Topic: TRUMP WINS! What does it mean? - page 3. (Read 326 times)

Expecting the US to promote bitcoin as a currency is a very high expectation and I don't think that will happen in any way. The United States dominates the world by forcing every country to use and depend on the US dollar. If they legalize a currency that they do not control, it will negatively impact the dominance of the USD and that means it will directly threaten their power.

Bitcoin is becoming more and more popular around the world but we can easily see that governments tend to accept it as an asset, no country wants to turn it into currency and use it to replace its own currency. Only countries without their own currency think of legalizing bitcoin as legal tender but most of these countries are small countries.

With Trump being elected and maybe his administration will be more friendly to bitcoin but don't forget that governments are centralized entities and they will put their own interests first, they don't like decentralization so we should have realistic expectations.

Only time will tell.
However, just like as everything else on the market - the expectations shouldn't be too high.
Otherwise, it can backfire.

Like I said, Trump will most likely appoint someone from his own party preferably someone in his inner circle already. If he could elect Elon Musk as the new chair, he might just do that. Who knows? But I know that Trump will never put someone against crypto if he is really serious about his plans with it. Without SEC breathing down exchanges and wallets' necks, there will certainly be more interest in crypto since investors/traders will not fear against laws anymore.
I would hope so but it will be a long process and certainly not something that can be done over night. Many projects and policies would need to be passed during Trump's term for bitcoin to be recognized as an official currency.

I think I need to ignore words like Trump for the coming months. All the predictions and topics seem to be more emotional than real analysis.

First, Gary Gensler has not been fired and even if Trump wanted to, the process would not be quick, especially since his term ends in 2025, so we cannot discuss an alternative.

Bitcoin will not be a US reserve (at least for now.)

Bitcoin has been here since 2009, and it's one and a half of decade, which is long enough. Bitcoin will continue to be here, and even grow up its adoption more. Bitcoin lifespan in my opinion will be longer than one or two Presidential terms that equal to 4 or 8 years. Trump will be allowed to be President of USA for only 4 more years, and effects from his policies on Bitcoin will be only one of many contributions from many people in Bitcoin history.

If he brings good policies to Bitcoin and cryptocurrency industry next four years, it's good but if he won't, other people will do it later years. The world doesn't stop spinning and Bitcoin won't die any year between 2024 and 2028.

People need to understand that in any market cycle, with bullish and bearish years, there will be a lot of fud in this market. Trump won't be able to prevent all fud to appear next four years.

https://endthefud.org/

That made my day 
I do agree, a politician remains a politician - and he can do all he wants while he is in office.
Not that I am pessimistic about it, I just don't think even most things that were said will be set in motion for real.

As I understand it, by law Trump cannot replace the SEC chair for a few more years. When that happens, the net effect will probably still be small since most of that job is determined by Congress.


This is not going to happen. It's simply ridiculous. And besides, how many people here would like the price of Bitcoin to be at the whim of the US government? That's what they use the national oil reserve to do, although that is only a small portion of the supply. The US could actually buy all of the supply of Bitcoin if it wanted to--and even 20% of it would allow the US government to manipulate the price.

But if they proposed this, when Apple would lobby the government for a "strategic AAPL reserve", and holders of ETH would demand a "strategic ETH reserve" and so on. This idea is simply idiotic.


Bitcoin and crypto transactions are not taxed in the USA.

Repealing the capital gains tax is something Republicans have wanted to do for a long time, but they would do this for all assets, not just Bitcoin. But this would be such a transparent giveaway to the super-rich that I suspect the Republicans would never even try it.



I see it as one of many major digital currencies, but maybe not even the most valuable one anymore. Bitcoin doesn't scale to mainstream transaction loads, and the future of digital currency is mainstream transactions.

Trump talked about a lot in the election race. Let's see how he will implement his communications, but it is very likely that it will remain just words. In his previous term, things were exactly the same. I did not see any particularly important matters that he spoke about in front of the whole country. This time, I do not rule out that populism will also win.

That's like asking Warren Buffet to buy Bitcoin.

During his campaign he promised to commute Ross Ulbricht. Well he has won and I like to see if he'd actually do that or give us one of those political excuses of why he can't or wouldn't. I remember having the same opinion as others when they said why didn't he do it during his first tenure. It is too early to tell and this. Let's see how if will all unfold.

I want to see Trump not lie with the promises he has already made. Another problem is that Trump made a new word from the results of political promises into different policies. If this condition continues, then the positive things for crypto will develop well. Both candidates support Bitcoin, but indeed Trump seems more serious.  But hopefully later he will also not make decisions based on personal gain. Because Trump has had great experience with his NFT project and he understands it well so that he is able to take advantage of it. It seems that if it is realized by America like El Salvador. LOL

So everyone's already forgotten about his promise to free Ross, eh?

Poor guy. Man must hate his status of being used as a political pawn while not seeing any real freedom.

It’s pretty much a given. Any new president will replace officials not on their side, especially appointees. But what will the new SEC chair do for Bitcoin? As far as I know, Gary Gensler was known for saying Bitcoin will never be a currency. So, could the new chair help push Bitcoin to be recognized as a currency rather than just property in the US?

For those that still have a hard time getting the gist of it, believe me when I tell you that it's high time to even buy more bitcoin or at the least increase your monthly investment into it because the ROI with all the possibilities with Trump back at his position isn't something worth ignoring even if this is all just a speculation, the fact that there's a possibility that bitcoin reserve can happen in US is definitely something that everyone should be looking out for.

Maybe I'd see bitcoin going up in prices and the use of it in the US would probably double in numbers compared to the current number of users right now.

After months of Trump promising various things and getting involved with crypto, even as far as getting endorsed by Elon musk himself who is also a popular name within the crypto realm, He has now won so let us talk what could happen in the next 4 years with Trump as president.

• SEC Chair

First of all, it is guaranteed that the SEC chair will be replaced by a new one. Trump has said that he will fire Gary Gensler if elected. The question now would be, who would replace him? Surely the SEC chair that will replace Gensler is someone who has the same plans for bitcoin and crypto as Trump. We will definitely see less restrictions within the crypto market which would lead to more innovations.

• Bitcoin Reserve

Trump hopes to make bitcoin as the country's reserve and treat it like a national gold reserve. If this were to happen, countries that are already holding bitcoin will find themselves at an advantage while countries without bitcoin might scramble to keep up.

• Taxes

Bitcoin or crypto transactions will be taxed less. This can definitely boost more interest in crypto especially in the US. Trump hopes to make the US as a bitcoin capital and gaining interest from other countries due to their bitcoin friendly policies could lead to that.

Of course, these things can only happen if Mr. President actually follows through his words but if he does do the things he has said,

 where do you see bitcoin, specifically in the US, 4 years from now?