Topic: Trump will compete directly with Bitcoin - page 6. (Read 2298 times)

Did you read the articles and the posts? I said that would happen after Trump positioned his own coin over BTC using the US government. All he's done so far is won the election (and BTC went up a whole 7%, which is actually a lot less hype than I was expecting).

Killing Bitcoin's price will take Trump a while because he needs to actually take office (1/25), replace all of the officials with his cronies, and also figure out how to get Congress to pass strategic laws to benefit his coin. All of this isn't going to happen in a single day.

I could be wrong, and I hope I'm wrong, but the risk is absolutely there...

"Bitcoin will go down 90% with Trump as president", meanwhile: https://x.com/Cointelegraph/status/1854003271641243663.

Sorry, but I'm just laughing out loud right now.

We can tell that with how Trump has suddenly shifted his interest into bitcoin. It only tells us that Trump has another motive for bitcoin, and not actually to promote it and compete with US dollar because that's still quite impossible for now.

Trump will gain all its advantages if he'll be winning the presidential election. And by using bitcoin, aside that he will win the trust of the bitcoin community, he will also take advantage with bitcoin by launching his own cryptocurrency without putting himself as the bad guy, but the good one always that cares and protects bitcoin even if we all know that's only one of his strategies to steal the spotlight and make this election favored to him.

His fan base is a few million people. If that is what mattered, the Ronaldo Coin would be ruling the world.

For the federal crimes Trump has been indicted on, the general assumption is that Trump will (corruptly) order the DOJ to drop those charges. Nothing even remotely like this has ever been done before in the USA, and there has always been a very strong separation between the DOJ and the rest of the government, but that wasn't true in the first Trump presidency, and most assume it will get much worse in the second if there is one.


Congress can pass a law that overrides a state law if they choose to. They cannot, however, override a conviction after the fact.

New York has convicted Trump, but he has not yet been sentenced. Trump's lawyers have successfully stalled his sentencing trial, which will now occur after the election. However, Trump is broadly expected to be sentenced to several years in prison.

As to what happens when a sitting US president is sent to jail, there is no Constitutional precedent for this, and of course it has never happened. Unlike the federal crimes Trump has committed, he cannot self-pardon his way out of these (and self-pardoning itself is blatantly against the intent of the US Constitution but the Republican majority Supreme Court would probably still say it's okay).

In short, if Trump wins, the US will instantly be in a constitutional crisis as our laws will suddenly mean nothing if somebody can escape incarceration by mere popular vote. The correct thing to do will be to use the 25th Amendment to relieve Trump of his duties while he is in prison, but I suspect Republicans would rather end our 240 year Constitution instead and simply ignore the state of New York illegally.



Yes, this is a very bad time for the USA: roughly half of American voters want a convicted criminal as their president. The US founding fathers probably assumed voters would never ever do that. Go figure.

I certainly cannot understand the US constitution and laws better than you because you are their citizen. But I want to ask, there is no provision in the US Constitution that prohibits criminals from running for office. So is there a constitutional provision that says a person convicted of a crime will not go to jail and will be pardoned to run for office and possibly even become president?

New York is not under the jurisdiction of the US government? The president or congress has no authority or say over crimes in New York? Why did New York convict Trump but not put him in jail?


By the way, if your country is so bad that there are no more candidates and they let a criminal run for president, I feel worried for your country. 

Trump’s shitcoin won’t be a competitor to Bitcoin if any of the leaks are true about it just being a Dough Finance clone. Even what we already know to be true looks scammy as hell. Chase Herro, who is Trump’s partner in this project is a known scam peddler. The governance token can only be purchased by accredited investors and is non-transferrable. Very few people would be dumb enough to think it is a legitimate currency. The Trump cultists might buy it only because they are bootlickers who enjoy giving their money to conmen for nothing in return.

Trump could, without Congressional approval, direct the DOJ to investigate  Bitcoin miners. He could direct the SEC to impose all kinds of restrictions on any US broker who held Bitcoin for Americans. He would direct banking regulators to make it miserable for any company trying to hold Bitcoin for US citizens.

And of course, Trump exerts more control over his party than any president in history, and for instance the GOP Congress withdrew a strongly bi-partisan immigration deal most agreed would be the most Republican-friendly ever passed--all because Trump wanted to make immigration a campaign issue. And he did this without even being president. Trump could very easily cause Congress to pass new laws, if that was necessary.

You have a less idea how the US government works. Even the president changed, but policy won't change. Trump just can't ban Bitcoin if he wants. Otherwise, government institutions like SEC can't control out of policy. You are thinking he could just do whatever he wants, but really it's impossible at all. Anyone can create altcoin, and it will exist as altcoin as well. No one can compete with Bitcoin, not even Satoshi himself. Because they can create altcoin, not bitcoin anymore. I am not afraid even all the presidents together create an altcoin. They can't compete with Bitcoin for many reasons. 

Certainly no crypto that is competing in a free market could beat Bitcoin in the short run. But with the full power of the US government behind you, this isn't "competing" anymore, it's compelling.

And understand for Trump it's wouldn't be about bringing Bitcoin down per se, but rather propping up his own coin at the expense of all others. All he'd need to do is threaten Bitcoin and the market would switch to the one that isn't in danger.

If Trump wants to compete with Bitcoin, that's fine, but no cryptocurrency or anyone can beat Bitcoin. Trump will do anything as long as the US dollar gets better and he also gets a big profit.
I hope if Trump is elected President, he doesn't have a bad idea to bring down Bitcoin.

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

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.

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.

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 ).

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.

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?

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.

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.

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 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.