Will the new US administration be friendly to bitcoin? - page 2.

Emily Perkins

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Biden just appointed a former chairman of Commodity Futures Trading Commission Gary Gensler as a leader of financial policy transition team, which is not bad cause he seems to be pro-crypto, he testified before Congress against comparison bitcoin to Ponzi schemes.
source: https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team

Quote from: nelson4lov on November 10, 2020, 06:18:24 PM

Too bad trump lost the election to Biden, although trump never liked bitcoin, and so far have not heard Biden say anything about bitcoin, i believe that hasn't crossed his mind yet, so i guess we just have to wait till he assumes office and see what his administration brings, I just hope it will be good for us bitcoiners, because slowly US are becoming an out cast to crypto, so many platform refrain from distributing crypto to citizens of US, due to their regulation system.

nelson4lov

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Too bad trump lost the election to Biden, although trump never liked bitcoin, and so far have not heard Biden say anything about bitcoin, i believe that hasn't crossed his mind yet, so i guess we just have to wait till he assumes office and see what his administration brings, I just hope it will be good for us bitcoiners, because slowly US are becoming an out cast to crypto, so many platform refrain from distributing crypto to citizens of US, due to their regulation system.

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Quote from: Renampun on November 10, 2020, 01:57:54 PM

Quote from: pooya87 on November 09, 2020, 04:33:54 AM

no, it will be exactly the same as the previous one and continue having the indifference attitude towards bitcoin while pretty much the same regulations are forced on any centralized service (such as exchanges) that work with bitcoin.

I also think so, Biden and trump will not be much different in responding to Bitcoin...
many interests are behind the US economy, especially the world bank and IMF. if Biden supports Bitcoin, it means they support the banking system in a major overhaul. just leave them with their dislike of Bitcoin because it is possible that currently, the US is planning to make its own cryptocurrency, following China.

dont really expect that they will have direct stance on crypto or bitcoin. even if for example, biden is pro-bitcoin, he will not give statements that he is supporting it as he will think of the repercussions that it will have on the traditional financial system. but we may see how the laws and regulations will be on his time period.
too early to speculate on how he will handle things here. trump has not conceded yet about the election results. lol

Renampun

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Quote from: pooya87 on November 09, 2020, 04:33:54 AM

no, it will be exactly the same as the previous one and continue having the indifference attitude towards bitcoin while pretty much the same regulations are forced on any centralized service (such as exchanges) that work with bitcoin.

I also think so, Biden and trump will not be much different in responding to Bitcoin...
many interests are behind the US economy, especially the world bank and IMF. if Biden supports Bitcoin, it means they support the banking system in a major overhaul. just leave them with their dislike of Bitcoin because it is possible that currently, the US is planning to make its own cryptocurrency, following China.

bounceback

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I heard that there was a campaign fund donation for Joe Bidden from bitcoin investors and there might be good news for bitcoin if Joe Bidden was appointed later, but this is just an issue and it is not certain whether or not there is a donor who helps campaign funds for Joe Bidden. from cryptocurrency investors. Moreover, so far Joe Bidden also has not spoken much to the public about his future program after being inaugurated as the 46th president of the United States. Maybe Joe Bidden is still working out how he plans for the future, including whether bitcoin will get a positive response or not in the United States with his presence. new president Joe Bidden.

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Quote from: pooya87 on November 09, 2020, 04:33:54 AM

no, it will be exactly the same as the previous one and continue having the indifference attitude towards bitcoin while pretty much the same regulations are forced on any centralized service (such as exchanges) that work with bitcoin.

Maybe there's a changes that might occur as people are now familiar with bitcoin in US. I'm hoping that Biden will take some actions and put some attention into cryptocurrency and economy in their country. Trump really have a much better influence in cryptocurrency and I don't think that Biden will prioritize it that much. We all know that the US economy is struggling due to the pandemic especially that unemployment increases in Trump administration. Hopefully, this election is the way for cryptocurrency to become known more in their country and I believe that this is the season for it.

lifeforcepools

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It seems to me that regardless of which administration, they will treat bitcoin badly. They're Bank boys.

molsewid

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Quote from: Emily Perkins on November 09, 2020, 04:31:21 AM

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

I don't think this new administration will be different from the past administration regarding bitcoin regulations. But hopefully, not too tough regulations will be made in their incumbency. Don't expect too much in the new administration to be friendly about bitcoin until his camp made a public statement about crypto-currency.

Blackrain13

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why are you having problems right away about the new US administration if they are going to bitcoin friendly or not. Let's just wait what will happen. Also there are many bitcoins ATM in US and I think they are all aware about it already.

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Quote from: FlightyPouch on November 10, 2020, 05:34:21 AM

I think it will be the same. All I know right now is that the newly elected president just created a task force that would help him fight this pandemic and free the country as they are one of the countries with the most cases. They would be focussed on other things too and I think bitcoin and crypto currencies would not be that different in the past.

I hope that what the president-formed team is doing can be achieved because as far as I know the US country is very difficult to manage because they are used to freedom, therefore hopefully what the president creates can suppress the spread of the virus.

Emily Perkins

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Yeah, according to Hester Pierce there will be some regulations. Just read an artcle: https://www.coindesk.com/hester-peirce-bitcoin-advisors

Quote from: carlisle1 on November 09, 2020, 08:51:08 AM

Quote from: Emily Perkins on November 09, 2020, 04:31:21 AM

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

This same question i have in mind mate,though it is trump being open not supporting Bitcoin yet i think that it is too early to talk or expect from the new administration.
but let us not lose hope that Biden administration will support and allow the use of crypto Specially bitcoin to lead the adoption worldwide at last.
And also will open many areas not just PayPal but Amazon as well to accept bitcoin directly.

Quote from: btcdevil on November 09, 2020, 05:56:27 AM

As much i know their wont be much change in the bitcoin for US ya but it can be that he may give some soft norms on bitcoin usage but still will keep more regulation for the security of the users.

Security regulation is a must,but at least lessen the restrictions for the community.

Alucard1

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No matter who won the election for the president, it won't change the fact that they would not be friendly to bitcoin because they are in a centralized system and they won't even encourage their citizen to try cryptocurrency or decentralized system but I think eventually they will someday in future because as we all know this country has the most number of the crypto machine all over the world so meaning to say many people are using cryptocurrency in their area.

mixerbtc

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Biden has said little to nothing about cryptocurrencies. I personally don't think that this administration will pursue different policies than what we've seen so far. On the other hand, regulators might!

Dorodha

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difficult to say whether the new US administration will be friendly to Bitcoin. Trump has always worked against it but no one can say what he will do now that Biden has been elected new president. But if Bitcoin is friendly, it will double the demand for crypto. Although the epidemic has had a negative impact on everything there is no problem with Bitcoin many countries will support Bitcoin to return to normal. the US administration helps the high demand for Bitcoin will increase along with the dollar.

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Quote from: Emily Perkins on November 09, 2020, 04:31:21 AM

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

I doubt that any US president will ever support Bitcoin directly and in whole because they knew that Bitcoin will always interfere Dollar price and threaten their Currency eventually.
I think there might be changes in Biden administration but will not totally open the door for cryptocurrencies.

Quote from: bitbunnny on November 10, 2020, 05:03:18 AM

This is very hard to tell at this moment. Handling pandemic and crysis will definitely be priorities and from the past I don't remember that Bitcoin and cryptocurrencies were in Biden's focus.
We'll with time how the situation will develope but I don't expect to see some revolutionary changes in attitude towards Bitcoin.

Well we are not looking for the focusing of Biden but at least let this market operate freely.

imstillthebest

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Quote from: FlightyPouch on November 10, 2020, 05:34:21 AM

I think it will be the same. All I know right now is that the newly elected president just created a task force that would help him fight this pandemic and free the country as they are one of the countries with the most cases. They would be focussed on other things too and I think bitcoin and crypto currencies would not be that different in the past.

i know how much important crypto to us but we can understand that there are more important things first that needs to be fixed . covid is primary in the list and with that update the new president gave related to the virus, this gives people a good feeling because their choices were right and they knew that thier country is close to being a covid free country . soon cryptos are also going to be the projects that will be included on the next update of the president , thats possible because they say that biden was also into cryptocurrencies .

cabron

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He'd be more nods from the crypto community who are going to be wealthy citizens in US in the future if he is more friendly to crypto. But Biden is more aggressive than Trump, I think he really will enforce human rights to other countries as he already expressed it earlier.

Once he sends troops outside, that will change Bitcoin positively. For now consider him friendly Cheesy

FlightyPouch

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I think it will be the same. All I know right now is that the newly elected president just created a task force that would help him fight this pandemic and free the country as they are one of the countries with the most cases. They would be focussed on other things too and I think bitcoin and crypto currencies would not be that different in the past.

bitbunnny

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This is very hard to tell at this moment. Handling pandemic and crysis will definitely be priorities and from the past I don't remember that Bitcoin and cryptocurrencies were in Biden's focus.
We'll with time how the situation will develope but I don't expect to see some revolutionary changes in attitude towards Bitcoin.

Kakmakr

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People.... let's be real for one moment. Everything that happens before an election is totally "bullshite" .... They make a lot of empty promises and most of those promises comes to nothing in the end.

During the previous election process when Trump was still not President of the USA, he surrounded himself with key people who had Bitcoin interests and most of us thought they would push the Bitcoin agenda when Trump won the election. This did not happen, because these people sat in board meetings with other people who did not support their views and Donald Trump over ruled all their personal agendas.

They will basically say anything to get into power and then they will flip to fit whatever is asked of them to get those positions and the salary and perks that comes with that position. Roll Eyes

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