Donald Trump And Bitcoin
It seems that Trump was speaking at the crypto conference, asserting that he wants to make the US the crypto capital of the world.
In this video I discuss how this could be campaign rhetoric meant to try and get votes. Even if it isnt, we still have to resist looking to government (and its leaders) for permission to succeed with crypto.
Government consent is not required.
▶️ 3Speak
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He's talking bollocks as usual. I doubt he understands what crypto really is.
RFK jr. might have explained it to him in one of their non-leaked phone calls. RFK jr. holds 21 BTC, three for each of his 7 grandchildren.
Why would RFK jr want Trump to understand what Bitcoin is?
Trump is expected to be the next President. RFK jr. is bullish on BTC. My understanding is that one of the planks of his platform is for the US Government buy some huge amount of BTC to hold as an asset. If you had a money printer like the US Government it sounds like a great idea to me.
RFK Jnr is trying to be the next President himself. It doesn't make sense to me while he would be trying to help his competition pick up votes.
I don't believe for a second the US government would buy Bitcoin. The Federal Govt spends money on projects or allocates to the states for projects. The Federal Reserve might buy assets as part of a quantitative easing but they are supposed to be non-partisan and quantitative easing increases inflation.
Whatever may or may not have happened between the two candidates, Trump seemed crypto bullish while speaking at the Bitcoin2024 event in Nashville, which is covered in the link below.
https://hive.blog/hive-167922/@haveyoursay/will-fire-sec-ceo-on-the-first-day-of-his-office-said-trump-2ou
I absolutely believe he'd fire Gary and install a loyalist... but it absolutely does not make sense for government officials to advocate using taxpayer dollars to juice a speculative asset... that's not small government.
Seen that way you make a solid point. Just never have thought of BTC as speculative. It has continuously increased in value since receiving my first coins at about the $36/BTC range. They have never fallen below $36 in all those years.
Sure, but it's still speculative... the price is determined by demand.
With a company, if it goes bankrupt, at the very least you could sell off the assets to try and pay back investors. If the price of Bitcoin dropped dramatically, there's no way for investors to try and recover their investment. Personally I think it's unlikely, but there's technically nothing stopping the price of Bitcoin soaring or crashing, it's all up to the demand.
He was completely against it last time he was in power... and I'm sure it's because so much of his wealth is tied up in the USD, he's not going to help anything that potentially diminishes his wealth.
He also told a Christian religious group that they only have to vote for him one more time and then they'll never have to worry about voting ever again. It's wild to me that crypto folk would consider voting for an authoritarian government just on the promise that Bitcoin might go up.
I used to be surprised by many people in crypto supporting authoritarians until I realized a lot of people in crypto have no principles whatsoever and are motivated by absolutely nothing but short-sighted greed.
Yeah, I absolutely hate that. Crypto used to be about solving problems, particularly for those who are neglected by institutions and corporations (ie, the unbanked, people taken advantage of by overdraft fees, etc) and now it seems to mainly be a vehicle for rich people to get way richer and everyone else will let them as long as they might also potentially make something along the way.
His speech made a huge wave in the way that Crypto investors look to their future in USA territory. Not saying that is not catching votes, off course. But just like I've just listen now in the MARA desktalk "America need Bitcoin. Bitcoin don't need America"
I agree. This feels like a desperation move from their camp. It seems Biden dropping out and Kamala getting massive support is making them panic and trying all sorts of strategies to get votes. It is funny that a lot of their camp's arguments against Biden, about being old, is now backfiring on them since it applies to Trump now. The government and politicians know that crypto is inevitable, but that doesn't stop them from trying to leverage it to their advantage.
For whatever reason, #crypto has become a hot topic. Trump has shifted to the point where few recall his administration wasnt friendly to it.
The Dems who has spoken out against it are now finding themselves against the political winds. They have to shift.
Crypto is far from the most important thing in the world. It's a thing for sure and lots of young people have dabbled in it. But it's not going to make or break anybody's political career.