Trump will compete directly with Bitcoin

legiteum

member

Activity: 182

Merit: 47

Quote from: Marvell1 on Today at 08:39:24 AM

He is a former president, one of two candidates in this year's election and a potential candidate to become the 47th president of the United States. That means he is not a criminal and would not face any legal problems even if he cannot become president. If he were a criminal, he would not be eligible to run and President Biden has also sought to put him in prison. You are an American and I know you understand that better than anyone, but you stubbornly deny it. So even if there were more debate, there would be no final result.

You really should do a little research before you post.

First of all, Trump is in fact a convicted criminal, found guilt by a jury of his peers:

https://apnews.com/article/trump-trial-deliberations-jury-testimony-verdict-85558c6d08efb434d05b694364470aa0

This case was brought in the state of New York, and it had nothing whatsoever to do with President Biden. Trump defrauded a bank and got caught, which is why he was found guilty.

Second, there is nothing in the US Constitution that forbids a convicted criminal from running for, or obtaining the US presidency:

https://www.archives.gov/founding-docs/constitution-transcript

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: legiteum on September 20, 2024, 10:31:04 AM

Quote from: Marvell1 on September 20, 2024, 04:05:30 AM

If he is guilty let the law punish him because I believe that American law will not be so rotten and corrupt as to let a criminal live outside the law.

Trump has been convicted of multiple felonies by a jury of his peers. He will definitely go to prison for his crimes... if he loses the election.

If Trump wins, he will use the power of the US presidency to escape a prison sentence.

You have just illuminated the stakes of this election here in the USA, and why so many people, including hundreds of Trump's former appointees, are alarmed by the prospect of Trump winning the election: it will indeed mean the law in the USA has been corrupted, and popular vote means you can live outside the law.

(And before you start spitting out insults like that to your fellow forum members, maybe trying learning more about the context of US politics first

).

He is a former president, one of two candidates in this year's election and a potential candidate to become the 47th president of the United States. That means he is not a criminal and would not face any legal problems even if he cannot become president. If he were a criminal, he would not be eligible to run and President Biden has also sought to put him in prison. You are an American and I know you understand that better than anyone, but you stubbornly deny it. So even if there were more debate, there would be no final result.

Questat

hero member

Activity: 2954

Merit: 605

Quote from: OgNasty on September 17, 2024, 01:21:54 PM

I don’t believe that Trump could crash the price of Bitcoin by 90% with a late night tweet. If he could, he would’ve done so and made a ton of profit already. I think politicians know that if they try to fight Bitcoin, they will lose and it will look terrible for them and their government. I also think that would only increase the value of Bitcoin…

He can actually make a bitcoin price drop but only a minor one, 90% is just an exaggeration. After that, btc price will recover again and even reach a highly impressive price if the market will also cooperate.

However, I have seen this coming already. Note that his son had launch a crypto business already, so most likely Trump will also do the same, and he will only make it happen if he'll be sitting on his new position, thus completely creating a rival for bitcoin, but its success might still be unsure.

legiteum

member

Activity: 182

Merit: 47

Quote from: Marvell1 on September 20, 2024, 04:05:30 AM

If he is guilty let the law punish him because I believe that American law will not be so rotten and corrupt as to let a criminal live outside the law.

Trump has been convicted of multiple felonies by a jury of his peers. He will definitely go to prison for his crimes... if he loses the election.

If Trump wins, he will use the power of the US presidency to escape a prison sentence.

You have just illuminated the stakes of this election here in the USA, and why so many people, including hundreds of Trump's former appointees, are alarmed by the prospect of Trump winning the election: it will indeed mean the law in the USA has been corrupted, and popular vote means you can live outside the law.

(And before you start spitting out insults like that to your fellow forum members, maybe trying learning more about the context of US politics first

).

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: legiteum on September 19, 2024, 05:25:03 PM

Quote from: adaseb on September 19, 2024, 12:22:15 PM

I dont like this either. I dont know why he is launching a token. There is no gaurantee that he will even win, if he loses the election, most likely Gensler will come after him regarding this token.

If he loses the election then his coin will be worthless, along with the rest of his companies. Trump's brand will be toast and Trump himself will be put in prison. Gensler and everybody else won't need to do a thing.

I agree with you and adaseb that him launching a token is an unwise move for a presidential candidate. I don't believe he is trying to compete with bitcoin or intend to own the entire market like you say but he shouldn't create a project during an election, it makes no sense.

But you should stop spreading the nonsense you are making up. His business has nothing to do with this and his life will return to normal, he will return to his role as a businessman if he cannot win the upcoming election. There is no reason why just because he was not elected he should go to jail and his business should go bankrupt.

I don't know why you hate him so much but what you said shows that you are a jealous, selfish, envious person, nothing more, nothing less. If he is guilty let the law punish him because I believe that American law will not be so rotten and corrupt as to let a criminal live outside the law. You shouldn't judge others so harshly and cruelly, it only proves that you are no better than them.

legiteum

member

Activity: 182

Merit: 47

Quote from: SilverCryptoBullet on September 19, 2024, 10:08:30 PM

Quote from: legendbtc on September 19, 2024, 10:48:07 AM

At the same time, the approval of bitcoin ETFs this year means Wall Street is getting in the game with us.

It's big and we already saw that total capital invested in Bitcoin through Bitcoin Spot ETFs in the USA is considerable bigger than all prediction before these Spot ETF approvals and actual operations of these Spot ETFs. It shows that we are getting better effects from Bitcoin Spot ETFs than expectations before they went to lively operated and invested with money.

You guys are obviously not from the US and thus you clearly don't understand how Donald Trump operates: he doesn't "work with people", he believes in winner take all. That has been the way he has operated with every single thing he's ever done. He isn't entering the crypto business to make you money or anybody else money--he's lost billions for others throughout his career--no, Trump is in it for Trump and only Trump.

How stupid would it be for Trump to only own part of the crypto market when, with the full force of the US government behind him, he could own virtually all of it?

SilverCryptoBullet

member

Activity: 97

Merit: 43

Quote from: legendbtc on September 19, 2024, 10:48:07 AM

From the bitcoin retracement chart you provided it can be seen that as bitcoin becomes more mature the retracement is also becoming smaller although the growth is also proportional to the retracement.

Retracement becomes smaller cycle by cycle and the same for ROI. After each market cycle, Bitcoin has good growth and it means Bitcoin market cap rises to a new bigger market cap and it successfully maintains it even bull market went away and bear market comes and lasts about 2 years.

ROI decreases from previous cycles are: 592x - 555x - 104x and 21x and I saw that people are more realistic in this cycle with predictions that Bitcoin will make its ATH to $100k, $200k, $250k with ROI is less than 21x.

Another chart with similar information.

Quote

At the same time, the approval of bitcoin ETFs this year means Wall Street is getting in the game with us.

It's big and we already saw that total capital invested in Bitcoin through Bitcoin Spot ETFs in the USA is considerable bigger than all prediction before these Spot ETF approvals and actual operations of these Spot ETFs. It shows that we are getting better effects from Bitcoin Spot ETFs than expectations before they went to lively operated and invested with money.

legiteum

member

Activity: 182

Merit: 47

Quote from: adaseb on September 19, 2024, 12:22:15 PM

I dont like this either. I dont know why he is launching a token. There is no gaurantee that he will even win, if he loses the election, most likely Gensler will come after him regarding this token.

If he loses the election then his coin will be worthless, along with the rest of his companies. Trump's brand will be toast and Trump himself will be put in prison. Gensler and everybody else won't need to do a thing.

adaseb

legendary

Activity: 3808

Merit: 1723

Up to 300% + 200 FS deposit bonuses

I dont like this either. I dont know why he is launching a token. There is no gaurantee that he will even win, if he loses the election, most likely Gensler will come after him regarding this token.

Honestly I think his kid got hooked on crypto after he endorsed it and it was his kids idea. However this is not good for his political career at all.

I heard that its initially only going to be sold to institutions, so thats a plus. However dont be surprised if after he loses the election this token ends up losing 99% of its value. If he wins the election then it actually stands a chance at succeeding.

legiteum

member

Activity: 182

Merit: 47

Quote from: Smack That Ace on September 18, 2024, 10:08:03 PM

This is just one defi project and we have thousands of defi projects in the market. Do you have any evidence that he said he created it to compete with bitcoin? Did he make any statements about that?

Are any of those other defi projects backed by the president of the United States? I fully agree that if Trump loses the election, then this product--along with all of his other companies--will be irrelevant and most likely bankrupt (and Trump will be in prison).

But if Trump wins, everybody in the crypto industry will be competing with the president of the USA, and his party.

Quote from: NotATether on September 19, 2024, 04:47:47 AM

Again, not even Tesla, FTX, Terra Luna, Celsius, etc together can make the price retreat that much. The best they could do was about 70% from the ATH if I remember correctly. And it's already recovered mostly from that.

Again, these are all private companies, not the US government. There's simply no comparison.

Trump has, for the first time in his life, a very clear pathway to make himself the richest man in the world. Only crypto can do this for him, combined with winning the US presidency.

legendbtc

hero member

Activity: 1218

Merit: 507

Leading Crypto Sports Betting & Casino Platform

Quote from: SilverCryptoBullet on September 19, 2024, 06:51:12 AM

Quote from: NotATether on September 19, 2024, 04:47:47 AM

Again, not even Tesla, FTX, Terra Luna, Celsius, etc together can make the price retreat that much. The best they could do was about 70% from the ATH if I remember correctly. And it's already recovered mostly from that.

Bitcoin has some market cycles so far and we have different market retreat percentages too

Bitcoin Retreat chart shows -93%, - 84%, -83%, and -77% from previous ATHs to bottom prices of previous bear markets.

From the bitcoin retracement chart you provided it can be seen that as bitcoin becomes more mature the retracement is also becoming smaller although the growth is also proportional to the retracement.

At the same time, the approval of bitcoin ETFs this year means Wall Street is getting in the game with us. That is why many predict that when the bull run ends, we will be unlikely to see an 80%-70% Bitcoin retracement like previous cycles. Bitcoin is becoming more stable and less volatile. So I also believe that there is nothing left that can cause bitcoin to dump as much as previous cycles and we are entering a new era.

SilverCryptoBullet

member

Activity: 97

Merit: 43

Quote from: NotATether on September 19, 2024, 04:47:47 AM

Again, not even Tesla, FTX, Terra Luna, Celsius, etc together can make the price retreat that much. The best they could do was about 70% from the ATH if I remember correctly. And it's already recovered mostly from that.

Bitcoin has some market cycles so far and we have different market retreat percentages too

Bitcoin Retreat chart shows -93%, - 84%, -83%, and -77% from previous ATHs to bottom prices of previous bear markets.

NotATether

legendary

Activity: 1568

Merit: 6660

bitcoincleanup.com / bitmixlist.org

Quote from: legiteum on September 17, 2024, 11:00:57 AM

As president, Trump will have complete control of the US government in a way that no other US president has (which is exactly what his voters want). Even without Congress, Trump could direct agencies like the DOJ, SEC, and others to effectively make Bitcoin illegal in the USA in order to pump up his own coin, which of course won't have the "problems" that Bitcoin and other cryptos will have be said to have.

Why would he want to do that though? It would piss off some of his rich friends who do own bitcoin.

Quote from: legiteum on September 17, 2024, 11:00:57 AM

Trump could make himself the world's first trillionaire by doing this, and the anybody who knows Trump knows that the only thing he has ever cared about is making more money for himself.

Saying this about a guy who can't even truly call himself a billionaire, is a long stretch I think. He would have to prove to people he could get 10 billion dollars first before anyone takes this claim seriously.

Quote from: legiteum on September 17, 2024, 11:00:57 AM

Could Trump "kill" Bitcoin? No. Could he cause the price of Bitcoin to retreat by 90%? He could do it in a single late-night tweet.

Again, not even Tesla, FTX, Terra Luna, Celsius, etc together can make the price retreat that much. The best they could do was about 70% from the ATH if I remember correctly. And it's already recovered mostly from that.

bbc.reporter

legendary

Activity: 3010

Merit: 1460

Heheheehe I am not quite certain if I can agree on this Trump will compete against bitcoin, however, I agree that this creation of his own token during a presidential campaign deserves criticism and skepticism. The skeptical me thinks this is a behavior of someone very much similar to a scammer in the cryptospace. I am not implying that this project will be a scam, only the behavior. Also, I will not be shocked if this World Liberty Financial will be used for moneylaundering. It appears that there are people from mainstream business who are learning heheeh.

Smack That Ace

legendary

Activity: 1890

Merit: 1102

Free Free Palestine

Quote from: legiteum on September 17, 2024, 11:28:01 PM

Trump announced a coin yesterday that competes with Bitcoin. That's a simple fact.

This is just one defi project and we have thousands of defi projects in the market. Do you have any evidence that he said he created it to compete with bitcoin? Did he make any statements about that?

What I want to discuss is only related to cryptocurrencies. I don't care who he is or what he looks like to you because that's America's politics, not ours. You can badmouth him and try to bring him down by all means because you are a democracy advocate but don't bring bitcoin into your story.

nutildah

legendary

Activity: 3010

Merit: 8114

Quote from: legiteum on September 18, 2024, 11:41:00 AM

And yes, the US government aligning against Bitcoin would make it lose 90% of its market value, if not more.

The arrival of the ETFs assured this will never happen. There are some forces in the universe that are just unstoppable; BlackRock being one of them. I get it: you don't like Trump. That's cool, I don't like him either. But you're overdramatizing the severity of the issue for the sake of trying to get people not to vote for him. This is not the way.

BTW, whatever he's promoting will never actually compete with Bitcoin. It's a non-issue.

legiteum

member

Activity: 182

Merit: 47

Quote from: kryptqnick on September 18, 2024, 10:42:36 AM

I am not a Trump supporter, in no way. However, I believe in facts-based criticism. Framing Trump as a person that could make Bitcoin illegal is misleading, considering that Harris could hypothetically do the same thing, and that one of Trump's campaigning points is being pro-Bitcoin.
I also don't believe any person in the world has the power to cause Bitcoin to lose 90% of its value.
Trump's DeFi project is indeed a shitcoin project in my opinion, but that doesn't mean that Trump will outlaw Bitcoin. Hopefully, though, the idea of this World Liberty Project will feel concerning to Bitcoin enthusiasts considering voting for Trump because of his pledge to support Bitcoin.

Harris is not in the cryptocurrency business, competing with Bitcoin. Trump is.

Harris does not have a track record of self-dealing while in office. Trump does.

Harris is not a convicted criminal. Trump is.

Harris has not been found guilty in a court of law of ripping people off of their retirement savings. Trump has.

Harris does not exert absolute control over her party. Trump does.

Harris is not running on an explicit platform of lawlessness. Trump is.

And yes, the US government aligning against Bitcoin would make it lose 90% of its market value, if not more. Bitcoin's value is based on millions of US-based investors who would instantly sell if Bitcoin's legal status came into question.

GeorgeJohn

hero member

Activity: 1498

Merit: 711

"Play Poker on Telegram"

That has been intension of Trump right from time to remove bitcoin out of cryptocurrency market or to devalue bitcoin, any cryptocurrency have its own way to operate and depend the furtherance, but bitcoin doesn't need furtherance because it has already been firm across the nations, bitcoin is the most valuable cryptocurrency and any coin established today will be under bitcoin, so what you know is that bitcoin can't be abandoned by any coins, what person that laughed ethereum and dogecoin in mind to launch this two coins I mentioned is to compet with bitcoin and at end bitcoin is still number one amongst other coins.

kryptqnick

legendary

Activity: 3150

Merit: 1392

Join the world-leading crypto sportsbook NOW!

I am not a Trump supporter, in no way. However, I believe in facts-based criticism. Framing Trump as a person that could make Bitcoin illegal is misleading, considering that Harris could hypothetically do the same thing, and that one of Trump's campaigning points is being pro-Bitcoin.
I also don't believe any person in the world has the power to cause Bitcoin to lose 90% of its value.
Trump's DeFi project is indeed a shitcoin project in my opinion, but that doesn't mean that Trump will outlaw Bitcoin. Hopefully, though, the idea of this World Liberty Project will feel concerning to Bitcoin enthusiasts considering voting for Trump because of his pledge to support Bitcoin.

Tungbulu

full member

Activity: 168

Merit: 127

RATING:⭐⭐⭐⭐⭐

Quote from: legiteum on September 18, 2024, 07:35:24 AM

Quote from: Davidvictorson on September 18, 2024, 03:21:51 AM

I think that bitcoin has gone the stage where a single individual or entity can crash its price. This isn't 7 years ago. We have gone past that now. And now even a hundred tweets from Trump isn't doing nothing. And yes, the only loser here is going to be Trump as well as those who are behind the idea. The community and even those who are new are too enlighten and educated to fall this shitcoin. In my estimation, Trumps's shitcoin is a dead on arrival project already.

If he's president, it won't be "tweets", it will be laws passed by the US Congress and official actions by the US Department of Justice, the US Securities and Exchange Commission, and so on.

People here who think that Bitcoin's current price levels could withstand an onslaught by the entire US government aren't living in the real world, I don't think...

One thing I’m sure of is that, if a president eventually announces that they plan to make Bitcoin the country’s strategic reserve just like in the case of El Salvador, it could potentially have a positive impact on the price of Bitcoin as it could significantly have a bullish effect on Bitcoin’s medium term price you know. While a lot of people are speculating that Donald Trump could potentially make such an announcement when/if he eventually becomes president, others are skeptical about it as they believe that Trump’s sudden indication of interest on Bitcoin is merely just a political strategy.

Topic: Trump will compete directly with Bitcoin (Read 566 times)