? That is majority of their industries, water supply (river) for agriculture, and strategic geography giving them access to the Black Sea? If they are, why the hell aren't they doing it NOW to end the war today and end the casualties? We already know Russia is not going to give those places up and go out. If the "force" against Russia grows they'll just nuke USA. So I ask again, how the hell is he going to solve that issue?

Harris is going to win and then you are going to tell us why this means there's going to be a new bull run for Bitcoin because of her win. That's my prediction .

Exactly. There's a high chance crypto will turn bullish during a second Trump presidency. Even energy prices will decline. Trump himself promised the US will boost oil production if he wins the White House again ("Drill baby, drill"). And if he goes ahead with his plan of establishing a BTC national reserve, the country will position itself as the world's leading crypto hub. It can use the profit earned from sales (or mining in-house) to pay off the national debt.

If Americans want the economy to start booming again, they should vote for Trump. You can see the chaos that came along with this administration. Unnecessary wars, rising inflation, a plunging stock market, all happened after Biden became president. The world needs peace and economic prosperity. Even Trump promised the Russo-Ukraine conflict will end within 24 hours. Hopefully, there will be a bright future ahead for America after Republicans take control of the WH and both chambers of Congress. Perhaps, BTC is set for a massive bull run?

Trump has once suggested that it was wrong to sell Bitcoin in the US coffers. He wants to also make the US the crypto capital of the world by reducing regulations and promoting Bitcoin mining. There are also indications that he wants the US government to keep buying and holding Bitcoin. His position of paying US debt with Bitcoin might not necessarily mean paying their creditors with the coin. But to pay the debts from the profit the government has made from buying and holding Bitcoin for a long time. However, Trump is just politicking because he knows nothing about Bitcoin.

Bitcoin has the potential to get a very high price but I doubt if it can get to this price anytime soon. Some of us will not be alive to see the price get to that amount. So, Trump is just daydreaming if he is assuming that the price will get to that price for him to clear US debt.

Trump is definitely the way to go if we want crypto to prosper. Democrats are anti-freedom and anti-crypto. The world can’t afford to have another 4 years with a communist US president.

The most important thing Trump promised isn’t less regulations on crypto. It is cheap energy. High energy prices are raising the prices on goods and under Biden’s watch energy prices rose sharply.

Between the two candidates in this election, I would lean towards Trump because I hope he will bring something new to the crypto industry with lighter regulations than the current administration. But I will not deny that Trump is making ridiculous claims and showing his ignorance about bitcoin, he was more like a newbie getting used to it than having a basic knowledge of it.

This idea is nonsense because as pooya87 said below, the US government's debt has exceeded its ability to repay. There is no way they can repay that debt and it won't stop at $35 trillion.
We can support him, but we should not be so fanatical and worshipful that we cannot distinguish between what is real and what is imaginary.

Welcome to democracy, the American version

That is how they win elections. They look around to see what major issues people are concerned about, then they give them some pretty promises which they will never keep just to get their votes. They win the elections and it is all forgotten and the corruption begins.

US National Debt is a major issue. There is nothing anybody can do about it anymore because it has crossed that point of no return thing. And yet they give you promises you'd like even most outrageous ones like this which is hitting two birds with one stone.

P.S. He is entirely lying though. During his presidency there are some evidence that suggests US government got into the crypto market (before and during COVID recession) and started some pump and dumps trying to make some money that way...

As usual, Trump is talking nonsense deranged stuff. Dude is an imbecile. He relies on the stupidity of the human race to get any support at all.

No way US could ever pay off its debt with Bitcoin without intentionally devaluing the dollar a huge amount all at once which would destroy the economy for a long time, perhaps permanently. Also even if Bitcoin was ever so valuable that it could pay down the debt (which it won't ever be), would the US want to simply give away all that wealth?? That would be giving up a huge source of wealth of the US govt. If US could ever own an amount of Bitcoin that could pay off the debt that would make it pretty much the most valuable resource the US has, so why would the US then give that all away?!

As he does every day, Trump is showing his intelligence level to be at absolute zero. He just says whatever insane thing comes into his head. He deserves to be either behind bars or in a padded cell.

I doubt he will do that when he becomes president, because when you use Bitcoin to pay off the national debt, it will make Bitcoin legal tender in the US, and that means the US government will directly allow transactions and payments of debts using Bitcoin. This will certainly be quite difficult to realize, because so far the US has been very protective of their US Dollar and they will not allow other assets to be used to replace the function of the US Dollar. So most likely what Trump said was nothing more than just political words, there is no need to take it too seriously.

You are fairly alone in this assessment here, I think .

The idea is great. But not possible right now. Especially when the national debt is insanely high. The US has only one option: default on its debt to build a BTC reserve of its own. I can imagine the negative impact a US default would have worldwide, but this would only last for a short amount of time. Long-term speaking, the US will get back on track. I mean if Trump is serious of building a BTC reserve. At least, he has better proposals for the crypto industry than Kamala Harris.

In fact, Harris didn't propose anything. She didn't even attend this year's Bitcoin conference. Only Trump and RFK Jr. did. Crypto voters know which candidate to choose in November. Hopefully, there's a brighter future ahead for the crypto industry in America.

There are not enough crypto to make it ever possible lol. Sounds too stupid

He let it happen. Certain people in the Bitcoin community keep trying to say that Biden is "anti-Bitcoin", or imply that Biden makes the price of Bitcoin go down. That is not supported by the evidence.


Harris will not be any different than Biden. The US did just fine in the last four years. There is no "radical left wing political views" here--that's just BS put out there by Trump's party, the Republicans.


It's absolutely mind-boggling in its stupidity. More mind-boggling, though, is that almost half of the US want to vote for the senile old man who made that statement.

1.Are you suggesting that Joe Biden had any impact over the BTC price going up by 500%? This can't be serious.

2.I know that Trump is a liar and that he doesn't understand anything about Bitcoin/crypto, but is Kamala Harris any better?
AFAIK, Harris has radical left wing political views, which means that she would potentially support higher taxes and more regulations, which is bad for any business in the US, not just the crypto industry.

3.The idea of paying the US national debt with BTC is beyond stupid. I don't even want to discuss such nonsense.

The US already have 200k bitcoins in their vaults. You are not paying attention.

35k bitcoins doesn't seem like a hard goal for the USA to attain. Time will only tell when just 35k coins will be able to pay off 35 trill but imagine if the US did buy like 1 or 2 million coins as a hedge that would be nuts, it would totally drive up the price no doubt but also could affect the volatility of it for sure, I guess we will just have to see what happens there is really not much we can do but watch lol.

At one billion usd/bitcoin, it only takes 35k bitcoins to pay off the US’ debt. Do you think bitcoin can’t reach that price?

Limited supply/Infinite demand theory disagrees.

Most Americans use a broker or app to hold their Bitcoin. The US government can obtain their names and addresses. Simple chain analysis would allow the FBI to track down the rest. Those people could then easily be compelled to hand over their keys.

Or, the US could compel the mining companies to coordinate with them. And/or they could break into the facilities who didn't comply.

Against the whole of the US law enforcement and military complex, individual holders of Bitcoin would have absolutely no chance, even outside the US as the US can exert its influence through foreign policy (and the threat of military intervention) all over the globe.

In short, the US president could switch off Bitcoin in an instant if he wanted to.

Bitcoin can be used to pay for illegal abortions, they will say, and Trump is going to need to build a massive new police force to stop the millions of abortions that occur in the USA every year. That alone will give Trump a pretext for ending Bitcoin and using his own coin instead.

He's just drawing attention to him, in order for the U.S to pay its national debt, they need to actually have the $35 trillion, what does Bitcoin has to do with it? It's nothing more than a mere attempt to attract people who are completely ignorant with technology and cryptocurrencies, and make them believe that such a thing is even remotely possible; he's praying on the illiterate and poor.

A few years ago he was against cryptocurrencies but now he's willing to go all in and pay the U.S debt, like that means anything or is even possible. All countries have debt and it doesn't necessarily matter, let alone U.S.A, no one is going to ask them to pay their debts.

Similar to you, I would probably vote for Trump rather than any of the Democratic candidates because nearly all of them are more hostile to crypto than friendly to it. But I also disagree with Trump's exaggerated statement, he is saying things that cannot happen. Trump campaign advisers should review these exaggerated claims because experienced investors would not be naive enough to believe such vague claims.

But from these it can be seen that he is keen to win the support of crypto investors, he appreciates the votes coming from the crypto community. This is in complete contrast to the democratic party as they do not seem to care about the wishes of crypto investors.

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.

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.

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.

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.

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.


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.


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.

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.

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?

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.

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.

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.

Under Trump’s administration bitcoin will go to^themoon 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.

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.


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

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
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.

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!

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.

More lies coming from puppet Trump  
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.

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


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



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.

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.

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

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.

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.

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?    

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.

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.

If he gets hold of everyone's bit coin, the question is, who's going to buy such huge volume, how does he intend to make such possibly come true because it will take more than the time of his tenure to gather the actual Total numbers of Bitcoin own by people with which he intend to pay the debt and ofcourse these persons wouldn't let go of their assets for free so it's literally just a political strategy to getting bitcoiners to consider throwing their force behind because this projection doesn't look solid  and futuristic at all at any point.

I don't see anything with what Trump said in that interview to mean some sort of taking over of bitcoin and selling off to pay off the US 31 trillion dollars debts, he just said maybe, and what I think he may be aiming at is to pay off debt via the gains of their national bitcoin holdings because I am sure that Donald Trump is going to be putting alot of tax payers money into bitcoin when and if he becomes the president, and he aimed at making good profits from those bitcoin holding that have the capacity to pay off their national debts.
This is not the first time a presidental aspirants will make such comments regarding national debt and bitcoin holding because even when Nyib Bukele the El Salvador president was campaigning for the office of El Salvador president, he did made same similar statement and he was actively involved to see that happening and El Salvador next step is targeted to pay off debt when the sell their bitcoin investment, so this is just a political promises and forecasts.

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.