Topic: Trump will compete directly with Bitcoin - page 8. (Read 2220 times)

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...

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.

Definitely Trump is pushing propaganda for USA as a front.
The use of backed in USA is a proof that it would barely compete with the demand of Bitcoin.
That shows its quite limited to USA, a fancy form of CBDCs so it's nothing special.
Bitcoin is decentralized, a speculative asset, store of value unlike the stable coin that would be centralized, would fall in value as the US dollar does.
In summary a government issued stable coin is no threat to Bitcoin even if he does increases the Tax some Individuals would find a way around it and not to mention USA despite holding the most Bitcoin like you said is not the World.

I don't think you get it: competing with a government isn't "competing" in the normal sense. Consumer demand? Doesn't matter. If all other cryptos are made illegal, or have higher taxes, or are harassed more by the Trump administration for the sole reason that they don't make Trump money, then whatever consumer investors want isn't going to mean anything.

And Trump is the "American First" president, folks. Remember that? Bitcoin isn't owned by America, so what good is it?

"Americans spend their hard-earned money to prop up the price of Bitcoin and a lot of the profits go to... a bunch of dirty foreigners. The solution is to create a coin that's truly American. A coin that is made in the USA! USA! USA! USA!"

I mean, come on guys, the Fox News segments write themselves here...

Never truly trusted Trump interest in Bitcoin and creating a shitcoin even before he was elected shows he's foolish.
He could have been smarter about it and introduces it if he wins except he doesn't think he would
Well I digress, Is Harris a Better option? No
Not at all.
Many shitcoins comes out and what starts spreading is they would compete with Bitcoin.
But Bitcoin continue dominance is proof of the result.
Like all shitcoins, it would be a pump and dump project and when many starts getting burnt they would have no choice than running back to a safer Haven.
Yes a negative policy from him would affect Bitcoin price and the cryptocurrency space but for how long would the shitcoin survive before it shows itself it's a shit hole.

https://www.nytimes.com/2024/09/16/technology/trump-crypto-world-liberty-financial.html

A stable coin?  and it's going to compete with Bitcoin? Come off it.

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

Most of the hashrate for Bitcoin is in the US. Most of the Bitcoin held is held by US citizens. Most of the Bitcoin "whales" are American. The price of Bitcoin has been roughly tracking the US economy for several years now as it has matured into a mainstream investment.

Trump is a convicted criminal (another fact). He has been indicted on over 100 more charges (another fact). His voters don't care (another fact). It's very clear he will not spend a day in prison if he wins the election, which is obviously what his voters want. Hence they are electing somebody to be, very explicitly, above the law--and Trump himself has explicitly promised to do that if elected.

Trump's voters are voting for a Putin-style dictator, not a president. Somebody who attempted to overthrow the US government in the last election and failed--and again, his voters are still voting for him.

Trump would have to be an absolute moron to follow any US law if he was elected if it got in the way of what he wanted since he a) knows he will never be prosecuted; and b) his voters will still vote for him.



Trump never tried to ban Bitcoin when he was president, and Bitcoin has always been perfectly legal in the USA.

In Trump's first term:

a) He didn't know he could get away with what he now knows he can get away with;

b) He didn't understand how much money he could make with cryptocurrency.

This might be the turning point of Bitcoin: the Bitcoin community asking a dangerous politician for special favors in order to prop up the price of Bitcoin, and in return the dangerous politician deciding to take the money for himself instead (exactly as one would expect).

Actually, I am surprised by all these topics about Trump and the future of Bitcoin, whether Trump wins or loses, and whether he supports Bitcoin or not, I do not think that this will have a big impact on the future of Bitcoin, yes it will have an impact, but it will be limited and temporary.

As for the idea that Trump can reduce the price of Bitcoin by 90% because of his shitcoin, this is a very strange idea that I do not believe, even if he is the President of the United States, he cannot control Bitcoin as he cannot control the world, so in my opinion these are just exaggerations, Trump was a president before and he hated Bitcoin and tried to ban it but he could not.

In short, your thread is telling us to support and vote for Harris instead of Trump, right? Because you are a Democrat, you are spreading and exaggerating bad things about the Republican candidate? If we all vote for Harris, your candidate, will you stop talking trash and exaggerating unnecessary things about Trump and bitcoin?

It's bullshit when you exaggerate that Trump will compete with Bitcoin, or he will cause Bitcoin to drop 90% or he will destroy it. He is just a president of the United States, he cannot even have full power and control over the entire United States, let alone the assets of the world, not just the United States.

It won't be up to anybody if the US government makes Bitcoin illegal. And yeah, "Bitcoin's price might change". LOL, ya think?


A) Why would it be centralized?
B) What difference would that make if it were?

The US government promoting a coin--centralized or not--and making other cryptos like Bitcoin illegal (or heavily taxed, or whatever) would be a far greater factor in the market price of Bitcoin than some technicality like the number of servers the mempool resides on.


Again, why would it be centralized? I don't know what they will do, but why would it be?

And to repeat here: it wouldn't make any difference if the US government forced Americans to drop Bitcoin in favor of Trump's coin.



So the US president launching his own coin and simultaneously denigrating all other competitors won't affect Bitcoin's price? The US president vowing to use the full force of the US government to pump his own coin and get rid of Bitcoin? Seriously?

I mean, for starters, over half of the hashrate for Bitcoin would need to relocate. And hundreds of brokers with millions of American accounts would need to shift their customers out of Bitcoin for fear of prosecution. And anybody in the US promoting Bitcoin would suffer the full wrath of the Republican party, Fox News, and so on.

You don't think any of that would effect the price of Bitcoin?

He only stated, and in my view that's a statement any US citizen can freely make but that doesn't give him/her ownership. He Trump was once the president and he couldn't own the US then, what now makes anyone to think he achieve that now? Cause am not sure he can do that at this point. Something about Trump is that he talks much without caring on who's listening.

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...