Topic: Trump will compete directly with Bitcoin - page 3. (Read 582 times)

Trump has stated he will own the US on day one.  He'll do anything he wants but bitcoin's price won't be affected.

Do you really think investors will flood towards a centralized probably shitcoin coin over a decentralized digital asset as bitcoin? No, I don't really think so. Maybe we are just taking this Trump-bitcoin of a thing too far to even assume that Trump could successfully launch a coin that will plummet bitcoin to a 90%  fall is very much unthinkable. Trump and his political ambition will come and go but bitcoin ecosystem will still remain.

Trump doesn't own the US and even if he becomes the president there are still limits to policies and decisions he can take because from what I understand even those that controls the economy of the US aren't equally politicians. And in any society those that have economic influence does also greatly influence what political decisions and actions are to be formulated and implemented.

It looks like just another ICO, with 20% of the coins going to the founders.   Anyone read any concept of a plan?

1. Whatever shitcoin Trump creates cannot directly compete with Bitcoin because it would be centralized.

2. Trump's presidency doesn't have a "huge, huge implications for the future of Bitcoin." It's immaterial to the future of Bitcoin.

3. Trump, as with any other US president, doesn't actually have a "complete control of the US government". The truth is that governments are under the control of the elites who aren't even into politics.

4. 3 years ago, Trump called Bitcoin a scam. The price of Bitcoin didn't retreat. On the contrary, a week later, $5,000 was added to its price.

It won't be able to compete with bitcoin or even change the future of bitcoin. Even if there will be a new shit token it doesn't mean it will compete with bitcoin because it is up to the people if they are going to use it which I don't think many will. If that happens then bitcoin price may change. It is like answering to this question, which one would you prefer to hold the new shitcoin token or bitcoin? then the answer is bitcoin so it's still far from what you explained. One more thing, trump promoting new project is even 50/50.

Most people hold Bitcoin through a broker or an app. The top three Bitcoin miners comprise over 51% of the hashrate and they are readily identifiable and thus able to be controlled by the US government. Most Bitcoin is held by US citizens who are compelled to follow the laws of the USA lest they be imprisoned.

The reason why crypto is the biggest US donor to the US elections this cycle is because the US government's continued support of Bitcoin is absolutely critical to it's maintaining current price levels.


Elon Musk was never president of the United States (?). Elon Musk never tried to outlaw Bitcoin (?). Elon Musk never said anything bad about Bitcoin in any way (?).

What are you talking about?

If the US made Bitcoin illegal, then Bitcoin would probably drop 90% in value or more. Again, I suppose if you don't hold Bitcoin for the money, but rather as a curiosity, then you probably don't need to care about the US making Bitcoin illegal in the USA. But that's probably not how most people look at Bitcoin. Most people look for a return on investment, not a massive loss.

Let us not focus more in bringing politics in bitcoin, because bitcoin is a decentralized currency, also, we need to make sure that bitcoin is what we should recognized as part of what we needed to attain some level of achievements in life.

Trump may win and support for bitcoin and if he doesn't, will he still remain on this same ground that he is currently on with bitcoin, some will only use bitcoin in other for them to achieve their ambition and disguise they never have passion on it before, we only need to keep our fingers cross.

Op has presented it in such a way that you think it will be easy to happen. Elon Musk really did tried it the last time and it didn't actually plummet bitcoin price. Elon accepted bitcoin in his company and later made a u turn while pumping doge against BTC, what really happened in the end. The effect of Trump and US election on BTC price is simply temporary and doesn't and will not decide bitcoin future.

If I am to choose between the two candidates, atleast I'll go with the one that publicly promote bitcoin.

LOL, okay, you think Putin is secretly controlled by "people" who tell him what to do. And I presume they tell him to throw anybody who doesn't agree with Putin out a hotel window. And they told Putin to make that helicopter crash with that dissenting general. And they told Putin to invade Ukraine.

And these "people" are, of course, 100% pro-Bitcoin and would never let anything bad happen to it.

That's some amazing stuff right there. I mean, usually we hear non-stop conspiracy theories here about how "people" are secretly against Bitcoin and secretly need to stop it because it... upsets the Illuminati's need to control the world through the US dollar and interest rates (or something). This is the first time I've heard of a world-wide conspiracy to protect Bitcoin. That's a new one .

Anyhow, back here on Earth, Putin absolutely controls Russia and its nuclear stockpile, and Trump absolutely controls one half of the US political system, and he will absolutely control the US government if he wins, and the US government will respond to it's political leadership not a secret cabal of jewish people (their space-lasers notwithstanding), child-eating cannibals, or whatever else. There are no secret conspiracies--the truth is actually a lot more boring than most people want to believe...

I meant that I think that political figures are puppets and they are controlled by some, probably less known people, behind the scenes.

Do you listen to Putin's interviews? He is a former KGB agent and often mentions WE instead of I, that makes me think that Putin isn't the one who controls everything in Russia, it's KGB behind the scenes and he is part of the KGB team.
What do you think, why did Gary Gensler, a very anti crypto person approve Bitcoin ETF approval? I think that's because BlackRock forced them to do it.

I think that no one will let Trump to do crazy things.

If Trump could plummet the price of Bitcoin, then let him be my guest. It'd be a gift from God for me to have the chance to buy Bitcoin at $6000. The unrealized damage would shake most hands, but the future of Bitcoin is inevitable, and if you're convinced, like I am, shouldn't worry you too much, beyond being incapable to liquidate your holdings for a lot of time, in case of an emergency.

Behind the scenes of the US government? You'd be competing with the FBI and the CIA. Good luck with that.


BlackRock is run by individuals who can all, individually, come under investigation by the DOJ for... whatever they make up.

Why don't you go ask some oligarchs in Russia how safe they feel from Vladimir Putin just because they are billionaires. Controlling the government trumps any sort of money you might have. The only reason BlackRock "has" $10T in assets is because the US government says they do.

Of course, realistically, BlackRock might be cut in on the deal too, and they would dump their BTC in favor of Trump's coin when they say it was useless to try to compete against the US government. Trump wouldn't care as long as he owns the majority of his coin and controls it.

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…

Gary Gensler would be very happy if Trump ordered him to make Bitcoin illegal because Gary ate a huge shame when he approved Bitcoin and Ethereum ETFs.
Trump will never be able to ban Bitcoin because in the US there are other people besides presidents too and I believe that some things are done behind the scenes. What's Trump going to do with BlackRock? Do you think that a company with $10 trillion of assets under management is going to let Trump decide anything on his own and they won't interfere? Companies like BlackRock are the ones that play games behind the scenes. Trump might pump his coin because people are easily manipulated and it's very easy to speculate in crypto world but he will never be able to dump Bitcoin to make his currency great.

Almost like a flip of a coin. Six of one or half dozen of the other. Even steven. A tossup.



Why not? Remember that Trump tried to overthrow the US government and his voters don't care: they are going to try to reelect him because of his disregard for US laws.

Trump has been indicted on over 100 criminal counts, and they will all be dropped if he wins the presidency. For somebody like this, the law is absolutely meaningless.



So you don't think the president announcing a crackdown on Bitcoin would effect the price? Seriously?

And the US absolutely is a crypto-friendly environment. I'm not sure what else he or any other president could do short of using the US federal governemnt to specifically pumping a certain coin e.g. Bitcoin or Trump's coin.



It actually wouldn't be that simple, as any sundry dictator across the world could tell you: a direct crackdown on property rights like that would sink the markets and be counter-productive. The most lucrative thing for Trump would be much more subtle, e.g. enabling his own crypto and denigrating the others.

I have personal experience "competing" with the CPC years ago. They didn't just directly steal our product because they didn't have to--and doing so would have scared away other companies from investing there. China simply passed innocuous-sounding laws that greatly advantaged our CPC-controlled competitor, and disadvantaged us. In just a few years, our product in China was toast, and 90% replaced by the CPC-supported product. We eventually pulled out of China because there was no way to "compete" against the government there.

In the case of Bitcoin, it will be much more volatile since almost the entirety of the market price will hang on US regulations since so much of Bitcoin is owned by US-based holders. Michael Saylor could easily be convinced to support Trump's coin and sell all of his Bitcoin if the price was right (he'd suddenly find all kinds of tax advantages for doing so, or maybe the DOJ investigation suddenly launched against him would magically go away). The same goes for Musk and all of the other billionaire Bitcoin whales. All of those guys are just in it for the pump-and-dump, and Trump could easily offer them a much better deal if he has the US government on his side.

Is this a serious topic or a satire? I cannot tell.

In case it's serious - No, Trump will not have unlimited power to force all the agencies to peddle some shitcoin. And even in some political fantasy scenario, banning Bitcoin would have the exact opposite effect on pumping whatever coin that is.
In other words, to successfully pump his own token, he would have to create a crypto-friendly environment first.

But if we're fantasising about (any) president having a complete control and bad intentions - he could just outright take everyone's money.

Yup, is 50/50 chance deserved to be discussed. It's like you will have one or another at similar probability.

About past activities of Trump in cryptocurrency engagement, it's not new and we don't need to wait till his latest interview to know what he did with things in cryptocurrency industry. Maybe some people knew about it and most of them are people who have been in this space a long time, at least last several years in last market cycle; but some people did not know about it before the interview. They are more probably new cryptocurrency participants who have been joining since 2023 when the bear market came to ending and started its warm up for 2024 and 2025 bull run.

It's documented and not new, except newbies in this market.

I don't see impacts of Trump approach and regulation in his next presidency, if he gets elected, is terrible for Bitcoin. With my vision as Bitcoin and altcoins will co-exist and grow together, I see no bad thing from Trump's next regulations, if he will be in the White House again.

It would appear that there is now about a 50/50 chance right now that the next President of the United States will be promoting a product that will compete directly with Bitcoin. Trump's history of self-dealing is well documented, and his second presidency promises to be completely unconstrained by US law since voters would be consciously choosing a convicted criminal who has evaded prison only because of his voters.

This has huge, huge implications for the future of Bitcoin.

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.

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.

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.

If Trump wins, folks, you might want to... diversify your investment holdings. Just saying...

https://x.com/WalkerAmerica/status/1835865372408361210