Why president Donald trump is not a fan of bitcoin? - page 6.

jseverson

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Quote from: Broly46 on July 12, 2019, 02:09:20 AM

Btw I’m wondering why the world continued to give a huge damn about every tweet he would make, it is never mean to be serious?

The world actually does give a damn. His tweets actually affect the stock market, albeit only on a limited scale:

https://www.businessinsider.sg/trump-marvel-china-tweet-stock-market-2019-5/?r=US&IR=T

It didn't seem to affect Bitcoin whatsoever though, which could be interpreted as something meaningful lol.

kurcalas

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Quote from: Prateek_sharma on July 12, 2019, 01:07:14 AM

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

There are very few people in the world who have an idea of what Trump has. So I don't think you should think much.

Broly46

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0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

It is amazing even the mighty Trump cannot ignore the influence from the bitcoin, I know they knew what’s going on in the crypto, they just pretending to be hostile, but they can’t hold for too long, they will need to spread the news, that’s is just interesting they finally let it go.

rosezionjohn

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Quote from: Prateek_sharma on July 12, 2019, 01:07:14 AM

What's the reason behind this criticize?

The answer is actually in his succeeding tweet https://twitter.com/realDonaldTrump/status/1149472285905940480

Quote

We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!

The potus see the threat coming from bitcoin and other cryptocurrencies. USD is weakening imo and he wants to emphasize or reiterate the "dominance" of their national fiat currency.

NeuroticFish

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Quote from: Prateek_sharma on July 12, 2019, 01:07:14 AM

What's the reason behind this criticize?

He doesn't like competition, especially when the competitor's "product" is better than his.
If you look in a simple way to the US Dollar - in the same way he looks at Bitcoin - you'll see that US dollar is also "based on thin air". The only difference is that he can dictate the price change of US dollar, but he cannot do much about Bitcoin.

Quote from: jseverson on July 12, 2019, 01:50:16 AM

Crazy to think that the president of the United States is tweeting about Bitcoin though lol.

Yup. It shows that Bitcoin has become something strong.

Maxon111

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US President Donald Trump spoke out sharply against all cryptocurrencies. He stated that he does not trust cryptocurrency and does not advise others.
In his opinion, cryptocurrency is not money, because their value is kept on the air. My opinion - the growth and development of cryptocurrency leads to a decline in the dollar and the US economy .......

Broly46

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0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC

Trump is a no coiner and that is what we should expect come directly from the tweet. Btw I’m wondering why the world continued to give a huge damn about every tweet he would make, it is never mean to be serious? On a bright side, it does sound Facebook Libra could be legally exist, they just need to register themselves, which is almost too good to be true.

Pipdips

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I liked his stance about Facebook needing to follow banking regulations. I like how he called Facebook out on wanting to become a bank. It will help more people realize that Facebook is always up to no good. Facebook is not an ethical company.

jseverson

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He seems to have been quite fixated in currency manipulation lately. Even this series of tweets had him praising USD at the end, so it really might be more about that than Bitcoin and Libra. He also only glossed over Bitcoin over its parroted criticisms, whereas he straight up rejected Libra.

Either way, not a good sign. Crazy to think that the president of the United States is tweeting about Bitcoin though lol.

Kakmakr

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Quote from: squatter on July 12, 2019, 01:31:02 AM

Quote from: Prateek_sharma on July 12, 2019, 01:07:14 AM

What's the reason behind this criticize?

It seems like Facebook's Libra cryptocurrency has ruffled a few feathers. Several Congresspeople immediately took up arms and pushed for a moratorium on the Libra project while they presumably work on hastily passing regulations on cryptocurrency. Now Trump is joining the party.

Sadly for US users and traders, this is a sign that unfavorable legislation is coming down the pipeline.

I want to agree with you on that, Libra has triggered a shit storm with their announcement. The US government has not seen Bitcoin as a threat, because they defined it as a commodity and not as a currency. Now Libra comes along and it is backed by a large corporation and it challenges the Dollar as a reserve currency. Tongue

Donald Trump has built his campaign and presidency around the strengthening and protection of the US economy and the Dollar and now Libra pose a threat to the Dollar. Roll Eyes

Expect to see a lot of protection mechanisms kicking into place to fully regulate Crypto currencies and protect the US Dollar in the near future.

squatter

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STOP SNITCHIN'

Quote from: Prateek_sharma on July 12, 2019, 01:07:14 AM

What's the reason behind this criticize?

It seems like Facebook's Libra cryptocurrency has ruffled a few feathers. Several Congresspeople immediately took up arms and pushed for a moratorium on the Libra project while they presumably work on hastily passing regulations on cryptocurrency. Now Trump is joining the party.

Sadly for US users and traders, this is a sign that unfavorable legislation is coming down the pipeline.

Prateek_sharma

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Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

Topic: Why president Donald trump is not a fan of bitcoin? - page 6. (Read 1106 times)