Topic: Trump’s call for a bitcoin strategic reserve is a very bad idea - page 3. (Read 1246 times)

They say shit like getting their debts under their control when the USA is just lending money to themselves anyway, I mean that's what they do right? Or am I seeing it wrong because their debts are in the trillions already and there's no way that a country could ever survive in terms economic turmoil because unpaid debts in that amount should be enough to destroy a country's economy. I don't the role that bitcoin's going to do in all of this, I think that no matter what happens in this election season, bitcoin's going to be doing just fine.

If your parents used to think bitcoin was a scam and they suddenly changed their mind about bitcoin because they realized the benefits of bitcoin. They tell you they don't hate bitcoin anymore, do you think they are liars? I'm not making any claims about Trump, look at what I said.
As I said: the election isn't over yet and let's not rush to judge anything until it happens.




I know there are thousands of issues that need to be addressed and crypto is not the only or important factor in this election. But you need to remember that everyone has different lives, circumstances and needs. Your problem may not be my problem or someone else's problem, and that is why everyone has different needs and choices. Maybe your problem is immigration, taxes... but that's not someone else's problem, and people respect your choices, why do you get upset when people don't have the same choices as you?
Why does the United States always have two parties and always have their own supporters?

Bitcoin is not going to make America great but Bitcoin will make every people in America great if they have an investment in Bitcoin. If a country wants to be great, the leader must think about their citizen and do many things that will give benefit to them.

Many political in the election always say something nice to attract the sympathy of his supporters because they want to elected and get the big voting numbers for them. They don't care with what they promise in the beginning after they elected and will say there is more important thing to do and forget their promise. That is happen in many places because they have their own agenda after they have been elected and will focus to reach their interest. They can say many things about what will they do so we don't have to think much about them and let them do what they want. We as a citizen can see what will happen later so we can not expecting much from them.

Of course, each candidate takes a different approach but I see all of this in the direction of maintaining the dominance of the United States economy. namely maintaining the dominance of the US dollar globally where currently several countries have begun to abandon it (de-dollarization) and both use the highest opportunity at this time by raising the issue of supporting the growth of the digital asset industry, especially BTC.

his son donald jr is no better than he is either. i think donald junior has political ambitions too and wants to be president one day too. that would be a disaster. the trumps don't really help this country at all. that's my opinion. i wish they would stay out of politics.

To be fair I didn't think it was alternative to what he was suggesting. I mean "lets get bitcoin" doesn't automatically mean "also lets not pay our debt and close our deficit", I am pretty sure that when anyone says lets get bitcoin, they are not attacking the debt in that regard, it was probably just as another addition, not as alternative to it.

In any case, Trump is weak, and his ego is the only thing that makes him want to be the president, not his ideals, not any way that he wants to help the nation, he just wants to be called the president of the USA that's it, that's all he cares about, being strong.

In that way, if we think about his approach to bitcoin, we can clearly see that he only likes bitcoin because investors of bitcoin likes him, the moment we start to say anything even remotely bad about him, he will trash bitcoin on live tv and say horrible things about it and will say he will ban it as soon as he becomes president. Hence, it's not really smart to trust him.

You're right. I was talking in general that holding bitcoin as a reserve is beneficial for countries that are actively trying to get out of debt.

It's comparable to switching from eating unhealthy food into more healthy unprocessed meals to lose weight, but if you continue to eat like a pregnant pig, it won't change much.


Correct. If it gets approved they most likely won't buy enough to make a change in their budget and fix any problems they're facing.

Trump is frustrated fellow who want to snatch power by all means and I don't blame him, it's because those who were there in his last administration forgot quickly. If I should remind us, all presidential debate have always been on how to protect the dollar and make it stronger with little to no inflation but now, he has slipped that to focus his team to convince Bitcoin community and tell other people how they ate dogs in some regions and abused other people that doesn't go with his opinion.

Let's even say the US accepted Bitcoin as a reserve, then what? When they need money they go and print more US dollar, that's what they have been doing isn't. Does that changes anything about Bitcoin and the purpose. I just know that the day Bitcoin will become a reserve for US, know for sure that even those offering ETF like the Blackrock will be investigated but I know US is smart enough to know this, everything discussed about are just people opinion with no influence in the government policy.

They want the easiest solution and avoid any further sketchy solution that's why they always come up with those actions. If they could just adapt bitcoin and other digital currency that can help their economy then provably that they will not suffer from any economic risk. Then they can take advantage the growth of crypto industry.

They see a huge money on it and instead they disallow or discourage people its best to regulate it and for sure it will produce good income to their country. But this old folks stick with what they know that's why we see slow growth since this officials is stopping its massive adaption. Let see what will happen after this election if these honorable person could bring good solution or adaption of crypto. Hopefully they will not do any crackdown since this is really awful if they still think negative things on crypto.

Or more donations for his campaign, perhaps?

I believe that he hired some developers to fork a Github repository of an old shitcoin DeFi project, and started to "build" his own shitcoin DeFi/Ponzi Scheme network, which ALL of "DeFi" are - Ponzi Schemes. That's probably where he'll launder the rest of the donations that won't get spent in his campaign.

At least he is openly pro-bitcoin while the Democrats are pretty much ignoring everything about bitcoin but want to accept donations in crypto through a crypto company. That proves they are many times more sinister and unreliable than Trump.



To be fair, I don't deny that the idea is great and I'm pretty sure that if passed, it will be a powerful catalyst for the growth of bitcoin and the entire cryptocurrency industry. But the problem is that I think making this idea a reality will be a huge challenge and not something that can be done easily. That may be why many people think this is a bad idea.

For what I know, Republicans are very conservative when it comes to government spending. So if Trump wins, and there's a Republican majority in both chambers of Congress (House and Senate), the country would be on a path of economic prosperity. Putting a halt on foreign aid is key towards helping the national debt from spiraling out of control. It's one of the issues that has contributed to inflation. The US government doesn't need Bitcoin to do all of this. But it could be a great way to preserve wealth for generations. Just like how the US had its own Gold reserves, I believe it won't be long enough before it has its own BTC reserves. The cryptocurrency is digital gold, after all.

We can't tell how serious Trump is with Bitcoin and all things crypto until after he wins. Rest assured that if he doesn't keep up with his promises, crypto supporters will vote for another candidate by 2028's elections. With or without the US' support, Bitcoin will continue to grow at a non-stop rate. That's the beauty of decentralization.

i would rather the government just shutdown. maybe trim away some jobs that aren't really necessary while they are shutdown.

Unfortunately the economists in our world have been too stupid to be able to come up with any other solution. They just repeat the same thing over and over and print more money each time they run out of it. Which is like stealing from every one.

there's another government shutdown looming apparently. what do you think the odds are they don't print more money? everytime they are going to print more money. you can bank on that.

The US national debt continues to grow because they are creating more debt every second of every day. Holding all the assets in the whole world wouldn't prevent that debt from growing as long as they create more of it!

everyone in this thread is making this into a topic about donald trump and politics when in reality it has nothing to do with who is president. bitcoin simply can't serve as a form of government currency because the govrnment prints money to do different social programs and things which sometimes need to have money printed out of thin air. as bad as that may sound, it's a reason why bitcoin wouldn't work here in the usa.

you can't just print bitcoin out of thin air in an emergency to raise funds to help some cause or group of people. so bitcoin is not going to be any use to the us government.

having said that, since everyone is talking about donald trump here for some reason, i hope he doesn't get elected because he would be a very bad president. just like he was the first time. he wants to repeal obamacare again but he admits he doesn't even have a replacement plan!  that's what you get with donald trump is a bunch of hot air and no results. all talk no action.

But if Bitcoin will always always always go up in value not matter what--if you really believe that--then why would you put your money in one of these mere mortal investments that could potentially lose value? If you really believed that, then you'd be logically compelled to put every single penny of your total net worth into Bitcoin.

I suspect most, including the hardest of the hard-core Bitcoin zealots, don't actually believe that, and place at least some of their money elsewhere (or at I hope so).

But when you make the statement "absolutely safe, absolute continuous appreciation over time", then that statement has some very clear logical implications that you cannot escape. This is a very classic case of "putting your money where your mouth is". If you make an absolutist statement about Bitcoin, you should at least say you are following through with absolutist actions in your personal life .

Harris is doing the same thing. Democrats don't like cryptocurrencies, yet she accepts donations through Coinbase...

You guys are turning the thread into a what if he's lying and what if he's selfish discussion. Let's talk about economy.
It's not such a bad idea because it's not about turning bitcoin into another dollar. Making it a strategic reserve doesn't mean using it to pay at stores. Gold is a strategic reserve, but you don't pay for a taxi with it, right?

Owning a hard, appreciating asset allows you to decrease your debt and that's what they're trying to do because it's getting out of control. The more countries hold it as reserve the more stable it becomes. You buy it, it gains value and stability, whatever you held before appreciates, your debt (on paper) decreases, you can print more money because it's now backed by a hard asset, you can use that money to buy more hard assets.

You don't need a crystal ball to know these things. There are proofs of when Trump talked down on bitcoin in 2019. You could have seen them if you even cared to look for yourself. You just can't believe a politician who has seen that bitcoin is now big and has a lot of people in it and a lot of potential voters. I wonder why that playbook is fooling people like you. He has the support of a lot of tech CEOs and a lot of them are pro bitcoin so how could he be against it?
This is a link to his twitter/X account a post he made in 2019 concerning bitcoin.

It's possible that he has changed his views since then, which I doubt because if he had he would have addressed it. He just switched from the anti-bitcoin and crypto person to a bitcoin-loving person? I think not. He's a politician, it's what they do.


This is not very smart. I might even say it's a lame way to choose a president. A president is in charge of everything in the country. I mean every single sector is his responsibility one way or the other, Bitcoin just happens to be a tiny part of it and you're willing to choose a leader simply because he's for bitcoin? Does that make sense to you? So you do not care if the person is competent enough for the job, if their views are what the country needs, the person can be a total maniac but since he's pro-bitcoin you'll vote for him/her?
c'mon!
I think you need to re-evaluate your view on this. A country does not start and stop with bitcoin.

Besides what good does a president being a fan of bitcoin do to bitcoin? Trump was anti-bitcoin when he was president, what effect did that have on bitcoin? So what effect on bitcoin is Kamala going to have as a president that's against bitcoin?
It's high time we stop putting unnecessary importance on people and things that don't matter in the grand scheme of things.
 a president that's against?