Bitcoin Forum

What would happen if someone, lets say Bob. Goes out and says "We got a problem. Previous governments have been doing too much QE. Inflation is going wild. We will now adopt Bitcoin as legal tender."

Would Bob get elected? Or would majority of people not like Bob?

Whether certain presidential candidate likes Bitcoin or not, I'm quite sure that being publicly bullish on Bitcoin would pretty much be suicide election-wise. Simply put, a lot of Americans still think that Bitcoin is a scam, and being bullish on Bitcoin is one of the ways to not get you elected.

They just need to communicate it a bit better than me. Say things like "Hey inflation is bad. Housing and food is more and more expense. We need better currency like bitcoin".

Most americans already know about bitcoin these days after elon musk and michael saylor so are more friendly. Around 1 in 3 americans have owned some bitcoin at some point. Even those that didn't own already are curious.

If he says those things, it wouldn't be a win for him, remember that the US has a really dumb population, they appeal and get their votes only for those that they find interesting or caters on their primal instincts which is really a cause for a alarm because one win from a really stupid president could end US as we know it.

I don't think that bitcoin will tip the tide for any presidential candidate, yeah good that one of his platform is to adopt legal tender. But there could be some opposition against it in the US. So not a sure fire platform for anyone. So 50/50, others might like it, and others don't. And US being a superpower, I doubt that they are going to adopt bitcoin as legal tender, for them dollar is still the world currency.

Most definitely the business of electing the president of the most powerful country in the world does not just fall on whether the candidate is supportive of Bitcoin or not, whether it is discussed in the line of inflation failing the target with a considerable margin, too much QE, weakening US dollar, etc. Whether the presidential candidate is pro Bitcoin or anti Bitcoin won't make him win or lose an election. But if it has to be as shocking as letting go of the USD and replacing it with Bitcoin, I guess such a candidate whoever that is is meant to lose.

I still don't think so. I think saying that "we need a better currency" itself would get the candidate enough backlash to end up becoming irrelevant and lose an election, what more to recommend something like bitcoin? If a presidential candidate would make bitcoin legal tender, it would be through a Trojan horse.

You are talking about at least 4 years in the future and we can never know what the situation is going to be by then. But generally speaking the US dudes are too in love with their US dollar and would do anything to try and prevent it from becoming obsolete. That means there will never be a "serious" presidency candidate who is "pro bitcoin" like the way you described.

US plans to launch CBDC of their own. This pro-Bitcoin president will create a new set of oppositions that will crush his campaigns using the media. He shouldn't be that vocal when it comes to his support of Bitcoin unless he already won the election.

If he does speak about his plan for using Bitcoin just like El Salvador does, he has to wait until he sits on the Whitehouse. But even if he is already the president, it's not up to him, you see how many of the senators understand Bitcoin when they discuss the infrastructure bill?  Lummis seems to be the only person who know how it works.

Thats funny. Just because X-govt. failed to overcome the inflation or they are not able to manage the financial situation; they are not bad government. Bob went get elected for his prosperity in the bitcoin because thats not the solution! Government is not all about money all the time. It has to think, how they can recover the country's situation based on public support. If Bob thinks he can overcome inflation with bitcoin then thats really wrong. Most of the population in country believes in Fiat and not in bitcoin. So how Bob is going to recover the Taxes? If BTC is legal tender then everyone will go anonymous and government will start loosing more money. This way government will become more and more poor. I am not sure how based on BTC alone Bob can get elected.

Unfortunately, nobody can be elected in the big political landscape of the USA on the basis of making Bitcoin a legal tender. There was a "'known" Democratic presidential hopeful in the name of Andrew Yang (https://en.wikipedia.org/wiki/Andrew_Yang) who is a fan and supporter of Bitcoin and cryptocurrency but he never made it beyond the party nomination. Of course, as a Bitcoin enthusiast myself I would be excited if in the next presidential election in 2024 the cryptocurrency community can be able to make a big rally and show its voting power...but I think that will just be another pipe dream for now or maybe 20 years from now this can be possible.

The United States has always supported Bitcoin, including some American celebrities and companies that support Bitcoin. Musk has made an example of using Bitcoin as a payment method, allowing many people in the world to understand and recognize Bitcoin. But his move to give up the US dollar, I think it will not be recognized, which shocked me.

That's different though, you are talking about celebrities. The OP is asking about potential candidates that are going to be pro-bitcoin. But in any case, not going to happen, US will still push their beloved US dollar to the world economy, so I don't think any US elected or running president will hinge everything on bitcoin as their "rallying" call.

There arr still many people who have negative view about bitcoin. And bitcoin didn't become something that major in society, I think it will be hard for bob to be elected. USD is a power for USA I very sure that any US president will prefer like to support USD rather than any other currencies such as bitcoin and etc. Political issue is something that very complicated, enemy can be friends in something as long as both are get benefits. For me technology solve problems better than government regulations.

There is simply no one that would threaten the dominance of their own currency by allowing an alternative currency to take root within their society. This is mostly a bipartisan issue, where none of the parties in the state would willingly tarnish their economy just for the sake of a few groups of people who are pro-Bitcoin. First of all, you won't get elected and second of all, any bills that actively pushes for Bitcoin to legitimately be recognized and endorsed as a legal tender will face oppositions from both sides of the senate or the house for that matter.

Looking back at the history of the old presidents, I'm not sure if people know or think like I do. 
When someone wants to make a financial difference without involving the FED, the end result is the same.
This issue I think would be better for the FED to support Bitcoin :)

I doubt that Americans (or anyone really) study the platforms of political candidates, people simply vote for someone who resonates with their views the best. I think making Bitcoin a legal tender would be a very unpopular move, but if such candidate does not advertise this plan too much, a lot of people could not even notice it. And if such candidate is a lot more popular than their main opponent, there's a good chance they would win.

But realistically DNC or RNC would do everything they can to stop such candidate if they will be gaining popularity.

If a president of a big-time country will promote bitcoins, this will means a huge pump. I think we already had those moments when the President of China said good things about cryptocurrencies and I think the price was pump really high just a few hours after his statements. from $8,000 to $12,000 if I'm not mistaken. What more if the president of the USA will say the same or even promising words. I think the whole crypto industry will be shaken by those words and the crypto market will be like a green garden again.

I think it's too early for president to be so pro-bitcoin. Most of old people will not vote for him if he'd openly say that he supports bitcoin. And if he will takes it as a secret and reveal after selection a lot of people will be dissapointed too.

I would be very skeptical of such a scenario and to be honest, it largely depends on the very perception of the American public at large, and how they view crypto and blockchain in general as compared to the US dollar. If a presidential candidate comes up with such statements in which he thrashes the US dollar and promotes bitcoin while the public considers it otherwise, it might be a smooth political suicide for the candidate. It's very subjective to be predictable.

Biden just got in and although it's not that long, it's still far to think about a pro bitcoin president of America. And it won't be effective I think, as there's one that has campaigned and known to be one.

But he just stopped with his candidacy and campaign.

the next president of us is pro bitcoin, this may be a very good step for bitcoin fans, but we need to realize even though the next president is pro bitcoin, but the president can't replace usd with bitcoin, because if the president makes bitcoin the main currency, it is certain that many will be harmed, and will be against the world, and certainly many will challenge your policies..

Bob will not like mostly the government and a small percentage of the public. But overall, it will have a very big impact. And I want to think that the consequences will be positive.

Whether that's the case or not is irrelevant because the US president doesn't wield absolute power, he (or she) has to make executive decisions in conjunction with the backroom staff (ie. advisors) in the White House, who are certainly not going to collectively change their stance about crypto anytime soon. One or two possibly, but an entire majority? That's a far cry.

I don't think it's going to be a positive impact for bitcoin especially if it's US presidential seat that Bob is running for because the owners of those country cares more about the military, foreign policy and covert operations rather than the well-being of their countrymen.

If you are a American you shouldn't vote just because the candidate like bitcoin or crypto cast your vote according to the track records of politicians and don't get worried about crypto since US government will adopt that once they see a large number of people using this and bitcoin will got a good stability together with merchants adoption.

Also think about it for example Bob like bitcoin but he's a corrupt official then what will happen? so think about it.

One thing I have learned from politicians is this.... "They will say any bullshit to get into power" and prior to the election, they will make huge promises and when they get into power... they forget about all those promises and they just do the opposite.

During the "Trump" elections.. a lot of people that were pro-Bitcoin got into key positions and we all thought that it will stay that way. Those people quickly turned to conform to the ruling party agendas and some of them even turned against Crypto currencies. So do not get your hopes up!

LOL.. such policies will make Bob a Libertarian. And Libertarian candidates usually receive around 2%-3% of the votes in the POTUS elections (back in 2020, Jo Jorgensen received 1.18%). So that gives you an idea how practical it is to make claims such as this one. Democrat and Republican parties are solidly behind the national currency (i.e the US Dollar). Trump is believed to be somewhat pro-Bitcoin, but even he won't approve what you have posted. So my prediction is that Bob would receive some 2% of the vote and zero electoral college votes.

The next US president is pro bitcoin, even though the president issued a statement so I don't think it will have any effect on bitcoin, besides that people who play politics always promise sweet things, because they have their own goals, but once they are elected they certainly won't never be able to keep his promise, it's normal for every word issued by politicians, never be taken seriously..

Actually Trump said he doesn't like bitcoin and that it looks like a fraudulent scheme. He said bitcoin prejudices dollar and he totally supports dollar currency as the main world's currency.
But you are right about the votes percentage. A bitcoin proposal isn't enough to push a candidate up in an election. What really matters in a political campaign is money. If the candidate has money plus influence to buy support from another politicians and from the people he wins, that is how it works. Proposals play a little role in political disputes. They are just smoke screen.

Surely the majority of people will love Bob and he will be elected by the majority of the people, but on the other hand, governments and politicians who have influence and power will hate Bob and will chase and kill him if they can, Bob here is Satoshi himself!! Satoshi has become the darling of the vast majority of people but the governments and banks hate him the most, and if he had not concealed his identity, they would have killed him long ago.
Authority and power are in the hands of governments, and they do not care about what the people want, and they will work with all their might to maintain their power and control over everything.

The United States has always been in support of Bitcoin, but I don't think they will agree to let another currency replace their own currency. No one wants to harm their own interests. It is very unreasonable to let Bitcoin replace the U.S. dollar as legal tender. This is not a popular move, and most people should not vote for him.

Bitcoin is getting into the bills and getting better and better. I like the idea that the next President of the United States will support Bitcoin, just as Trump praised Bitcoin in March 2017 and early 2021 he vehemently disparaged Bitcoin.
A wise president will please his voters with policies rather than favor Bitcoin, as it is also just a payment intermediary. Not all Americans own Bitcoin and cryptocurrencies. Therefore, it can be said that it is impossible to please the majority of voters by the above method.

In recent years, the U.S. dollar has remained the top choice for the United States. Even inflation will not change the U.S. support for the dollar.
Bitcoin can only ease inflation in the United States, will allow the use of Bitcoin, and will always support Bitcoin. But it will not set Bitcoin as legal tender. They still like dollars in their hearts.

When this move was proposed, it seemed that the impact on Bitcoin was not positive. Instead, the price of Bitcoin is now falling. Regardless of the current situation, it is necessary to vote to make an election decision. It is publicly proposed that Bitcoin depreciate the U.S. dollar. The result is There is no doubt that.

Bob probably won't get elected. No wise presidential candidate would make it as his/her platform of government to remove the US dollar. That's definitely a suicide. If the globally powerful USD is weakening, present your plans to make it powerful again. But never say it is a pointless case to salvage it and that the US government would be better off replacing it with something like Bitcoin. You will not only sound ridiculous; you will sound nuisance.

The moment Bob comes with the idea that adopting bitcoin as legal tender will kill inflation he will become the laughing stock of everyone and get 0.1% of all the votes. Just because you have a finite and limited number of coins doesn't mean that prices in goods will stay the same and it also doesn't guarantee you anything, not that you will always manage to bring together demand and offer. Bitcoin, fiat, or gold, no matter what you would have used you would have seen the same spikes in wood and coal prices and you would have seen the same contact growth in oil prices and energy as demand is gradually overcoming supply.

Poeple forget that the economies right now are no longer the same as in the middle ages when still inflation was present, the pace at which goods were manufactured shipped, and sold was totally different, reliance on imports was way smaller if not completely absent, people couldn't simply send tons of cargo to Asia next day if they were phoned they could get 2$ more on a kilo of cabbage there.

People will definitely feel that the incoming election is no good at all. There's no way USD will be replace by a decentralized coin which most citizens will think the root of all scams. So Bob won't definitely succeed in his platform even if bitcoin has a very expensive value. People's first impression on bitcoin will eventually last for long.

Even if presidential election will not happen but as long any candidate is obviously pro-bitcoin, the citizens will hesitate to vote him or not.

Remember,,, the last president candidate who wanted to go full Bitcoin eventually had to go on the run, and was captured abroad, and died in prison. So I do not think it is healthy or even good for any guy who wants to be president who also wants to be pro bitcoin.

This is only half a joke of course  8)

The victory of the Presidential Election is not only influenced by one factor. Many factors influence . But if you see if he said that only focused on one factor , looking for supporters only from among bitcoin holders in my opinion it would kill his own career . Because I'm sure the US community does not all hold bitcoin. So it's better that he doesn't say that and it's better to seek sympathy in other ways.

It depends on the support the candidate enjoys from the public, if a verse majority of his supporters are also pro-Bitcoin then there is a possibility Bob will win because most of US citizens are already pro-Bitcoin all they needed is more orientation and legal backing.

The next US president is going to be:
A.Kamala Harris
B.Some republican candidate,maybe Donald Trump or maybe someone else.
I don't think that Kamala Harris is pro-Bitcoin and Donald Trump is definitely anti-Bitcoin.
The republicans aren't pro-Bitcoin as well.
Anyway,it doesn't matter that much,if the future US president is pro-Bitcoin or not.Trump was anti-Bitcoin,but Bitcoin was having a good time,under the Trump administration.

if that country has lots of bitcoin users then bob has a good chance to get elected but we arent still sure tho if bob is telling the truth and he will commit his promises because this is the problem of many officials that they are only good at making false promises .
anyway is the present president of the u.s are into bitcoin ? i remember he said something positive about btc before so u.s must be a good place right now for btc users .

He will look at the public situation, if there is no special issue about bitcoin then he will be silent, the candidate must focus on the goals to be achieved, as long as it is not a public issue then the campaign to attract public sympathy is more profitable, of course we hope whoever the US president not too regulated about crypto.

Americans are a proud nation, and the US dollar is a part of this national pride. So unless dollar hyperinflates over the next 4 years (which is unlikely, but not impossible after all that printing), running for presidency with a plan of getting rid of dollar would kill one's prospects of becoming the President. If it's about allowing people to use Bitcoin along with dollar, that might be a different story, but I'm not sure if people will care enough about this. Moreover, let's not forget that US is a democracy with strong institutions in place that create checks and balances. So even if the President wants to replace dollar with Bitcoin, chances are, it won't lead to anything because different people have a say in this.

if it is true that the next US president is pro bitcoin, maybe there is a shrimp behind a rock, most likely the president has a specific purpose, for sure they are doing it for their own interests,, once they have been elected, they will surely forget their promise, even though there is sweet promise from a famous person, you should not swallow it right away, but we taste and consider it first, because sweet is not necessarily medicine..

I think it's difficult. being a crypto fan won't bring much support. so this is not a determinant of whether he will be elected or not. because crypto is not an important issue in every presidential election. Just look at yesterday's election, how did Biden increase his popularity. although he mentioned crypto, but he did not make crypto an important discussion. he only focuses on immigrant and other social issues.

Valid point. Not everyone likes and is knowledgeable enough about crypto. There are many people who are, as a matter of fact, loathes its existence. Hence, using this as a platform will not really guarantee a vote from the citizens  because there is always an opposition that always try to bring platforms and projects down the moment they learned about it because they think it is not beneficial and just harmful. In addition, dollar is still the leading currency among every currency. It is still the global reserve asset. It is backed by the government and the central organizations. Surely, they won't just allow bitcoin to take over that instant. Given that bitcoin's nature is volatile and decentralized. I really don't think they would do such move that can compromise their very own currency.

For me, the political parties are very separated. their views differ. The platform might be bigger now, but the opposition will be bigger too, bitcoin will be overanalyzed by the other parties, which might ruin its reputation. US dollar is also dominating the market for so long, they will still keep it for the sake of their pride. In my opinion, if they are pro-bitcoin, it would be great if they could at least emphasize the commodity of bitcoin, not just another payment alternative that might leave a bad impression on non-informed people due to its volatility.

Since btc and usd are competing against each other, a pro-btc president would mean an anti-USD president. Since the USD is the default currency of the United States, you can't expect the president to be anti-USD. This would be considered treason probably. Everybody likes crypto but let's don't be silly. It is not going to happen.

The next president is never going to come out with such a statement, not in the next century at least. The US dollar is the worlds reserve currency, meaning a lot of other countries trust it as a relatively stable asset in an increasingly turbulent world - they're happy to convert their own cash, at whatever the prevailing rate is at, into dollars and even have it slowly inflated away by "quantitative easing" (aka money printing). Having control of the reserve currency of the world is an unbelievable gift to America and gives them control over all sorts of financial levers that other countries will never have. No sane government official in the US would ever suggest such  thing, as best it might be begrudgingly allowed as an asset but even then - it simply does not have anywhere near the transaction power needed for everything taking place each day even in a small country.

It is true for now but in near future, the BTC will be the king of the financial world. The BTC is already the most valuable currency in the world. anyone can't change that the next financial world is dealing with crypto and every physical currency will be die in near future.

For a president to like or hate bitcoin is not gonna change a lot, he may have some young supporters who are getting into cryptocurrency, but whether he has intention to use it  and goes with it to the congress to make some laws pro crypto or make crypto as a legal tender, because all the congress members need to pass it, and we know that it won't happen because it goes against their profits so they will never replace fiat with crypto

If most people in the US are pro with Bitcoin, then He will definitely be elected.  
And if He were elected, it would have had a tremendous effect, both in US itself and throughout the world.

If the next US Presidential candidate is pro Bitcoin it could have a very positive impact on the adoption of crypto currencies in general.

I believe many people would feel safer to enter the space.

Personally, I think a presidential candidates endorsement would legitimatize BTC in a new way for many people and would result in more people  entering the market and the price could radically increase.

- His mention is also just an ideological background on progress and future updates but his support cannot start from such thoughts, americans pay more attention to what a president can do for them after they support, social policies and political regulation are more necessary topics, determining which countries to partner with and which countries to become enemies with. Overall, bitcoin is probably a hobby and people wouldn't use such a subjective factor to sum up for an election.

A US presidential candidate supports Bitcoin in terms of thinking, in my opinion it is quite a strange thing because constitutionally, the leader of the country will be more pro with the economic system that has been passed down or centralized.  How can he support even if only in a mindset, maybe if you understand bitcoin then it's normal but it's a different story if you support it.  Fundamentally, Bitcoin is difficult for regulators to accept.

I think the classic viral contagion can be very El "Salvador" · and it begins to penetrate our minds

I think you don't need a pro bitcoin president to carry or achieve goals with bitcoin in what he believes he can do, the "Bob" can be in any productive area of life, in fact, and boy! than in the U.S. they have managed to channel individual-business success in the mirror of many presidents.

Q1: No. Q2 it is like asking the same thing but in a different context.

The business of electing the president of the richest country in the world is not just gaining support with bitcoin.  It depends a lot on the inflation line. Too many Kiwis weaken the US dollar.  This national candidate will lose, if it gives up the USD and replaces it with bitcoin, I think.

Donald Trump will not be the 2024 candidate nor will he be President.

And yeah, you're right, Republicans are not pro-Bitcoin.

Most American politicians don't care about Bitcoin because they are in the corporate wallet of the big banking institutions. Keep in mind, their congress just passed an infrastructure bill which included a provision on miners and some intermediaries to fill out tax information with the IRS in an effort to generate more revenue off the crypto markets - safe to say no American politician will ever be pro-Bitcoin. You need that corporate funding somehow, and it isn't going to come being pro-decentralization of the big banks.

Also, USD is quite literally on the verge of collapse depending on how the next few years go with inflation, and it's in the best interest of the American government to prop up USD as long as they can.

Well the bitcoin market is now bigger than just one president to decide it fate, although the action and inaction can have a temporary effect on the bitcoin market and that won't last forever. When you see big companies and giant tech companies entering into bitcoin, just hold tight your position.

I think there are still people who have different conclusions from what you said but maybe very few and the impact will not affect the whole. sometimes we are unable to digest there is still something that connects something with bitcoin because sometimes it is difficult to conclude, but indeed we are in a democracy / free to express opinions.

maybe he might personally not institutionally say things about bitcoin but as head of state it is arranged in such a way to be able to voice his opinion with the provisions that have been made. like you said that the economic system that has been in use for a long time cannot be changed immediately because it will have an impact on the country's economic system and globally, of course as the head of government this has been thought about and it is impossible for the expert staff to recommend things that will put the country in a state of crisis later because of the impact.

after becoming head of government then he will change for wider interests not just for self-interest and a preference for certain things such as bitcoin. when he was an individual he could have done that. he is now thinking about whether the impact will be beneficial for the country.

There will be people who like the idea of adopting bitcoin as well as others who do not.
It is not easy to offer a solution to people and have them accept it immediately.
People need to educate themselves with the use of bitcoin and the use of new technologies, also the government must invest in resources so that people know how to adapt.
Older people are less prone to change, young people have the advantage of learning faster. As well as choosing if bitcoin is what they really want. A mass adoption requires that we have the best tools to use bitcoin so easily in our daily lives.

It depends on what majority think about Bitcoin actually. They should conduct a survey about Bitcoin to have knowledge about what people think about it first. After that, it will be easier to decide how people would react to this kind of action. In the USA, actually there are so many cryptocurrency investors now despite the high income tax rates for cryptocurrencies.

Answer: Bob doesn't want to be a president yet. LoL, Bitcoin is blacklisted in the minds of many. Especially those who lost their money because of ignorance, impatience, etc. So, it is a scam to them and hearing a candidate for the position of a president advocating it, they're gonna throw you out. Reminds me of when people lost money in doge coin because they were geared by Elon's tweet. Ignorance, impatience, etc.